Pico Hydropower Market size was valued at US$ 4.9 million in 2023 and is projected to grow at 28.9% CAGR over the forecast years to reach US$ 29.0 million by 2030. The Pico hydropower market is driven by the factors such as growing demand for renewable energy, electrification of remote areas, government support and incentives, rising energy costs, and technological advancements. Global emphasis on reducing dependence on fossil fuels and increasing adoption of clean energy sources is propelling the Pico hydropower market. Many regions lack access to grid-based electricity. Pico hydro systems provide a reliable and eco-friendly solution for these areas, and governments offer subsidies and tax breaks to encourage the installation of Pico hydro systems, making them more affordable.
As the cost of traditional energy sources continues to rise, Pico hydro becomes a more attractive option for reducing electricity bills. Improvements in turbine design, efficiency, and miniaturization are making Pico hydro systems more affordable and easier to install. Despite the positive outlook, the Pico hydropower market have to face a challenge such as high upfront costs, limited capacity, site dependence, and maintenance requirements. Off-grid applications, integration with microgrids, technological innovation, and focus on developing economies are the opportunities in the market which shape the market in the upcoming years. Focus on portability and ease of installation, hybrid systems, pay-as-you-go models, and increasing government regulations are the trends in the Pico hydropower market.
Study Period
2024-2030Base Year
2023CAGR
28.9%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
The Pico hydropower market is growing due to the immense potential in powering homes, businesses, and community facilities in remote areas, and can be integrated with other renewable energy sources like solar and wind to create microgrids for off-grid communities. Additionally, advancements in materials, manufacturing processes, and smart controls can further reduce costs and improve efficiency, and growing demand for electricity in developing economies presents a significant occasion for Pico hydro market expansion. Manufacturers are developing user-friendly Pico hydro systems that can be easily installed and maintained, and combining Pico hydro with solar or wind power is becoming increasingly popular to provide a more reliable and consistent energy source. Innovative financing models like pay-as-you-go schemes are emerging to make Pico hydro systems more accessible in developing economies, and governments may implement regulations to ensure the quality and safety of Pico hydro systems.
Based on regions the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The Asia Pacific (APAC) region is currently the dominant force in the market, thanks to its high installed capacity and aggressive expansion strategies with a significant focus on sustainable and decentralized energy solutions. South America and Southeast Asia are emerging as the fastest-growing regions. The abundance of hydrological resources and the low cost and negligible operating costs of pico hydropower systems make them ideal for rural electrification in these areas, and lack of access to grid electricity in many rural areas, and gowing focus on rural electrification by governments. Vietnam is leading the market of pico-hydropowers with a share of more than 25% in the global market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 4.9 million |
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Market Size in 2030 |
US$ 29.0 million |
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Market CAGR |
28.9% |
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By Type |
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By Application |
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The Pico hydropower market was valued at US$ 4.9 million in 2023 and is projected to grow at 28.9% CAGR over the forecast years to reach US$ 29.0 million by 2030.
• Growing demand for renewable energy
• Electrification of remote areas
• Government support and incentives
• Rising energy costs
• Technological advancements
• Off-grid applications
• Integration with microgrids
• Technological innovation
• Focus on developing economies
• High upfront costs
• Limited capacity
• Site dependence
• Maintenance requirements
Pico hydropower refers to the generation of hydroelectric power with a maximum electrical output of under 5 kW. It’s particularly beneficial for small, remote communities that require only a small amount of electricity. For instance, it can power a couple of fluorescent light bulbs and a TV or radio in about 50 homes.
Market research is segmented based on type, application, and region.
Asia-Pacific is the dominating region in the Pico Hydropower Market
| 1.Executive Summary |
| 2.Global Pico Hydropower Market Introduction |
| 2.1.Global Pico Hydropower Market - Taxonomy |
| 2.2.Global Pico Hydropower Market - Definitions |
| 2.2.1.By Type |
| 2.2.2.By Application |
| 2.2.3.By Region |
| 3.Global Pico Hydropower Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Pico Hydropower Market Analysis, 2018-2022 and Forecast 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Pico Hydropower Market By Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 5.1. Reaction Turbine |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Propeller Turbine |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Francis Turbine |
| 5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Pico Hydropower Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 6.1. Industrial |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Residential |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Commercial |
| 6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Pico Hydropower Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Pico Hydropower Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 8.1. Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Reaction Turbine |
| 8.1.2.Propeller Turbine |
| 8.1.3.Francis Turbine |
| 8.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Industrial |
| 8.2.2.Residential |
| 8.2.3.Commercial |
| 8.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Pico Hydropower Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Reaction Turbine |
| 9.1.2.Propeller Turbine |
| 9.1.3.Francis Turbine |
| 9.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Industrial |
| 9.2.2.Residential |
| 9.2.3.Commercial |
| 9.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10.Asia Pacific (APAC) Pico Hydropower Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Reaction Turbine |
| 10.1.2.Propeller Turbine |
| 10.1.3.Francis Turbine |
| 10.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Industrial |
| 10.2.2.Residential |
| 10.2.3.Commercial |
| 10.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Latin America Pico Hydropower Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Reaction Turbine |
| 11.1.2.Propeller Turbine |
| 11.1.3.Francis Turbine |
| 11.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Industrial |
| 11.2.2.Residential |
| 11.2.3.Commercial |
| 11.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Brazil |
| 11.3.2.Mexico |
| 11.3.3.Rest of LA |
| 12.Middle East and Africa Pico Hydropower Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Reaction Turbine |
| 12.1.2.Propeller Turbine |
| 12.1.3.Francis Turbine |
| 12.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Industrial |
| 12.2.2.Residential |
| 12.2.3.Commercial |
| 12.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.GCC Countries |
| 12.3.2.South Africa |
| 12.3.3.Rest of MEA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Fish Friendly Hydropower Company Ltd. |
| 13.2.2.ANDRITZ |
| 13.2.3.General Electric |
| 13.2.4.Voith GmbH & Co. KGaA |
| 13.2.5.FLOVEL Energy Private Limited |
| 13.2.6.ATB Riva Calzoni |
| 13.2.7.BFL Hydro |
| 13.2.8.Canyon Hydro |
| 13.2.9.CKD Blansko |
| 13.2.10.Energiteknikk |
| 14. Research Methodology |
| 15. Appendix and Abbrevations |
Key Market Players
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