IMARC Group's report titled "Small Hydropower Market Report by Capacity (Up to 1 MW, 1-10 MW), Component (Turbine, Generator, Electric Infrastructure, Intake Valves and Penstock, and Others), and Region 2024-2032", The global small hydropower market size reached US$ 2.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.8 Billion by 2032, exhibiting a growth rate (CAGR) of 2.43% during 2024-2032.
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Factors Affecting the Growth of the Small Hydropower Industry:
- Increasing Environmental Concerns:
Small hydropower projects have a low environmental impact compared to large-scale hydroelectric dams. They typically involve minimal land disturbance and cause less disruption to local ecosystems and communities. This aligns with the growing emphasis on sustainable development and conservation of natural resources. Moreover, as several countries strive to mitigate climate change and reduce greenhouse gas emissions, the demand for clean energy alternatives is rising. Small hydropower generates electricity without emitting significant amounts of greenhouse gases, making it a preferred option for meeting renewable energy targets while minimizing environmental harm.
- Technological Advancements:
Advances in turbine technology, such as the development of smaller, more efficient turbines, allow for better utilization of water resources and increased power generation capacity in small hydropower installations. Turbines optimized for low-flow conditions enable the extraction of energy from rivers and streams. Furthermore, the rising integration of automation and control systems enhances the operational efficiency and reliability of small hydropower plants. Automated monitoring and remote control capabilities enable real-time optimization of power generation, maintenance scheduling, and fault detection, leading to improved performance and reduced downtime.
- Water Resource Management:
Effective water resource management involves identifying and allocating water resources for different purposes, including energy generation. By assessing water availability, flow patterns, and seasonal variations, water managers can identify suitable sites for small hydropower development and optimize the utilization of renewable energy resources. In addition, the integration of small hydropower with existing water infrastructure, such as irrigation systems or flood control reservoirs, enhances the efficiency and sustainability of water resource management practices. Multi-purpose dams and hydropower projects enable simultaneous utilization of water for irrigation, flood mitigation, and electricity generation.
Leading Companies Operating in the Global Small Hydropower Industry:
- ANDRITZ
- BHEL
- Canyon Hydro
- GE Renewable Energy
- Gilbert Gilkes & Gordon Ltd.
- HNAC Technology
- Mavel
- Siemens
- SNC-Lavalin
- Toshiba
- Voith
Small Hydropower Market Report Segmentation:
By Capacity:
- Up to 1 MW
- 1–10 MW
Up to 1 MW represents the largest segment as it offers a balance between power generation capacity and manageable installation costs, which makes it economically attractive for various applications.
By Component:
- Turbine
- Generator
- Electric Infrastructure
- Intake Valves and Penstock
- Others
Turbine accounts for the majority of the market share due to their efficiency in converting kinetic energy into electricity makes them a preferred choice for generating renewable energy from rivers, streams, and other water sources.
Regional Insights:
- 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
Asia Pacific enjoys the leading position in the small hydropower market on account of growing energy demand, coupled with efforts to reduce reliance on fossil fuels and mitigate carbon emissions.
Global Small Hydropower Market Trends:
The increasing integration of energy storage technologies, such as batteries or pumped-storage hydroelectricity, with small hydropower systems improves grid integration and allows efficient utilization of intermittent renewable energy resources. Energy storage helps balance supply and demand, mitigate variability, and enhance grid resilience, thereby increasing the value proposition of small hydropower projects.
In addition, small hydropower projects contribute to climate resilience by providing a reliable source of renewable energy and supporting adaptation strategies in the face of climate change. Run-of-river designs and low-impact developments minimize vulnerability to extreme weather events and hydrological variability.
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