Hydropower Market Size, Share, Growth, Trends, and Global Industry Analysis: By Size (Large Hydropower Greater Than 100 MW, Small Hydropower Smaller Than 10 MW and By Other Sizes 10-100 MW), By Application (Residential, Commercial, and Industrial), and Region  

Hydropower Market was valued at US$ 261.4 billion in 2023 and is poised to grow at a significant CAGR of 6.1% over 2024-2030. Hydropower, also known as water power, is a method to use of falling or fast-running water to produce electricity or to power machines, with the use of falling or fast-running water, and this process is based on the gravitational potential or kinetic energy of the water source to produce power. Hydropower is a method of sustainable energy production. Hydropower and demand are estimated to increase during the forecast period due to the assessment of new Hydropower plants and the increasing demand for renewable energy. Increasing demand for reliable, and cost-effective electricity and an increasing number of new hydropower projects initiated by government bodies are expected to drive the market over the forecast period. Hydropower market growth is likely to be hindered in the coming future due to the negative environmental consequences of hydropower projects. Additionally, the demand for huge investment and operational expenditures, as well as extended gestation periods, constrained the growth of the global hydropower market.

 Furthermore, the market expansion is anticipated to be driven by increasing demand for greener power production technologies and tight emission laws. Also, the International Energy Agency reports said that hydropower is the greatest important source of renewable energy generation, contributing to 60.7 percent of global renewable energy power generation in 2021. With, rising demand for renewable energy and a boom in hydropower installation capacity in emerging economies such as China and India are projected to contribute to new potential possibilities for the market over the forecast period. Emerging technological trends aimed at increasing hydropower generation is expected to create numerous opportunities for the hydropower market in the upcoming years. Asia-Pacific is anticipated to be the fastest-growing market in coming few years, with the majority of the demand coming from countries like China, India, japan.

Hydropower Market Recent Key Developments

• In January 2021, India approved a US$ 724 million investment for the 850 megawatts (MW) Ratle hydropower project on the Chenab River in Jammu and Kashmir, A joint venture is expected to be formed for this project by National Hydroelectric Power Corporation (NHPC), Indias largest organization for hydropower development, and Jammu & Kashmir State Power Development Corporation (JKSPDC), The project is expected to start its commercial operation by 2026.
• In March 2021, Artistic Milliners invested around US$ 370 million in two runs of river hydropower projects in Pakistan. The companys hydropower plants, Hydro I and Artistic Hydro II, will contribute a combined 521 GWh per year.