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Hydro Electricity Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Hydro Electricity Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6072039
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the hydro electricity market are Alstom Power, GE Energy, Tata Power Company, Hydrochina International, CPFL Energia, Sinohydro Corporation, RusHydro, Andritz and Agder Energi SA.

The global hydro electricity market is expected to grow from $1947.2 billion in 2020 to $2078.17 billion in 2021 at a compound annual growth rate (CAGR) of 6.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2762.29 billion in 2025 at a CAGR of 7%.

The Hydro Electricity market consists of sales of hydropower energy and related services.The Hydro Electricity industry includes companies that are mainly involved in operating Hydro Electricity facilities to produce electricity.

Hydropower stations convert the kinetic energy of flowing or falling water into electrical energy and which is provided to power transmission systems.

Favourable laws in emerging countries are projected to drive the Hydro Electricity market.Governments across the globe are introducing policies that aid the growth of Hydro Electricity market.

For instance, in 2019, in India, according to Press Information Bureau, the union cabinet of India has approved major hydropower projects (HPO) as part of the non-solar renewable purchase obligation (RPO). Introduction of favourable laws will boost the demand for hydropower and in turn drive the market.

Companies in the Hydro Electricity market are upgrading their technologies to make them more sustainable.They are investing to increase the efficiencies of hydropower plants to make them compatible with the environment.

For instance, in 2018, Voith Hydro, a German engineering company, upgraded two hydropower plants (HPPs) that were ageing in order to increase their performance and making them more environmentally friendly. Following the renovation, the power generation capacity of Semla 4 plant power in Fagersta municipality increased to 15 GWh.

The Hydro Electricity market covered in this report is segmented by type into dike type, diversion hydropower station, mixed type, tide, pumped storage. It is also segmented by capacity into large, medium, small and by application into residential, commercial and industrial.

In September 2018, Ontario Power Generation, a Canada-based provincial utility company, acquired Eagle Creek Renewable Energy LLC for $298 million from affiliates of Hudson Clean Energy Partners and other shareholders.This acquisition helps Ontario Power Generation to capitalize on new growth opportunities in the form of hydropower assets.

Eagle Creek is a power generation company that owns 63 hydropower facilities with a total generation capacity of 216 MW.

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