Market Size of United States Hydropower Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Hydropower Market Analysis
The United States Hydropower Market is expected to grow at a CAGR of more than 0.5% during the forecast period of 2022-2027. The COVID-19 pandemic negatively affected the market by causing disruption in the construction activities and in the amount of electricity generated since the demand slipped due to the pandemic. In terms of the growth market, increasing adoption of clean sources of energy along with the presence of abundant hydro resources are likely to drive the market. However, the rapid adoption of alternative renewable energy sources such as solar, and wind energy may restrain the market.
- Large Hydropower is likely to witness significant growth during the forecast period.
- The United States aims to achieve 33-50 % of electricity production through renewables by 2030. This target coupled with the presence of significant water resources is likely to present opportunities to players involved in the market in the future.
- Alternative renewable energy sources such as solar energy, and wind energy due to their significantly less cost and less difficulty of installation and operation are likely to restrain the market.
