Energia
Hydropower Generation Market to Reach $317.8 Bn, Globally, by 2027 at 5.9% CAGR: AMR
Rise in demand for electricity in emerging economies and surge in adoption of clean energy worldwide drive the global hydropower generation market. However, high operational and capital costs restrict the market growth. On the other hand, rise in demand for renewable power and increase in hydropower installation capacity present new opportunities in the next few years.
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Based on capacity, the large hydro power plant (above 10MW) segment accounted for the highest market share, holding nearly two-thirds of the total market share in 2019, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to improved efficiency, long life span, less maintenance & operation cost, high reliability, and upcoming hydropower projects. However, the medium hydro power plant (1MW - 10MW) segment is projected to manifest the highest CAGR of 6.2% from 2020 to 2027, owing to increase in electrification activities in rural areas across the Asia-Pacific .
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Based on region, Asia-Pacific , followed by North America , accounted for the largest share in 2019, contributing to nearly half of the total share, and will maintain its dominant position in terms of revenue by 2027. Moreover, this region would witness the fastest CAGR of 6.2% during the forecast period. This is attributed to rapid industrialization and urbanization, demand for renewable energy, and the need to reduce the dependency on conventional fossil fuels for energy generation.
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Green Power Market – Global green power market is anticipated to generate $103.5 billion by 2027, growing at a CAGR of 12.3% from 2020 to 2027.
Concentrated Solar Power Market - Global concentrated solar power market is projected to reach
$ 8,046.7 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026.
Geothermal Power Market -Global geothermal power market is projected to reach $6.8 billion by 2026, growing at a CAGR of 5.0% from 2019 to 2026.
Wave Energy Market - Global wave energy market size was valued at $43.8 million in 2019, and is projected to reach $141.1 million by 2027, growing at a CAGR of 17.8% from 2020 to 2027.
Smart Energy Market - Global smart energy market is projected to reach $253.1 billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027.
Small Wind Power Market - Global Small Wind Power Market is expected to reach $8,874 million by 2022, registering a CAGR of 13.2% from 2014 to 2022.
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