Small Hydropower Market Worth $3.49 Billion By 2027 | CAGR: 2.0%

Small Hydropower Market Growth & Trends

The global small hydropower market size is expected to reach USD 3.49 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.0% from 2020 to 2027. Cost advantages for installing small hydropower based power generation and the replacement of fossil fuel-based electricity production in an effort to reduce carbon emission into the atmosphere are expected to drive the market.

A supportive regulatory framework for supportable energy in the European Union and the United States is also likely to have a positive influence on market growth. Execution of favorable government regulations such as the Small Conduit Hydropower Development and Rural Jobs Act and Hydropower Regulatory Efficiency Act in the United States and an increasing number of funding programs related to the renewable energy sector in various developed countries, such as Canada and Italy, are some of the factors projected to present future growth prospects.

Increasing investments in small hydropower projects to surge the rural electrification in emerging countries are likely to drive the market. Besides, the assistance in the form of fewer interest loans and allowances, renewable purchase obligations, feed-in tariffs, and financial incentives would further assist the growth of this market. An unstable source as the energy generation that depends upon seasonal lows and highs can curb the growth of the market.

China, India, and Australia are the fastest growing countries contributing mainly to the Asia Pacific market growth. The small hydropower market in Australia is set to expand at a CAGR of 1.9% from 2020 to 2027. The Asia Pacific market is projected to rise during the estimated period owing to the investments in off-grid energy generation and rural electrification. Moreover, the availability of probable sites, along with the presence of a skilled workforce, is expected to favor countries, such as India and China, in market growth.

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Small Hydropower Market Report

Small Hydropower Market Report Highlights

• By type, the mini-hydropower segment is expected to witness the fastest growth over the forecast period
• Asia Pacific is projected to grow at a substantial rate throughout the forecast period. China is expected to account for the maximum share in the Asia Pacific region in the forecast period
• Based on application, the civil construction segment accounted for 32.0% share of total volume in 2019
• Brazil dominated the Central & South America market and is set to reach USD 103.59 million by 2027. Growth in the industrial sector accompanied by a huge hydro potential location owing to the Amazon River will fuel market growth.