Small Hydropower Industry Overview
The global small hydropower market size was valued at USD 2.07 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.8% from 2022 to 2030.
Strong growth in the use of renewable sources for energy production is likely to propel market growth over the coming years. Growing investments in smart “energy-saving” across various end-uses are expected to provide an impetus to the adoption of small hydropower energy for electricity generation. In addition, an increase in greenhouse gas emissions due to growing power consumption has fueled the United Nations Industrial Development Organization (UNIDO) and Federal Energy Regulatory Commission (FERC) to adopt certain renewable energy measures. Policies by the Federal Energy Regulatory Commission in order to encourage renewable sources of energy, coupled with the need to deliver energy in rural locations, are expected to foster market growth.
Gather more insights about the market drivers, restrains and growth of the Global Small Hydropower Market
Small hydropower in the U.S. accounted for 60%-70% of the overall consumption in the North American hydropower market in 2021. In the U.S., small hydropower installed revenue was 304.51 million by 2021 and is expected to have the potential of 363.21 million by 2030. Thus, such a high increase in potential, is expected to bolster the growth of the market during the forecast period. According to the International Renewable Agency, the cost of setting up hydropower plants to 1 MW varies in the range of USD 3,400/kW to USD 10,000/kW or more, which is significantly higher compared to larger plants due to depending on-site electricity requirements and location. The rising electricity distribution costs, power outages caused by faults in the main grid, and incentive programs introduced by the U.S. government are expected to propel end-users to shift towards setting up mini-hydropower systems up to 1 MW over the forecast period.
Browse through Grand View Research's Renewable Energy Industry Research Reports.
- Hydropower Market - Fossil fuel-based power generation is the most popular form of power generation in the world. However, depleting reserves of fossil fuels has prompted the industry to shift to renewable sources. The growing energy demand on account of the growing global population coupled with the need to reduce reliance on conventional power generation has been prompting the industry to use renewable power sources.
- Biomass Power Market - The global biomass power market size was valued at USD 121,340.76 million in 2021 and is projected to exhibit a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. The market has been witnessed growth with the rise in environmental concerns, which has forced various countries to increase the share of renewable energy in their power mix.
Small Hydropower Market Segmentation
Grand View Research has segmented the global small hydropower market based on capacity, component, type, and region:
Small Hydropower Capacity Outlook (Revenue, USD Million, 2019 - 2030)
- Up to 1 MW
- 1 - 10 MW
Small Hydropower Component Outlook (Revenue, USD Million, 2019 - 2030)
- Civil Construction
- Power Infrastructure
- Electromechanical Equipment
- Others
Small Hydropower Type Outlook (Revenue, USD Million, 2019 - 2030)
- Micro Hydropower
- Mini Hydropower
Small Hydropower Regional Outlook (Revenue, USD Million, 2019 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- October 22, 2021: Voith Group and Siemens Energy mutually agreed that Voith Group will buy the stake of Siemens in the former Voith Siemens Hydro Power Generation GmbH & Co. KG.
- October 2021: ANDRITZ, an international technology group offering hydropower generation equipment such as pump turbines, submersible motors, and services for various industries, received a contract worth USD 86.77 million (75 million euros) from the U.S. Army Corps of Engineers based in Tulsa District for the restoration and up-gradation of all four turbines and generators at Robert S. Kerr hydroelectric power plant, located along Arkansas River in Eastern Oklahoma adjacent to the town of Cowlington.
Key Companies profiled:
Some prominent players in the global small hydropower market include
- ANDRITZ
- Bharat Heavy Electricals Limited
- FLOVEL Energy Private Limited
- General Electric
- Gilkes
- Natel Energy
- Siemens Energy
- SNC Lavalin Group
- TOSHIBA CORPORATION
- Voith GmbH & Co. KGaA
Order a free sample PDF of the Small Hydropower Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com