The growing call for a shift to more clean
and sustainable energy sources is improving the demand for hydropower globally.
Market reports connected with the energy and power industry have been presented
by Market Research Future which makes reports on other industry verticals that
aims to analyze the current market scenarios better. The market is set to
achieve a CAGR of 3% in the approaching years.
The harnessing of energy from water has
gained significant traction, as the damage from climate change and
environmental pollution, becomes more evident. The collective focus of the
governments around the world has inspired substantial development for the
hydropower market. The surge in demand for electricity due to rising
applications is projected to provide further impetus to the hydropower market.
Moreover, increased urbanization and industrialization rates are expected to
provide considerable growth prospects in the forecast period.
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Segmental
Analysis
The hydropower market is segmented on the
basis of capacity and region.
On the basis of capacity, the hydropower
market is segmented into micro and pico hydropower, mini hydropower, small
hydropower, and large hydropower.
Based on regions, the hydropower market is
segmented into Asia Pacific, North America, Europe and Rest of the World.
Regional
Outlook
U.S hydropower market accounted about over
50% of the North America share. Large availability of untapped reserves with
growing measures towards clean and reliable electricity is anticipated to boost
the hydropower industry in U.S
In Europe, Switzerland, France and Austria
has a current hydropower capacity of about 6.42 GW, 5.81 GW and 4.32 GW
respectively. Rising concern towards the climate change along with strict
government regulation to reduce carbon emission will stimulate the hydropower
market in this region.
Growing electricity demand and large
availability of water resource with well-established geographic topology in
Asia-Pacific Region will certainly boost the hydropower market. Also, rapid
urbanization and industrialization re some of the factors encouraging the
hydropower growth.
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Key
Players
The significant contenders present in the
hydropower market globally are ANDRITZ HYDRO GmbH (Austria), General Electric
Company (U.S), China Three Gorges Corporation (China), Voith GmbH (Germany),
ABB Ltd (Switzerland), Alfa Laval (Sweden), Metso Corporation (Sweden),
Hydro-Québec (Canada), Engie (France) and Tata Power Corporation (India).
Industry
Updates:
Jan 2019 A Bosnian hydropower company
called HE Dabar recently invited bids for the financing and construction of its
160 megawatt (MW) plant in southeastern Bosnia at an assessed cost of 366
million marka ($213 million). The Dabar power plant which will be located on
the Trebisnjica river will be fragment of a strategic 250 MW hydropower
complex, Gornji Horizonti, which is also intended to integrate two smaller
hydropower plants, Bileca and Nevesinje.
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