WILMINGTON, Del., Oct. 5, 2022 /PRNewswire/ -- In 2021, the value of global small hydropower market stood at US$ 208.8 Bn. The global market is anticipated to progress at 2.69% CAGR during the forecast period, from 2022 to 2031. By 2031, the global small hydropower market is projected to reach US$ 273.8 Bn. The global small hydropower market is being driven by the rising demand for sustainable energy and climbing pollution levels. Power is produced by hydropower without the release of hazardous waste. In addition to maintaining cleaner water and air this environmentally beneficial energy source also helps minimize carbon emissions, which is likely to present lucrative opportunities for the leading players in small hydropower market.
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In response to increasing concerns, governments and businesses all over the world are spending considerably in the research and development of small hydropower projects. The need for energy is rising since industrialization and urbanization are occurring rapidly, which is anticipated to drive future market demand for small hydropower in the years to come.
Small hydropower plants are a dependable and affordable source of energy conversion since they have a prolonged lifespan of up to 50 years. The capacity utilization rate of small hydropower plants is high, reaching up to 50%. In comparison to wind and solar electricity, which contribute to 25% and 20%, respectively, this generates more electricity.
Key Findings of Market Report
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Global Small Hydropower Market: Growth Drivers
Global Small Hydropower Market: Key Players
Some of the key market players are
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Global Small Hydropower Market: Segmentation
Capacity
Region
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