Global hydropower market to reach $86-billion



 

The global hydropower market is set to increase from $70,9-billion in 2017 to $86,2-billion by 2025, representing a compound annual growth rate of 2,5%, according to research and consulting firm GlobalData. Policy support and environmental concerns for clean energy generation are important factors driving the global hydropower market. The recently adopted UN Sustainable Development Goals, for example, which supersede the millennium development goals, include a special goal related to energy which encourages the share of renewable energy by 2030. Global power demand is also pushing the market forward, and is expected to increase from around 21,7-million GWh in 2017 to over 27-million GWh by 2025. Meeting this demand will require an increase in the pace of capacity additions in order to fulfil peak demand requirements, meet emission control, and provide the affordable power. Although electricity demand varies from country to country, they are generally focused on building baseload plants.

Contact Global Data, pr@globaldata.com

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