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United States hydropower market: 3% CAGR growth forecast between 2013-2020

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Analyzing the Hydropower Industry in the US - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-23 11:47:01
The US is one of the major markets progressing in the hydropower sector, globally. With large-scale installations planned or under-construction, the market value of the country´s hydropower sector is expected to grow at the rate of 3% by the year 2020. The increasing cost of installations will also continue to drive the hydropower market´s growth in the coming years.

Although hydroelectricity is a renewable energy source and perceived as environmentally friendly, establishing a new hydroelectric facility has been difficult for industry players because of stringent state and federal regulations and a lack of suitable locations. Furthermore, the recession caused financing for large projects to dry up and, in turn, made it hard for industry firms to break ground.

Industry players have remained busy, though. Plans for upgrades are already in the works, and industry players are seeking to upgrade facilities as electricity demand climbs and the water keeps flowing. Prospective entrants to the Hydroelectric Power industry must have large amounts of capital and considerable expertise to enter the industry.

US Army Corps of Engineers, New York Power Authority and PG&E Corporation are the top players in the industry. The US Army Corps of Engineers is the major hydropower owner in the country.

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