Global Hydropower Market Size to Exceed USD 312.68 Billion by 2033: Market Study Report

Global Hydropower Market Size to Exceed USD 312.68 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Hydropower Market Size is Expected to Grow from USD 256.31 Billion in 2023 to USD 312.68 Billion by 2033, at a CAGR of 2.01% during the forecast period 2023-2033.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Hydropower Market Size, Share, and COVID-19 Impact Analysis, By Component (Civil Construction, Electromechanical Equipment, Power Infrastructure, and Others), By Capacity (Mini, Micro & Pico, Small, and Large & Medium), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

The global hydropower market refers to the industry involved in the water resources utilized to generate electricity, making it one of the most popular renewable energy sources. Various hydroelectric plant types that use the kinetic energy of falling or flowing water to generate electricity are included in this market, such as run-of-river, reservoir-based, and pumped storage facilities. Key driving factors for the growth of the hydropower market include the growing energy demand due to the world's expanding population and the need to lessen dependency on traditional power generation have been driving the industry's adoption of renewable energy sources. However, environmental issues are a significant barrier since hydropower facilities have the potential to destabilize regional ecosystems, impact aquatic species, cause deforestation, and uproot communities. 

The civil construction segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.

On the basis of component, the global hydropower market is divided into civil construction, electromechanical equipment, power infrastructure, and others. Among these, the civil construction segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The growth can be attributed to the requirement for strong infrastructure that can withstand natural forces and guarantee long-term operational stability, civil building is in high demand.  In the initial phases of the projects, the physical infrastructure necessary for hydropower plants such as tunnels, reservoirs, and dams are vital.

The small capacity segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.

On the basis of capacity, the global hydropower market is divided into mini, micro & pico, small, and large & medium. Among these, the small capacity segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growing need for renewable energy sources, the need for environmentally friendly and sustainable power generation, and government policies that encourage the reduction of carbon footprints are driving the growth of the small-capacity hydropower market.

Asia Pacific is anticipated to hold the largest share of the global hydropower market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global hydropower market over the predicted timeframe. The regional growth can be attributed to government policies, a wealth of hydropower resources, and rising energy consumption are the main factors propelling his market's expansion. There are many streams and major companies involved in the hydropower industry in the Asia Pacific area, which creates prospects for numerous hydropower projects

North America is expected to grow at the fastest CAGR in the global hydropower market during the forecast period. The massive hydroelectric infrastructure that has been created in the United States and Canada, the expanding demand for renewable energy, growing concerns about climate change, and an increased emphasis on creating improved energy generation solutions based on renewable resources are the main drivers of this growth. The region's governments are helping the hydropower sector achieve its objectives of lowering carbon emissions and reducing reliance on finite fossil resources.

Company profiling

Major vendors in the global hydropower market are China Three Gorges Corporation, Voith GmbH & Co. KGaA, ALFA LAVAL, ABB, ENGIE, Tata Power, Norsk Hydro ASA, Siemens, Stakraft Sweden, ANDRITZ, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2022, Renewable Energy Limited launched the VETT-in-a-Box micro hydropower system, designed for easy installation and capable of generating electricity from small water sources with minimal environmental impact. This innovation underscores the industry's commitment to enhancing energy efficiency and sustainability. 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global hydropower market based on the below-mentioned segments

Global Hydropower Market, By Component

• Civil Construction
• Electromechanical Equipment
• Power Infrastructure
• Others

Global Hydropower Market, ByCapacity

• Mini
• Micro & Pico
• Small
• Large & Medium

Global Hydropower Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa