Small Hydropower Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 3.48 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Small Hydropower Market Analysis
The Small Hydropower Market size in terms of installed base is expected to grow from 90.39 gigawatt in 2024 to 107.12 gigawatt by 2029, at a CAGR of 3.48% during the forecast period (2024-2029).
- Over the medium term, factors like increasing investment in the small hydropower market and increasing demand for clean electricity are expected to drive the market.
- On the other hand, an unstable energy supply significantly hinders market growth.
- Nevertheless, integrating IoT with hydropower and the positive outlook toward small hydropower dams to sustain lives in rural communities are expected to create enormous opportunities for the Small Hydropower Market.
- Asia-Pacific is expected to be the largest market in the forecast period due to the high demand for electricity in the region. This will facilitate further growth.
Small Hydropower Market Trends
The 1-10 MW Segment Expected to Dominate the Market
- During the forecast period, the 1-10 MW segment is expected to be the most abundant small hydropower market in capacity. This higher proportion of 1-10 MW plants can be attributed to small-scale decentralized projects for rural electrification deployed in developing countries, particularly in Asia.
- Further, the investment costs per kW for small hydropower plants in the 1 – 10 MW range are generally lower than those for plants under 1 MW. The 1 – 10 MW plants also benefit from a higher head and greater installed capacity.
- Developing economies, such as India and China, regions in Southeast Asia and Uzbekistan, and countries in Europe, like the United Kingdom, are giving equal priority to small hydropower projects along with other renewable energy sources.
- According to Digest of UK Energy Statistics (DUKES), From 2013 to 2023, the United Kingdom (UK) saw a consistent rise in electricity generation from small-scale hydro sources. By 2023, the UK harnessed 1,377 gigawatt hours of electricity from its small hydropower facilities. This increase in growth rate is expected to continue during the forecasted period.
- Moreover, the International Renewable Energy Agency's (IRENA) evaluation of several real-world small hydropower projects in developing countries revealed an LCOE range of USD 0.02 to USD 0.10/kWh. This positions small hydro as a highly cost-competitive choice for grid electricity supply and off-grid rural electrification initiatives. Many developing countries witnessed significant developments in small hydropower projects in such a scenario.
- For instance, in April 20242, Kenya Electricity Generating Company (KenGen), the state power producer of Kenya, called for expressions of interest from qualified consultants. The focus is on conducting pre-feasibility studies for the development of new small hydropower plants and assessing the potential rehabilitation and redevelopment of existing ones.
- Therefore, based on the abovementioned factors, the 1-10 MW capacity segment will dominate the small global hydropower market during the forecast period.
Asia-Pacific Expected to Dominate the Market
- The Asia-Pacific region has dominated the small hydropower (SHP) market in recent years and will likely maintain its dominance during the forecast period. As of 2023, Asia-Pacific continues to have the largest installed capacity and potential for small hydropower up to 10 MW.
- Major countries such as India and China are giving equal priority to small hydropower projects along with other renewable energy sources. For instance, in 2016, the Indian Institute of Technology, Roorkee, conducted an assessment of the potential for Small Hydropower. According to their findings, Small Hydropower has an estimated potential of 21,133 MW, spread across 7,133 identified sites. This assessment encompasses Run-of-River, Canal-based, and Dam-toe projects.
- As of March 2024, the total installed capacity for small-hydro power (SHP) in India reached 5,003.25 MW, as reported by the Central Electricity Authority (CEA). In the fiscal year 2023-24, SHP plants generated 9,485.04 million units (MUs).
- Furthermore, Vietnam published Power Development Plan 8 (PDP8) in 2021, which targets a share of 75% for renewable energy by 2045. The total capacity of small hydropower sources is targeted to reach 4,800 MW in 2025, 5,000 MW in 2030, and nearly 6,000 MW by 2045. The government plans to invest USD 13 billion in the power sector, and hydropower would account for 17.7% -19.5% of the total installed capacity.
- Further, the region witnessed significant developments in small-scale hydro projects. For instance, in January 2024, the government of Meghalaya signed a Memorandum of Understanding (MOU) with ONGC Tripura Power Company Ltd (OTPC), marking a strategic initiative to tap into the state's vast hydropower potential. The MOU sets ambitious goals, including establishing a Pump Storage Hydro Power Project, various large and small-scale hydroelectric power ventures, and innovative solutions like floating solar projects.
- Therefore, based on the abovementioned factors, Asia-Pacific is expected to dominate the global small hydropower market during the forecast period.
Small Hydropower Industry Overview
The global small hydropower market is fragmented. Some major players (in no particular order) include Andritz AG, Voith GmbH & Co. KGaA, Siemens Energy AG, GE Renewable Energy, and Gilbert Gilkes & Gordon Ltd., among others.
Small Hydropower Market Leaders
-
Andritz AG
-
Voith GmbH & Co. KGaA
-
Siemens Energy AG
-
GE Renewable Energy
-
Gilbert Gilkes & Gordon Ltd.
*Disclaimer: Major Players sorted in no particular order
Small Hydropower Market News
- April 2023: Shizen Energy Inc. (Shizen Energy) has partnered with GUGLER Water Turbines GmbH (GUGLER), an Austrian firm specializing in the development, design, and manufacturing of water turbines for small to medium-sized hydroelectric power plants. Together, they've installed a 2.2 MW Pelton turbine, accompanied by a synchronous generator, at the Kuroda Hydroelectric Power Plant in Toyota City, Aichi Prefecture. This facility is owned by Chubu Electric Power Co., Inc. (Chubu Electric Power). The newly installed turbine commenced full-scale operations in April 2023, marking it as GUGLER's inaugural megawatt-class turbine to be operational in Japan.
