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Hydro Electricity Global Market Report 2022

·3-min read

Major players in the hydropower generation market are Alstom Power, GE Energy, Tata Power Company, Hydrochina International, CPFL Energia, Sinohydro Corporation, RusHydro, Andritz, Agder Energi SA, GE, Voith Group, ABB Ltd.

New York, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hydro Electricity Global Market Report 2022" - https://www.reportlinker.com/p06193690/?utm_source=GNW
, Duke Energy, Acciona Energia, S.A, Ontario Power Generation, Statkraft, Nepal Electricity Authority, Hydro-Quebec, Georgia Power, Mitsubishi Heavy Industries Ltd., MidAmerican Energy Holdings Company, Ertan Hydropower Development Company Ltd., OJSC Bashkirenergo, China Three Gorges Corporation, China Hydroelectric Corporation, IHI Corporation, BC Hydro, EDP Energias do Brasil SA, China Yangtze Power Co. Ltd. and Vattenfall AB.

The global hydropower generation market is expected to grow from $261.97 in billion 2021 to $297.49 billion in 2022 at a compound annual growth rate (CAGR) of 13.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $480.76 billion in 2026 at a CAGR of 12.7%.

The hydropower generation market consists of sales of hydropower energy and related services.The hydropower generation industry includes companies that are mainly involved in operating hydropower generation facilities to produce electricity.

Hydropower stations convert the kinetic energy of flowing or falling water into electrical energy and which is provided to power transmission systems.

The main types of products in hydropower generation are dike type, diversion hydropower station, mixed type, tide, pumped storage.A diversion hydropower station, often known as a run-of-river facility, directs a section of a river through a canal and/or a penstock to generate energy by utilising the natural drop in river bed height.

The different capacities include large, medium, small and is applied in residential, commercial, industrial sectors.

Companies in the hydropower generation market are upgrading their technologies to make them more sustainable.They are investing to increase the efficiencies of hydropower plants to make them compatible with the environment.

For instance, in 2021, the hydropower generation companies such as EPCG and ERS introduced the construction on hydropower plant (HPP) Sutorina to increase their performance and making them more environmentally friendly.

Favourable laws in emerging countries are projected to drive the hydropower generation market.Governments across the globe are introducing policies that aid the growth of hydropower generation market.

For instance, in 2019, in India, according to Press Information Bureau, the union cabinet of India has approved major hydropower projects (HPO) as part of the non-solar renewable purchase obligation (RPO). Introduction of favourable laws will boost the demand for hydropower and in turn drive the market.

In August 2021, ReNew Power, an India based renewable energy company acquired Larsen & Toubro for $13.25 million (INR 985 crores). This acquisition bolsters ReNew Electricity’s ability to offer reliable, round-the-clock power to the grid, complementing its solar and wind assets and addressing a key gap in its portfolio. Larsen & Toubro is an India based company that offers hydropower generation.

The regions covered in the global hydropower generation market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the hydropower generation market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia.


Read the full report: https://www.reportlinker.com/p06193690/?utm_source=GNW

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