U.S. Small Hydropower Industry Overview
The U.S. small hydropower market size was valued at USD 307.96 million in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 1.8% from 2021 to 2028.
Increasing demand for renewable energy in the U.S. is expected to drive the market over the forecast period. The rising need to modernize small hydropower projects to promote power generation and extend the life of assets to cope with the ever-increasing demand for electricity is anticipated to fuel the market growth. Increasing greenhouse emissions due to the growing power consumption have prompted the United Nations Industrial Development Organization (UNIDO) and Federal Energy Regulatory Commission (FERC) to adopt certain renewable energy measures.
Gather more insights about the market drivers, restrains and growth of the U.S. Small Hydropower Market
Furthermore, policies by the Federal Energy Regulatory Commission to encourage renewable sources of energy, coupled with the need to deliver energy in rural locations, are some favorable factors that are likely to lead to the growth of the market. Increasing concerns regarding climate change coupled with the dependency of the U.S. on foreign oil have emerged as the key drivers for the industry. The use of conventional sources of energy, such as various fossil fuels, is a major cause of the rising emission of Greenhouse Gases (GHG), which are believed to be a key contributor to global warming.
Small Hydropower (SHP) generation plants use moving water to produce electricity. These plants are mainly installed on the existing water supply networks or small streams and rivers. Small hydropower plants can be operated with negligible impact on the environment. Supportive regulatory framework for supportable energy in the United States is likely to have a positive influence on market demand. Execution of favorable government regulations, such as the Hydropower Regulatory Efficiency Act and Rural Jobs in the United States, along with an increasing number of funding programs related to the renewable energy sector are some of the factors, which are projected to present future growth prospects.
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U.S. Small Hydropower Market Segmentation
Grand View Research has segmented the U.S. small hydropower market on the basis of capacity, type, and component:
U.S. Small Hydropower Capacity Outlook (Revenue, USD Million, 2017 - 2028)
- UP to 1 MW
- 1 MW - 10 MW
U.S. Small Hydropower Type Outlook (Revenue, USD Million, 2017 - 2028)
- Mini
- Micro
U.S. Small Hydropower Component Outlook (Revenue, USD Million, 2017 - 2028)
- Civil Construction
- Electromechanical Equipment
- Power Infrastructure
- Others
Key Companies profiled:
Some of the prominent players in the U.S. small hydropower market include:
- ANDRITZ
- Canyon Hydro
- General Electric
- Gilkes
- Mavel, a.s.
- Natel Energy
- Siemens Energy
- SNC-Lavalin Group
- Voith GmbH Co. KGaA
- Wärtsilä
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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