The global small hydropower market has a moderately concentrated in nature with a few players holding a key share of the global market, states a research study by Transparency Market Research (TMR). The increasing number of players participating in the market is likely to strengthen the competitive scenario throughout the forecast period.
- Agency -.
The global small hydropower market is majorly dominated by three players, namely Alstom, Andritz Hydro, and Voith. In 2014, these players jointly held a share of 76.0% of the global market.
The growing focus of these players on technological innovations and expansion of their product portfolio are likely to encourage market’s growth in the coming years. However, generation of electricity using solar, biomass, wind, and other renewable sources is expected to augment the threat of substitutes in the global market.
- Agency -.
According to the research study by Transparency Market Research, in 2015, the global small hydropower market had an installed capacity of 117.16 GW and is projected to hold a capacity of 146.65 GW by the end of 2023. The market is likely to register a 2.85% CAGR between 2015 and 2023.
Rising Need for Reliable Energy to Keep Asia Pacific at Forefront
From a geographical perspective, the global small hydropower market has been categorized into North America, Asia Pacific, South and Central America, the Middle East and Africa, and Europe. Among these, Asia Pacific is expected to lead the global small hydropower market throughout the forecast period, thanks to the growing demand for clean and reliable energy.
This region is estimated to hold a share of 69.56% in the global small hydropower market by the end of 2023. In addition, a significant contribution from Malaysia, China, Vietnam, and the Philippines is anticipated to encourage market growth in the coming years.
Furthermore, the introduction of favorable government policies and initiatives and the untapped opportunities in several emerging economies in Asia Pacific are some of the other factors expected to accelerate the growth of the small hydropower market in the forecast period.
Low Maintenance Cost and Capital Investment to Augment Small Hydropower Market
The low generation cost of energy in comparison with other off-grid renewable technologies is one of the primary factors estimated to augment global small hydropower market in the forecast period, states a TMR analyst. In addition, small hydropower offers environmental friendly and clean form of renewable energy, which is estimated to fuel market’s growth in the next few years.
Small hydro setup requires low capital cost, owing to the minimum reservoirs and less civil construction work. This factor is likely to drive the demand for small hydropower technologies in the coming years across the globe.
Furthermore, as small hydropower has a negligible environmental impact as it makes use of the natural flow of the river, there are only a few changes to the channel and steam flow. With such less environmental impact, this market is estimated to witness substantial growth in the next few years.
Category: Market Research Publishers and RetailersCompany profile: Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and littler, more expert concerns. Our online stage, KMInsights.com, offers an unmatched gathering of market examination reports, organization audits, databooks, articles, periodical distributions, databases, on-line endorser administrations, and a great deal m ...
For more information: