According to the latest report by IMARC Group "Small Hydropower Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", The global small hydropower market is expected to grow at a CAGR of around 3% during 2021-2026.
Small hydropower (SHP) refers to the power generation technology that converts kinetic energy from flowing water into electricity. It is applied for low-to-medium electricity needs, including lighting and telecommunication. SHP plants are generally installed in small rivers, streams or existing water supply networks since these plants have zero or negligible impact on the environment compared to large-scale hydropower plants.
Market Trends:
The escalating demand for renewable energy sources and rising investments in hydropower projects due to the growing environmental concerns represent the primary factors driving the global small hydropower market. Additionally, several initiatives undertaken by governments of different countries to increase rural electrification and the implementation of financial incentives and favorable policies for sustainable development are other major growth-inducing factors. Furthermore, various technological advancements enabling automation and limited electricity production despite extreme weather changes are contributing to the market growth. Other factors, including the up-gradation of abandoned hydro sites and rising power consumption, are anticipated to provide a positive market outlook.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ANDRITZ AG (ADRZF)
- Bharat Heavy Electricals Limited
- CANYON FPO (CAY.AX)
- GE Renewable Energy
- Gilbert Gilkes & Gordon Ltd.
- HNAC Technology
- Mavel
- Siemens
- SNC-Lavalin
- Toshiba
- Voith.
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Capacity:
- Up to 1 MW
- 1-10 MW
Breakup by Component:
- Turbine
- Generator
- Electric Infrastructure
- Intake Valves and Penstock
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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