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Major Drivers of Small Hydropower Market

The consumption of electricity has been increasing significantly across the globe for the last few years due to rapid industrialization & urbanization and strong economic growth. The increase in demand for electricity and stringent norms & government regulations to minimize carbon emissions from the power sector are compelling companies to introduce highly effective and pollution-free energy generation methods. Small hydropower is a prominent alternative to fossil fuel, as these plants utilize moving water for power generation. Small hydropower is primarily employed in isolated regions. Small hydropower is a suitable option to generate sustainable as well as inexpensive energy in developing and rural areas due to its low investment costs, versatility, and renewable nature. Thus, increase in harnessing of hydropower resources across the globe is expected to drive the global small hydropower market during the forecast period.

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