Using flowing water to spin turbines and generate electricity is one of the oldest forms of energy production. Hydropower plants range in size from small “micro-hydros” that power a few homes to large dams like the Hoover Dam that provide electricity for millions of people. Hydroelectric projects use a reservoir to store the potential energy of falling water and to control the flow of water through the plant and into long distance power lines. Dams also collect sediment and other particles in a process called siltation. This reduces the amount of energy that can be produced, but Good Energy’s projects are designed to minimize this impact. Hydropower plants are able to be more flexible than fossil-fuel and nuclear power plants because of the kinetic energy of moving water. This allows hydropower to produce electricity when the demand is highest. Electricity demand is very high at 5:00 PM on a summer weekend when millions of air conditioners are turned on, but it drops off quickly at 5:00 AM the next day. Large dams on rivers are the most developed generators of hydroelectric power. These projects meet multiple societal needs, such as irrigation and flood control, in addition to providing a reliable source of electricity. Smaller dams, called run-of-river plants, do not require a reservoir and rely on the kinetic energy of flowing water to spin turbines and generate electricity. A third type of hydropower, pumped storage, uses the energy of rising and falling water to pump water uphill to a reservoir, store it as potential energy, then release it through a turbine during peak energy demand.
Coherent Market Insights estimates that the market for Hydropower Generation Market was estimated at US$ 237.95 billion in 2023, and from 2023 to 2030, it is expected to increase to reach US$ 377.06 billion in 2030 at a compound growth rate (CAGR) of 5.9% over the forecast period.
Leading Companies in the Hydropower Generation Industry:
1. General Electric (GE) Co.
Established in 1892 and headquartered in Boston, Massachusetts, General Electric (GE) Co. is a prominent player in the hydropower generation market. Operating globally, with branches in countries like China and India, the company specializes in various sectors, including power generations. GE is recognized for manufacturing hydroelectric turbines and equipment, emphasizing efficiency, sustainability, digital solutions, and a diverse renewable energy portfolio to optimize energy production and contribute to global clean energy efforts.
2. Turbine Generator Maintenance Inc.
Established in 2005, Turbine Generator Maintenance Inc. specializing in providing maintenance services for hydropower turbine generators. Headquartered in Houston, Texas, the company focuses on ensuring the reliability and optimal performance of turbine generators in the hydropower industry. While specific branch locations and international presence may vary, TGM Inc. has gained recognition for its expertise in turbine generator maintenance and servicing.
3. Toshiba Corporation
Established in 1939, Toshiba Corporation has been a prominent player in the hydropower generation market, providing turbines and generators for global hydropower plants. With headquarter in Tokyo, Japan, Toshiba’s specialization lies in delivering efficient and environmentally conscious hydropower solutions. The company’s innovation include advanced controlled systems, small and micro hydropower technologies, and international projects spanning Asia, Europe, and the America. Toshiba emphasizes environmental sustainability in its hydropower endeavors.
4. Siemens AG
Siemens AG, founded in 1847 and headquartered in Munich, Germany, specializes in providing advanced technologies and equipment and efficient and sustainable hydropower generation. They company’s focus on renewable energy includes digitalization, automation, and modernization of hydropower systems. Siemens has a global presence and is actively involved in hydropower projects worldwide, contributing to environmental sustainability and responsible development.
5. Arani Power Systems
Arani Power Systems, established in 2007, is a player in the hydropower generation market. Based in China, India, the company specializes in providing innovative solutions for hydropower development and operation. While specific international branches are not widely documented, Arani Power Systems has been involved in projects across India, contributing to the company’s renewable energy goals.
6. Elliott Group
Elliott Group, founded in 1910, is a prominent player in the hydropower generation market. Headquartered in Jeannette, Pennsylvania, USA, the company specializes in designing, manufacturing, and servicing turbomachinery, including hydropower systems. With a global presence, Elliott Group expanded through a merger with Ebara International Corporation and established a manufacturing facility in Bengaluru, India in 2019.
*Definition – Hydropower Generation harnesses flowing water’s kinetic energy to produce electricity through turbines, a renewable and sustainable energy source.
