Westford, USA, Feb. 22, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, the global small hydropower market has experienced remarkable growth, driven by its status as a sustainable and renewable energy solution. Small hydropower generates electricity from hydroelectric power plants with capacities typically ranging from a few kilowatts to several megawatts. Several factors are propelling the expansion of this market. These include the increasing focus on clean and sustainable energy sources due to environmental concerns and the need to reduce greenhouse gas emissions.
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Browse in-depth TOC on the "Small Hydropower Market"
- Pages - 157
- Tables - 91
- Figures – 76
The global shift towards reducing greenhouse gas emissions and combatting climate change has significantly accelerated the adoption of renewable energy sources. Small hydropower projects are proving to be instrumental in this endeavor, substantially contributing to achieving these environmental goals in the global small hydropower market.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 2.13 Billion |
| 2031 Value Projection | USD 2.71 Billion |
| CAGR | 2.7% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Global Small Hydropower Market
- General Electric
- Voith GmbH
- Andritz AG
- Siemens AG
- Agder Energi AS
- Alstom Hydro
- Statkraft AS
- RusHydro
- Duke Energy Corporation
- BC Hydro
- Ontario Power Generation
- SSE plc
- Brookfield Renewable Partners LP
- Innergex Renewable Energy Inc.
- National Grid plc
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Small Hydropower Segment has Risen Significantly due to its Remarkable Capability
Small hydropower, occupying a capacity range of 1 MW to 30 MW, is the largest and most influential segment in the global small hydropower market. Its supremacy can be attributed to its remarkable capability to harness hydroelectric power while catering to a broader spectrum of consumers. This segment's versatile capacity range allows it to serve diverse energy needs, from powering remote villages and industries to supporting urban areas. It is a highly adaptable and impactful contributor to the global energy landscape.
Latin America has emerged as the fastest-growing region in the global small hydropower market as of 2022, and this expansion can be attributed to several key factors. Countries in Latin America, including Brazil, Colombia, and Peru, have notably recognized the substantial potential of small hydropower projects in aligning with their renewable energy objectives and reducing their reliance on fossil fuels.
Mini Hydropower Segment to Dominate Market due to Continuous Advancements in Communication Technologies
Mini hydropower segment has emerged as the fastest-growing sector within the global small hydropower market. Boasting a capacity range of 101 kW to 1 MW, mini hydropower projects have experienced a surge in adoption primarily because of their suitability for decentralized electricity generation.
Asia-Pacific has solidified its position as a powerhouse in small hydropower generation owing to a combination of factors. This dominance is accounted underpinned by to the region's abundant water resources, rapidly expanding economies, and surging energy demands in the global small hydropower market. Key countries in the region, particularly China, India, and Japan, have made substantial investments in small hydropower infrastructure.
A comprehensive analysis of primary global small hydropower market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Global Small Hydropower Market
- In 2023, Smarkraft AS made a notable announcement regarding a strategic collaboration with HYDROGRID. This partnership aims to enhance the sustainability and efficiency of Smarkraft's hydropower operations. The collaboration leverages real-time predictive planning technology to optimize the management of their hydropower facilities, enabling more effective energy generation and resource utilization.
- The International Finance Corporation (IFC) recently revealed a significant partnership geared toward developing small hydropower projects in Burundi, East Africa. Specifically, the collaboration is focused on advancing the region's Dama and Siku small hydropower projects.
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Key Questions Answered in the Global Small Hydropower Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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