Small Hydropower Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Small Hydropower Market

The Small Hydropower Market size was valued at USD 1.70 USD billion in 2023, and the market is now projected tgrow t2.75 USD billion by 2032, exhibiting a CAGR of 3.61% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Small Hydropower Market growth.

The need for green and ecological energy sources is growing in both developed and developing countries due tgrowing concerns about climate change and GHG emissions from traditional fossil fuels. Small hydropower offers economic, social, and environmental benefits like increasing industrial competitiveness, creating jobs for everyone, and raising incomes. It is an established technology that can be efficiently designed, operated, and maintained locally and has incredible untapped potential in many areas. Energy is one of the most important economic, environmental, and development issues facing the world today. These particular growth driving factors have been recorded tattribute the Small Hydropower Market Share.

The market is expanding as a result of growing demand for renewable energy sources, rural electrification, applications in the residential and commercial sectors, environmental concerns, and government backing. It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. These situations emphasize the value of non-renewable energy independence and diversification. The most widely used renewable energy source is hydropower, according tthe International Renewable Energy Agency (IRENA). Hydropower plants, on the other hand, need proper planning and design in order tmitigate negative environmental effects and guarantee sustainable operation.

Comprehensive Analysis of Small Hydropower Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. Small hydropower is separated inttwsegments based on capacity: those under 1 MW and those between 1 and 10 MW. SHPs, alsknown as mini-hydro, with capacities ranging from 100kW t1MW are easily utilized for standalone, mini-grid, or grid-connected applications. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all. The market for small hydropower is dominated by small hydropower with a capacity of 1–10 MW. The majority of small hydropower's production capacity is accounted for by this segment. Projects with 1–10 MW small hydropower plants typically have lower investment costs per kW than those with less than 1 MW. Small hydropower, ranging from 1 t10 MW, has a higher installed capacity and head.

The majority of the global industry landscape for the SHP market is occupied by Asia-Pacific. China's market share has dominated the region over the past ten years due tthe Chinese government's consistent emphasis on building small hydropower. Building SHPs in China was first intended tprovide energy tmountainous regions in conjunction with small-scale water conservation initiatives. Asia has the largest installed capacity of small hydropower, whereas the Pacific area has the lowest proportion, according tour market data. More than 65 percent of the installed capacity worldwide is located in the Asia-Pacific area combined. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Innergex (Canada), Blue World Power Energy and Resources (India), Gravity Renewables (U.S.), Pernix Group, Inc. (U.S.), Dulas Ltd (U.K.), Voltalia (France), Velcan Energy (China), SN Aboitiz Power, Inc. (Phillippines), Green Highland Renewables Ltd (U.K.), and Voith Group (Germany).

In July 2021, In Japan, the Croatian transport, electrical, and energy company KONČAR announced its first-ever contract tdesign, produce, and oversee three generator assemblies for twsmall hydropower projects (SHPPs). This particular company has attributed the market growth in terms of revenue and shares system. According tthe corporation, the project will finish its first phase following the commissioning of a synchronous generator with a nominal power of 5.2 MVA, and the second phase will follow the designation of a synchronous generator with a nominal power of 5.2 MVA.

Segmentation Table

Attribute Details

By Capacity Below 1 MW

1 – 10 MW

By Geography North America (the USA and Canada)

Europe (UK, Germany, France, Italy, Spain and Rest of Europe)

Asia Pacific (China, India, Australia, Japan, Southeast Asia and Rest of Asia Pacific)

Latin America (Mexico, Brazil and Rest of Latin America)

Middle East & Africa (CongDR, South Africa and Rest of the Middle East & Africa)