Small Hydropower (SHP) Market Segmentation by Capacity (Up to 1MW, 1-10MW, and Others); by Type (Micro, and Mini Hydropower); and by End-User (Commercial, Utility-Scale, and Others)-Global Demand Analysis & Opportunity Outlook 2021-2031
21 Oct 2022
Energy & Power
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
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Global Small Hydropower (SHP) Market Highlights Over 2021 - 2031
The global small hydropower (SHP) market is estimated to garner a revenue of USD 3059.4 Million by the end of 2031 by growing at a CAGR of 2.1% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market registered a revenue of USD 2497.6 Million. The growth of the market can be attributed to growing demand for electricity worldwide, and the rising focus of the government of the nations for expanding the reach of electrification to the remote areas. According to the statistics by the United Nations Industrial Development Organization (UNIDO), out of the total electricity installed capacity around the world, small hydropower (SHP) represents a share of only around 1.5%. The statistics also stated that SHP represents 4.5% of the total renewable energy capacity and 7.5% of the total hydropower capacity. Despite the SHPs representing a minor share in the overall electricity generation capacity, it plays a major role in improving the lives of the people, especially for those who are living in the rural areas. According to UNIDO, the installed capacity of SHPs globally increased from 71GW in the year 2013 to 78GW in the year 2019, witnessing a growth of 10%. Moreover, the potential of SHPs globally grew by 30% and reached 229GW in the year 2019, up from 177GW in the year 2013.
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Small hydropower (SHP) projects are known to have greater flexibility in its deployment and hence it has paved path for the enhancement of rural electrification, rural economic development and poverty alleviation. The growth of the market can also be attributed to the increasing adoption of renewable energy globally so as to mitigate the negative impact of climate change. According to the statistics by the International Renewable Energy Agency (IRENA), the total renewable energy capacity for electricity around the globe increased from 753288MW in the year 2000 to 2542035MW in the year 2019. Furthermore, increasing government initiatives to promote the adoption of small hydropower, and the rising implementation of the internet of things (IoT) in hydropower electricity generation, are some of the factors anticipated to create numerous opportunities for market growth in the coming years.
Global Small Hydropower (SHP) Market Regional Synopsis
Regionally, the global small hydropower (SHP) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific is anticipated to garner the largest revenue of USD 2123.1 Million by the end of 2031, up from a revenue of USD 1761.2 Million in the year 2021. One of the major factors anticipated to drive the growth of the market in the region is the growing installed renewable energy capacity throughout the years, and therefore the rise in demand for SHPs. In the other statistics by IRENA, out of all the regions worldwide, Asia registered to have the highest renewable energy capacity for electricity. The region witnessed growth in electricity capacity from 171471MW in the year 2000 to 1123348MW in the year 2019.
The market in the region is further segmented by country into China, India, Japan, Vietnam, and the Rest of Asia Pacific. The market in China is anticipated to garner the largest revenue of USD 1764.0 Million by the end of 2031, up from a revenue of USD 1511.4 Million in the year 2021. The market in Vietnam, on the other hand, is expected to grow with the highest CAGR of 4.2% during the forecast period.
Growth Drivers and Challenges Impacting the Growth of the Global Small Hydropower (SHP) Market
Rising focus of Government of Nations Worldwide for Rural Area Electrification
Surge in Adoption of Renewable Energy
- Requirement of Indigenous Technologies and Skilled Workforce
Global Small Hydropower (SHP) Market Segmentation Synopsis
The global small hydropower (SHP) market is segmented by capacity into up to 1MW, 1-10MW, and others. Out of these, the 1-10MW segment is anticipated to garner the largest revenue of USD 2419.5 Million by the end of 2031, up from a revenue of USD 1955.3 Million in the year 2021. By type, the market is segmented into micro hydropower, and mini-hydropower, out of which, the micro hydropower segment is projected to grow with the highest CAGR of 2.7% during the forecast period. By end-user, the market is segmented into commercial, utility-scale, and others. Out of these, the utility-scale segment is anticipated to garner the largest revenue of USD 2182.7 Million by the end of 2031, up from a revenue of USD 1801.1 Million in the year 2021.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global small hydropower market that are included in our report are 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.
Latest Developments in the Global Small Hydropower (SHP) Market:
September 14th, 2021: Toshiba Energy Systems & Solutions Corporation announced that two of its subsidiaries, Toshiba Asia Pacific Indonesia (TAPI), based out of Indonesia, and Toshiba Hydro Power (Hangzhou) Co., Ltd., based out of China, has won a major order for the supply of four hydro turbines for the Kerinci Merangin Hydro Electric Power Plant, located at Sumatra Island, Indonesia.
December 6th, 2017: General Electric Company announced that the hydropower business of GE Renewable Energy has been selected for the supply of two small hydropower plants by ATIAIA ENERGIA S.A. which is to be deployed at Brazil’s Indaia Grande river (Areado plant) and Sucuriu river (Bandeirante plant).
