Tokyo, April 15, 2022 (GLOBE NEWSWIRE) -- The global hydropower generation market size was valued at US$ 219.14 billion in 2021. There are no hazardous chemicals, such as greenhouse gases, released during the hydropower generation process. Over the forecast period, this aspect will boost the worldwide hydropower generation market's growth. Hydropower generation is a viable long-term and short-term energy generation alternative. Hydro power is also considered to be a cost-effective and efficient source of energy.
Get the Sample Pages of Report@ https://www.precedenceresearch.com/sample/1630
Hydropower can be used for a variety of purposes, including agricultural and recreational activities. Furthermore, the government is aggressively investing in energy projects, supporting the worldwide hydropower generation industry. The hydropower generating industry is expected to rise as a result of technological advancements and the adoption of new technologies.
| Report Scope | Details |
| Market Size in 2021 | USD 219.14 Billion |
| CAGR | 5.1% from 2022 to 2030 |
| |
| |
| By Region |
|
Report Highlights
- On the basis of capacity, large hydro power segment holds the largest market share in the global hydropower generation market. A hydro power facility with a capacity of more than 10 MW is referred to as a large hydro power plant. The large hydro power facilities create electricity that can be stored for a long time. The low-cost operation and maintenance are required for this type of plant. The segment’s growth is aided by an increase in the number of hydro powers producing projects.
Ask here for more customization study@ https://www.precedenceresearch.com/customization/1630
Regional Snapshot
Europe is the largest segment for hydropower generation market in terms of region.The UK. is dominating the hydropower generation market in the Europe region. The growth of the hydropower generation business in the region is being fueled by tough and advantageous government regulations imposed by the European Union and government. Rapid urbanization and industrialization are driving up hydropower generation needs in Europe.
Asia-Pacific region is the fastest growing region in the hydropower generation market.In order to establish hydropower plants in undeveloped areas, government agencies are partnering with local stakeholders. Furthermore, the government is extensively investing in hydropower and energy generation projects in the region, which is fueling the expansion of the hydropower generation industry. As a result of all of the aforementioned causes, the hydropower generation market in the Asia-Pacific area is expanding.
Market Dynamics
Drivers
Surge indemand for electricity
The demand for electricity is rising at a rapid pace especially in developing and underdeveloped regions. As per the statistics issued by International Energy Agency (IEA), the demand for electricity has increased over a period of time. The electricity is being generated with the help of renewable energy sources. The hydro power is one among them, which is very efficient in nature. As a result, surge in demand for electricity is driving the growth of the global hydropower generation market over the forecast period.
Restraints
High capital investments for hydropower generation plants
To set up the hydro power generation plants, lots of resources are required. Some of these resources are quite expensive in nature. The plant set up requires land and this land should be mostly river side. For this, the government approval is mandatory. Sometimes this also requires good amount of money. In addition, labor cost is also added to the overhead cost of the plant. As a result, high capital investments for hydropower generation plants are hindering the growth of the global hydropower generation market.
Opportunities
Growing government initiatives
The government of various nations has understood the importance and necessity of power generation. For this, they are constantly taking efforts by collaborating and partnering with power generating companies. Moreover, the government is also investing in energy projects on a large scale. Thus, growing government initiatives is creating new opportunities for the growth of the global hydropower generation market over the forecast period.
Challenges
Lack of resources to generate hydropower
The developing and underdeveloped regions face plenty of issues. One such issue is lack of resources for the power generation. These regions take help from other developed regions in terms of resources. The government also collaborate major industry players of developed nations for this. As a result, lack of resources is a major challenge for the growth of the global hydropower generation market.
Related Reports
- Energy Retrofit Systems Market Research Report 2022 – 2030
- Bioenergy Market Research Report 2022 – 2030
- Energy ESO Market Research Report 2022 – 2030
Recent Developments
- Isagen SA, a Columbian power provider received a contract to buy two 19.9 MW small hydro power plants in the Antioquia region in February 2021. Isagen is growing its non-conventional renewables footprint with this project, which has a total expenditure of roughly $ 194.8 million.
- Artistic Milliners spent roughly $ 370 million in two river hydropower projects in Pakistan in March 2021. Artistic Hydro II and Hydro I, the company’s hydro power projects will generate a total of 521 GWh per year.
- As per the developer of Uzbekistan’s state hydropower, the Zarchobsmall hydro power plant was successfully commissioned in March 2021. The initiative is a part of Uzbekistan’s national energy policy, which calls for the country to produce all of its electricity from renewable sources by 2030. The project also plans to generate 5 gigawatts of solar energy, 3.8 gigawatts of hydropower, and 3 gigawatts of wind power.
Key Players
- Andritz Hydro USA Inc.
- GE Energy
- CPFL Energia S.A.
- Sinohydro Corporation
- IHI Corporation
- Alstom Hydro
- China Hydroelectric Corporation
- China Three Gorges Corporation
- ABB Ltd.
- Tata Power Corporation
Click Here to View Full Report Table of Contents
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1630
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
