According to the latest report by IMARC Group “Small Hydropower Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global small hydropower market is expected to grow at a CAGR of around 3% during 2021-2026.
The power generation technology that transfers kinetic energy from flowing water into electricity is known as small hydropower (SHP). It is used for low-to-medium electrical requirements, such as lights and telecommunications. SHP plants are typically placed in small rivers, streams, or existing water supply networks since they have no or minor environmental impact when compared to large-scale hydropower facilities.
The key drivers driving the global small hydropower market are rising demand for renewable energy sources and increased investment in hydropower projects as a result of growing environmental concerns. Other key growth-inducing elements include multiple initiatives launched by governments of various nations to promote rural electrification, as well as the establishment of financial incentives and favorable policies for sustainable development. Furthermore, technical improvements that enable automation and restricted electricity production in the face of significant weather fluctuations are adding to market growth. Other factors, such as the upgrading of abandoned hydro plants and increased electricity consumption, are expected to contribute to a good market outlook.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ANDRITZ AG (ADRZF)
- Bharat Heavy Electricals Limited
- CANYON FPO (CAY.AX)
- GE Renewable Energy
- Gilbert Gilkes & Gordon Ltd.
- HNAC Technology
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Capacity:
- Up to 1 MW
- 1-10 MW
Breakup by Component:
- Electric Infrastructure
- Intake Valves and Penstock
Market Breakup by Region:
- 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
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