Hydropower industry report that analyzes market by industry outlines increasing demand for Hydropower Market will help market grow in 2025 with good CAGR
Progressive Markets added a detailed report titled, "Hydropower Market- Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025". As per the findings of the detailed analysis carried out by expert analysts, the global hydropower market is expected to grow at a considerable CAGR during the forecast period.
Hydropower, a renewable source of energy, is acquired from the kinetic energy of water in motion. It is a highly efficient method for the generation of electricity and has the largest energy payback ratio.
The basic components of a hydropower plant include a dam to regulate the flow of water and a reservoir to store the surplus volume of water. The plant also consists of an electric unit to generate electricity.
Despite the high initial investments involved in setting up a hydropower plant, it is one of the most affordable and cleanest sources of energy. The absence of fossil fuels eliminates the possibilities of harmful impacts on the environment in the form of toxic wastes or greenhouse gas emissions.
These plants have gained widespread popularity owing to their added benefits such as flood control, water management, and the ability to respond to fluctuating demands for electricity and generate electricity during peak times. More than 15% of the world's electricity is produced using hydropower, with Canada, Brazil, Russia, China, and the U.S. at the forefront of the hydropower industry. The U.S. Department of Energy, 2013, stated that the total operational hydropower capacity of 2,198 plants in the U.S., totaled to 79.64 Gigawatts (GW).
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Drivers & Restraints:
Several factors contribute to the growth or failure of the global hydropower market. The report delves into the top impacting factors such as the drivers, restraints, and opportunities available in the market for the organizations to grow.
The growing concerns regarding the demand exceeding the supply of fossil fuels have fueled the need for alternate sources of energy. The rise in the number of initiatives undertaken by the government to provide a cleaner environment and to address the issue of depletion of fossil fuels, drive the growth of the market.
For instance, in 2013 the Hydropower Regulatory Efficiency Act and Small Conduit Hydropower Development and Rural Jobs Act, passed by Barack is expected to lead to the development and drive the capacity of hydropower in the U.S. The global demand for energy is at its peak owing to the rapid industrialization, thus propelling the growth of the hydropower market.
However, setting up a hydropower plant involves building dams on rivers to control the water flow. Damming rivers may lead to the destruction of the flora and fauna of the affected area.
The destruction of natural resources and human habitats restricts the growth of the global hydropower industry.
The report analyzes the global hydropower plant across three major segmentations- technology, application, and the geography. Based on the technology, the market is classified as run-of-river hydropower, pumped-storage hydropower, storage hydropower, offshore hydropower, and others.
The applications of hydropower include the residential, industrial, and commercial sectors. The report analyzes the presence of the market in the regions of Asia-Pacific, Europe, North America, and LAMEA.
The report includes the global hydropower market share analysis (2014-2025) of each of the aforementioned segments.
Key Market Players:
The leading players that account for the largest hydropower market size include GE Energy, Sinohydro Corporation, IHI Corporation, CPFL Energia S.A., Alstom Hydro, Andritz AG China, Three Gorges Corporation, ABB Ltd., China Hydroelectric Corporation, and Gerdau S.A. The report presents an overview of the organization, its financials and business segments, and the recent developments made by them in the global hydropower industry.
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Key Benefits of the report:
The hydropower industry report presents a comprehensive analysis of the current and emerging market trends and highlights the market dynamic factors such as the major drivers and restraints. Quantitative analysis of the market assists in identifying the prevailing opportunities in terms of growth and profitability.
Porter's Five Forces Model studies the influence of the bargaining powers of buyers and suppliers, the threat of new entrants and substitute products, and the intensity of competitive rivalry in the market. The hydropower market forecast by region of each of the market segments is based on the historic data and aids the market players in making informed decisions.
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