The global small hydropower market size is expected to reach USD 3.49 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.0% from 2020 to 2027. Cost advantages for installing small hydropower based power generation and the replacement of fossil fuel-based electricity production in an effort to reduce carbon emission into the atmosphere are expected to drive the market.
A
supportive regulatory framework for supportable energy in the European Union
and the United States is also likely to have a positive influence on market
growth. Execution of favorable government regulations such as the Small Conduit
Hydropower Development and Rural Jobs Act and Hydropower Regulatory Efficiency
Act in the United States and an increasing number of funding programs related
to the renewable energy sector in various developed countries, such as Canada
and Italy, are some of the factors projected to present future growth
prospects.
Increasing
investments in small hydropower projects to surge the rural electrification in
emerging countries are likely to drive the market. Besides, the assistance in
the form of fewer interest loans and allowances, renewable purchase
obligations, feed-in tariffs, and financial incentives would further assist the
growth of this market. An unstable source as the energy generation that depends
upon seasonal lows and highs can curb the growth of the market.
China,
India, and Australia are the fastest growing countries contributing mainly to
the Asia Pacific market growth. The small hydropower market in Australia is set
to expand at a CAGR of 1.9% from 2020 to 2027. The Asia Pacific market is
projected to rise during the estimated period owing to the investments in
off-grid energy generation and rural electrification. Moreover, the
availability of probable sites, along with the presence of a skilled workforce,
is expected to favor countries, such as India and China, in market growth.
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Small Hydropower
Market Report Highlights
- By type, the mini-hydropower
segment is expected to witness the fastest growth over the forecast period
- Asia Pacific is projected to
grow at a substantial rate throughout the forecast period. China is
expected to account for the maximum share in the Asia Pacific region in
the forecast period
- Based on application, the
civil construction segment accounted for 32.0% share of total volume in
2019
- Brazil dominated the Central
& South America market and is set to reach USD 103.59 million by 2027.
Growth in the industrial sector accompanied by a huge hydro potential
location owing to the Amazon River will fuel market growth.
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Small Hydropower
Market Segmentation
Grand View Research has segmented
the global small hydropower market on the basis of capacity, type, application,
and region:
Small Hydropower
Capacity Outlook (Revenue, USD Million, 2016 - 2027)
- Up to 1 MW
- 1 to 10 MW
Small Hydropower
Type Outlook (Revenue, USD Million, 2016 - 2027)
- Mini Hydropower
- Micro Hydropower
Small Hydropower
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Electromechanical equipment
- Power Infrastructure
- Civil Construction
- Others
Small Hydropower
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Russia
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central and South America
- Brazil
- Colombia
- Paraguay
- MEA
- Saudi Arabia
- UAE
- South Africa
- Egypt
List of Key Players
of Small Hydropower Market
- Voith GmbH & Co. KGaA
- ANDRITZ
- GENERAL ELECTRIC
- TOSHIBA CORPORATION
- Siemens Gas and Power GmbH
& Co. KG
- BHEL
- Gilkes Hydro
- Natel Energy, Inc.
- FLOVEL Energy Private
Limited
- SNC-Lavalin Group
- HNAC Capacity Co., Ltd.
- MavelAS
- Kolektor
- Canyon Industries, Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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