Small Hydropower Market to Grow with a CAGR of 4.19% through 2028
Increasing demand for renewable energy and growing
need for rural electrification are likely to drive the market in the forecast
period.
According to TechSci Research report, “Small Hydropower
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Small Hydropower Market stood at USD 3.10 billion
in 2022 and is anticipated to grow with a CAGR of 4.19% in the forecast period.
One of the primary
drivers propelling the global Small Hydropower market is the imperative of
environmental sustainability. Small hydropower, often hailed as a green energy
source, aligns with the growing global emphasis on reducing the carbon
footprint and mitigating climate change. In contrast to fossil fuels, small
hydropower systems generate electricity with minimal greenhouse gas emissions,
contributing significantly to a cleaner and more sustainable energy mix. A key
factor behind its sustainability is the minimal environmental impact of small
hydropower projects compared to larger hydroelectric dams. Small hydropower
plants typically involve lower water storage and impoundment, reducing the
alteration of natural river flows and ecosystems. This results in less
disruption to local habitats and aquatic life. Additionally, small hydropower
can operate continuously without relying on fossil fuels, reducing air
pollution and dependency on non-renewable energy sources. Governments,
organizations, and individuals worldwide are increasingly recognizing the
importance of transitioning to sustainable energy options. As a result, the
environmental sustainability of small hydropower positions it as a vital driver
in the global shift toward cleaner, more eco-friendly energy production.
Energy security and the
desire for a decentralized energy grid are significant drivers fostering the
growth of the global Small Hydropower market. These drivers stem from the need
to ensure a stable and reliable energy supply while reducing dependence on
centralized, often fossil-fuel-dominated power generation. Small hydropower
systems play a pivotal role in enhancing energy security by providing
consistent and dependable electricity generation. They are resilient to
disruptions and can serve as a stable source of power, mitigating the risks
associated with volatile fossil fuel prices and supply chain disruptions. This
stability is particularly crucial in regions where energy infrastructure is
vulnerable to natural disasters or geopolitical instability. Moreover, small
hydropower facilitates the decentralization of energy production. By enabling
local communities and businesses to generate their own electricity, it reduces
reliance on large, centralized power plants and long-distance transmission
lines. This not only enhances energy security but also contributes to grid
resilience, reduces transmission losses, and supports the growth of distributed
energy generation. As the quest for
energy security and decentralization gains momentum, small hydropower projects
are positioned as a key driver in the global transition toward a more
resilient, diversified, and sustainable energy landscape.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Small Hydropower Market.”
The Global Small Hydropower Market is segmented into type,
application, capacity, component and region. Based on type, The Run-Of-River segment had the
largest market share in 2022 & expected to maintain it in the forecast
period. RoR hydropower projects have a smaller environmental footprint compared
to Pumped Storage Hydropower projects. They typically do not involve the
construction of large dams or significant water storage, which can have more
extensive ecological impacts. As the world becomes increasingly environmentally
conscious, RoR projects are seen as a more ecologically friendly option, making
them more socially acceptable and easier to permit. The reduced environmental
disruption and lower risk of social and cultural displacement associated with
RoR projects make them more attractive to both project developers and
regulatory authorities. Pumped Storage Hydropower projects often face more
significant challenges related to land acquisition, resettlement of
communities, and potential ecological harm, which can lead to delays and
opposition. RoR projects typically have lower upfront capital costs compared to
Pumped Storage Hydropower. This makes them more financially feasible and
attractive to investors, particularly in regions with limited financial
resources or where project financing is a significant concern. RoR projects
often have shorter development timelines because they require less complex
infrastructure and permitting. This means that electricity generation can
commence relatively quickly, helping meet energy demands sooner.
Based on application, The Commercial segment had the
largest market share in 2022 and is projected to experience rapid growth during
the forecast period. Small hydropower projects are often more economically
viable for commercial entities compared to larger hydropower projects. They
typically require lower upfront capital investment and have shorter payback
periods, making them attractive from a financial perspective. Many countries
offer incentives and subsidies to promote the development of renewable energy
sources, including small hydropower. Commercial entities can take advantage of
these government programs to reduce the cost of project development and improve
profitability. Advances in small hydropower technology have made it easier and
more efficient to harness energy from small rivers and streams. Improved
equipment and design options have lowered operational costs and increased
energy production, making small hydropower more appealing to commercial
developers. Small hydropower projects have a smaller environmental footprint
compared to larger dams and hydropower installations. They are often considered
more environmentally friendly, which can be a selling point for commercial
entities looking to align with sustainability goals and meet regulatory
requirements. The global demand for clean, renewable energy sources has been
steadily increasing due to concerns about climate change and the depletion of
fossil fuels. Commercial entities see small hydropower as a valuable source of
reliable and sustainable energy to meet this growing demand. Small hydropower
projects can be easily scaled up or down to match the energy needs of specific
communities or industries. This scalability allows commercial developers to
tailor their projects to suit different market segments and geographical
locations.
Major companies operating in the Global Small
Hydropower Market are:
- Andritz
Group
- GE
Renewable Energy
- Voith
GmbH & Co.
- ALSTOM
Holdings
- Toshiba
Energy Systems & Solutions Corporation
- Harbin
Electric International Co., Ltd.
- Gilbert
Gilkes & Gordon Ltd
- Turboden
S.r.l.
- HydroChina
Corporation
- PowerChina
Corporation
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Global Small Hydropower market is expected to
rise in the upcoming years and register a significant CAGR during the forecast
period. The primary drivers of the global Small Hydropower market in the
business landscape are robust economic viability, spurred by lower upfront
costs and quicker returns on investment; favorable regulatory incentives and
subsidies, enhancing project profitability; advancing technology, increasing
operational efficiency and reducing costs; its environmentally friendly
reputation, aligning with sustainability goals and meeting regulatory
requirements; growing demand for clean energy due to climate concerns;
scalability to cater to diverse energy needs; reliability, providing stable
energy output; easy grid integration for efficient energy distribution;
attractive investment opportunities; and the contribution to enhanced energy
security, making it a compelling choice for commercial entities and investors
alike. Therefore, the market of Small Hydropower is expected to boost in the
upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Small Hydropower Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Run-Of-River, Pumped
Storage Hydropower), By Application (Residential, Commercial), By Capacity
(Micro Hydropower (Up to 100 kW), Mini Hydropower (101 kW to 1 MW)), By
Component (Electric Infrastructure, Electromechanical Equipment, Civil Works,
Others), By Region, By Competition”, has evaluated the future growth potential of Global
Small Hydropower Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Small Hydropower Market.
Contact
Mr. Ken
Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com