Hydropower Generation Market latest Industry Developments and Future Growth Opportunities by 2027

Hydropower is by far the largest renewable energy source and is projected to become more dominant in the coming years. The innovations and government initiatives have helped hydropower generation to become prominent. Last year, China unveiled its smartest and the world’s seventh-biggest mega hydropower station. China has used some advanced technologies such as real-time temperature monitoring and grouting equipment. Moreover, it has integrated technology that can automatically adjust the water flow to realize the cooling process of concrete in the most sophisticated way.

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 hydropower generation market is fragmented into small hydro power plant (up to 1MW), medium hydro power plant (1MW – 10MW), and large hydro power plant (above 10MW).  The large hydro power plant (above 10MW) is the leading segment that dominated the global market with more than three-fifths of the total market share in 2019.

Region wise, the hydropower generation market size is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a major global hydropower generation market share in 2019, and dominated the global market with nearly half of the total market share in 2019.

Key players operating in the global hydropower generation market include Andritz Hydro USA Inc., GE Energy, CPFL Energia S.A., Sinohydro Corporation, IHI Corporation, Alstom Hydro, China Hydroelectric Corporation, China Three Gorges Corporation, ABB Ltd, and Gerdau S.A.

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Covid-19 Scenario

Governments imposed the lockdown to prevent the spread of coronavirus. This resulted in postponement of ongoing and proposed projects of governments. However, the impact on facilities with high level of automation has been lesser as compared to those that do not have automation.

There have been uncertainty and liquidity shortages, which in turn, led to occurrence of risks related to financing and refinancing of some of the hydropower projects. Moreover, few development and modernization projects have been halted as the supply chain disrupted.

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