Small Hydropower Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 The Asia Pacific region dominated the 1-10 MW category of the small hydropower market, with India and China accounting for most installations. These countries' increasing investments in rural electrification increase the market for small hydropower.

Developing economies, such as India, and China, regions in Southeast Asia and Uzbekistan, and countries in Europe, like Norway, are giving equal priority to small hydropower projects along with other renewable energy sources.

Additionally, the installed capacity of hydropower increased by 8% between 2017 and 2021. In 2021 the installed capacity was at 1360 GW compared to 1270.8 GW in 2017. Small hydropower holds a considerable share in the before-mentioned installed capacity. This increase in growth rate is expected to continue during the forecasted period.

For small hydropower projects (1-10 MW), the weighted average Levelized cost of energy (LCO for new projects in 2022 ranged between Brazil and China was USD 0.080/kWh, USD 0.120/kWh in Europe USD 0.040/kWh, around North America and. Smaller hydropower ventures (1-10 MW) had the weighted average LCOE for new sites extend between USD 0.130/kWh in Europe, USD 0.040/kWh in China, and 0.060/kWh in India and Brazil.

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The Small Hydropower Market is expected to register a CAGR of 2% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.

Over the medium term, factors like increasing investment in the small hydropower market and increasing demand for electricity are expected to drive the market.

On the other hand, an unstable energy supply significantly hinders the market growth. 


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