Global Hydropower Generation Market

According to a new report published by Introspective Market Research, titled, “Hydropower Generation Market by Capacity, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2024–2032,”

Hydropower Generation Market Size Was Valued at USD 251.75 Billion in 2023 and is Projected to Reach USD 424.24 Billion by 2032, Growing at a CAGR of 5.97% From 2024-2032.

Generating electricity through hydropower is a technique that taps into the energy of flowing or descending water. This renewable energy method entails capturing the kinetic energy inherent in water and transforming it into electrical power through the utilization of turbines and generators.

Hydropowerstands out as a clean and sustainable source of energy, playing a pivotal role in the global generation of electricity and contributing to an eco-friendly and environmentally conscious power supply. Hydropower generation holds a prominent position in the realm of renewable energy. Amid escalating concerns over climate change and an increasing focus on clean energy, hydropower has emerged as a dependable and well-established technology. Its robust market presence is buoyed by the abundant availability of water resources, the well-established infrastructure of hydroelectric plants, and a consistently reliable energy output. Governments and industries worldwide are channeling investments into hydropower projects, aiming to meet energy demands while concurrently reducing reliance on fossil fuels.

The trajectory of hydropower generation indicates sustained growth. This expansion is propelled by continuous technological advancements, including heightened turbine efficiency and improved grid integration. Moreover, the adaptability of hydropower as a dispatchable energy source renders it invaluable for mitigating the variability associated with other renewables such as solar and wind. The global push towards carbon neutrality and sustainable energy solutions further solidifies hydropower's position as a pivotal player in fulfilling future energy needs while minimizing environmental impact.

The Hydropower Generation Market is segmented into Capacity, Technology, Application, and region. By Capacity, the market is categorized into Small Hydro Power Plant (Up to 1MW), Medium Hydro Power Plant (1MW - 10MW), and Large Hydro Power Plant (Above 10MW). By Technology, the market is categorized into Run-of-the-river, Pumped Storage and Impoundment. By Application, the market is categorized into Commercial, Industrial, and Residential. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

The escalating global energy demand serves as a significant driver propelling the growth of the Hydropower Generation Market. As populations increase and economies expand, the need for reliable and abundant energy sources becomes imperative. Hydropower, being a renewable and efficient energy solution, addresses this demand by providing a consistent and substantial power supply. Its ability to generate electricity on a large scale makes hydropower an attractive option to meet the rising energy needs of both developed and developing nations.

The increasing global focus on renewable energy sources stands as a key catalyst propelling the expansion of the Hydropower Generation Market. With escalating concerns about climate change, concerted efforts are underway to shift away from fossil fuels and embrace sustainable alternatives. Hydropower, as a stalwart in the realm of renewable energy, gains prominence in this scenario due to its reliability and well-established technology. Governments and industries on a global scale are progressively acknowledging the necessity of reducing reliance on non-renewable sources, with hydropower standing out as a proven and accessible solution.

Global Hydropower Generation Market, Segmentation

The Hydropower Generation market is segmented based on Capacity, Technology, and Application, And Region.

Application:

The Commercial segment is asserting dominance in the Hydropower Generation Market due to a combination of economic and environmental factors. Commercial entities, driven by a growing emphasis on sustainability and corporate responsibility, are increasingly adopting hydropower solutions to meet their energy needs. The reliable and consistent power output of hydropower aligns with the operational demands of commercial establishments, providing a stable energy source. Additionally, the long-term cost-effectiveness of hydropower installations is appealing to businesses seeking to minimize operational expenses and secure a sustainable energy future. As global concerns over climate change intensify, commercial enterprises are also motivated to reduce their carbon footprint, making hydropower an attractive choice with its low environmental impact.

Capacity:

The market is predominantly led by the segment of Large Hydro Power Plants (Above 10MW), and several compelling reasons contribute to its significant share. the economies of scale associated with these large hydroelectric projects role in establishing their dominance. These plants possess the capacity to generate substantial amounts of electricity, catering to the energy demands of populous regions and industrial sectors. The efficiency and reliability inherent in large hydropower plants make them an attractive choice for governments and utilities aiming for a stable and uninterrupted power supply.

Region:

The region's rapid economic expansion and urbanization have spurred a significant rise in electricity demand. Large hydro projects, with their capacity for substantial power generation, role in meeting this growing energy requirement. Governments in nations such as China, India, and Southeast Asia prioritize the strategic development of large hydroelectric facilities to ensure energy security and support industrial growth. The Asia Pacific region boasts abundant and suitable geographical features, including large rivers and mountainous terrains.

Some of the leading Hydropower Generation market players are

• Ge Power (U.S)
• Cleanhydro Solutions (U.S)
• Hydro-Québec (Canada)
• Rushydro (Russia)
• Electricite De France (Edf) (France)
• Alstom (France)
• Voith Group (Germany)
• Patrizia Ag (Germany)
• Andritz Hydro (Austria)
• Verbund Ag (Austria)
• Centrais Eletricas Brasileiras (Eletrobras) (Brazil)
• Energo-Pro (Czech Republic)
• Statkraft As (Norway)
• China Yangtze Power Co. Ltd. (China)
• China Three Gorges Corporation (China), and Other Active Players.

Key Industry Developments

• In October 2023, Statkraft, a major player in renewable energy, completed the acquisition of Njordr Offshore Wind AB and Svevind Nordic AB, significant players in offshore and onshore wind power, respectively. This move strengthens Statkraft's position in Sweden's renewable energy market and aligns with their commitment to global energy transition. Roschier provided advisory support to Statkraft in these transactions, highlighting the strategic importance of the acquisitions.
• In September 2023, RusHydro has launched Krasnogorsk Small HPPS, which has a total capacity of 49.8 MW in the Karachay-Cherkess Republic. The investment project was implemented as part of the state's programme for renewable energy development.

 Key Findings of the Study / Key Industry Developments. 

• The segment of Large Hydro Power Plants (Above 10MW) leads the Hydropower Generation Market. The economies of scale associated with these large projects enable them to generate substantial amounts of electricity, catering to the energy needs of densely populated regions and industrial sectors. Their efficiency and reliability make them an attractive option for governments and utilities seeking stable and uninterrupted power supplies.
• The Asia Pacific region is experiencing rapid economic expansion and urbanization, which has significantly increased electricity demand. Large hydro projects are crucial in meeting this growing energy requirement. Governments in countries like China, India, and Southeast Asia are strategically prioritizing the development of large hydroelectric facilities to ensure energy security and support industrial growth.