Growing government initiatives to increase hydropower capacity are expected to drive growth in the hydropower market. The increase in need for dependable sources of power is projected to drive market expansion once again. For example, hydropower has been a proven renewable energy supply that has been created and used in all locations for over a century. Hydropower plants can swiftly transition from zero to maximum production, making them particularly adept at supplying rapidly shifting electricity demands throughout the day. The negative environmental effect of hydropower is projected to limit industry growth. A dam and a reservoir are common features of hydroelectric power projects. These constructions may block fish movement and have an impact on fish populations. The operation of a hydroelectric power plant may also affect the temperature and flow of the river. These alterations are expected to have a negative impact on native plants and animals in the river and on land. Moreover, flooding land for a hydropower reservoir has severe environmental consequences, destroying forests, agricultural land, and picturesque places. Another important aspect expected to stymie industry expansion is the high initial cost of hydroelectric infrastructure.
According to Coherent Market Insights, the global Hydropower Market was valued at US$ 201.4 Bn in 2021 and is forecast to reach a value of US$ 337.7 Bn by 2030 at a CAGR of 5.9% between 2022 and 2030.
Leading Companies in the Hydropower Industry:
1. General Electric Company
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. General Electric Company was incorporated in 1892 and is headquartered in Boston, Massachusetts. In July 23, 2019 GE Renewable Energy announced that it has signed two hydropower contracts in the United States, one for FirstLight’s Northfield Mountain project and one for PG&E’s Caribou One hydropower station. In February 2021, GE Renewable Energy completes a new 500 MW Lower Kaleköy Hydropower plant in Turkey. The project includes 3 x 155 MW Francis turbines and related equipment for the Lower Kaleköy project.
2. Siemens AG
Siemens is an engineering and electronics company that specializes in the fields of industry, energy, transportation, and healthcare. The company was founded in 1847 and is headquartered in Munich, Germany. Siemens' principal activities are in the fields of industry, energy, transportation, and healthcare. In March 2024, Siemens has announced the launch of Sinamics G220, a new high-performance frequency converter with clean power technology that reduces harmonics by up to 97 percent without the need for additional chokes. It is the first Sinamics drive to be part of the Siemens Xcelerator portfolio, enabling digital twin capability, and an integral part of the TIA portal. In October 2019, Siemens announced the name of the new independent energy company – Siemens Energy AG, which combines the oil and gas, power generation, and power transmission segments.
3. Andritz AG
Andritz AG provides plants, equipment, and services for pulp and paper industry, metalworking and steel industries, hydropower stations, and solid/liquid separation in the municipal and industrial sectors. It operates through four segments: Pulp & Paper, Metals, Hydro, and Separation. It operates primarily in Europe, North America, South America, and China and rest of Asia. The company was founded in 1852 and is headquartered in Graz, Austria. In 2022/03/24 International technology group ANDRITZ and the Electricity Generating Authority of Thailand (EGAT) signed a Memorandum of Understanding (MoU) to jointly explore and expand business opportunities for hydropower projects in Thailand and surrounding countries. In February 2021, ANDRITZ announced that they had received an order from TIWAG-Tiroler Wasserkraft AG to supply two motor-generators for the new Kühtai 2 pumped storage power plant in Austria.
4. China Yangtze Power Co. Ltd
China Yangtze Power Co., Ltd., together with its subsidiaries, engages in operation, management, consultation, investment, and financing of hydropower stations in the People's Republic of China. The company owns, operates, and manages hydropower generation assets in the Three Gorges, Gezhouba, Xiluodu, and Xiangjiaba with an installed capacity of 45,495 MW. he company was founded in 2002 and is based in Beijing, the People's Republic of China. China Yangtze Power Co., Ltd. is a subsidiary of China Three Gorges Corporation.
5. PJSC RusHydro
Federal Hydro-Generating Co. RusHydro PJSC is engaged in the power generation and production using renewable energy sources. It operates through the following business segments: Generation, Retailing, Research and Development Institutes, Repair, and Contractors. The company was founded on December 26, 2004 and is headquartered in
6. Électricité de France SA (EDF)
EDF is an electric utility company that provides heat humps. Wind turbines, photovoltaic, and geothermal energy. It serves small businesses, local authorities, and industrial and residential customers. They also generate electricity through nuclear, fossil fuel, hydro, solar, wind, biomass, biogas, tidal, geothermal, and cogeneration plants. EDF was founded in 1946 and is headquartered in Paris, Ile-de-France, France.
7. Iberdrola SA
Iberdrola, S.A. engages in the generation, transmission, distribution, and supply of electricity in Spain and internationally. Iberdrola, S.A. was founded in 1840 and is headquartered in Bilbao, Spain.
*Definition- Hydropower, also known as water power, is an energy source that generates electricity by using fast-moving, falling water. It makes use of two types of energy: gravitational potential energy and kinetic energy. Hydropower is a sustainable source of energy.
