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| Hydropower Generation Market |
The hydropower generation market comprises components and equipment required for setting up hydropower plants for electricity generation using natural flow and stored water. Hydropower generation uses the potential energy of water, converted to kinetic energy and used to rotate turbines which then convert mechanical energy into electrical energy. It offers advantages such as zero emissions, reduced greenhouse gases, stable electricity prices, and lower production costs compared to fossil fuels. The growing need for reliable, affordable, and sustainable energy sources is driving the growth of the hydropower generation market.
The Global hydropower generation market is estimated to be valued at US$ 290.3 Mn in 2024 and is expected to
exhibit a CAGR of 7.7% over the
forecast period 2024 to 2030.
Key Takeaways
Key players operating in the hydropower generation market are Adeka
Corporation, BASF SE, Chitec Technology Co. Ltd, Clariant, Evonik Industries
AG, PMC Group, Polyvel Inc., SABO SpA, SK Capital Partners, Solvay, and
Songwon. These players are focusing on new product launches, partnerships, and
mergers & acquisitions to strengthen their market presence.
Some key opportunities in the market include constructing new hydropower plants
in emerging economies with abundant water resources, upgrading aging hydropower
infrastructure, and implementing technologies like pumped-storage hydropower
for large-scale renewable energy storage.
Globally, China, Canada, Brazil, Russia, and the United States have the highest
hydropower potential due to favorable geographies. Leading players are focusing
on expanding to high growth regions like Africa, Southeast Asia, and South
America to tap the opportunities.
Market drivers: Growing investment in renewable energy infrastructure from
governments and private players globally is a major market driver. Also,
increasing power demand owing to rapid industrialization and economic growth is
fueling the adoption of clean energy sources like hydropower.
Market restraints: High initial investment costs associated with hydropower
plant construction is a key challenge. Lengthy permitting and approval
procedures for hydro projects also restrain market growth. Environmental concerns
related to large dams can negatively impact the market.
Segment
Analysis
The Hydropower
Generation Market Demand can be segmented by type into storage and
pondage, pumped storage, and run-of-river. The run-of-river sub segment is
dominating as it does not require dams or reservoirs and utilizes the natural
flow and drop in the water level for power generation. This makes it more
environment friendly compared to storage projects.
Global Analysis
Regionally, the Asia Pacific region is the fastest growing as well as the
dominating region in the hydropower generation market. Countries like China,
India, Japan, and Southeast Asian countries are focusing on increasing their
hydropower generation capacities due to increasing energy demands as well as
push for renewables. China has the world's largest hydropower generation
capacity and is a major player in the global market. Other regions like Latin
America and Africa also have significant potential for hydropower due to their
topography and climatic conditions.
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Generation Market
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