Hydropower Market, Hydropower Market Insights, Hydropower Market Trends

The Hydropower Market is estimated to be valued at US$ 201.4 Bn in 2022 and is expected to exhibit a CAGR of 5.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Hydropower is a renewable and non-polluting source of energy generated from flowing rivers and water heads. It involves converting the kinetic energy of moving water into electrical energy using hydro turbines. Hydropower is a well-established renewable energy source that offers various advantages such as low carbon emissions, grid reliability, and flexibility of operations. Hydropower plants play a vital role in meeting the increasing global demand for electricity in an environmentally friendly manner.

Market key trends:
One of the major trends driving the growth of the Hydropower Market is increasing investments in the renewable energy sector globally. Governments of many countries are strongly supporting the development of renewable energy sources to reduce dependency on fossil fuels and minimize carbon emissions. As hydropower is a reliable renewable source of energy, many governments are heavily investing in new hydropower projects as well as the refurbishment of existing hydropower infrastructure. For instance, according to the International Hydropower Association, global hydropower generation capacity is projected to increase by over 450 GW by 2050 with over $800 billion investments in new hydropower schemes.

Porter’s Analysis
Threat of new entrants: Low-cost capital requirements and presence of large players make entry difficult for new players.
Bargaining power of buyers: Rapid growth and increasing awareness about renewable energy reduces buyer power.
Bargaining power of suppliers: Dependence on dams and hydroelectric equipment increases supplier bargaining power.
Threat of new substitutes: Substitutes like solar and wind power pose significant threat due to declining costs.
Competitive rivalry: Strong competition exists among existing players driving technological innovation and cost reductions.

SWOT Analysis
Strength: Hydropower is a clean and renewable source of energy generation. Low operating costs make it a viable renewable alternative.
Weakness: High initial investment required for infrastructure development. Environmental and social impacts of dam construction.
Opportunity: Increasing global focus on declining carbon footprint and rising energy demand drives hydropower market growth. Favorable government policies and incentives boost sector expansion.
Threats: Climate change impacting hydrology and water availability for power generation. Depletion of suitable river locations hampers capacity addition.

Key Takeaways
The global hydropower market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing global focus on renewable sources of energy to meet rising demand and curb dependence on fossil fuels.

Regional analysis Asia Pacific dominates the global market and is expected to maintain its lead over the forecast period. This is attributed to the presence of major developing economies like China and India. China accounts for over 30% of the global hydropower installed capacity.

Key players Key players operating in the hydropower market are General Electric Company, Siemens AG, Andritz AG, Voith GmbH & Co. KGaA, China Yangtze Power Co. Ltd, PJSC RusHydro, Électricité de France SA (EDF), and Iberdrola SA. General Electric, Siemens, and Andritz are technology providers while China Yangtze Power, RusHydro, EDF and Iberdrola are utilities with large operational hydropower plants.

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