2012-09-27 11:49:36 -
Global hydropower market dominated by China for the seventh consecutive year
Thanks to support from various government incentives, the global hydropower market has been forecast to increase at a compound annual growth rate (CAGR) of 3.4% over the next decade, to reach a capacity of 1.443 GW by 2020.In 2010 the hydropower market added nearly 38.7 Gigawatts (GW), resulting in a year-on-year growth of 3.8%. By the end of that year the global hydropower market accounted for 76.5% of global renewable power installed capacity.Hydropower is the most commonly used renewable resource for power generation in the world, and is a long established method of generating electricity, especially in developed western countries. The industry is being fuelled by enormous support from various governments around the world in favour of hydropower generation, in
the form of favourable policies and incentives.Furthermore, the growing need to generate sustainable electricity and reduce carbon emissions will see hydropower remain a priority resource for generating power.In 2010, the top hydropower countries in the world accounted for 62% of global installed capacity. China is the market leader in the global hydropower market, representing nearly 21% of global installed capacity. The country is followed by the US and Brazil, which represent 10% and 8% respectively.China´s dominance as the world´s largest hydropower market has been seen for the past seven with installed capacity reaching 230 GW in 2011, 2.7 times more than in 2002.Looking ahead, as hydropower is such a heavily underutilised resource in the developing nations it will therefore provide considerable growth opportunities, as demand for electricity increases to fuel the growth in industrialisation.For more information on the global hydropower market, see the latest research: Global Hydropower MarketFollow us on Twitter @CandMResearch
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