Small Hydropower Market Size is Expected to Reach 214 GW by 2026 at CAGR of 3.06%
Fortune Business Insights
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Fortune Business Insights
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Pune, India, March 08, 2023 (GLOBE NEWSWIRE) -- The number of small hydropower projects is expected to increase, thus favoring growth in the global small hydropower market. Fortune Business Insights in a new report, titled “Small Hydropower: Global Market Analysis, Insights, and Forecast, 2019-2026” predicts that the market is projected to expand at a CAGR of 3.06%. As per the report, the global market for small hydropower installed 170 GW in 2018 and is expected to cross 214GW by 2026. Small hydropower is a clean and renewable source of energy. It is a reliable, low-cost, and has better capacity than large hydropower systems. As per recent research studies, currently there are about 83,000 small hydropower dams worldwide.
Increasing industrialization in BRIC nations, governments are focusing on remote areas to efficiently supply electricity. Owing to the unavailability of grids in such areas, the demand for small hydropower generators is likely to increase. This will further impact the small hydropower market demand. Moreover, small hydropower plants are mainly suitable in areas with poor grid connectivity. Small hydropower or SHP generates electricity at low prices than other off-grid technologies. SHP is highly flexible and easily adaptable to several infrastructural and geographical circumstances. Enabled by this, the small hydropower market growth is expected to increase in the foreseeable future.
Asia Pacific to Hold a Lion’s Share Owing to Continuous Developments by China
From a geographical standpoint, the small hydropower market in Asia Pacific is expected to dominate the global SHP market through the forecast years. The rising developments made by the Chinese government for the construction of small hydropower plants. “As per installed capacity, Pacific region accounts for the lowest share of SHP, whereas Asia holds the maximum share of SHP. Together, Asia Pacific covers over 65% of the installed capacity of small hydropower,” stated a lead analyst at Fortune Business insights.
The market in India is likely to witness growth between 2018 and 2026. Government initiatives such as Rajiv Gandhi Grameen Vidyutikaran Yojana and SHP Programme by Ministry of New and Renewable Energy (MNRE) are expected to expand the small hydropower market size. Rajiv Gandhi Grameen Vidyutikaran Yojana promotes utilization of renewable energy sources and electrification in rural areas, whereas SHP Programme by Ministry of New and Renewable Energy (MNRE) encourages small hydropower development.
The small hydropower market in Europe is anticipated to grow considerably over the projected horizon. Europe accounts for over 45% of the installed capacity of SHP. The rising trend of adopting renewable technologies is contributing to the growth of the market in this region. In addition to this, better resource availability is another factor stimulating growth in the market in Europe.
Following Europe, Latin America and North America are third and fourth leading regions in the market. The U.S. had over 50% of the installed capacity of SHP, however, currently, it is stagnant. The market is expected to emerge in North America owing to the upgradation of several SHP projects in the U.S.
RusHydro to Build Two Small Hydropower Projects, Each with an Installed Capacity of 24 MW
Several international organizations are conducting initiatives to promote the use of small hydropower across the world. This will create enormous small hydropower market potential in the years to come. Use of SHP has reduced carbon emissions, thus improved the living standards of people. Several companies are planning to construct small hydropower plants, especially in remote areas to promote use of SHP. For instance, a Russian energy company called RusHydro started the construction of two SHP plants in June 2019.
These plants called Krasnogorskaya 1 and Krasnogorskaya 2 have an installed capacity of 24.9 MW and are built on the Kuban River in Russia. The chairman of the company made a statement by saying that small hydropower development has always been an integral part of our business. He added that this project will create 700 new jobs between the start and end of this plant construction. The report profiles some of the other leading companies operating in the small hydropower market. These include Innergex, Blue World Power Energy and Resources, SN Aboitiz Power, Inc., Pernix Group, Inc., Gravity Renewables, Dulas Ltd, Voltalia, and Green Highland Renewables Ltd, Velcan Energy.
Small Hydropower: Global Market Analysis, Insights and Forecast, 2019-2026
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends – For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Global Small Hydropower Market Analysis (MW & US$ Mn), Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast – By Capacity
Below 1MW
1-10MW
Market Analysis, Insights and Forecast – By Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
North America Small Hydropower Market Analysis (MW & US$ Mn), Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis and Forecast – By Capacity
Below 1MW
1-10MW
Market Analysis and Forecast – By Country
U.S.
Canada
U.S. Market Analysis and Forecast – By Capacity
Below 1MW
1-10MW
Canada Market Analysis and Forecast – By Capacity
Below 1MW
1-10MW
Latin America Small Hydropower Market Analysis (MW & US$ Mn), Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis and Forecast – By Capacity
Below 1MW
1-10MW
Market Analysis and Forecast – By Country
Brazil
Mexico
Rest of Latin America
Brazil Market Analysis and Forecast – By Capacity
Below 1MW
1-10MW
Mexico Market Analysis and Forecast – By Capacity
Below 1MW
1-10MW
Rest of Latin America Market Analysis and Forecast – By Capacity
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