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 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.
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.
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).
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. The increasing electricity demand and big
availability of water resource with well-established terrestrial topology in the
Asia Pacific region is projected to lift the hydropower market. Correspondingly,
speedy urbanization and industrialization are a few of the factors inspiring
the growth in the hydropower market.
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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