Large capacity segment in 2016 accounted for over 80% of global hydropower market share. Rising demand for continuous and reliable electricity along with upgradation of existing generating stations will stimulate the business landscape. In 2013, Agder Energi awarded a contract worth USD 24.4 million to Alstom, towards upgradation of the Iveland II hydroelectric plant in Norway, which has a generating capacity of approximately 150-GWh and 50 MW on annual basis. In 2016, Andritz installed three hydroelectric stations in Nicaragua and Brazil with an aggregate value of over USD 75 million with an aim to provide constant and reliable electricity.
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In North America, substantial funds have been raised toward developing sustainable energy, which has, in a way complimented the growth of hydropower market. The abundant availability of natural resources will further help the region to prosper and contribute toward clean and reliable energy sources. In 2016, U.S. hydropower market accounted more than 50% of total regional share and is likely to continue its dominance over the coming years. For the United States, in 2015, Rey Development announced to inject USD 60 million in hydroelectric installation across the region.
Global hydropower market is spectating a robust growth path over the years ahead, subject to the fact that clean, sustainable power generation from water, one of the most abundantly available renewable resources, is gaining renewed prominence at the global level. Hydropower is most widely utilized renewable source of power generation. The industry has been a subject of vital importance for advanced research institutes, which have been striving to deploy high capacity products for massive power generation applications, which will subsequently propel hydropower market. As per the IEA (International Energy Agency), hydroelectric held more than 80% of the total renewable energy mix.
Increasing measures to reduce carbon footprints and the escalating demand for reliable power sources have fueled the growth of global hydropower industry. A report by Global Market Insights, states that, Hydropower Market in 2016, was worth more than 1000 GW in terms of volume and is projected to surpass 1300 GW by 2024, expanding at an annual growth rate of 2% over the period 2016-2024.
Based on product capacity, hydropower market is segmented into micro, pico, mini, small, and large hydropower stations. Small Hydropower industry size is expected to grow at 2.5% over 2016-2024, which will augment the overall market trends. This is possible due to the product versatility, reduced investments, and renewable nature. Mini hydropower market contributed to 2% of global hydropower industry share in 2016, owing to its low environmental impact and cost-effective characteristics.
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Growing investment in electric infrastructure to upgrade to smart off grid networks has further augmented the mini hydropower market. For instance, in 2016, the Government of Malaysia, launched the Sarawak Alternative Renewable Energy Scheme which plans to integrate micro hydro power plants for rural electrification in the region.
In 2016, large hydropower capacity segment accounted more than 80% of overall hydropower industry share, subject to the rigorous deployment of power stations and projects for upgradation. ANDRITZ AG, an Australian company, installed three hydroelectric stations in Brazil and Nicaragua with an aim to provide reliable electricity, by spending USD 75 million collectively. Moreover, rising electricity demand from India, China, and Brazil will further augment the large capacity hydropower market.
Rapid industrialization and urbanization in China have generated colossal growth opportunities for hydropower market players, as China plans to invest USD 3.6 billion in Myanmar’s Myistone unit. This will help the Myistone unit to generate 6000 MW of hydropower by 2030. Moreover, in its 13th Five Year Plan, the Government of China announced plans to implement clean energy sources and also proposed the installation of 340 GW of hydropower stations by 2020. The massive growth of global Offshore Hydropower Market is also bound to positively influence the overall industry trends.
Table of content for this research report:
Chapter 4 Hydropower Market, By Capacity
4.1 Global market share by capacity, 2016 & 2024
4.2 Mini Hydropower
4.2.1 Mini hydropower market, 2014 – 2024
4.2.2 Mini hydropower market volume, by region, 2014 – 2024
4.2.3 Mini hydropower market capex, by region, 2014 – 2024
4.3 Micro and Pico Hydropower
4.3.1 Micro and pico hydropower market, 2014 – 2024
4.3.2 Micro and pico hydropower market volume, by region, 2014 – 2024
4.3.3 Micro and pico hydropower market capex, by region, 2014 – 2024
4.4 Small Hydropower
4.4.1 Small hydropower market, 2014 – 2024
4.4.2 Small hydropower market volume, by region, 2014 – 2024
4.4.3 Small hydropower market capex, by region, 2014 – 2024
4.3 Large Hydropower
4.3.1 Large hydropower market, 2014 – 2024
4.3.2 Large hydropower market volume, by region, 2014 – 2024
4.3.3 Large hydropower market capex, by region, 2014 – 2024
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Major participants in hydropower market are ANDRITZ HYDRO, Voith, General Electric, Alfa Laval, China Three Gorges Corporation, China Yangtze Power, Metso, Hydro-Québec, RusHydro, Duke Energy, Agder Energi, Georgia Power, StatKraft, Ontario Power Generation, Engie, ABB, EDF and Tata Power.
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