Hydropower generation is a world’s largest power stations that harness the energy of moving water to produce electricity. They use dams to create a pool of water above the structure, then one or more pipes give it a path to surge downhill—and, in the process, spin a turbine that runs a generator and sends clean electricity to your home. Although hydropower is a renewable, non-carbon-producing source of electricity, climate change threatens to reduce the availability of some of the water that power stations require for their operation. As a result, it’s crucial to find ways to balance two environmental concerns: the need for clean energy and the need to protect natural habitats from human development.
Market Dynamics:
The global hydropower generation market is expected to grow at a significant pace over the period. The market is largely driven by the rise in demand for clean energy across the globe due to the rapid industrialization and urbanization. Moreover, the increasing need of cleaner technology for power generation and stringent emission policies are also driving the market. Furthermore, the flexibility of hydropower plants to quickly ramp up and down production, along with their ability to be stooped and restarted smoothly when required, is another factor that is fueling growth of this market.
However, high capital investment required for hydropower is expected to hamper the market growth over the forecast period.
Key features of the study:
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