Transparency Market Research has published a new report "Small Hydropower Market, by installed capacity - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2015 - 2023 " to its report store.
Albany, NY -- (SBWIRE) -- 06/22/2016 -- A research report on the global small hydropower market for published by Transparency Market Research (TMR), estimates the market to expand at a CAGR of 2.85% during the period from 2015 and 2023. In 2014, the market stood at 110.77 GW in terms of installed capacity. Analysts expect this market to reach an installed capacity of 146.65 GW by the end of the forecast period.The research report is titled "Small Hydropower Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2015 – 2023."
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Small hydropower refers to hydroelectric power plant with a very small installed capacity. Although the upper limit of installed capacity of these power plants varies from country to country, small hydropower with an installed capacity of equal to or less than 10 MW is mostly utilized across the world. The emission-free, efficient, renewable energy, which can be utilized on-grid as well as off-grid, produced by small hydropower is boosting its popularity remarkably in the global arena.
Small hydropower plants are ideal for remote areas with no infrastructure to support electricity transmission. This factor is significantly driving growth of the small hydropower market, worldwide, states the report.
The research report studies the global market for small hydropower on the basis of its regional spread. North America, South and Central America, Asia Pacific, Europe, and the Middle East and Africa have been identified as the key regional markets for small hydropower. In 2014, Asia Pacific led the global market with a share of 70.3%. Europe emerged second in the overall market that year and was closely followed by North America.
China dominates the small hydropower market in Asia Pacific and is followed by Japan and India. Various initiatives of the Government of China such as tax credits and incentives for the installation of small hydropower systems are driving the China market for small hydropower.
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The Europe small hydropower market has been led by Italy since the last few years. The trend is expected to continue during the forecast period. The implementation of well-structured policies and high investments to increase research and development activities in the field of small hydropower are likely to stimulate the market in Italy over the next few years.
The U.S. and Canada are leading the North America market for small hydropower and Nigeria, Kenya, and Egypt are driving the market in the Middle East and Africa. The increasing demand for electricity is likely to propel the Middle East and Africa small hydropower market significantly during the forecast period, notes the research study.
Analysts have also studied this market taking its competitive landscape into consideration. The profiles of major players functioning in this market have been evaluated to determine the current market hierarchy. Voith GmbH, Alstom, Ontario Power Generation Inc., Fortum Oyj, StatKraft, BC Hydro, Andritz AG, Agder Energi AS, RusHydro, and Siemens AG are the leading market participants profiled in this research report.
The global small hydropower market is segmented into:
Middle East and Africa
South and Central America
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