Hydro Electricity Global Market Sees Growth Rate Of 14% Through 2022
6 Jan, 2022
The global hydro electricity market size is expected to grow from $261.97 in billion 2021 to $297.49 billion in 2022 at a compound annual growth rate (CAGR) of 13.6%. The growth in the hydro electricity market 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 hydroelectricity market is expected to reach $480.76 billion in 2026 at a CAGR of 12.7%.
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What is the Global Hydro Electricity Market?
The hydropower generation market consists of sales of hydropower energy and related services. The hydropower generation industry includes companies that are mainly involved in operating hydropower generation 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.
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What drives the Global Hydro Electricity Market?
Favorable laws in emerging countries are projected to drive the hydropower generation market. Governments across the globe are introducing policies that aid the growth of hydropower generation market. For instance, 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 favorable laws will boost the demand for hydropower and in turn drive the market.
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https://www.thebusinessresearchcompany.com/report/hydro-electricity-global-market-reportGlobal Hydro Electricity Market Segments
The global hydro electricity market is segmented:
By Product Type: Dike Type, Diversion Hydropower Station, Mixed Type, Tide, Pumped Storage
By Capacity: Large, Medium, Small
By Application: Residential, Commercial, Industrial
By Geography: The regions covered in the hydro electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Hydro Electricity Global Market Report 2022provides market size and growth forecasts for the global hydro electricity market, global hydro electricity market share, hydro electricity market segments and geographies, hydro electricity market competitive landscape including leading competitors’ revenues, profiles and market shares. The hydro electricity market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Hydro Electricity Industry Playersinclude Alstom Power, GE Energy, Tata Power Company, Hydrochina International, CPFL Energia, Sinohydro Corporation, RusHydro, Andritz, Agder Energi SA, GE, Voith Group, ABB Ltd, Duke Energy, Acciona Energia, S.A, Ontario Power Generation, Statkraft, Nepal Electricity Authority, Hydro-Quebec, Georgia Power, Mitsubishi Heavy Industries, Ltd, MidAmerican Energy Holdings Company, Ertan Hydropower Development Company, Ltd, OJSC Bashkirenergo, China Three Gorges Corporation, China Hydroelectric Corporation, IHI Corporation, BC Hydro, EDP Energias do Brasil SA, China Yangtze Power Co. Ltd, and Vattenfall AB. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.