USD 2.13 Billion
Small Hydropower Market Size, Share, Growth Analysis, By Capacity(micro hydropower (up to 100 kW), mini hydropower (101 kW to 1 MW), and small hydropower (1 MW to 30 MW)), By Type(run-of-river, storage hydropower, and others), By Application(residential, commercial, industrial, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10D2035 |
Region:
Global |
Published Date: March, 2024
Pages:
178
|Tables:
91
|Figures:
76
Small Hydropower Market Insights
Global Small Hydropower Market size was valued at USD 2.13 Billion in 2022 and is poised to grow from USD 2.19 Billion in 2023 to USD 2.71 Billion by 2031, at a CAGR of 2.7% during the forecast period (2024-2031).
The Global Small Hydropower Market has gained substantial momentum in recent years as a sustainable and renewable energy solution. Small hydropower refers to the generation of electricity from hydroelectric power plants with a capacity typically ranging from a few kilowatts to several megawatts. Several factors are driving the growth of the global small hydropower market. Firstly, the increasing focus on reducing greenhouse gas emissions and combating climate change has spurred the adoption of renewable energy sources. Small hydropower projects provide a significant contribution towards achieving these goals, as they produce clean energy without emitting harmful pollutants. Secondly, the abundant availability of water resources, especially in regions with rivers, streams, and natural waterfalls, makes small hydropower a viable option for decentralized electricity generation.
However, the market also faces certain restraints and challenges. The high initial investment and complex regulatory frameworks associated with small hydropower projects can hinder market growth. Additionally, concerns related to environmental impacts, such as changes in river ecosystems and fish migration patterns, require careful consideration and mitigation measures. Despite these challenges, the small hydropower market is witnessing key trends and opportunities. Technological advancements have led to the development of innovative and efficient turbine systems, allowing for higher energy conversion rates and improved project economics. Moreover, the integration of digital technologies, such as remote monitoring and control systems, has enhanced operational efficiency and maintenance practices in small hydropower plants. Furthermore, the market presents significant opportunities for rural electrification and off-grid applications. Small hydropower projects can provide electricity to remote areas that are not connected to the main power grid, improving the quality of life and enabling economic development in these regions.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial
Fastest Growth
Industrial
Growth Rate
2.7% CAGR
Global Small Hydropower Market ($ Bn)
Country Share for North America Region (%)
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Small Hydropower Market Segmental Analysis
Global Small Hydropower Market is segmented on the basis of capacity, type, application, and region. By capacity, the market is segmented into micro hydropower (up to 100 kW), mini hydropower (101 kW to 1 MW), and small hydropower (1 MW to 30 MW). By type, the market is segmented into run-of-river, storage hydropower, and others. By application, the market is segmented into residential, commercial, industrial, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Small Hydropower Market Analysis By Capacity
Small hydropower, with a capacity range of 1 MW to 30 MW, represents the largest segment in the market. This segment dominates the market due to its ability to harness a significant amount of hydroelectric power and provide electricity to a broader range of consumers. Small hydropower projects are typically installed in rivers and streams with moderate water flow, allowing for a sustainable and reliable energy generation process. These projects are often developed in collaboration with local communities, as they contribute to regional development and create employment opportunities.
On the other hand, the mini hydropower segment is the fastest-growing segment in the market. With a capacity range of 101 kW to 1 MW, mini hydropower projects have witnessed increased adoption due to their suitability for decentralized electricity generation. These projects are ideal for off-grid and remote areas where connecting to the main power grid is either expensive or technically challenging. Mini hydropower plants offer a scalable solution for meeting local energy demands, enabling rural electrification, and supporting sustainable development.
Small Hydropower Market Analysis By Application
The industrial sector represents the largest segment in the small hydropower market. Industries require a significant amount of energy to power their operations, and small hydropower presents a sustainable and cost-effective solution. Industrial facilities can leverage the power of nearby water sources to generate clean electricity, reducing their reliance on traditional energy sources and lowering their carbon footprint. Small hydropower plants integrated into industrial sites provide a reliable and continuous source of electricity, ensuring uninterrupted operations. The industrial sector's substantial energy demand and the potential for significant cost savings make it a prominent adopter of small hydropower technology.
On the other hand, the residential sector is the fastest-growing segment in the small hydropower market. The increasing global population, urbanization, and rising energy consumption in residential areas drive the demand for decentralized and clean energy sources. Small hydropower projects offer an ideal solution for residential areas near rivers, streams, or waterfalls, where there is a consistent and reliable water flow. Homeowners and communities can tap into the potential of small hydropower to generate their own electricity, reducing their dependence on the grid and lowering energy costs. Additionally, the residential sector's growing interest in sustainable living and renewable energy sources contributes to the rapid growth of small hydropower in this segment.
Global Small Hydropower Market By Application
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Small Hydropower Market Regional Insights
The dominating region in the small hydropower market is Asia-Pacific. With its vast water resources, rapidly growing economies, and increasing energy demands, Asia-Pacific has emerged as a powerhouse in small hydropower generation. The region's dominance can be attributed to countries like China, India, and Japan, which have made significant investments in small hydropower infrastructure. China, in particular, has the largest installed capacity of small hydropower globally, fueled by its ambitious renewable energy targets and government support. Asia-Pacific's dominance in the market is also driven by its focus on rural electrification, where small hydropower projects play a crucial role in providing electricity to remote communities. Additionally, the region's favorable geographical landscape, including numerous rivers and mountainous terrain, provides ample opportunities for the development of small hydropower projects. With a robust pipeline of projects and ongoing technological advancements, Asia-Pacific is expected to maintain its dominant position in the small hydropower market.
