North America Hydropower Market Size (2024 - 2029)

The North American hydropower market is anticipated to experience modest growth over the forecast period, driven by increased investments in hydropower plants and a rising demand for renewable energy. Despite challenges such as high initial construction costs and regulatory constraints in the United States electricity market, advancements in technology and reductions in production costs are expected to offer significant opportunities for market expansion. The United States is projected to be the largest market in the region due to its substantial existing hydropower capacity and ongoing investments in the sector.

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Market Size of North America Hydropower Industry

North America Hydropower Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 1.00 %
Market Concentration Medium

Major Players

North America Hydropower Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Hydropower Market Analysis

The North American hydropower market is expected to register a CAGR of more than 1% during the forecast period.

In 2020, COVID-19 negatively impacted the market. Presently, the market has reached pre-pandemic levels.

  • Over the next five to ten years, the market will likely be driven by investments in hydropower plants and the demand for renewable energy.
  • On the other hand, the growth of the market is likely to be slowed by the high initial cost of building and the fact that the United States electricity market is regulated.
  • Nevertheless, the technological advancements in efficiency and decrease in the production cost of hydropower projects are expected to create ample opportunity for market players.

The United States is expected to be the biggest market for hydropower in the region. This is because the country is investing more in the sector and has the most hydropower energy already installed.

North America Hydropower Industry Segmentation

Hydropower, or hydroelectric power, is one of the oldest and most significant renewable energy sources. It uses the natural flow of moving water to generate electricity.

The North American hydropower market is segmented by type and geography. By type, the market is segmented into large hydropower, small hydropower, pumped storage, and others. The report also covers the size and forecasts of the North American hydropower market across the major countries in the region. For each segment, the market sizing and forecasts have been done based on installed capacity in gigawatts (GW).

Type
Large Hydropower
Small Hydropower
Pumped Storage
Other Types
Geography
United States
Canada
Mexico
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North America Hydropower Market Size Summary

The North American hydropower market is poised for growth, driven by increasing investments in renewable energy and advancements in technology that enhance efficiency and reduce costs. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The United States is expected to lead the region's market due to its substantial investments and existing hydropower infrastructure. The country's diverse geographical features, such as the Mississippi River and the Rocky Mountains, provide ideal conditions for hydropower development. Additionally, the use of pumped hydro storage is gaining traction as a reliable source of 24-hour electricity, complementing other renewable energy sources like solar and wind. New projects, such as the Seminoe pumped storage project in Wyoming and the Marmora Pumped Storage Project in Canada, are set to further boost the market's growth.

Despite the promising outlook, the market faces challenges, including the high initial costs of construction and regulatory constraints in the U.S. electricity market. However, the potential for untapped hydropower resources, including significant pumped storage capacity, presents opportunities for expansion. The market is characterized by a mix of established players and new entrants, with companies like Duke Energy Corporation, Hydro-Québec, and BC Hydro & Power Authority playing key roles. Government initiatives, such as funding from the U.S. Department of Energy to enhance hydropower flexibility and grid reliability, underscore the sector's strategic importance. As the market continues to evolve, the focus on sustainable and efficient energy solutions is expected to drive further growth in the coming years.

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North America Hydropower Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Hydropower Installed Capacity and Forecast in GW, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Large Hydropower

      2. 2.1.2 Small Hydropower

      3. 2.1.3 Pumped Storage

      4. 2.1.4 Other Types

    2. 2.2 Geography

      1. 2.2.1 United States

      2. 2.2.2 Canada

      3. 2.2.3 Mexico

North America Hydropower Market Size FAQs

The North America Hydropower Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)

Duke Energy Corporation, Hydro-Québec, BC Hydro & Power Authority, Georgia Power Company and Andritz AG are the major companies operating in the North America Hydropower Market.

North America Hydropower Report Snapshots

North America Hydropower Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)