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.
Browse full research report for hydropower market: http://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.
Request for sample of this research
report: http://www.grandviewresearch.com/industry-analysis/hydropower-industry/request
For
the purpose of this study, 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
• U.S.
• Europe
• UK
• Spain
• Germany
• France
• Italy
• Asia Pacific
• India
• China
• Japan
• RoW
• Brazil
Browse more reports of this category by Grand
View Research: http://www.grandviewresearch.com/industry/renewable-energy
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
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