소수력발전 시장 예측(-2030년) : 유형, 프로젝트 유형, 컴포넌트, 용량, 최종사용자, 지역별 세계 분석

According to Stratistics MRC, the Global Small Hydropower Market is accounted for $2.3 billion in 2024 and is expected to reach $3.0 billion by 2030 growing at a CAGR of 4.3% during the forecast period. Small hydropowers are hydroelectric power plants with a capacity typically below 10 megawatts. These systems harness the energy of flowing water in rivers, streams, or canals to generate electricity. Small hydropower plants are used to provide energy for local communities, rural electrification, and off-grid applications. They offer a sustainable alternative to fossil fuels, with minimal environmental impact compared to large-scale dams. Small hydropower contributes to energy security, reduces carbon emissions, and supports local economic development in many regions worldwide.

According to the International Energy Agency (IEA), global hydropower capacity is set to increase by 17%, or 230 GW, between 2021 and 2030.

Market Dynamics:

Driver:

Growing demand for clean energy

The increasing global focus on reducing carbon emissions and transitioning to renewable energy sources is a major driver for the small hydropower market. As countries aim to meet climate goals and improve energy security, small hydropower offers a reliable, low-impact source of clean electricity. Its ability to provide baseload power and integrate with other renewables makes it attractive for both grid-connected and off-grid applications. Rising electricity demand, especially in developing regions, further boosts adoption of small hydropower as a sustainable solution for rural electrification and localized power generation.

Restraint:

High investment costs

The high upfront capital costs associated with small hydropower projects pose a significant restraint on market growth. Site assessment, civil works, equipment, and grid connection can be expensive, especially for smaller capacity installations. Long payback periods and uncertainties around water availability and regulations may deter some investors. Limited access to financing in developing regions can also hinder project development. Additionally, the costs of environmental impact assessments and mitigation measures add to overall expenses. These financial barriers can make small hydropower projects less competitive compared to other renewable options with lower initial investments.

Opportunity:

Government support and incentives

Many countries are implementing renewable energy targets, feed-in tariffs, tax benefits, and streamlined permitting processes specifically for small hydropower. Grants, low-interest loans, and public-private partnerships can help overcome initial cost barriers. Policies promoting distributed generation and rural electrification also favor small hydropower deployments. As governments seek to diversify energy mixes and boost local economies, increased support for small hydropower development is likely, creating favorable conditions for market growth and attracting more investment to the sector.

Threat:

Competition from other renewables

The rapid growth and declining costs of other renewable energy technologies, particularly solar and wind power, pose a threat to the small hydropower market. These alternatives often have shorter construction times, lower environmental impacts, and lower levelized costs of electricity. In some regions, they may be more readily available or suitable than hydropower resources. As energy storage technologies improve, intermittent renewables become more competitive for baseload power. Additionally, public perception and environmental concerns favor wind and solar over hydropower. This competition could potentially limit investment and policy support for small hydropower in certain markets.

Covid-19 Impact:

The COVID-19 pandemic initially disrupted small hydropower projects due to supply chain issues, workforce restrictions, and economic uncertainty. However, the crisis also highlighted the importance of reliable, local energy sources. As part of economic recovery plans, many governments increased support for renewable energy projects, including small hydropower, to stimulate green growth and enhance energy security. This renewed focus on sustainable infrastructure may accelerate small hydropower development in the long term.

The 1-10 MW segment is expected to be the largest during the forecast period

The 1-10 MW capacity segment is projected to dominate the small hydropower market due to its optimal balance of power output and environmental impact. This size range is suitable for a wide variety of applications, from powering small communities to feeding into regional grids. It offers economies of scale compared to smaller installations while still being more flexible and easier to implement than larger hydropower projects. The 1-10 MW segment also aligns well with many countries' definitions and incentive structures for small hydropower, making it attractive for developers and investors.

The remote communities segment is expected to have the highest CAGR during the forecast period

The remote communities segment is anticipated to grow at the fastest rate in the small hydropower market. This is driven by increasing efforts to provide electricity access in rural and isolated areas, particularly in developing countries. Small hydropower offers a reliable, off-grid solution that can operate independently or as part of mini-grids. It enables local economic development, improves quality of life, and reduces reliance on diesel generators. As governments prioritize rural electrification and sustainable development goals, investment in small hydropower projects for remote communities is expected to accelerate significantly.

Region with largest share:

Asia Pacific is poised to hold the largest share of the small hydropower market, driven by rapid industrialization, urbanization, and increasing electricity demand in countries like China, India, and Southeast Asian nations. The region has abundant hydropower resources, and many governments are actively promoting renewable energy development. China, in particular, has a small hydropower capacity and continues to invest heavily in the sector. Rural electrification initiatives, supportive policies, and the need for sustainable energy solutions in remote areas further contribute to the region's market dominance.