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
The rising focus of government of nations worldwide for rural area electrification, and the surge in adoption of renewable energy, are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 2.1% over the forecast period, i.e., 2022 – 2031.
The availability of low-cost alternative forms of renewable energy, and the requirement of indigenous technologies and skilled workforce are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of small hydropower (SHP) market in future?
The market in the Asia Pacific is anticipated to garner the largest revenue of USD 2123.1 Million by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Siemens Energy, Toshiba Energy Systems & Solutions Corporation, LITOSTROJ POWER d.o.o., General Electric Company, CORNELL PUMP COMPANY, Canyon Hydro, ANDRITZ AG, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by capacity, type, end-user, and by region.
Which segment captures the largest market size in capacity segment in the small hydropower (SHP) market?
The 1-10MW segment is anticipated to garner the largest revenue of USD 2419.5 Million by the end of 2031 and display significant growth opportunities.
1. Market Definition
2. Assumptions and Acronyms
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
4. Executive summary – Global Small Hydropower Market
5. Market Dynamics
6. Regulatory & Standards Landscape
7. Industry Risk Analysis
8. Pricing Analysis of Global Small Hydropower Market
9. Value Chain Analysis
10. Impact of COVID-19 on the Global Small Hydropower Market
11. Competitive Landscape
11.1. Market Share Analysis, 2021
11.2. Competitive Benchmarking
11.3. Company Profiles
11.3.1. Siemens Energy
126.96.36.199. Detailed Overview
188.8.131.52. Assessment of Key Offering
184.108.40.206. Predictive Strategies & Positioning vs. Current Positioning
220.127.116.11. Analysis of Growth Strategies
18.104.22.168. Exhaustive Analysis on Key Financial Indicators
22.214.171.124. Recent Developments
11.3.2. Toshiba Energy Systems & Solutions Corporation
11.3.3. LITOSTROJ POWER d.o.o.
11.3.4. General Electric Company
11.3.5. CORNELL PUMP COMPANY
11.3.6. Canyon Hydro
11.3.7. ANDRITZ AG
11.3.8. HARBIN ELECTRIC MACHINERY COMPANY LIMITED
11.3.9. Bharat Heavy Electricals Limited
11.3.10. Kirloskar Brothers Limited
11.3.11. JAG Energy Co., Ltd.
11.3.12. NiX CO., LTD.
11.3.13. Tokyo Electric Power Company Holdings, Inc.
12. Global Small Hydropower Market
12.1. Market Overview
12.2. Market Size (2021-2031)
12.3. Market Segmentation by:
126.96.36.199. Up to 1MW, 2021-2031F (USD Million)
188.8.131.52. 1-10MW, 2021-2031F (USD Million)
184.108.40.206. Others, 2021-2031F (USD Million)
220.127.116.11. Micro Hydropower, 2021-2031F (USD Million)
18.104.22.168. Mini Hydropower, 2021-2031F (USD Million)
22.214.171.124. Commercial, 2021-2031F (USD Million)
126.96.36.199. Utility-Scale, 2021-2031F (USD Million)
188.8.131.52. Others, 2021-2031F (USD Million)
184.108.40.206. North America, 2021-2031F (USD Million)
220.127.116.11. Europe, 2021-2031F (USD Million)
18.104.22.168. Asia Pacific, 2021-2031F (USD Million)
22.214.171.124. Latin America, 2021-2031F (USD Million)
126.96.36.199. Middle East & Africa, 2021-2031F (USD Million)
13. North America Small Hydropower Market
13.1. Market Overview
13.2. Market Size (2021-2031)
13.3. Market Segmentation by:
188.8.131.52. Up to 1MW, 2021-2031F (USD Million)
184.108.40.206. 1-10MW, 2021-2031F (USD Million)
220.127.116.11. Others, 2021-2031F (USD Million)
18.104.22.168. Micro Hydropower, 2021-2031F (USD Million)
22.214.171.124. Mini Hydropower, 2021-2031F (USD Million)
126.96.36.199. Commercial, 2021-2031F (USD Million)
188.8.131.52. Utility-Scale, 2021-2031F (USD Million)
184.108.40.206. Others, 2021-2031F (USD Million)
220.127.116.11. United States
14.Europe Small Hydropower Market
14.1. Market Overview
14.2. Market Size (2021-2031)
14.3. Market Segmentation by:
18.104.22.168. Rest of Europe
15. Asia Pacific Small Hydropower Market
15.1. Market Overview
15.2. Market Size (2021-2031)
15.3. Market Segmentation by:
22.214.171.124. Rest of Asia Pacific
16.Latin America Small Hydropower Market
16.1. Market Overview
16.2. Market Size (2021-2031)
16.3. Market Segmentation by:
126.96.36.199. Rest of Latin America
17. Middle East & Africa Small Hydropower Market
17.1. Market Overview
17.2. Market Size (2021-2031)
17.3. Market Segmentation by:
188.8.131.52. Rest of Middle East & Africa
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- 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.