Hydropower Market - Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023
Market Highlights The global volatility in fossil fuel prices along with initiatives towards energy security will further complement the hydropower industry landscape. Hydropower is one of the oldest sources of energy which was used for thousands of years ago, to turn paddle wheels that help grind grain. Hydropower is a versatile, sustainable technology and it is the world’s largest source of the renewable energy and currently accounts for about 20% of the world’s total electricity supply. Hydropower has one of the best of conversion of all known energy sources. Harnessing water maturely can help take electricity access to millions of people. Stable, reliable and affordable electricity supply is also crucial for driving economic growth and ending the global poverty. Hydropower are classified based on their capacity as mini hydropower, micro and pico hydropower, small hydropower and large hydropower. Hydropower Market is expected to grow over the CAGR of more than 3% during the period 2017 to 2023. Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/4368 Asia-Pacific region is expected to grow at the fastest rate. The mechanical energy storage market in the Asia-Pacific region is currently leading and is followed by Europe and North America market. The rapid industrial development in the countries such as India and China where there are issues with continuous reliable electricity supply, is driving the market for mechanical energy storage. Also R&D and utilization of modern flywheels in China and India with growing trend of compressing air and storing them it in large repositories, such as underground salt caverns, and releasing it to drive a turbine during periods of demand will drive mechanical energy storage market. Key Players The key players of global hydropower market are Voith GmbH (Germany), ANDRITZ HYDRO GmbH (Austria), General Electric Company (U.S), China Three Gorges Corporation (China), Alfa Laval (Sweden), Metso Corporation (Sweden), Hydro-Québec (Canada), ABB Ltd (Switzerland), Engie (France) and Tata Power Corporation (India). Scope of the Report The scope of the study segments the global hydropower market by its capacity and by region. By Capacity Mini Hydropower Micro and Pico Hydropower