Hydropower Market Share, Size, Trends, Growth, Industry Analysis and Forecast to 2020
by Susan Hill Business ConsultantGlobal Hydropower Market capacity is expected to grow
to 1,525 GW by 2020. Although fossil
fuels continue to be the most popular form of generating electricity, their
reserves are fast depleting. Moreover, this type is associated with
environmental damage. This has contributed to the development of alternative
energy sources such as hydropower.
Hydropower
does not lead emit greenhouse gases and toxic waste. It is one of the cheapest
sources and offers a huge cost advantage to vendors. The IEA (International
Energy Agency) foresees use to hydropower to reduce carbon emissions by about
one billion tones, by 2050.
Flowing
water is readily available due to the natural phenomena of rainfall and snow.
Based on the requirement, turbines are conveniently adjusted to control the
flow of water. These factors are expected to prove favorable for market growth.
A significant part of this growth would be through run-of-river and pumped
storage hydropower projects.
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Hydropower
plants vary in generation capacity. They can be categorized into pico-hydro,
micro, small, & large. Pico and micro have a capacity of less than 100 KW.
While small encompass those with capacities between 100 KW to 30 MW, large
include those having installed capacity of over 30 MW.
The
worldwide hydropower market is split according to applications and geographies.
Applications consist of residential, industrial, & commercial. Industrial
applications held about 41% of the total installed capacity in 2012. They would
account for 695 GW of hydropower by 2020.
Geographical
segmentation comprises North America, Asia Pacific, Europe, & RoW (Rest of
the World). Brazil was the largest regional market in Latin America. Asia
Pacific could grow to lead the worldwide industry by 2020. China is projected
to grow at a CAGR of 6.1% from 2013 to 2020. This can be attributed to several
hydropower projects being developed in this nation. The most prominent ones
include the Baihetan dam, the Xiluodo project, and the Wudongde &
Xiangjiaba dam. China’s installed capacity should exceed 400 GW in 2020,
rendering it the most-dominant market.
Key
players of the global hydropower market are China Hydroelectric Corporation,
Andritz AG, China Three Gorges Corporation, & American Hydro Corporation.
Alstom Hydro, ABB Ltd., & The Tata Power Company are some of the other
well-known suppliers.
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Created on Oct 12th 2017 05:24. Viewed 426 times.