Top 40 Companies in Hydropower Market & Report 2025 - 2035: Key Insights & Innovations
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Hydropower Market Size is projected to Grow from USD 249.56 Billion in 2024 to USD 289.13 Billion by 2035, at a CAGR of 1.48 % during the forecast period 2025–2035. Future opportunities in the global hydropower market include small-scale systems, digital integration, hybrid renewable projects, plant modernization, pumped storage expansion, and untapped potential in emerging regions like Africa and Latin America.
Introduction
The global hydropower market refers to the industry involved in generating electricity by harnessing the energy of moving water through turbines. As one of the oldest and most widely used renewable energy sources, hydropower plays a critical role in sustainable power generation. Key driving factors include growing electricity demand, rising focus on low-carbon energy solutions, supportive government policies, and advancements in turbine technologies. Additionally, the need for grid stability and energy storage boosts the adoption of pumped storage hydropower systems.
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Hydropower Market Size & Statistics
The Market Size for Hydropower was Estimated to be worth USD 249.56 Bllion in 2024.
The Market is going to Expand at a CAGR of 1.48 % between 2025 and 2035.
The Global Hydropower Market Size is Anticipated to Reach USD 289.13 Billion by 2035.
Asia Pacific is Expected to generate the highest demand during the forecast period in the Hydropower Market.
North America is Expected to Grow the fastest during the forecast period in the Hydropower Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the Hydropower market. The expansion is fueled by rising demand for renewable energy, existing extensive hydropower infrastructure in the U.S. and Canada, escalating climate issues, and an increasing emphasis on creating improved energy generation solutions utilizing renewable resources. The regional governments are backing the hydropower sector to achieve objectives concerning a lower carbon footprint and decreased reliance on dwindling fossil fuels.
Asia Pacific is expected to generate the highest demand during the forecast period in the Hydropower market. The expansion of his market is mainly fueled by rising energy needs, plentiful hydropower resources, and backing from government initiatives. The Asia Pacific area contains numerous rivers and significant organizations working in the hydropower sector, creating chances for various hydropower projects. The Japan Hydropower Market Size is Expected to hold a significant share by 2033, at a CAGR of 1.8% during the forecast period 2023 to 2033.
Top 10 Hydropower Trends
- Hydropower Technology Upgrades
- Modular Power
- Marine and Hydrokinetic Technology
- Novel Turbines
- Power Injectors
- Performance Analytics
- Aquatic Life Preservation
- Simulations
- Dynamic Pumped Hydropower
- Artificial Channeling
1. Hydropower Technology Upgrades
Generating electricity from renewables faces climate challenges and carbon concerns. New hydropower tech, advanced turbines, and hybrid storage boost efficiency, flexibility, and output under varying hydraulic conditions.
- Hydrosyst makes Permanent Magnet Generators
Hydrosyst, a UK startup, makes compact permanent magnet generators for new and existing hydro plants, delivering high power even at low speeds.
- Littoral Power Designs Modular Turbines
Littoral Power Systems provides advanced turbines and remote management tools to upgrade small hydropower sites and optimize energy generation efficiency.
2. Modular Power
Modular hydropower systems simplify plant deployment and scaling. Startups offer gravity machines, PATs, and low-head turbines for cost-effective power. Advanced rotors ensure grid stability and responsive energy generation.
- AdaptVerticalMills makes Autonomous Modular Wind Turbines
AdaptVerticalMills is a German startup creating autonomous modular wind turbines for off-grid areas. Its recyclable ACT Swinging Rotor offers low-height, eco-friendly, and scalable solutions that complement existing wind turbine setups.
- Matel offers Frameless Permanent Magnet Generators
Matel is an Indian startup offering compact, energy-efficient frameless permanent magnet synchronous motors for micro hydropower. Its BLDC and IE5 motors lower infrastructure costs and enhance plant flexibility and efficiency.
3. Marine and Hydrokinetic Technology
Wave and tidal power offer immense potential for clean, reliable energy. MHK technologies like tidal stream, barrage, and instream hydrokinetics are gaining momentum, especially in coastal renewable energy development.
- Zoexpower simplifies Offshore Energy Generation
Zoex is a UK-based startup decentralizing wave power through its ActiveFender technology, which converts marine structures into clean energy sources. It supports aquaculture, offshore platforms, and coastal infrastructure.
- Energyminer develops Hydrokinetic Plants
Energyminer is a German startup creating kinetic hydropower plants. Its floating device, Energyfish, generates eco-friendly electricity with fish protection and automatic safety features, supplying power to the grid via land stations.
4. Novel Turbines
Hydropower plants are adopting advanced turbine designs like very-low-head, vortex, Alden, and minimum gap runner turbines to boost efficiency, sustainability, and power output without disrupting natural water flow.
- Finnrunner develops 3D-Printed Turbines
Finnrunner is a Finnish startup offering lightweight, composite-based turbines for new and existing hydropower plants, improving efficiency, sustainability, and reducing production costs.
- BluPower designs Plug-and-Play Turbines
BluPower’s vortex turbine offers eco-friendly, low-maintenance micro hydro power for rural areas, ensuring reliable energy without disrupting natural water flow.