Region with highest CAGR:

Asia Pacific is also expected to experience the highest growth rate in the small hydropower market. This is fueled by ambitious renewable energy targets, increasing energy demand, and a focus on expanding electricity access in rural areas. Countries like India, Indonesia, and Vietnam are ramping up small hydropower development to diversify their energy mix and reduce reliance on fossil fuels. Growing investment in modernizing existing facilities and developing new projects, coupled with technological advancements and cost reductions, will drive rapid market expansion in the region.

Key players in the market

Some of the key players in Small Hydropower market include Andritz AG, Voith Group, GE Renewable Energy, Siemens AG, Toshiba Corporation, Power Machines, Wartsila Corporation, Bharat Heavy Electricals Limited (BHEL), Gilbert Gilkes & Gordon Ltd., Canyon Hydro, Derwent Hydroelectric Power Ltd., IMPSA (Industrias Metalurgicas Pescarmona S.A.), Norcan Hydraulic Turbine Inc., Mavel a.s., Renetricity Inc., SNC-Lavalin Group Inc., Agder Energi, and Fortum Oyj.

Key Developments:

In May 2024, Bharat Heavy Electricals Limited (BHEL) has entered into a Technology Transfer Agreement (TTA) with Bhabha Atomic Research Centre (BARC) for 50 kW alkaline electrolyser systems for Hydrogen production. The well proven technology offered by BARC is indigenously developed and has high local material content.

In January 2024, Siemens has completed the acquisition of Heliox, a technology leader in DC fast charging solutions, serving eBus and eTruck fleets and passenger vehicles. Headquartered in the Netherlands, Heliox employs approximately 330 people. A first agreement between the two companies was signed in August 2023. The acquisition "complements Siemens' existing eMobility charging portfolio, adding products and solutions ranging from 40 kilowatts (kW) to megawatt charging solutions for depots and en-route charging.

In January 2024, GE Power India Limited said it received an order worth Rs 10.3 crore from state-owned NTPC. The order is for supply of spares and repair of high power inner casing module, GE Power India said in a BSE filing. The order is to be completed in 10.5 months, the company said.

Types Covered:

• Run-of-the-River Hydropower
• Reservoir Hydropower
• Pumped Storage Hydropower

Project Types Covered:

• Greenfields Projects
• Refurbishment Projects

Components Covered:

• Electromechanical Equipment
• Civil Works
• Electrical Infrastructure

Capacities Covered:

• Up to 100 kW
• 101 kW to 1 MW
• 1 MW to 10 MW

End Users Covered:

• Utilities
• Independent Power Producers (IPPs)
• Industrial Consumers
• Remote Communities

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 End User Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Small Hydropower Market, By Type

• 5.1 Introduction
• 5.2 Run-of-the-River Hydropower
• 5.3 Reservoir Hydropower
• 5.4 Pumped Storage Hydropower

6 Global Small Hydropower Market, By Project Type

• 6.1 Introduction
• 6.2 Greenfields Projects
• 6.3 Refurbishment Projects

7 Global Small Hydropower Market, By Component

• 7.1 Introduction
• 7.2 Electromechanical Equipment
  • 7.2.1 Turbines
  • 7.2.2 Generators
  • 7.2.3 Control Systems
  • 7.2.4 Transformers
• 7.3 Civil Works
  • 7.3.1 Dam and Reservoir
  • 7.3.2 Penstock
  • 7.3.3 Powerhouse
• 7.4 Electrical Infrastructure
  • 7.4.1 Transmission Lines
  • 7.4.2 Switchyards
  • 7.4.3 Substations

8 Global Small Hydropower Market, By Capacity

• 8.1 Introduction
• 8.2 Up to 100 kW
• 8.3 101 kW to 1 MW
• 8.4 1 MW to 10 MW

9 Global Small Hydropower Market, By End User

• 9.1 Introduction
• 9.2 Utilities
• 9.3 Independent Power Producers (IPPs)
• 9.4 Industrial Consumers
• 9.5 Remote Communities

10 Global Small Hydropower Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 Andritz AG
• 12.2 Voith Group
• 12.3 GE Renewable Energy
• 12.4 Siemens AG
• 12.5 Toshiba Corporation
• 12.6 Power Machines
• 12.7 Wartsila Corporation
• 12.8 Bharat Heavy Electricals Limited (BHEL)
• 12.9 Gilbert Gilkes & Gordon Ltd.
• 12.10 Canyon Hydro
• 12.11 Derwent Hydroelectric Power Ltd.
• 12.12 IMPSA (Industrias Metalurgicas Pescarmona S.A.)
• 12.13 Norcan Hydraulic Turbine Inc.
• 12.14 Mavel a.s.
• 12.15 Rentricity Inc.
• 12.16 SNC-Lavalin Group Inc.
• 12.17 Agder Energi
• 12.18 Fortum Oyj