Connect with us

Hi, what are you looking for?

CleanTechnica
A new report from research and consulting firm GlobalData has forecast that the global hydropower market will increase from $70.9 billion in 2017 to $86.2 billion by 2025.

Clean Power

Global Hydropower Market Is Set To Reach $86.2 Billion By 2025, Says GlobalData

A new report from research and consulting firm GlobalData has forecast that the global hydropower market will increase from $70.9 billion in 2017 to $86.2 billion by 2025.

A new report from research and consulting firm GlobalData has forecast that the global hydropower market will increase from $70.9 billion in 2017 to $86.2 billion by 2025.

The global hydropower market has always been a surprisingly overlooked renewable energy sector, despite being the most traditional form of renewable energy and with a significant install base. This is not to say that everyone has overlooked hydropower, but it has sometimes been dismissed due to its significant infrastructure costs.

According to GlobalData’s newest report, the global hydropower market is likely to benefit from a major boost in investment which will see an increase in the number of installations, especially in countries such as China, Brazil, and India — all of which are countries looking at all avenues to increase their renewable energy capacities.

“Policy support and environmental concerns for clean energy generation are important factors driving the global hydropower market,” said Anchal Agarwal, Power Analyst for GlobalData. “The recently adopted UN Sustainable Development Goals, for example, which supersede the millennium development goals, include a special goal related to energy which encourages the share of renewable energy by 2030.”

In 2015, 33 gigawatts (GW) worth of new hydropower capacity was installed, according to figures provided by the International Hydropower Association (which has yet to publish 2016 numbers).

According to GlobalData, cumulative global hydropower installations reached 1,211.3 GW in 2016, and are expected to reach 1,691 GW by 2025. Large hydropower plants are the major source of new capacity and baseload power, but pumped storage is growing and is helping meet peak power demand. Global hydropower demand is also expected to push the market forward, increasing from 21.7 million GWh in 2017 to over 27 million GWh by 2025.

“In terms of individual countries, China will continue to dominate market share, with installed hydropower capacity set to rise from 341 GW in 2016 to 442 GW by 2020,” Agarwal explained. “In order to achieve its carbon reduction goals, China is quickly exploring low-carbon generation technologies, including nuclear, wind, and solar power. The flexible characteristics of hydropower, including pumped storage, facilitate the increased grid penetration of wind and solar.”


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

Trina Solar is now testing a half-frame solar panel for use with solar trackers with hopes to lower the cost per watt for solar...

Clean Power

With the prospect of 300 new coal projects globally looming in the background, US utilities are racing to add more renewables to their portfolios.

Clean Power

The global wind turbine market is expected to continue to grow over the next few years, according to new figures published by analysts GlobalData,...

Clean Power

With Germany set to phase out its nuclear capacity by 2022, leading analysts GlobalData predicts that non-hydro renewables will almost exclusively fill the remaining...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.