5. Power Injectors
Power injectors enhance turbine performance by introducing high-pressure water jets into the intake, boosting flow via the venturi effect. Effective in both low-head and high-head systems, they increase power output.
- Powerturbines makes Injected Hydraulic Turbines
Spanish startup Powerturbines offers adaptable hydraulic turbines that enable small-scale power generation for dams, irrigation, and rural homes with PRV integration.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Hydropower market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 18 Companies Leading the Hydropower Market
- Siemens
- Stakraft Sweden
- ANDRITZ
- China Three Gorges Corporation
- Voith GmbH & Co. KGaA
- ALFA LAVAL
- ABB
- ENGIE
- Tata Power
- Norsk Hydro ASA
- Hitachi Mitsubishi Hydro Corporation
- General Electric Company
- Renewable Japan Co., Ltd.
- J-POWER Group
- Toshiba Corporation
- JAG Energy Co., Ltd.
- Japan Hydro-power Development Inc.
- Others
1. Siemens AG
Headquarters: Munich, Germany
Siemens AG is a global powerhouse in electrification, automation, and digitalization. It is a major player in energy technologies, including hydropower solutions. Siemens provides cutting-edge turbine-generator sets, automation systems, and grid integration solutions tailored for hydropower plants. Its technologies support digital monitoring and smart maintenance, improving operational efficiency and sustainability. With a commitment to innovation and clean energy, Siemens continues to help utilities modernize their infrastructure for a low-carbon future. The company’s global footprint and engineering expertise make it a preferred partner for large-scale hydropower development and modernization projects across diverse terrains and climates.
2. Statkraft Sweden
Headquarters: Stockholm, Sweden
Statkraft Sweden operates as part of the larger Norwegian state-owned utility Statkraft, Europe’s largest generator of renewable energy. The company manages numerous hydropower plants across Sweden, contributing significantly to the nation’s clean energy goals. Statkraft Sweden focuses on sustainable power generation, reservoir management, and grid stability. It plays a key role in balancing energy systems and maintaining low-emission electricity supply through efficient hydropower operations. Leveraging over a century of expertise in hydroelectricity, Statkraft Sweden continues to develop innovative approaches to enhance energy security and environmental stewardship in the Nordic region.
3. ANDRITZ AG
Headquarters: Graz, Austria
ANDRITZ AG is a leading global supplier of plants, equipment, and services for hydropower stations. The company provides complete electromechanical systems for hydroelectric power plants, including turbines, generators, automation, and digital solutions. ANDRITZ Hydropower supports both new installations and modernization of existing assets, with a focus on energy efficiency and sustainability. With decades of experience, the company is a key player in the global transition to clean energy. Its global engineering and manufacturing network allows it to deliver customized solutions for all hydropower project sizes, from small hydros to large-scale pumped storage plants.
4. China Three Gorges Corporation (CTG)
Headquarters: Beijing, China
China Three Gorges Corporation is a state-owned enterprise and one of the world’s largest hydropower companies. Best known for the Three Gorges Dam, the world’s largest hydroelectric power station, CTG develops, operates, and manages hydropower and clean energy projects globally. It focuses on large-scale infrastructure, environmental sustainability, and global clean energy cooperation. In addition to hydropower, CTG invests in wind, solar, and international energy assets. The corporation plays a key role in China’s renewable energy strategy and global Belt and Road energy initiatives, aiming to expand its green footprint and energy transformation capabilities worldwide.
5. Voith GmbH & Co. KGaA
Headquarters: Heidenheim an der Brenz, Germany
Voith GmbH is a leading technology group that specializes in mechanical engineering solutions, particularly in hydropower. Voith Hydro, a division of the company, offers systems for turbines, generators, automation, and digital hydropower management. The company serves utilities, independent power producers, and governments around the world, providing sustainable solutions for both new plants and the modernization of aging facilities. Voith emphasizes innovation, ecological design, and digital integration, supporting long-term energy production with reduced environmental impact. Its century-long expertise and commitment to sustainability make it a trusted partner in the global hydropower industry.
Are you ready to discover more about the Hydropower market?
The report provides an in-depth analysis of the leading companies operating in the global Hydropower market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Siemens
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Stakraft Sweden
- ANDRITZ
- China Three Gorges Corporation
- Voith GmbH & Co. KGaA
- ALFA LAVAL
- ABB
- ENGIE
- Tata Power
- Norsk Hydro ASA
- Hitachi Mitsubishi Hydro Corporation
- General Electric Company
- Renewable Japan Co., Ltd.
- J-POWER Group
- Toshiba Corporation
- JAG Energy Co., Ltd.
- Japan Hydro-power Development Inc.
- Others
Conclusion
The global hydropower market is steadily evolving, driven by the rising demand for clean energy, supportive policies, and advancements in turbine and storage technologies. Hydropower remains a cornerstone of the global renewable energy mix. Innovations such as permanent magnet generators, modular systems, and marine hydrokinetics are reshaping the industry. Key players like Siemens, Statkraft, ANDRITZ, China Three Gorges Corporation, and Voith are leading this transformation. As regions like Asia Pacific and North America drive demand, investing in modernization, hybrid systems, and untapped markets will be vital for building a sustainable and resilient energy future powered by reliable hydropower solutions.
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