Market Size of United States Hydropower Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Hydropower Market Analysis
The United States Hydropower Market is expected to grow at a CAGR of more than 0.5% during the forecast period of 2022-2027. The COVID-19 pandemic negatively affected the market by causing disruption in the construction activities and in the amount of electricity generated since the demand slipped due to the pandemic. In terms of the growth market, increasing adoption of clean sources of energy along with the presence of abundant hydro resources are likely to drive the market. However, the rapid adoption of alternative renewable energy sources such as solar, and wind energy may restrain the market.
- Large Hydropower is likely to witness significant growth during the forecast period.
- The United States aims to achieve 33-50 % of electricity production through renewables by 2030. This target coupled with the presence of significant water resources is likely to present opportunities to players involved in the market in the future.
- Alternative renewable energy sources such as solar energy, and wind energy due to their significantly less cost and less difficulty of installation and operation are likely to restrain the market.
US Hydropower Industry Segmentation
The United States Hydropower Market includes:
United States Hydropower Market Size Summary
The United States hydropower market is poised for growth, driven by the increasing adoption of clean energy sources and the availability of abundant hydro resources. Despite the challenges posed by the COVID-19 pandemic, which disrupted construction activities and reduced electricity demand, the market is expected to expand. Large-scale hydropower, in particular, is anticipated to experience significant growth due to its reliability in meeting peak electricity demands and the country's ambitious renewable energy targets. The presence of substantial water resources and government support, including funding for research and development, further bolsters the market's potential. However, the rapid adoption of alternative renewable energy sources such as solar and wind energy, which offer lower costs and easier installation, may pose challenges to hydropower's growth.
The market landscape is moderately consolidated, with key players like GE Renewable Energy, Siemens Energy AG, and Duke Energy Corporation actively participating. The development of new pumped storage projects and ongoing construction of facilities like the Gordon Butte Pumped Storage Hydro Power plant are expected to contribute to market expansion. However, the high upfront capital costs and the need for long-term financing remain significant obstacles to further deployment. As solar and wind energy continue to gain traction, supported by declining costs and government policies, they are likely to restrain the growth of the hydropower market in the United States during the forecast period.
United States Hydropower Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Installed Capacity and Forecast in GW, till 2028
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1.3 Hydropower Installed Capacity Share, 2022
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1.4 Hydroelectric Generation in TWh, till 2028
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1.5 Recent Trends and Developments
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1.6 Government Policies and Regulations
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.2 Restraints
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1.8 PESTLE Analysis
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2. MARKET SEGMENTATION-BY SIZE
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2.1 Large Hydropower (Greater than 100 MW)
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2.2 Small Hydropower (Smaller than 10 MW)
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2.3 Other Sizes (10-100 MW)
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United States Hydropower Market Size FAQs
What is the current United States Hydropower Market size?
The United States Hydropower Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in United States Hydropower Market?
GE Renewable Energy, Andritz AG, Siemens Energy AG, Voith Gmb & Co. KGaA and Duke Energy Corporation are the major companies operating in the United States Hydropower Market.
