Hydropower Market Set to Witness an Uptick during 2019 to 2020


The global installed capacity for hydropower is expected to reach 1,524 GW by 2020, according to a new study by Grand View Research, Inc. Cost advantages of hydropower based electricity generation and the substitution of fossil fuel based power production in an attempt to reduce carbon emission is expected to drive market demand. According to the estimates of the International Energy Agency (IEA), the deployment of sustainable hydropower as proposed by this organization will help avoid approximately one billion tones of annual carbon dioxide emission by 2050.

Rapid rise in demand for renewable energy especially in China, India and Brazil and the construction of key hydropower projects including the installation of 32 turbines and the completion of the third phase of the Three Gorges Dam in China in 2012, will fuel the future growth of this market. Supportive regulatory framework for sustainable energy in the U.S. and European Union is also expected to have a positive impact on market demand. Implementation of favorable government regulations such as the Hydropower Regulatory Efficiency Act and Small Conduit Hydropower Development and Rural Jobs in the U.S. and growing number of funding programs pertaining to the renewable energy sector in developed countries such as Italy and Canada are some of the factors which are expected to present future growth opportunities.

Key players of this market include GE Energy, CPFL Energia S.A., Sinohydro Corporation, Andritz AG, IHI Corporation, Alstom Hydro, China Hydroelectric Corporation, China Three Gorges Corporation and ABB Ltd., Gerdau S.A., The Tata Power Company, OJSC Bashkirenergo,EDP Energias do Brasil SA, Companhia Energetica de Minas Gerais and Ertan Hydropower Development Company, Ltd

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https://www.grandviewresearch.com/industry-analysis/hydropower-industry/request/rs4

One of the most popular renewable power generation technologies includes hydropower which does not cause any greenhouse gas emissions and toxic waste. After building a dam and installation of equipment the source of energy i.e. flowing water is free therefore making hydropower is one of the cheapest ways to generate electricity.

Further Key findings from the study suggest:
  • Industrial applications dominated demand in 2012, accounting for over 40% of the global installed capacity. The global industrial applications market is expected to reach 694.41 GW in installed capacity by 2020.
  • Asia Pacific is expected to be the most dominant regional market by 2020, with China expected to lead hydropower consumption. China is also expected to be the fastest growing market, at an estimated CAGR of 6.2% from 2013 to 2020, to reach an installed capacity of over 400 GW in 2020. The presence of an extensive amount of hydropower projects currently under construction will drive this market.
  • Some of the prominent hydropower projects in China include the Baihetan dam (expected to be completed in 2019), the Wudongde and Xiangjiaba dam (expected to be completed in 2015) and the Xiluodo project.
  • Key players of this market include GE Energy, Andritz AG, China Hydroelectric Corporation, China Three Gorges Corporation, American Hydro Corporation, Alstom Hydro, The Tata Power Company, ABB Ltd and others.
Installation of hydropower has registered a stable growth , as it provides more reliable, clean and affordable power demand as many countries pursue options to meet the carbon reduction goals due to rise in environmental issues.
It is one of the cleanest fuel sources which get renewed regularly by rainfall and snow. Hydropower is readily available because according to the demand and requirement the flow of water can be controlled through turbines by engineers and the reservoirs may also offer recreational opportunities and activities such as boating and swimming.
Approximately one-fifth of the world’s total electricity is provided by hydropower. It is used by more than 60 countries worldwide to meet half of their electricity demand. Hydropower is also popular for a variety of reasons some of which includes water management, flood control and its ability to respond to fluctuating electricity demand.

Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-hydropower-market

In addition, hydropower is considered to be the cleanest renewable technology for power generation which makes it even more attractive. Hydropower has been receiving enormous support from governments of various nations in the form of tax benefits and financial incentives around the world owing to such factors.
Currently, hydropower accounts for 20% of the total installed renewable power capacity, globally and is expected to increase its share over the next decade owing to rapid capacity additions mainly in emerging economies of China, India, and Indonesia. As per the International Hydropower Association (IHA), new hydropower of some 30 GW was empowered in 2012 which included pumped storage of 2 GW. The global hydropower market is expected to grow at a CAGR of 3.9% from 2014 to 2020

Grand View Research has segmented the global hydropower market on the basis of application:
Hydropower Application Outlook
  • Industrial
  • Residential
  • Commercial
Key application segments covered in this report include industrial, residential and commercial.
In July 2013, GE Energy announced to finance the GATI Infra for hydro power project.
Industrial held the largest share of the market accounting for 44.8% in 2013 due to rapid industrialization in emerging economies of Asia-Pacific such as India and China.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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