Hydropower Plant Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast 2033

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Overview and Scope
A hydropower plant is a structure that produces electricity by harnessing the kinetic energy of moving water to rotate turbines and generators. The amount of energy obtainable from the water’s movement relies on the volume of water flow and the elevation difference, known as the head, between two points. Hydroelectric plants utilize the kinetic energy of flowing water in rivers, streams, or canals and are typically situated on or near a water body.

Sizing and Forecast
The hydropower plant market size has grown steadily in recent years. It will grow from $235.06 billion in 2023 to $246.51 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to growing application of small hydropower plants, increasing demand for renewable energy sources, rising government support for hydropower generation projects, rapid urbanization and industrialization, rising demand for effective and sustainable energy.

The hydropower plant market size is expected to see steady growth in the next few years. It will grow to $286.40 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to increasing demand for turbine and power generator solutions, growing demand for micro hydropower plants, rising demand for clean energy across the globe, increase in capacities for the installation of hydropower plants, growing awareness about the benefits of hydropower over other sources of energy. Major trends in the forecast period include adoption of advanced turbine technologies, small-scale hydropower projects, expansion of pumped storage hydropower, climate-resilient hydropower infrastructure, implementation of fish-friendly turbine designs.

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The hydropower plant market covered in this report is segmented –

1) By Type: Impoundment Power Plants, Diversion Power Plants (Run-of-River), Pumped Storage Power Plants
2) By Component: Solutions, Services
3) By End-User: City Power Supply, Industrial Power Supply, Military Power Supply, Other End-Users

Asia-Pacific was the largest region in the hydropower plant market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydropower plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing demand for renewable energy sources is expected to propel the growth of the hydropower plant market going forward. Renewable energy sources refer to energy derived from natural resources replenished on a human timescale, typically within a human lifetime or shorter. Hydropower plants use renewable energy from water resources to generate electricity without depleting finite resources, significantly contributing to greenhouse gas emissions, or ensuring long-term sustainability. For instance, in July 2022, according to reports published by the World Economic Forum, a Switzerland-based non-governmental organization, global energy investment has been growing steadily, averaging a 12% annual increase since 2020, and it is projected to rise by over 8% in 2022, reaching $2.4 trillion. Furthermore, according to the Institute for Energy Economics & Financial Analysis, a US-based nonprofit organization, investments in solar power generation totaled approximately $500 billion in 2022, up $80 billion from the previous year. Therefore, the increasing demand for renewable energy sources is driving the growth of the hydropower plant market.

Key Industry Players
Major companies operating in the hydropower plant market are Siemens Energy AG, ABB Ltd., Toshiba Corporation, China Three Gorges Corporation, Alstom Hydro, GE Renewable Energy, Hydro-Quebec, CPFL Energia S.A, SNC-Lavalin Group, Tata Power Company Limited, Alfa Laval AB, Voith GmbH & Co. KGaA, PJSC RusHydro, IHI Corporation, Bharat Heavy Electricals Limited, KOLEKTOR GROUP, Innergex Renewable Energy Inc., Flovel Energy Private Limited, Canadian Hydro Components, Natel Energy Inc., Andritz AG, Hitachi Mitsubishi Hydro Corporation, The British Columbia Hydro, Sinohydro Corporation, China Hydroelectric Corporation

The hydropower plant market report table of contents includes:

1. Executive Summary

2. Hydropower Plant Market Characteristics

3. Hydropower Plant Market Trends And Strategies

4. Hydropower Plant Market – Macro Economic Scenario

5. Global Hydropower Plant Market Size and Growth
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32. Global Hydropower Plant Market Competitive Benchmarking

33. Global Hydropower Plant Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Hydropower Plant Market

35. Hydropower Plant Market Future Outlook and Potential Analysis

36. Appendix

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