Small Hydropower Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Small hydropower refers to the generation of electricity through the use of hydropower systems that typically have a capacity of less than 10 megawatts (MW). These systems harness the energy from flowing or falling water to generate electricity on a smaller scale than larger hydropower plants.

Sizing and Forecast
The small hydropower market size has grown steadily in recent years. It will grow from $2.94 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%.  The  growth in the historic period can be attributed to large supply of water resources, rural electrification, environmental concerns, versatility and low investment costs, financial incentives.

The small hydropower market size is expected to see steady growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%.  The growth in the forecast period can be attributed to  increasing demand for clean energy, increase in greenhouse gas emissions, increase in the production of energy from renewable,increasing installation of small hydropower plants, increase industrialisation. Major trends in the forecast period include integration of iot with hydropower, adoption of digital technologies, technological advancements, geographical expansion.

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Segmentation & Regional Insights
The small hydropower market covered in this report is segmented –
1) By Type: Micro Hydropower, Mini Hydropower
2) By Capacity: Up to 1 MW, 1–10 MW
3)By Application: Civil Construction, Power Infrastructure, Other Applications
4) By End-User: Commercial, Utility-Scale

Asia Pacific was the largest region in the small hydropower market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the small hydropower market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing demand for clean energy is expected to propel the small hydropower market going forward. Clean energy refers to energy sources and technologies with minimal or no negative environmental impact, particularly regarding greenhouse gas emissions and air pollution. Small hydropower systems generate electricity without emitting greenhouse gases or air pollutants during operation, contributing to cleaner air and a lower carbon footprint. For instance, in May 2022, according to the International Energy Agency, a France-based intergovernmental organization, the global renewable capacity is expected to increase by 8% from 295 gigawatts in 2021 to 320 gigawatts in 2022. Therefore, the increasing demand for clean energy is driving the small hydropower market.

Key Industry Players
Major companies operating in the small hydropower market report are General Electric, Siemens Energy, Toshiba Corporation, ANDRITZ, SNC Lavalin Group, Voith GmbH & Co. KGaA, Mavel, a.s., Flowserve Corporation, BHEL, Kolektor Turboinstitut, FLOVEL Energy Private Limited, Mannvit Engineering, VAPTECH, Canyon Hydro, Ganz EEM, ATB Riva Calzoni, Natel Energy, Inc., Canadian Hydro Components, Hitachi Mitsubishi Hydro, B Fouress, HydroCoil Power, Hydro Green Energy, Rentec Renewable Energy Technologies, Gilkes Hydro

The small hydropower market report table of contents includes:
1. Executive Summary
2. Small Hydropower Market Characteristics
3. Small Hydropower Market Trends And Strategies
4. Small Hydropower Market - Macro Economic Scenario
5. Global Small Hydropower Market Size and Growth
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32. Global Small Hydropower Market Competitive Benchmarking
33. Global Small Hydropower Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Small Hydropower Market
35. Small Hydropower Market Future Outlook and Potential Analysis
36. Appendix