The global small hydropower market is expected to grow from an estimated size of USD 2.6 billion in 2019 to USD 3.0 billion by 2024, at a CAGR of 2.4% during the forecast period. The factors driving the market include the application of small hydropower projects for rural electrification, financial incentives, and policy initiatives, and investments in hydropower projects in response to climate change.
Both global and regional players dominate the global small hydropower market. The leading players in global small hydropower market, such as Voith (Germany), ANDRITZ (Austria), GE Renewable Energy (France), Toshiba (Japan), Siemens (Germany), BHEL (India), Gilbert Gilkes & Gordon (UK), and Flovel (India).
The major strategies adopted by the players include contracts & agreements, investments & expansions, mergers & acquisitions, and new product launches. Contracts & Agreements were the most commonly utilized strategy from January 2017 to October 2019.
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Voith (Germany) is a technology leader offering products and solutions to the energy, oil & gas, paper, and transport & automotive sectors. It is one of the leading companies offering products & solutions to hydropower plants for well over 140 years. Voith conducts its business through four divisions—Hydro, Paper, Turbo, and Digital Ventures. Voith hydro division offers end-to-end solutions for small hydropower plants. The company is a leading supplier of products and services for all hydropower plants: large, small, and pumped storage plants. Its portfolio of products includes turbines, generators, pumps, electrical and mechanical power plant equipment, and automation systems such as measuring, control, and command systems. Hydro division accounts for about 26.3% of the company’s revenues. The company is strategically focused on growing organically by expanding into new territories and launching new products. The company has recently opened subsidiaries in East Africa and Australia to aid further growth in these regions. In June 2019, the company opened a new production facility in Russia to manufacture and supply products for large and small hydropower markets. The company is focusing on inorganic growth strategies, as well. For instance, in October 2018, the company started collaborating with the Siemens Energy Management division to promote hydropower solutions as part of hybrid power concepts. The company also won several contracts to supply products for small hydropower projects in various countries such as Macedonia, Burundi, and Kenya.
ANDRITZ (Austria) is a global technology group providing products and solutions to a wide range of industries such as pulp & paper, metals, energy, and processing industries. The company is one of the leading players in the hydropower, pulp & paper, metal, and solid/liquid separation markets. ANDRITZ conducts its business through 4 four major business segments, namely, pulp & paper, metals, hydro, and separation. The company’s hydro division offers electromechanical equipment for hydropower plants, along with pumps, and turbo generators. ANDRITZ Hydro caters to the small hydropower market through its compact hydro division. For small and mini-hydropower projects, ANDRITZ offers compact hydropower solutions, wherein the company provides all the necessary electromechanical products, along with electrical and mechanical balance of plant in one small package.
Small Hydropower Market by Capacity (Up to 1 MW, 1–10 MW), Type (Micro Hydropower, Mini Hydropower), Components (Electromechanical Equipment, Electric infrastructure, Civil Works), and Region - Global Forecast to 2024
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