The rising demand for renewable sources of energy is the chief factor aiding the expansion of the global small hydropower market. Currently, Asia Pacific is exhibiting incredible opportunities for the market, holding a position of dominance with a share of over 70% in 2014. The region is projected to maintain its lead over the forthcoming years as well. Europe held the second-leading share of nearly 13% in the market in 2014 and is expected to maintain its position between 2015 and 2023.
Favorable Policies Promoting Rural Electrification to Accelerate Demand for Small Hydropower in Asia Pacific
The market in Asia Pacific can be further sub-segmented into Japan, India, China, and Rest of Asia Pacific. Among these nations, both India and China report a high demand for rural electrifications. With these countries taking proactive initiatives towards ensuring access to electricity even across remote locations and favorable regulations promoting the use of renewable energy, the demand for small hydropower is expected to increase further in the near future.
Some of leading participants in the Asia Pacific small hydropower market are Siemens AG, Voith GmbH, and Alstom AG. Besides these international participants, the market also exhibits substantial representation from the domestic players. Apart from the increase demand for power, favorable regulations such as Rajiv Gandhi Grameen Vidyutikaran Yogjna (RGGVY) will promote the use of energy derived from small hydropower plants in Asia Pacific.
Rising Opportunities in Italy and Russia to Support Market’s Growth in Europe
Besides India and China, the market will also witness lucrative opportunities across Malaysia, Philippines, and Vietnam. In Europe the market will witness rising opportunities in Russia and Italy. The increase share of renewable energy across these countries will give significant impetus to the small hydropower market in Europe.
Some of the other prominent regional markets for small hydropower are North America, South and Central America, and the Middle East and Asia Pacific. ANDRITZ HYDRO GmbH, BC Hydro, and StatKraft AS are a few prominent participants operating in the global small hydropower market.
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