The “Global Hydropower Plant Construction Market 2015-2019” has been released.
There is an increasing demand for small hydropower plants because of the simple design, easy construction, and low costs involved. For instance, in 2015, five small hydropower projects were announced in Arunachal Pradesh, India.
According to the report, according to the United Nations, the world population will reach 8.7 billion by 2035. Population growth and increase in standards of living in developing countries will lead to increase in electricity demand. According to the International Atomic Energy Agency, the global demand for electricity is expected to double between 2002 and 2030, and around 4,259 TWh of electricity will be generated through hydropower plants.
The analysts forecast the global hydropower plant construction market to grow at a CAGR of 6.49% over the period 2014-2019.