Hydropower Plant Construction Market size to increase by USD 24.63 billion during 2022-2027| Growing electricity demand to drive the market growth- Technavio

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Dec 01, 2023, 14:30 ET

NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The Hydropower Plant Construction Market size is expected to grow by USD 24.63 billion, accelerating at a CAGR of 5.9% during the forecast period. Rapidly escalating electricity demand, driven by population growth and economic expansion, has prompted countries to turn to hydropower as a reliable and sustainable electricity generation source. This trend has significantly boosted the global market for constructing hydropower plants. Hydropower's renewable nature and minimal environmental impact make it an appealing choice for nations seeking to meet their increasing energy needs. The push for balancing electricity supply and demand has further accelerated the development of new hydroelectric power facilities, collectively driving the market's growth prospects during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample

Technavio has announced its latest market research report titled Global Hydropower Plant Construction Market 2023-2027

Hydropower Plant Construction Market 2023 – 2027: Key Highlights:

The report recognizes the following as some of the major companies in the hydropower plant construction market: A Energi, British Columbia Hydro and Power Authority, Centrais Eletricas Brasileiras SA, China Yangtze Power Co. Ltd., Doosan Enerbility Co. Ltd., Duke Energy Corp., Enel Spa, ESFC Investment Group, Himal Hydro and General Construction Ltd., Hindustan Construction Co. Ltd., Hydro Quebec, ITD Cementation India Ltd., Mannvit, Meidensha Corp., Navayuga Group, P and R InfraProjects Ltd., RusHydro, Snowy Hydro Ltd., and Southern Co.
Hydropower Plant Construction Market is fragmented in nature.
Market to observe 5.35% YOY growth in 2023.

Hydropower Plant Construction Market 2023 – 2027: Market Dynamics:

Trend

Growing interest in micro hydropower projects due to eco-friendly and cost-effective advantages.
Focus on small-scale hydroelectricity for utilizing local water resources.
Micro hydropower plants are adaptable to small streams and rivers, unlike large-scale projects needing extensive dam structures.
Small hydropower enhancing rural communities' living standards by improving access to power, education, healthcare, and economic opportunities, positively influencing market growth expectations.

Challenges

Significant technological advancements in renewable energy are a potential threat to the hydropower plant construction market.
The increasing efficiency and cost-effectiveness of solar and wind energy challenges the dominance of hydroelectric power.
Growing preference for solar and wind alternatives diminishes the demand for hydroelectric power plants.

The report also covers information on the upcoming trends and challenges. Explore detail information by purchasing report

Hydropower Plant Construction Market 2023 – 2027: Keg Segments:

The market is segmented by Capacity (Large hydropower plants, Medium hydropower plants, Small hydropower plants, and Others), Type (Pumped storage, Impoundment, and Diversion), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

The forecast predicts substantial growth in the large hydropower plants segment during the forecast period. Within the global market for constructing hydropower plants, there are diverse capacity-based classifications. Among these, the development of large-scale hydropower plants stands out as a crucial segment essential for fulfilling the rising need for renewable energy resources. These plants, characterized by a capacity exceeding 50 MW, are renowned for their capability to produce substantial amounts of electricity.

Get a glance at the market contribution of the segments, Request Sample Report Here

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TOC:

Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Capacity
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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