Hydropower Market –
Overview
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 Hydropower
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 Analysis
The
regional analysis of the hydropower market is segmented into regions such as
Asia Pacific, North America, Europe and Rest of the World.
The
Asia Pacific region is the principal market for energy storage market and is
trailed by the European and North American region. The hydropower market in the
U.S is responsible for about over 50% of the share in the North American
region. The large availability of unexploited reserves with rising measures
aimed at clean and reliable electricity is expected to lift the hydropower
industry in the U.S. In the European region, France, Switzerland, and Austria
have an existing hydropower capacity of about 6.42 GW, 5.81 GW and 4.32 GW
correspondingly. The escalating concerns towards the climate change along with
stringent government regulations to lessen carbon emission will inspire the
hydropower market in this region.
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Competitive Landscape
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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