Small Hydropower Market Worth 214 GW by 2026 | Emerging Trend of Using Renewable Sources to Bolster Growth of Market
Fortune Business Insights
6 min read
Fortune Business Insights
Small Hydropower Market Size to Hit 214 GW, at CAGR 3.6% by 2026; Small Hydropower to Leave a Large Impact on the World Owing to its Reliability and Low-cost
Pune, India, July 19, 2022 (GLOBE NEWSWIRE) -- The global small hydropower market size is projected to grow from 170 GW in 2018 to more than 214 GW in 2026 at a CAGR of 3.06 in the forecast period. As per recent research studies, currently there are about 83,000 small hydropower dams worldwide. The number of small hydropower projects is expected to increase, thus favoring growth in the global small hydropower market. Small hydropower is a clean and renewable source of energy. It is a reliable, low-cost, and has better capacity than large hydropower systems.
Fortune Business Insights provided this information into the latest published report titled “ Small Hydropower Market Report 2022”.
By Capacity (Below 1 MW, 1 – 10 MW) and Regional Forecast
Growth Drivers
Asia Pacific to Hold a Lion’s Share Owing to Continuous Developments by China
RusHydro to Build Two Small Hydropower Projects, Each with an Installed Capacity of 24 MW
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.
SHP is categorized into different capacities. These are mini-hydro (100kW to 1MW), micro-hydro (5 kW to 100 kW), and pico-hydro (100 Watts – 5kW). Among these, micro-hydro is expected to lead the global market as it covers around 80% of the share.
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.
Have Any Query? Ask Our Experts:
Innergex
Blue World Power Energy and Resources
Gravity Renewables
Pernix Group, Inc.
Dulas Ltd
Voltalia
Velcan Energy
SN Aboitiz Power, Inc.
Green Highland Renewables Ltd
Voith Group
Mavel a.s.
RusHydro
Marubeni Corporation
PNOC Renewables Corporation
Statkraft
Renewable First Ltd
Energy Eastern Europe Power GmBH
Him Urja Private Limited
Vindhyachal Hydro Power Pvt. Ltd.
Key Benefits for Small Hydropower Market:
The Small Hydropower market analysis covers in-depth information of major industry participants.
Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
Major countries have been mapped according to their individual revenue contribution to the regional market.
The report provides an in-depth analys is of the Small Hydropower market during the forecast period (2018 – 2026).
The report outlines the current market trends and future scenario of the global Small Hydropower market to understand the prevailing opportunities and potential investment pockets.
The key drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
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