Global Hydropower Generation Market Size Study, By Product, and Regional Forecast till 2026
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Global Hydropower Generation Market Size study, by Type (Large Hydropower, Small Hydropower), by Application (Industrial, Residential, Commercial) and Regional Forecasts 2019-2026
Global Hydropower Generation Market is valued approximately at USD XX billion in 2018 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2026. Hydropower is the most consistent and cost-effective renewable power generation technology where power is obtained from the energy of water moving from higher to lower altitudes. This technology is a proven and price-competitive technology. Hydropower generation has the best efficiencies of conversion of all recognized energy sources.
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Whereas, smaller plants which has output powers not more than 5 MW may have efficiency range between 80-85%. Increasing electricity consumption, introduction of stringent regulations to minimize carbon emissions and low maintenance cost are the few factors responsible for high CAGR of the market over the forecast period. For instance: according to the study conducted by International Energy Agency (IEA), it has been analyzed that the global electricity consumption has reached 22,015 TWh in 2017, which was earlier approx. 6,799 TWh since 1980.
Moreover, growing efforts towards the development of renewable technologies are the major factors likely to create lucrative growth opportunity to the market in the upcoming years. However, limited availability of reservoirs is the major factor anticipated to hindering the growth of global Hydropower Generation market during the forecast period.
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Last Update : Jan 01, 2020
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