Market Size of Hydro Generators Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hydro Generators Market Analysis
The hydro generators market is expected to register a CAGR of more than 8% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- The primary factors that drive the market are the growing focus on renewable energy to reduce CO2 emissions and the growing focus on alternative fuels to achieve an imperishable form of energy.
- However, factors such as high CAPEX requirements, especially in the key markets, limited economical sites, and the extra expenditure, that arise to address social and environmental impacts, are expected to hinder the market growth during the forecast period.
- The initiatives to reduce carbon emissions in countries are expected to create opportunities shortly. For instance, Indonesia has developed a strategy for hydropower development to boost its industrial growth and reduce carbon emissions by 29% by 2030.
- The Asia-Pacific region is expected to continue to dominate the hydro generators market, with the highest installed hydropower capacity. China and India are the prominent countries in the region that are dominating the market with majority of the total installed global hydropower capacity.