The fastest-growing region in the small hydropower market is Latin America. This region is witnessing rapid growth due to several factors. Latin American countries, such as Brazil, Colombia, and Peru, have recognized the potential of small hydropower in meeting their renewable energy targets and reducing dependence on fossil fuels. The region's abundant water resources, including the Amazon River and other major river systems, offer significant opportunities for small hydropower development. Additionally, supportive government policies, favorable regulatory frameworks, and incentives for renewable energy investments have created a conducive environment for the growth of the small hydropower market in Latin America. Furthermore, the increasing focus on sustainable development and the need to address energy poverty in rural areas are driving the demand for small hydropower projects. As a result, Latin America is experiencing a surge in small hydropower installations, making it the fastest-growing region in the market.
Global Small Hydropower Market By Region
- Largest
- Fastest
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Small Hydropower Market Dynamics
Small Hydropower Market Drivers
Government Support and Favorable Policies
- Many governments around the world have recognized the importance of small hydropower as a sustainable energy solution and have implemented supportive policies to promote its development. For instance, governments may provide financial incentives, grants, or tax benefits to encourage investment in small hydropower projects. They may also streamline the permitting and regulatory processes, making it easier for developers to navigate the complexities associated with project approvals. This kind of support stimulates market growth by reducing barriers and attracting private investments. For example, in India, the government's policies and initiatives, such as the Small Hydro Power Development Program, have led to significant growth in the small hydropower sector.
Small Hydropower Market Restraints
High Capital Costs
- The development of small hydropower projects often involves significant upfront investment costs. This includes expenses related to feasibility studies, engineering, equipment, and infrastructure development. The high capital costs can act as a restraint, especially for smaller developers or in regions with limited financial resources. However, advancements in technology, economies of scale, and supportive financial mechanisms, such as subsidies, grants, and project financing, are helping to mitigate this challenge and make small hydropower more financially viable.
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Small Hydropower Market Competitive Landscape
The Global Small Hydropower Market is characterized by several key players vying for market share. Prominent companies in the market are actively involved in strategic initiatives such as mergers and acquisitions, partnerships, and product innovations to strengthen their market position. They focus on developing advanced and efficient turbine technologies, incorporating digital solutions for optimal plant performance, and expanding their geographical presence through project collaborations and investments. Additionally, these players are investing in research and development activities to improve the overall efficiency and environmental sustainability of small hydropower projects. With the increasing demand for clean energy and government support for renewable energy initiatives, competition among key players is expected to intensify, leading to further innovations and market growth in the small hydropower sector.
Small Hydropower Market Top Player’s Company Profile
- General Electric (US)
- Voith GmbH (Germany)
- Andritz AG (Austria)
- Siemens AG (Germany)
- Agder Energi AS (Norway)
- Alstom Hydro (France)
- Statkraft AS (Norway)
- RusHydro (Russia)
- Duke Energy Corporation (US)
- BC Hydro (Canada)
- Ontario Power Generation (Canada)
- SSE plc (UK)
- Brookfield Renewable Partners LP (Canada)
- Innergex Renewable Energy Inc. (Canada)
- National Grid plc (UK)
- Scottish Power (UK)
- EDF Group (France)
- Tata Power Company Limited (India)
- Enel Green Power S.p.A. (Italy)
- China Three Gorges Corporation (China)
Small Hydropower Market Recent Developments
- In August 2023, Smarkraft AS, announced a strategic collaboration with the HYDROGRID in order to optimize the sustainability and efficiency of Smakraft’s hydropower operations. It acts by the use of real-time predictive planning technology.
- In August 2023, the International Finance Corporation (IFC), announced the collaboration for the development activities of Dama and Siku small hydropower in Burundi, East Africa.
- In September 2023, the eN+ group of Interphex, are planning to put the Segozerskaya small hydropower plant into service in the year of 2024.
Small Hydropower Key Market Trends
- Technological Advancements: The small hydropower sector is witnessing continuous technological advancements aimed at improving the efficiency and performance of hydropower systems. For example, the development of advanced turbine designs, such as Kaplan and Pelton turbines, allows for higher energy conversion rates and improved project economics. Furthermore, innovations in materials, such as advanced composites and coatings, enhance turbine durability and reduce maintenance requirements. These technological advancements contribute to the overall competitiveness and viability of small hydropower projects.
Small Hydropower Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Global Small Hydropower Market is experiencing steady growth and is expected to continue its upward trajectory. The market is being driven by several factors, including the increasing demand for clean and renewable energy sources, government support through favorable policies and incentives, and the need for rural electrification and off-grid solutions. Additionally, advancements in technology and turbine efficiency, coupled with the rising awareness of the environmental benefits of small hydropower, are fueling market expansion. The market is also witnessing a surge in investments and collaborations, both from established players and new entrants, further driving its growth. With the growing focus on sustainable energy and the potential for small hydropower to contribute to the global energy transition, the market is poised for significant opportunities in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.13 Billion |
| Market size value in 2031 | USD 2.71 Billion |
| Growth Rate | 2.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Small Hydropower Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Small Hydropower Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Small Hydropower Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Small Hydropower Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Small Hydropower Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Small Hydropower Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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