Wed. Oct 4th, 2023
    Small Hydropower Market to Witness Growth by 2023

    The small hydropower market is expected to witness significant growth by 2023, according to a recent report. Factors such as economic policies, geopolitical events, and technological advancements are expected to influence the market conditions.

    Several key players, including ANDRITZ, SNC-Lavalin Group, MavelAS, Siemens Gas and Power GmbH and Co. KG, and Voith GmbH and Co. KGaA, are driving the market forward. Additionally, companies like Natel Energy, Inc., GENERAL ELECTRIC, Kolektor, Gilkes Hydro, and TOSHIBA CORPORATION are also active in the industry.

    Small hydropower is a clean energy source that produces no water or air pollution. It offers a promising option for generating sustainable and cost-effective energy, particularly in rural or developing areas. It is classified into three types: small hydro (1 MW to 20 MW), mini hydro (100 kW to 1 MW), and micro hydro (5 kW to 100 kW).

    The COVID-19 pandemic has had a significant impact on the global economy, including the small hydropower market. The disruption of global supply chains and decreased demand for non-essential goods and services have affected various industries. However, certain sectors such as healthcare, online retail, and delivery services have experienced increased demand.

    The global small hydropower market size was valued at USD 2352.24 Million in 2022 and is projected to reach USD 2811.92 Million by 2028. The market is expected to grow at a CAGR of 3.02% during the forecast period of 2022-2028.

    The small hydropower market report provides comprehensive data on market introductions, segmentations, industry chain analysis, competitive landscape, company profiles, and trade statistics. The report also includes an analysis of the impact of COVID-19 on the market and offers strategies for companies to deal with the pandemic’s effects.

    In conclusion, the small hydropower market is expected to grow significantly in the coming years. The demand for clean energy sources and the favorable environmental impact of small hydropower make it a promising option for sustainable energy production.

    – Small Hydropower Market Analysis 2023 (source article)
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