The global hydropower generation market was valued at $202.4 billion in 2019, and is projected to reach $317.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027. Hydropower generation is the process of using water flow to generate electricity. This is done by building a dam to create a reservoir of water, which is then released through a turbine to generate electricity. The force of the flowing water turns the turbine, which is connected to a generator that produces electricity.
Get Report Sample PDF: https://www.alliedmarketresearch.com/request-sample/9821
Hydropower is a renewable energy source that does not produce greenhouse gas emissions or other pollutants associated with fossil fuels. It is also very reliable and can provide a steady source of electricity. However, the construction of dams and reservoirs can have significant environmental and social impacts, such as altering river ecosystems and displacing communities.
Rise in demand for clean energy across the globe and to reduce the dependency on conventional fossil fuel such as coal to generate the electricity has led to set up various hydroelectric power projects across the globe. In addition, governments of various countries have imposed stringent environmental policies to reduce the carbon footprint. Due to this, various developed and developing countries such as the U.S., China, and India have closed their coal power stations and have invested heavily to install new hydropower generation stations for the generation of renewable power to meet the growing energy demand. Owing to this, the demand for new hydropower is expected to surge significantly across the globe during the forecast period.
The global market is segmented on the basis of capacity and region. Based on capacity, the hydropower generation market is fragmented into small hydro power plant (up to 1MW), medium hydro power plant (1MW – 10MW), and large hydro power plant (above 10MW). The large hydro power plant (above 10MW) is the leading segment that dominated the global market with more than three-fifths of the total market share in 2019.
Asia-Pacific accounted for a major global hydropower generation market share in 2019, and dominated the global market with nearly half of the total market share in 2019.
Key players operating in the global hydropower generation market include Andritz Hydro USA Inc., GE Energy, CPFL Energia S.A., Sinohydro Corporation, IHI Corporation, Alstom Hydro, China Hydroelectric Corporation, China Three Gorges Corporation, ABB Ltd, and Gerdau S.A.
Buy This Report (230 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/41uJEn2
COVID-19 analysis:
COVID-19 has grown to be a global health threat, impacting a hundred and forty nations and triggering the World Health Organization (WHO) to declaring it as a worldwide pandemic. Correspondingly, governments have taken severe confinement measures, including shutting down of various power generation infrastructure development programs. Due to this, the construction of sanctioned and ongoing hydropower projects has been halted for indefinite period, which is expected to affect the growth of the market during the forecast period.
The large hydro power plant (above 10MW) segment dominated the global market hydropower generation with around 65.0% of the market share in terms of revenue.
The medium hydro power plant (1MW – 10MW) segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 30.5% from 2020 to 2027.
Browse Complete Report: https://www.alliedmarketresearch.com/hydropower-generation-market-A09456
Asia-Pacific dominated the global hydropower generation market with around 49.2% of the market share in terms of revenue. In addition, it is also estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.2% from 2020 to 2027.
Related Reports:-
Renewable Energy Market 2023 Future Demand, Prominent Players & Forecast To 2030
Wind Energy Market 2023 Industry Trends, Share & Forecast To 2030
AI in Energy Market 2023 Industry Size, Share, Trends & Forecast To 2030
Bioenergy Market 2023 Statistics, Analysis & Forecast to 2030
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: