Portland, OR, March 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hydropower generation market generated $202.4 billion in 2019, and is expected to garner $317.8 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027. The report offers an extensive analysis of changing market trends, top investment pockets, value chain, key segments, and competitive landscape.
Increase in demand for electricity across the developing economies and preference for clean energy across the globe drive the global hydropower generation market. However, high capital and operational expenditures hinder the market growth. On the other hand, increase in demand for renewable power and surge in hydropower install capacity create new opportunities in the market.
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Covid-19 Scenario:
- Owing to the lockdown imposed to curb the spread of coronavirus, the proposed and ongoing government projects aimed at development of hydropower have been postponed.
- Uncertainty and liquidity shortages occurred due to pandemic led to risks regarding financing and refinancing of few hydropower projects. In addition, Greenfield development and modernization projects have been stopped due to disruptions in the supply chain.
- The impact on operations has been lesser in facilities with high level of automation.
The report provides detailed segmentation of the global hydropower generation market based on capacity and region.
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Based on capacity, the large hydro power plant (above 10MW) segment contributed to the largest market share, accounting for nearly two-thirds of the total share in 2019, and will maintain its highest contribution during the forecast period. However, the medium hydro power plant (1MW - 10MW) segment is estimated to witness the highest CAGR of 6.2% from 2020 to 2027.
Based on region, Asia-Pacific contributed to the highest share in 2019, holding nearly half of the total market share, and will maintain its dominance in terms of revenue by 2027. Moreover, this region is estimated to manifest the highest CAGR of 6.2% during the forecast period.
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Leading players of the global hydropower generation market analyzed in the report include Andritz Hydro, CPFL Energia S.A., GE Energy, IHI Corporation, Sinohydro Corporation, China Hydroelectric Corporation, Alstom Hydro, ABB Ltd, China Three Gorges Corporation, and Gerdau S.A.
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