Hydropower Market is estimated to be US$ 379.68 billion by 2030 with a CAGR of 6.1% during the forecast period
Hydropower Market accounted for US$ 209.90 billion in 2020 and is estimated to be US$ 379.68 billion by 2030 and is anticipated to register a CAGR of 6.1%. Hydropower is often referred to as hydroelectricity or hydro energy. Flowing water and spring runoff from mountain streams and lakes are used to generate hydropower. Turbines and generators that produce power can be turned by high-speed flowing water. The capacity of hydropower facilities to create energy is around 30 MW. The capacity of a small hydropower plant is typically between 100 KW and 30 MW.
The report "Global Hydropower Market, By Type (Mini, Micro and Pico-Hydro Plants, Small, and Large), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast Till 2029’’
Key Highlights:
· In September 2021, The Hydropower Sustainability Council (HSC) has launched an ESG performance benchmark to increase transparency in the industry and offer investors more confidence in funding new projects.
· In June 2021, China unveiled two units of a gigantic hydroelectric station in the country's southwest, claiming to be the worlds largest and costing around USD 34 billion.
Analyst View:
The worldwide hydropower market is being driven by rising demand for electricity as a result of increased urbanization and industrialization around the world. Furthermore, increased deployment of renewable energy sources and growing environmental concerns are driving global market expansion. Furthermore, the worldwide hydropower industry is growing due to favorable government policies toward economic development and a number of measures to lessen reliance on conventional energy sources. Furthermore, rising technological breakthroughs in hydropower, such as increasing electricity producing capacity and efficiency of hydropower plants, are factors that are projected to propel hydropower market expansion in the near future.
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Key Market Insights from the report:
Global Hydropower Market accounted for US$ 209.90 billion in 2020 and is estimated to be US$ 379.68 billion by 2030 and is anticipated to register a CAGR of 6.1%. Global Hydropower is segmented into type and region.
· Based on Type, the Global Hydropower Market is segmented into Mini, Micro and Pico-Hydro Plants, Small, and Large.
· By Region, the Global Hydropower Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Hydropower Market:
The key players in the Global Hydropower Market includes Acciona SA, Agder Energi AS, Andritz Hydro Corp., British Columbia Hydro and Power Authority, Centrais Eletricas Brasileiras SA, China Yangtze Power Co. Ltd, Duke Energy Corp., RusHydro Company, and Voith Hydro Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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