Pune, India, March 08, 2023 (GLOBE NEWSWIRE) -- The number of small hydropower projects is expected to increase, thus favoring growth in the global small hydropower market. Fortune Business Insights in a new report, titled “Small Hydropower: Global Market Analysis, Insights, and Forecast, 2019-2026” predicts that the market is projected to expand at a CAGR of 3.06%. As per the report, the global market for small hydropower installed 170 GW in 2018 and is expected to cross 214GW by 2026. Small hydropower is a clean and renewable source of energy. It is a reliable, low-cost, and has better capacity than large hydropower systems. As per recent research studies, currently there are about 83,000 small hydropower dams worldwide.
Increasing industrialization in BRIC nations, governments are focusing on remote areas to efficiently supply electricity. Owing to the unavailability of grids in such areas, the demand for small hydropower generators is likely to increase. This will further impact the small hydropower market demand. Moreover, small hydropower plants are mainly suitable in areas with poor grid connectivity. Small hydropower or SHP generates electricity at low prices than other off-grid technologies. SHP is highly flexible and easily adaptable to several infrastructural and geographical circumstances. Enabled by this, the small hydropower market growth is expected to increase in the foreseeable future.
Request a Free sample of Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/small-hydropower-market-100214
Asia Pacific to Hold a Lion’s Share Owing to Continuous Developments by China
From a geographical standpoint, the small hydropower market in Asia Pacific is expected to dominate the global SHP market through the forecast years. The rising developments made by the Chinese government for the construction of small hydropower plants. “As per installed capacity, Pacific region accounts for the lowest share of SHP, whereas Asia holds the maximum share of SHP. Together, Asia Pacific covers over 65% of the installed capacity of small hydropower,” stated a lead analyst at Fortune Business insights.
The market in India is likely to witness growth between 2018 and 2026. Government initiatives such as Rajiv Gandhi Grameen Vidyutikaran Yojana and SHP Programme by Ministry of New and Renewable Energy (MNRE) are expected to expand the small hydropower market size. Rajiv Gandhi Grameen Vidyutikaran Yojana promotes utilization of renewable energy sources and electrification in rural areas, whereas SHP Programme by Ministry of New and Renewable Energy (MNRE) encourages small hydropower development.
The small hydropower market in Europe is anticipated to grow considerably over the projected horizon. Europe accounts for over 45% of the installed capacity of SHP. The rising trend of adopting renewable technologies is contributing to the growth of the market in this region. In addition to this, better resource availability is another factor stimulating growth in the market in Europe.
Following Europe, Latin America and North America are third and fourth leading regions in the market. The U.S. had over 50% of the installed capacity of SHP, however, currently, it is stagnant. The market is expected to emerge in North America owing to the upgradation of several SHP projects in the U.S.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/small-hydropower-market-100214
RusHydro to Build Two Small Hydropower Projects, Each with an Installed Capacity of 24 MW
Several international organizations are conducting initiatives to promote the use of small hydropower across the world. This will create enormous small hydropower market potential in the years to come. Use of SHP has reduced carbon emissions, thus improved the living standards of people. Several companies are planning to construct small hydropower plants, especially in remote areas to promote use of SHP. For instance, a Russian energy company called RusHydro started the construction of two SHP plants in June 2019.
Buy Now: https://www.fortunebusinessinsights.com/checkout-page/100214
These plants called Krasnogorskaya 1 and Krasnogorskaya 2 have an installed capacity of 24.9 MW and are built on the Kuban River in Russia. The chairman of the company made a statement by saying that small hydropower development has always been an integral part of our business. He added that this project will create 700 new jobs between the start and end of this plant construction. The report profiles some of the other leading companies operating in the small hydropower market. These include Innergex, Blue World Power Energy and Resources, SN Aboitiz Power, Inc., Pernix Group, Inc., Gravity Renewables, Dulas Ltd, Voltalia, and Green Highland Renewables Ltd, Velcan Energy.
Small Hydropower: Global Market Analysis, Insights and Forecast, 2019-2026
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Small Hydropower Market Analysis (MW & US$ Mn), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- North America Small Hydropower Market Analysis (MW & US$ Mn), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Market Analysis and Forecast – By Country
- U.S.
- Canada
- U.S. Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Canada Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Latin America Small Hydropower Market Analysis (MW & US$ Mn), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Market Analysis and Forecast – By Country
- Brazil
- Mexico
- Rest of Latin America
- Brazil Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Mexico Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
- Rest of Latin America Market Analysis and Forecast – By Capacity
- Below 1MW
- 1-10MW
Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/small-hydropower-market-100214
Read Related Insights:
Industrial Gases Market Share and regional forecast 2023-2028
Energy as a Service Market Size, Share, Growth Outlook 2023-2028
Circuit Breaker Market Size, Share, Growth Outlook 2022-2028
About us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