- January 2023: In West Garo Hills district, the Chief Minister of Meghalaya inaugurated one of the three units of the 22.5 MW Ganol Hydro Power Project, contributing an additional 7.5 MW to the state's power grid. The project, valued at approximately USD 67 million, was realized as part of the current government's vision to prominently position Garo Hills on the nation's power map.
Small Hydropower Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Installed Capacity and Forecast, till 2029
- 4.3 Small Hydropower Installed Capacity Share, by Major Region, 2023
- 4.4 Small Hydropower Projects in Pipeline and Upcoming
- 4.5 Recent Trends and Developments
- 4.6 Government Policies and Regulations
-
4.7 Market Dynamics
- 4.7.1 Drivers
- 4.7.1.1 Surge in Demand for Clean and Sustainable Power
- 4.7.2 Restraints
- 4.7.2.1 Unstable Energy Supply
- 4.8 Supply Chain Analysis
-
4.9 Porter's Five Forces Analysis
- 4.9.1 Bargaining Power of Suppliers
- 4.9.2 Bargaining Power of Consumers
- 4.9.3 Threat of New Entrants
- 4.9.4 Threat of Substitute Products and Services
- 4.9.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 Capacity
- 5.1.1 Up to 1 MW
- 5.1.2 1-10 MW
-
5.2 Application
- 5.2.1 Power Infrastructure
- 5.2.2 Civil Works
- 5.2.3 Other Applications
-
5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Nordic
- 5.3.2.7 Turkey
- 5.3.2.8 Russia
- 5.3.2.9 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Malaysia
- 5.3.3.6 Thailand
- 5.3.3.7 Vietnam
- 5.3.3.8 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 Saudi Arabia
- 5.3.4.2 United Arab Emirates
- 5.3.4.3 Nigeria
- 5.3.4.4 Egypt
- 5.3.4.5 South Africa
- 5.3.4.6 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Colombia
- 5.3.5.4 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
-
6.3 Company Profiles
- 6.3.1 Voith GmbH & Co. KGaA
- 6.3.2 Andritz AG
- 6.3.3 GE Renewable Energy
- 6.3.4 Siemens Energy AG
- 6.3.5 Gilbert Gilkes & Gordon Ltd.
- 6.3.6 Toshiba Energy Systems & Solutions Corporation
- 6.3.7 PJSC RusHydro
- 6.3.8 FLOVEL Energy Private Limited
- 6.3.9 Natel Energy, Inc.
- 6.3.10 Kolektor Group
- *List Not Exhaustive
- 6.4 List of Other Prominent Players
- 6.5 Market Ranking Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Integrating IoT with Hydropower and the Positive Outlook toward Small Hydropower Dams
Small Hydropower Industry Segmentation
Small hydropower refers to hydroelectric power plants with an installed capacity of less than 10MW. These plants generate electrical energy by harnessing the gravitational force of falling or flowing water to drive turbines and generators. Water, primarily through the natural processes of evaporation, wind, and rain, returns to its original height, underscoring its renewable nature. Small-scale hydropower can effectively electrify isolated sites and bolster national electricity production during peak demand.
The small hydropower market is segmented by capacity, application, and geography. By capacity, the market is segmented into up to 1 MW and 1-10 MW. By application, the market is segmented into power infrastructure, civil works, and other applications. The report also covers the market size and forecasts for the small hydropower market across major regions. For each segment, the market sizing and forecasts have been done based on installed capacity.
| Capacity | Up to 1 MW | |
| 1-10 MW | ||
| Application | Power Infrastructure | |
| Civil Works | ||
| Other Applications | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Nordic | ||
| Turkey | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | Saudi Arabia |
| United Arab Emirates | ||
| Nigeria | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America |
Small Hydropower Market Research FAQs
How big is the Small Hydropower Market?
The Small Hydropower Market size is expected to reach 90.39 gigawatt in 2024 and grow at a CAGR of 3.48% to reach 107.12 gigawatt by 2029.
What is the current Small Hydropower Market size?
In 2024, the Small Hydropower Market size is expected to reach 90.39 gigawatt.
Who are the key players in Small Hydropower Market?
Andritz AG, Voith GmbH & Co. KGaA, Siemens Energy AG, GE Renewable Energy and Gilbert Gilkes & Gordon Ltd. are the major companies operating in the Small Hydropower Market.
Which is the fastest growing region in Small Hydropower Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Small Hydropower Market?
In 2024, the Asia-Pacific accounts for the largest market share in Small Hydropower Market.
What years does this Small Hydropower Market cover, and what was the market size in 2023?
In 2023, the Small Hydropower Market size was estimated at 87.24 gigawatt. The report covers the Small Hydropower Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Small Hydropower Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Small Hydropower Industry Report
Our comprehensive industry analysis on the small hydropower market delves into the intricacies of hydropower plant installation, micro-hydropower systems, and the strategic development of small hydroelectric projects. This report provides a detailed market overview, covering the latest trends in renewable energy and the adoption of small-scale hydropower solutions. It includes market data, such as hydropower potential assessment and market growth projections, offering stakeholders critical insights into market size, industry trends, and regional developments. The report pdf is available for stakeholders looking to explore the dynamics of the small hydropower industry, including industry statistics and market predictions, ensuring informed decision-making.
Our industry research highlights the significant role small hydropower technologies play in expanding global renewable energy capacity. The report covers market leaders, market forecast, and market segmentation, with a special focus on green energy markets and sustainable energy solutions. Stakeholders will benefit from an in-depth industry outlook, understanding the drivers behind hydropower capacity expansion, renewable energy policy developments, and the latest technological advancements in mini hydropower development. The report pdf is an essential resource for industry leaders aiming to capitalize on the growth opportunities within the small hydropower market.
Statistics for the 2024 Small Hydropower market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Small Hydropower analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
