Global Hydro Electricity Market Set For 4.5% Growth, Reaching $400.49 Billion By 2028

The Business Research Company's Hydro Electricity Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The hydroelectricity market has experienced significant growth in recent years. It is projected to increase from $318.98 billion in 2023 to $336.28 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.4%. This historical growth can be attributed to factors such as early industrialization and power generation advancements, extensive dam construction, rural electrification initiatives, energy demands during the world wars, and market deregulation and reforms.

What Is the Estimated Growth Rate and Market Size of the Global Hydro Electricity Market?
The hydroelectricity market is anticipated to experience steady growth in the coming years. It is projected to reach $400.49 billion by 2028, with a compound annual growth rate (CAGR) of 4.5%. This growth during the forecast period can be linked to renewable energy targets, the integration of storage solutions, the role of hydropower in climate resilience strategies, infrastructure investment, and supportive policies and incentives.

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What Are The Significant Drivers Behind The Growth Of The Hydro Electricity Market?
The rising global demand for electricity is projected to drive the growth of the hydroelectricity market. Electricity demand refers to the total amount of electricity consumed by a specific country, region, or sector within a defined timeframe. Hydroelectricity generates power by utilizing the energy of flowing water, usually sourced from rivers or dams. This method provides a sustainable, clean, and dependable source of energy, effectively meeting electricity requirements.

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Which Top Companies Are Shaping The Growth Of The Hydro Electricity Market?
Key players in the hydro electricity market include Midea Group, Hitachi Ltd., Panasonic Corporation, Haier Group, Specialty Refrigeration and Equipment, Daikin Global, Gree Electric Appliances Inc., Johnson Controls International plc, Carrier Corporation, Whirlpool Corporation, Illinois Tool Works Inc., Electrolux AB, Snow River Chillers, Fukushima Galilei Co. Ltd, Lotte Engineering & Machinery Mfg. Co., Dover Corporation, Ingersoll-Rand Plc, GEA Group AG, Hoshizaki Corporation, Blue Star Limited, Standex International Corporation, Arneg S.p.A

Which Emerging Trends Are Reshaping the Hydro Electricity Market Size?
Leading companies in the hydroelectricity market are concentrating on strategic initiatives to advance the 480 MW Phukot hydro project, aiming to boost productivity and maintain their competitive edge in the market.

What Are The Segments In The Global Hydro Electricity Market?
1) By Product Type: Dike Type, Diversion Hydropower Station, Mixed Type, Tide, Pumped Storage
2) By Capacity: Large, Medium, Small
3) By Application: Residential, Commercial, Industrial

Asia-Pacific: Largest Region in the Hydro Electricity Market

Asia-Pacific was the largest region in the market in 2023. Western Europe was the second-largest region in the market share. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is The Hydro Electricity Market Defined?
Hydroelectricity is a renewable energy source that produces power by utilizing a dam or diversion structure to modify the natural flow of a river or other water body. Hydropower plants convert the kinetic energy of flowing or falling water into electrical energy, which is then supplied to power transmission systems.

The Hydro Electricity Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Hydro Electricity Market Report: Trends, Opportunities, Strategies, and More
The Hydro Electricity Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into hydro electricity market size, hydro electricity market drivers and trends, hydro electricity competitors' revenues, and hydro electricity market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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