Small Hydropower Market Set to Achieve USD 304.2 Billion Revenue by 2031 with 4.3% CAGR – TMR Report

Wilmington, Delaware, United States, May 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Small Hydropower Market is projected to flourish at a CAGR of 4.3% from 2021 to 2031. As per the report published by TMR, a valuation of US$ 304.2 billion is anticipated for the small hydropower market in 2031. As of 2022, the market for small hydropower was valued at US$ 208.3 billion

Increasing awareness of renewable energy sources, government supports through incentives and subsidies, and the need for decentralized power generation in rural areas are expected to drive the growth of small hydropower market during the forecast period. Small hydropower projects are often considered a reliable and sustainable source of electricity, as they utilize renewable resources and have a long lifespan.

Increasing demand for cleaner and more environmentally friendly energy sources compared to conventional fossil fuels is expected to propel the market for small hydropower.

Increasing stringent government regulation about the emission of greenhouse gases and increased emphasis on green energy and increased awareness about global warming and different types of pollution are expected to boost the demand for small hydropower during the forecast period. The increasing awareness and availability of financing options, such as grants, loans, and government investment incentives, play a vital role in driving the small hydropower market.

The increasing technological advancements in small hydropower. Ongoing research and development efforts by leading players on improving turbine efficiency, optimizing project design, and integrating smart grid technologies fuel the market growth.
        
Strong community engagement and support from local stakeholders, including government bodies, communities, and environmental organizations, are essential drivers for small hydropower projects.

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Market Scope:

Key Takeaways from the Market Report

• As of 2023, the small hydropower market is forecast to reach US$ 217.2 billion
• By turbine type, the reaction turbine segment is expected to account for key market share in 2023
• Small hydro segment to remain popular as small hydro plants can be operated at any temperature and wind condition
• Based on end-use, the industrial segment is expected to lead small hydropower market
• North America is projected to be the lucrative market for small hydropower
  

Small Hydropower Market: Prominent Drivers and Trends

• Increasing demand for energy and decentralization of power generation and growing environmental concerns to drive the market growth during the forecast period
• Increasing the application of small hydro in remote and rural areas offers an opportunity for market expansion.
• Technological innovation and availability of a wide range of turbines generator, and control systems accelerate the growth of the market during the forecast period.
  

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Small Hydropower Market: Regional Analysis

• Asia Pacific is expected to dominate the small hydropower market owing to the presence of small hydro plants in countries like India, China, and Indonesia due to the large population base and increase need for electricity.
• Europe is expected to witness lucrative growth opportunities for the small hydropower market during the forecast period owing to the policies and directives to promote renewable energy and support the development of small hydropower projects in countries like Switzerland, Sweden, Norway

Competitive Landscape

Transparency Market Research has profiled the following players in its global small hydropower market report:

• ANDRITZ
• General Electric
• Voith GmBH & Co. KGaA
• FLOVEL Energy Private Limited
• ATB Rive Calzoni
• Balino
• Bouvin Fouress Ltd.
• Canyon Hydro
• CKD Blansko
• Energiteknikk

The key small hydropower market players are investing in research & development activities and adopting next-generation technology. The market players are also engaged in strategic collaborations, regulatory approvals, and the launch of new products. Some specific developments are as follows:

• To equip two Small Hydropower plants ATIAIA ENERGIA S.A selects the Hydropower business of GE Renewable Energy including Bandeirante plant on Sucuriú river, and Areado plant on Indaiá Grande river in Brazil.
• Voith is a global technology company that offers solutions for the energy, oil and gas, paper, and raw materials industries. It specializes in hydropower technologies and provides a range of equipment and services for small hydropower projects, including turbines, generators, and automation systems.
• Andritz is a multinational technology company that provides equipment and services for various industries, including hydropower. The company offers small hydropower solutions, such as turbines, generators, and control systems, and has a significant presence in the small hydropower market
  

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Small Hydropower Market: Key Segments

Turbine Type

• Reaction Turbine
• Propellar Turbine
• Francis Turbine
  

Size

• Pico Hydro
• Micro Hydro
• Mini Hydro
• Small Hydro

End-Use

• Industrial
• Residential
• Commercial
  

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
  

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