Small Hydropower Market To Grow Substantially At A CAGR Of 2.8% During 2022 To 2030
Small Hydropower Industry Overview The global small hydropower market size was valued at USD 2.07 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.8% from 2022 to 2030. Strong growth in the use of renewable sources for energy production is likely to propel market growth over the coming years. Growing investments in smart “energy-saving” across various end-uses are expected to provide an impetus to the adoption of small hydropower energy for electricity generation. In addition, an increase in greenhouse gas emissions due to growing power consumption has fueled the United Nations Industrial Development Organization (UNIDO) and Federal Energy Regulatory Commission (FERC) to adopt certain renewable energy measures. Policies by the Federal Energy Regulatory Commission in order to encourage renewable sources of energy, coupled with the need to deliver energy in rural locations, are expected to foster market growth. Gather more insight...