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Global small hydropower market size, share and growth analysis for 2024-2033
The Business Research Company's Small Hydropower Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, June 25, 2024 /EINPresswire.com/ -- The small hydropower market has experienced robust growth in recent years, expanding from $2.94 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to large supply of water resources, rural electrification, environmental concerns, versatility and low investment costs, financial incentives.
Strong Future Growth Anticipated
The small hydropower market is projected to continue its strong growth, reaching $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to increasing demand for clean energy, increase in greenhouse gas emissions, increase in the production of energy from, increasing installation of small hydropower plants, increase industrialization
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Growth driver of the small hydropower market
Increasing demand for clean energy is expected to propel the small hydropower market going forward. Clean energy refers to energy sources and technologies with minimal or no negative environmental impact, particularly regarding greenhouse gas emissions and air pollution. Small hydropower systems generate electricity without emitting greenhouse gases or air pollutants during operation, contributing to cleaner air and a lower carbon footprint.
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Major Players and Market Trends
Key players in the small hydropower market include General Electric, Siemens Energy, Toshiba Corporation, ANDRITZ, SNC Lavalin Group, Voith GmbH & Co. KGaA, Mavel, a.s., Flowserve Corporation.
Major companies operating in the small hydropower market are focused on developing innovative products, such as mini hydropower systems, to strengthen their position in the market. A mini hydropower system is a small-scale hydropower that generates electricity from flowing water, typically with a capacity between 100 kW and 1 MW.
Segments:
1) By Type: Micro Hydropower, Mini Hydropower
2) By Capacity: Up to 1 MW, 1–10 MW
3)By Application: Civil Construction, Power Infrastructure, Other Applications
4) By End-User: Commercial, Utility-Scale
Geographical Insights: North America Leading the Market
North America was the largest region in the small hydropower market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of small hydropower.
Small Hydropower Market Definition
Small hydropower refers to the generation of electricity through the use of hydropower systems that typically have a capacity of less than 10 megawatts (MW). These systems harness the energy from flowing or falling water to generate electricity on a smaller scale than larger hydropower plants.
Small Hydropower Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Small Hydropower Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on small hydropower market size, small hydropower market drivers and trends, small hydropower market major players, competitors' revenues, market positioning, and market growth across geographies. The small hydropower market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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