Hydropower Market 2030: Building the Future of Clean Energy
The global hydropower market size is anticipated to reach USD 280.20 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 1.5% from 2025 to 2030. Cost advantages of hydropower based electricity generation and the substitution of fossil fuel based power production in an attempt to reduce carbon emission is expected to drive market demand. According to the estimates of the International Energy Agency (IEA), the deployment of sustainable hydropower as proposed by this organization will help avoid approximately one billion tones of annual carbon dioxide emission by 2050. Rapid rise in demand for renewable energy especially in China, India and Brazil and the construction of key hydropower projects including the installation of 32 turbines and the completion of the third phase of the Three Gorges Dam in China in 2012, will fuel the future growth of this market. Supportive regulatory framework for sustainable en...