Small Hydropower Market:
The GMI Research expects the small hydropower market to expand at an increasing rate. From a regional perspective, the Asia-Pacific region is expected to grow at a higher CAGR due to the growing investments in rural electrification and off-grid energy generation in economies such as India, China, and Vietnam. The rising requirement to supply electricity in remote areas and the growing environmental concerns will drive the market's demand.
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Small Hydropower Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global small hydropower market size is predicted to witness an upsurge in demand during the forecast period due to the decreasing dependency on conventional resources, growing focus towards rural electrification in developing and underdeveloped countries, and low maintenance cost and capital investment. Renewable power generation helps economies in meeting sustainable development goals through the provision of access to reliable, secure, clean, and affordable energy. Large capacity hydropower systems are being installed worldwide every year. Additionally, in recent years, the decrease in renewable energy technology prices owing to research and development and increased developments. Small hydropower plants can be constructed through existing dams or via a running river, which decreases about 45% cost of civil construction and results in a low capital cost. Small hydropower plants have less operational cost as it needs less labor management and site maintenance. The low capital and maintenance cost regarding the installation of a small hydropower plant is anticipated to boost the growth of the small hydropower market share in terms of revenue. On the other hand, the factors hindering the growth of the small hydropower market include the cost of operating small hydropower plants compared to New Solar Photovoltaic (PV) and Onshore Wind Power is high.
Component Segment Drivers
Based on component, the market is segmented into electromechanical equipment, electric infrastructure, and civil works. The civil work segment is projected to grow at a higher CAGR during the forecast period. Civil work covers the maximum share of project costs in small hydropower projects. They offer proper guidance related to water on turbines and improve the water head and civil structures. The simple public infrastructure is less costly as compared to large hydropower plants, however, it accounts for a larger share of the total project cost.
Small Hydropower Market’s leading Manufacturers:
• Voith GmbH & Co
• ANDRITZ Inc
• GE Renewable Energy
• Toshiba Corporation
• Siemens AG
• Bharat Heavy Electrical Ltd (BHEL)
• Gilbert Gilkes & Gordon
• Flovel Energy Pvt. Ltd
• Alstom S.A.
• StatKraft AS
Small Hydropower Market Segmentation:
Segmentation by Capacity:
• Up to 1 MW
• 1–10 MW
Segmentation by Type:
• Micro Hydropower
• Mini Hydropower
Segmentation by Component:
• Electromechanical Equipment
o Turbine
o Generator
o Other Equipment (includes inlet valves gates, penstock, governors, and auxiliaries)
• Electric Infrastructure
• Civil Works
• Others (includes engineering, structural, management, environmental mitigation, and project development)
Segmentation by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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