Insights Into The Hydro Electricity Market’s Growth Opportunities Through 2023-2032 – Includes Hydro Electricity Market Size
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Favorable laws in emerging countries are expected to drive innovation in hydro electricity manufacturing, thus driving the market during the forecast period.
The global hydro electricity market is expected to grow from $300.54 billion in 2022 to $319.14 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The global hydro electricity market size is expected to grow to $390.32 billion in 2027 at a CAGR of 5.2%.
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- By Product Type:Dike Type, Diversion Hydropower Station, Mixed Type, Tide, Pumped Storage
- By Capacity:Large, Medium, Small
- By Application: Residential, Commercial, Industrial
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global hydro electricity market in 2021.
Major Market Players in the hydro electricity market include Alstom Power, GE Energy, Tata Power Company, Hydrochina International, CPFL Energia, Sinohydro Corporation, RusHydro, Andritz, Agder Energi SA, GE, Voith Group.
Companies in the hydroelectricity market are upgrading their technologies to make them more sustainable. They are investing in increasing the efficiencies of hydropower plants to make them compatible with the environment. For instance, in 2021, the hydroelectricity companies such as EPCG and ERS introduced the construction of a hydropower plant (HPP) in Sutorina to increase their performance and make them more environmentally friendly.
The Hydro Electricity Global Market Report 2023 provides a hydro electricity market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The hydro electricity market forecast analyzes hydro electricity market size, hydro electricity market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Hydroelectricity refers to a renewable source of energy that generates power by using a dam or diversion structure to alter the natural flow of a river or other body of water. Hydropower stations convert the kinetic energy of flowing or falling water into electrical energy, which is provided to power transmission systems.
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