Hydropower Plant Market Competitive Analysis and Forecast 2023-2030

Posted February 14, 2023 by sandrak1

The global hydropower plant market is expected to exhibit strong growth, reaching USD 308.7 billion by 2030.

The global hydropower plant market is expected to exhibit strong growth, reaching USD 308.7 billion by 2030. As per the report titled "Hydropower Plant Market Size, Share & COVID-19 Impact Analysis, By Product Type (Large Hydropower, Small Hydropower and Other Sizes), By End Users/Application (City Power Supply, Industrial Power Supply, Military Power Supply and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 209.4 billion and USD 308.7 billion in 2030. The market is expected to exhibit a CAGR of 5.70% during the forecast period.
Isagen SA, a Provider of Electricity in Colombia, was Given a Contract to Buy two 19.9 MW Hydropower Facilities

In February 2021, a contract for the procurement of two 19.9 MW hydropower plants of a lesser scale in the Antioquia region was awarded to the Colombian electricity supplier Isagen SA. This project, which cost the corporation about USD 194.8 million, has assisted in increasing renewable energy generation.

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Global Hydropower Plant Market Being Driven by Growing Green Energy Awareness

Growing interest in green energy is anticipated to present profitable opportunities for companies in the hydropower plant market. Companies are looking for more efficient alternatives to traditional energy sources as a result of the implementation of strict restrictions to minimise greenhouse gas and carbon dioxide emissions. Hydropower facilities are respectable substitutes for energy produced from fossil sources. When energy is produced using fossil fuels, greenhouse gases are released into the atmosphere. These gases have the potential to seriously harm the environment, including air and land pollution and global warming.
Lack of Resources could Prevent Market Growth for Hydropower Plant

The amount of resources that can be used to generate hydropower has become one of the biggest obstacles to the industry's expansion. The amount of facilities that are available in developing and underdeveloped nations is proving to be a significant barrier to the expansion of the hydropower plant. To enable energy production on a wider scale, the governments of underdeveloped countries have entered into several collaborations with industrialized countries.
Major Players Develop Acquisition Plans to Boost Brand Image

The leading businesses in the hydropower plant market plan acquisitions to improve their brand recognition globally. For instance, In September 2019, Voith Hydro established a presence in Nepal. This project was started by Voith Hydro, supplying hydropower planr to Nepal since 1968, to increase its clientele and provide top-notch service.
Recent Developments:
In May 2020, Voith and Landsvirkjun, Iceland's main energy supplier, together launched a pilot study on cutting-edge cavitation monitoring in hydropower plants. As an add-on feature for the business's OnCare Health Hydro conditioning monitoring system, cutting-edge machinery was installed at the Budarhals hydropower station in Iceland.
List of Key Players Profiled in the Report
Itaipu Dam
Longtan Dam
Xiaowan Dam
Laxiwa Dam
Grand Coulee
Ust Ilimskaya
Three Gorges Dam
Churchill Falls

View More Information :  https://marketsnresearch.com/report/1628/global-hydropower-plant-market

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Issued By sandra
Country United States
Categories Accounting
Tags hydropower plant market
Last Updated February 14, 2023