Hydropower Market size to surge at a growth rate of 2% to 2024

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North America Hydropower Market is predicted to grow significantly in the coming years

Hydropower Market is expected to grow at over 2% and exceed 1,300 GW by 2024. Growing demand for electricity along with upsurge in investment towards sustainable energy will drive the global hydropower market. Europe and North America have introduced plans to renovate, upgrade, and modernize the ageing stations with an aim to ensure more efficient operations. In March 2015, Latvenergo announced its plan to invest USD 222.26 million towards reconstruction of Plavinas, Kegums, and Riga hydroelectric power stations in Northern Europe by 2022.

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Reliability and low maintenance costs coupled with high operating life cycle are some of the key factors which will fuel the hydropower market. Flood control, tourism, irrigation, recreation and aquaculture in far-flung areas are some of the benefits, which will complement the business landscape. North America and Europe have introduced bond funds with an objective to raise investment for hydropower projects. These funds are specifically aimed at acquiring existing assets over the new build.

Hydropower Market is driven by a relatively long shelf life, reliability, large-scale power rollout, and reduced operational and maintenance costs. Manufacturing electricity aided by the conversion of kinetic energy into electric current has been one of very old techniques of power generation. Of late, hydropower industry has gained renewed traction pertaining to the strict regulations laid down by the government as regards to energy conservation. In addition, the necessity to provide electricity to rural areas, high global demand for uninterrupted power supply, and the requirement of water for irrigation, navigation, flood control, recreation, and drinking water supply will augment the growth of hydropower market.

Large hydropower capacity segment accounted for over 80% of global hydropower market share in 2016. Growing demand for reliable and continuous electricity coupled with upgradation of ageing generating stations will fuel the industry outlook. In 2016, Andritz announced the installation of three hydroelectric stations worth over USD 75 million in Brazil and Nicaragua with an objective to supply reliable and constant electricity.

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Key participants in hydropower market include ANDRITZ HYDRO, General Electric, Voith, Alfa Laval, China Yangtze Power, China Three Gorges Corporation, Metso, RusHydro, Hydro-Quebec, Duke Energy, Georgia Power, StatKraft, Agder Energi, Ontario Power Generation, ABB, Engie, EDF and Tata Power.

Table Of Content For This Research Report:

Chapter 3 Hydropower Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 – 2024
3.3 Industry ecosystem
3.3.1 Vendor matrix
3.4 Innovation & sustainability landscape
3.5 Capital cost structure
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.6.3 China
3.6.4 India
3.6.5 Philippines
3.6.7 Vietnam
3.7 Industry impact forces
3.7.1 Growth drivers Positive outlook towards renewable energy Growing demand for electricity Favorable government initiatives
3.7.2 Industry pitfalls & challenges High initial investment for large hydropower
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 Competitive landscape, 2016
3.10.1 Strategy dashboard
3.10.2 Merger & acquisition landscape
3.11 PESTEL analysis

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Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA