- Market participants are concentrating on raising manufacturing of electro-mechanical systems for hydroelectric plants to broaden their revenue sources
- As price of fossil fuels and worries about carbon emissions rise, the demand for small hydropower plants with above 10 MW is estimated to climb in the near future
WILMINGTON, Del., Oct. 5, 2022 /PRNewswire/ — Transparency Market Research Inc. – In 2021, the value of global small hydropower market stood at US$ 208.8 Bn. The global market is anticipated to progress at 2.69% CAGR during the forecast period, from 2022 to 2031. By 2031, the global small hydropower market is projected to reach US$ 273.8 Bn. The global small hydropower market is being driven by the rising demand for sustainable energy and climbing pollution levels. Power is produced by hydropower without the release of hazardous waste. In addition to maintaining cleaner water and air this environmentally beneficial energy source also helps minimize carbon emissions, which is likely to present lucrative opportunities for the leading players in small hydropower market.
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In response to increasing concerns, governments and businesses all over the world are spending considerably in the research and development of small hydropower projects. The need for energy is rising since industrialization and urbanization are occurring rapidly, which is anticipated to drive…
