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A report on Global Hydropower Generation Market was added by Kenneth Research which covers the market size and growth over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools. It is anticipated to grow at a significant CAGR during the forecast period. This can be attributed to the growth in the energy and power industry at a global scale.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Hydropower Generation Market products.
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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.
Global Hydropower Generation Market has valued at approximately $202.4 billion in 2019 , and is projected to reach $317.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027. Hydropower is the most consistent and cost-effective renewable power generation technology where power is obtained from the energy of water moving from higher to lower altitudes. This technology is a proven and price-competitive technology. Hydropower generation has the best efficiencies of conversion of all recognized energy sources. It shows high flexibility, reliability, and variety in project scales and sizes, which gives hydropower the ability to meet large centralized industrial and urban needs as well as decentralized rural needs. Further, the conversion productivity of a hydroelectric power plant mainly depends on the type of water turbine is employed and it can be as high as 95% for large installations. Whereas, smaller plants which has output powers not more than 5 MW may have efficiency range between 80-85%. Increasing electricity consumption, introduction of stringent regulations to minimize carbon emissions and low maintenance cost are the few factors responsible for high CAGR of the market over the forecast period. For instance: according to the study conducted by International Energy Agency (IEA), it has been analyzed that the global electricity consumption has reached 22,015 TWh in 2017, which was earlier approx. 6,799 TWh since 1980. Moreover, growing efforts towards the development of renewable technologies are the major factors likely to create lucrative growth opportunity to the market in the upcoming years. However, limited availability of reservoirs is the major factor anticipated to hindering the growth of global Hydropower Generation market during the forecast period.
The regional analysis of global Hydropower Generation Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share due to the increasing hydropower generation capacity in countries such as India and China along with strict norms to minimize carbon emissions in the region. However, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
Major market player included in this report are:
BC Hydro
Hydro-Quebec
Rus Hydro
China Yangtze Power
Agder Energi
Duke Energy Corporation
Georgia Power Company
Ontario Power Generation
Stat Kraft
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Large Hydropower
Small Hydropower
By Application:
Industrial
Residential
Commercial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2022 to 2031
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Target Audience of the Global Hydropower Generation Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Myra Fletcher
Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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