Global Small Hydropower Market – Opportunities and Forecast, 2020-2027
Small hydropower is a renewable, clean, and predictable energy source. Small hydropower generation systems are used to generate electricity by converting the mechanical energy in the running water into electric energy, similar to larger conventional hydroelectric systems. Small hydro systems can be connected to the grid to provide power to it. It can also be used for independent and stand-alone applications in isolated remote areas. Setting up of small hydroelectric plants require low capital investment due to minimum reservoirs and civil construction work.
Increased focus towards rural electrification in emerging and underdeveloped economies, reducing dependency on conventional resources, and low maintenance cost and capital investment is driving the growth of the Small Hydropower market. Renewable power generation aids countries in meeting sustainable development goals through provision of access to secure, reliable, clean, and affordable energy. Large capacity of hydropower systems are being installed across the globe every year. Moreover, in recent years, there has been a drastic reductions in renewable energy technologies’ costs due to R&D and accelerated developments. Small hydropower plants can be built through existing dams or via a running river, which reduces more than 45% cost of civil construction and results into low capital cost of the project. Small hydropower plants have low operational cost as it requires less labor management and site maintenance. Hence, the low capital and maintenance cost associated with installation of small hydropower plant is expected to fuel the market growth. However, the cost associated with operating small hydropower plant when compared with New Solar Photovoltaic (PV) and Onshore Wind Power is high, which might hamper the growth of the market.
Request for Sample Report – https://www.gmiresearch.com/report/small-hydropower-market/sample-request
Based on the Region, Asia-Pacific is projected to witness a higher CAGR growth during the forecast period. This is attributed to the rising investments in rural electrification and off-grid energy generation in countries like China, India, and Vietnam. Moreover, the increasing need to supply electricity in remote areas coupled with the rising environmental concerns is expected to accelerate the growth of the market in Asia-Pacific region.
The key players in the market include Voith GmbH & Co, ANDRITZ Inc, GE Renewable Energy, Toshiba Corporation, Siemens AG, Bharat Heavy Electrical Ltd (BHEL), Gilbert Gilkes & Gordon, Flovel Energy Pvt. Ltd, Alstom S.A., and StatKraft AS among others.
In 2019, Voith GmbH & Co. received an order to manufacture, design, and supply the electromechanical equipment for small hydropower plant named as Kabu 16 in Burundi Africa. The Voith GmbH & Co. is responsible for valves, generators, and two vertical Francis turbine.
The Global Small Hydropower market has been segmented based on Capacity, Type, Component, and Key Region. Based on Capacity, the market is segmented into Up to 1 MW and 1–10 MW. Based on Type, the market is segmented into Micro Hydropower and Mini Hydropower. Based on Component, the market is segmented into Electromechanical Equipment, Electric infrastructure, Civil Works and Others.
Request for Customization – https://www.gmiresearch.com/report/small-hydropower-market/request-for-customization
Key questions answered in this research report:
At what pace is the Global Small Hydropower market growing? What will be the growth trend in the future?
What are the key drivers and restraints in the Global Small Hydropower market? What will be the impact of drivers and restraints in the future?
What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Small Hydropower market?
What are the components of Global Small Hydropower market and how they are poised to grow?
What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
For Additional Insights, Click to Access Complete Report – https://www.gmiresearch.com/report/small-hydropower-market/
About GMI Research
GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieve success by beating the competition. GMI Research’s leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our client’s business problems and add significant value to long lasting relationship.
The company provides syndicated research report, customized research, sales enablement research, data analytics and KPO (knowledge process outsourcing) service for Electronics & Semiconductors, Information Communication and Technology, Energy & Power, Healthcare, Automotive, Transportation & Logistics and Chemical industries. Our analysts and consultants who are passionate about research and consulting are recruited from renowned local and global universities and have worked with the leading local and international organizations.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: 353 1 442 8820
Address:Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate