San Francisco, 22
October 2018: The global installed capacity for hydropower is
expected to reach 1,524 GW by 2020, according to a new study by Grand View
Research, Inc. Cost advantages of hydropower based electricity generation and
the substitution of fossil fuel based power production in an attempt to reduce
carbon emission is expected to drive market demand. According to the estimates
of the International Energy Agency (IEA), the deployment of sustainable
hydropower as proposed by this organization will help avoid approximately one
billion tones of annual carbon dioxide emission by 2050.
Rapid rise in demand for
renewable energy especially in China, India and Brazil and the construction of
key hydropower projects including the installation of 32 turbines and the
completion of the third phase of the Three Gorges Dam in China in 2012, will
fuel the future growth of this market. Supportive regulatory framework for
sustainable energy in the U.S. and European Union is also expected to have a
positive impact on market demand. Implementation of favorable government
regulations such as the Hydropower Regulatory Efficiency Act and Small Conduit
Hydropower Development and Rural Jobs in the U.S. and growing number of funding
programs pertaining to the renewable energy sector in developed countries such
as Italy and Canada are some of the factors which are expected to present
future growth opportunities.
Access Research Report
of Hydropower Market@ www.grandviewresearch.com/industry-analysis/hydropower-industry
Further Key findings from the study suggest:
· Industrial applications dominated demand in
2012, accounting for over 40% of the global installed capacity. The global
industrial applications market is expected to reach 694.41 GW in installed
capacity by 2020.
· Asia Pacific is expected to be the most
dominant regional market by 2020, with China expected to lead hydropower
consumption. China is also expected to be the fastest growing market, at an
estimated CAGR of 6.2% from 2013 to 2020, to reach an installed capacity of
over 400 GW in 2020. The presence of an extensive amount of hydropower projects
currently under construction will drive this market.
· Some of the prominent hydropower projects
in China include the Baihetan dam (expected to be completed in 2019), the
Wudongde and Xiangjiaba dam (expected to be completed in 2015) and the Xiluodo
project.
· Key players of this market include GE
Energy, Andritz AG, China Hydroelectric Corporation, China Three Gorges
Corporation, American Hydro Corporation, Alstom Hydro, The Tata Power Company,
ABB Ltd and others.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has
segmented the global hydropower market on the basis of application and region:
Hydropower Application Outlook
·
Industrial
·
Residential
·
Commercial
Hydropower Regional Outlook
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access Press Release of
Hydropower Market@ www.grandviewresearch.com/press-release/global-hydropower-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment