Hydropower Market Size

Hydropower Market size surpassed 1,385.7 GW in 2022 and is projected to grow at a CAGR of 1.7% from 2023 to 2032. There is a growing emphasis on sustainable hydropower development, focusing on minimizing environmental and social impacts. Retrofitting and modernization efforts aim to optimize power generation, improve safety features, and comply with evolving regulations, which will stimulate the deployment of new hydropower installations.

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Moreover, decentralized hydropower projects, including micro-hydropower, are being implemented to provide clean electricity to remote communities. These systems often use small-scale turbines and are designed to be environmentally friendly and socially beneficial, which is further set to bolster the industry growth globally.

Large-scale hydropower projects can have significant environmental impacts, including habitat alteration, disruption of aquatic ecosystems, and the potential for greenhouse gas emissions from the decomposition of organic matter in reservoirs. The construction of dams, reservoirs, and associated infrastructure involves substantial costs, making it financially challenging for some countries or investors. High capital costs can also lead to project financing difficulties and longer payback periods. However, international cooperation and investment in hydropower market continue to play a significant role in increasing the product deployment.