The global small hydropower market size is expected to reach USD 2.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.8% from 2022 to 2030. Growing investments in smart “energy-saving” across various end-uses are expected to provide an impetus to the adoption of small hydropower energy for electricity generation. Moreover, an increase in greenhouse gas emissions due to the growing power consumption has fueled the United Nations Industrial Development Organization (UNIDO) and Federal Energy Regulatory Commission (FERC) to adopt certain renewable energy measures. Policies by the Federal Energy Regulatory Commission in order to encourage renewable sources of energy, coupled with the need to deliver energy in rural locations, are expected to foster market growth.
Small Hydropower Market Report Highlights
- In terms of revenue, the micro hydropower type segment accounted for the largest share of over 55.0% in 2021 and is expected to witness steady growth over the forecast period
- The civil construction component segment dominated the market and accounted for a revenue share of more than 30.0% in 2021
- In 2021, Asia Pacific accounted for a revenue share of over 35.0%. The market in this region is led by China, Japan, and India. The reduction in renewable energy costs and the decrease in infrastructure costs promote the rapid production of small hydropower plants in the region, leading to the increasing adoption by mini and micro small hydro facilities in the Asia Pacific
- Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, In October 2021, ANDRITZ, an international technology group offering hydropower generation equipment such as pump turbines, submersible motors, and services for various industries, received a contract worth USD 86.77 million (75 million euros) from the U.S. Army Corps of Engineers based in Tulsa District for the restoration and up-gradation of all four turbines and generators at Robert S. Kerr hydroelectric power plant, located along Arkansas River in Eastern Oklahoma adjacent to the town of Cowlington
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Small hydropower units refer to hydropower systems that have a capacity of less than 10 megawatts (MW). These units typically use the energy from running water to generate electricity, with turbines that convert the kinetic energy of flowing water into mechanical energy that drives generators. Small hydropower systems can be built in a variety of settings, including rivers, streams, and canals. They are considered a renewable and sustainable source of energy, as they do not rely on fossil fuels and produce little to no greenhouse gas emissions. Small hydropower units can be particularly useful for providing electricity to remote areas or for powering individual homes or businesses. However, it is important to carefully consider the potential environmental impact of building a small hydropower system and to ensure that appropriate measures are taken to minimize any negative effects on local ecosystems.
Latest Developments
The small hydropower market has seen significant growth in recent years, driven by increasing demand for renewable energy sources and a shift towards decentralization of power generation. One of the latest developments in this market is the increasing adoption of digital technologies and automation to improve efficiency and reduce operating costs. For example, new monitoring systems that use sensors and data analytics can help optimize hydropower operations by providing real-time information on factors such as water flow rates and turbine performance. Another trend is the use of modular and prefabricated small hydropower units, which can be easily transported and installed in remote areas or in locations with limited infrastructure. This approach can help reduce project costs and accelerate the deployment of small hydropower systems. Finally, there is a growing focus on sustainability and environmental responsibility, with efforts to minimize the impact of small hydropower systems on local ecosystems and to ensure that projects are developed in a socially responsible manner.
The micro hydropower type segment dominated the market and accounted for over 55.0% in 2021. Micro hydropower projects range from less than 1 MW that can provide power for a rural industry or small community in remote areas away from the grid area. The micro hydropower systems consist of essential components including water conveyance channels or pipelines, turbines, pumps, alternators, regulators, and electricity distribution wiring. Commercially available turbines and generators are being sold as a package and require only the assembling of components, which makes the systems easy to manage and replace. Up to 1 MW led the market and accounted for over 55.0% in 2021. They are set up in geographical areas having flowing water through great mountain ranges and their foothills. They are either used as stand-alone systems or, more often, as systems feeding into the grid. The hydropower system of 100 kW capacity is used to power the rural industries, small communities, or remote areas away from the grid.
Civil construction accounted for a substantial share of project costs across all small hydropower projects (SHPPs). Therefore, to correctly led the water onto the turbines and raise the water head level, civil constructions such as weirs (dams) are being built. Hence, these simple constructions are more economical than large hydropower plant projects. The market is anticipated to witness steady growth in all segments as the amount of electricity resources increases. The reduction in renewable energy costs and the decrease in infrastructure costs promote the rapid production of small hydropower plants in the region, leading to the increasing adoption by mini and micro small hydro facilities in the Asia Pacific. The Asia Pacific market is expected to grow during the projected period owing to the investments in off-grid energy generation and rural electrification.
Small Hydropower Market Insights By Region
Asia Pacific dominated the global market led by China, Japan, and India. The reduction in renewable energy costs and the decrease in infrastructure costs promote the rapid production of small hydropower plants in the region, leading to the increasing adoption by mini and micro small hydro facilities in the Asia Pacific. Europe accounted for the second-largest revenue share. Factors including growing concerns over greenhouse gas (GHG) emissions and increasing generation costs through non-renewable resources are projected to drive the adoption of small hydropower over the forecast period. The rising population, coupled with the increasing demand for efficient and clean energy, is expected to propel market growth.
Competitive Analysis By Major Players
The market is characterized by the presence of several key players and a few medium and small-scale regional players. Many of the companies have their own sector that they focus on and have a very high penetration in that sector. Some prominent players in the global small hydropower market include:
- ANDRITZ
- Bharat Heavy Electricals Limited
- FLOVEL Energy Private Limited
- General Electric
- Gilkes
- Natel Energy
- Siemens Energy
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Grand View Research has segmented the global small hydropower market based on capacity, component, type, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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