Global Small Hydropower (SHP) Market to Grow on the Back of Surge in the Adoption of Renewable Energy Globally; Market to Grow with a CAGR of 2.1% During 2022-2031

 

Kenneth Research has released a report titled “Small Hydropower (SHP) Market: Global Demand Analysis & Opportunity Outlook 2031” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

In one of the statistics by the International Renewable Energy Agency (IRENA), the total renewable energy capacity for electricity around the world increase from 753288MW in the year 2000 to 2542035MW in the year 2019.

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The statistics portray the growing focus of the government of nations worldwide on adopting renewable energy, such as hydroelectricity, so as to mitigate the negative impact of climate change. Several nations worldwide are increasingly setting up hydroelectric projects, which is one of the major factors anticipated to drive the demand for small hydropower (SHP) components. Besides this, the increasing initiatives of the government that promote the adoption of SHPs is also expected to boost the growth of the global small hydropower market in the coming years.

The global small hydropower (SHP) market is anticipated to grow with a CAGR of 2.1% over the forecast period, i.e., 2022 – 2031. The market is estimated to garner a revenue of USD 3059.4 Million by the end of 2031. Moreover, in the year 2021, the market generated a revenue of USD 2497.6 Million. The market is segmented by capacity into up to 1MW, 1-10MW, and others. The 1-10MW segment, out of all the other segments, is anticipated to garner the largest revenue of USD 2419.5 Million by the end of 2031. Additionally, the segment generated a revenue of USD 1955.3 Million in the year 2021.

By region, the global small hydropower (SHP) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 2123.1 Million by the end of 2031. Additionally, the market in the region registered a revenue of USD 1761.2 Million in the year 2021.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

However, the availability of low-cost alternative forms of renewable energy, and the requirement of indigenous technologies and skilled workforce are predicted to hinder the market growth in the coming years.

This report also provides the existing competitive scenario of some of the key players of the global small hydropower (SHP) market, which includes company profiling of Siemens Energy, Toshiba Energy Systems & Solutions Corporation, LITOSTROJ POWER d.o.o., General Electric Company, CORNELL PUMP COMPANY, Canyon Hydro, ANDRITZ AG, HARBIN ELECTRIC MACHINERY COMPANY LIMITED, Bharat Heavy Electricals Limited, Kirloskar Brothers Limited, JAG Energy Co., Ltd., NiX CO., LTD., Tokyo Electric Power Company Holdings, Inc., and others.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Small Hydropower (SHP) Market: Global Demand Analysis & Opportunity Outlook 2031”, analyses the overall global small hydropower (SHP) industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global small hydropower (SHP) market in the near future.

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