Hydroelectric power, often referred to as hydroelectricity, is the electricity generated from the energy of flowing water. This renewable energy source is harnessed through hydropower plants, which are operational in around 150 countries worldwide. The Asia-Pacific region leads the global hydroelectricity production, accounting for nearly one-third of the total output. China stands as the world's largest hydroelectricity producer, with an impressive 920 TWh generated in 2013, contributing to 16.9% of its domestic power consumption.
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Advantages of Hydroelectricity:
Hydroelectricity offers several advantages, including relatively low production costs, positioning it as a promising source of renewable energy. Unlike coal or gas plants, hydro stations do not consume water for energy generation. Moreover, hydropower facilities equipped with dams and reservoirs provide flexibility in electricity output, enabling rapid adjustments to meet changing energy demands. Additionally, hydroelectric power plants generate minimal immediate waste during construction, and they typically emit significantly lower levels of ozone-depleting substances compared to photovoltaic and petroleum-fueled energy sources.
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Market Analysis and Structure:
- Market Size (Years): 2020–2030
- Base Year: 2020
- Forecast Period: 2021–2030
- Forecast Unit: Value (USD)
- Segments Covered: Capacity, Type, Component, and Region
- Regions Covered: North America, Europe, Asia-Pacific, LAMEA
- Key Players: Voith, ANDRITZ, GE Renewable Energy, Toshiba, Siemens, BHEL, Gilbert Gilkes & Gordon, Flovel
COVID-19 Impact on the Hydroelectric Power Market:
- Shutdown of high electricity-consuming manufacturing industries resulted in demand decline and supply chain disruptions.
- Increased residential electricity consumption due to the pandemic fostered hydroelectric market growth.
- Temporary halting of hydropower plant construction led to delayed production, impacting the hydroelectricity market's growth.
Key Influencing Factors:
- Transition to cleaner fuel sources and renewable energy plans globally.
- Extensive investments in hydropower projects across various countries.
- Notable hydropower development, like the construction of dams in Laos.
- However, high capital investments, operational costs, and longer gestation periods pose forecasted growth challenges.
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Market Trends:
- Voith Hydro's expansion in Nepal and VolgaHydro's new plant in Russia showcases industry growth.
- GE Renewable Energy introducing modular turbines for mini-hydropower systems demonstrates innovation.
- Micro and mini hydropower types gaining traction for decentralized energy solutions.
Key Segments Covered:
- Capacity: Up to 1 MW, 1–10 MW
- Type: Micro Hydropower, Mini Hydropower
- Components: Electromechanical Equipment, Electric Infrastructure, Civil Works, Others
- Region: North America, Europe, Asia-Pacific, LAMEA
Report Benefits:
- Analytical depiction of the hydroelectricity industry with trends and future projections.
- Insight into key drivers, restraints, and opportunities with detailed market share analysis.
- Quantitative analysis of the 2020-2030 market growth scenario.
- Porter’s five forces analysis illustrating buyer and supplier dynamics.
- Comprehensive hydroelectricity market analysis based on competitive intensity and upcoming competition.
Hydroelectricity Market Highlights:
- Capacity Segments: Up to 1 MW, 1-10 MW
- Type: Micro Hydropower, Mini Hydropower
- Components: Electromechanical Equipment, Electric Infrastructure, Civil Works, Others
- Region: North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Rest of LAMEA)