(MENAFN- IMARC Group)
IMARC Group's report titled“ Small Hydropower market Report by Capacity (Up to 1 MW, 1-10 MW), Component (Turbine, Generator, Electric Infrastructure, Intake Valves and Penstock, and Others), and Region 2024-2032 “, The global small hydropower market size reached US$ 2.3 Billion in
2023. Looking forward, IMARC Group expects the market to reach US$ 2.8 Billion by
2032, exhibiting a growth rate (CAGR) of 2.43% during
2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/small-hydropower-market/requestsample
Factors Affecting the Growth of the Small Hydropower Industry:
Renewable Energy Policies:
Governing agencies of several countries are encouraging small hydropower by providing various incentives, subsidies, and regulatory frameworks. These policies encourage manufacturers to invest in small hydropower projects. In addition, they are focusing on renewable energy sources like hydropower to reduce carbon emissions, enhance energy security, and foster sustainable development. Apart from this, the rising focus on clean energy sources to maintain sustainability goals is contributing to the growth of the market. Furthermore, governing authorities are implementing stringent regulations on environmental pollution, which is bolstering the market growth.
Small hydropower projects contribute to energy security by diversifying the energy mix and reducing dependency on fossil fuels. Moreover, small hydropower offers a reliable and indigenous energy source in regions prone to energy supply disruptions or reliant on costly imported fuels. Besides this, countries can enhance their energy independence, mitigate geopolitical risks, and ensure a stable electricity supply by utilizing local water resources. This aspect is particularly vital for developing economies trying to meet growing energy demand while reducing vulnerability to external energy shocks. Furthermore, small hydropower is an attractive option for enhancing energy security and resilience.
Small hydropower projects have a lower environmental impact as compared to large-scale hydropower dams. They involve less land inundation, reduced habitat disruption, and minimal greenhouse gas (GHG) emissions, making them eco-friendly alternatives for electricity generation. In line with this, governing agencies of various countries and stakeholders are increasingly prioritizing sustainable energy solutions to mitigate climate change and biodiversity loss. Furthermore, small hydropower projects can provide clean and renewable energy without ecological harm, which is contributing to the growth of the market.
Leading Companies Operating in the Global Small Hydropower Industry:
ANDRITZ BHEL Canyon Hydro GE Renewable Energy Gilbert Gilkes & Gordon Ltd. HNAC Technology Mavel Siemens SNC-Lavalin Toshiba Voith
Small Hydropower Market Report Segmentation:
By Capacity:
Up to 1 MW represents the largest segment as it has a minimal environmental impact as compared to large dams and hydropower plants.
By Component:
Turbine Generator Electric Infrastructure Intake Valves and Penstock Others
Turbine holds the biggest market share due to its ability to convert various forms of energy, typically fluid or gas flow, into mechanical power.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Asia Pacific enjoys a leading position in the small hydropower market, which can be attributed to the increasing focus on generating renewable energy sources to fulfill energy demands.
Global Small Hydropower Market Trends:
Small hydropower projects offer opportunities for decentralized energy generation, particularly in remote and off-grid areas lacking access to centralized electricity infrastructure. Decentralization enhances energy access, stimulates economic development, and reduces transmission losses associated with long-distance electricity distribution. Moreover, it empowers local communities to take ownership of their energy resources, fostering resilience and self-sufficiency.
In line with this, advancements in turbine technology, control systems, and materials are making small hydropower projects more efficient and cost-effective, which is contributing to the growth of the market. Furthermore, small hydropower projects can serve water management purposes, such as flood control, irrigation, and water supply.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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