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市場調查報告書
商品編碼
1848404
水力發電市場預測至2032年:按組件、容量、技術、最終用戶和地區分類的全球分析Hydropower Market Forecasts to 2032 - Global Analysis By Component, Capacity, Technology, End User and By Geography |
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根據 Stratistics MRC 的數據,預計 2025 年全球水力發電市場規模將達到 2,797.7 億美元,到 2032 年將達到 4,016 億美元,預測期內複合年成長率為 5.3%。
水力發電利用流動或落水的動能發電,是一種永續的可再生能源解決方案。水力發電是最早的發電方式之一,能夠以最小的環境影響提供可靠的大規模電力。水力發電基礎設施涵蓋小型到大型水壩計劃,其中抽水蓄能系統能夠提高能源穩定性和儲能能力。除了發電之外,水力發電也用於灌溉、防洪和供水。由於其高效能、低營運成本和環境友善等優點,水力發電仍然是全球可再生能源發展的重要組成部分,尤其是在水資源豐富且尋求永續替代能源的地區。
根據國際能源總署(IEA,2021 年水力發電特別市場報告)的數據,到 2020 年,水力發電將佔全球發電量的約 16%,佔可再生能源的 40% 以上,使其成為世界上最大的可再生能源來源。
全球對可再生能源的需求不斷成長
對可再生能源日益成長的需求是水力發電市場的主要驅動力。各國和各組織都在轉向永續能源,以減少碳排放並實現氣候變遷目標。水力發電能夠以最小的環境影響提供可靠的大規模電力,從而支持能源多元化和電網穩定。由於水力發電具有耐久性、運作效率和長期效益等優點,永續能源基礎設施投資通常優先考慮水力發電。此外,各國政府、企業和公眾日益增強的環保意識也推動了水力發電發電工程的擴張,使其成為全球可再生能源目標的關鍵解決方案。
高初始投資
由於計劃開發初期成本高昂,水力發電市場面臨諸多限制因素。建造水壩、渦輪機和基礎設施需要巨額投資,這往往令低度開發地區的投資者望而卻步。漫長的建設週期和精細的規劃增加了初期成本,即使營運成本低,也難以證明其財務可行性。經濟不穩定、利率波動和預算有限進一步阻礙了計劃的實施。儘管水力發電具有長期高效和永續性的優勢,但這些財務挑戰限制了新發電工程的啟動,並減緩了市場成長。高額的資本需求仍是限制全球水力發電設施廣泛擴張的主要因素。
政府獎勵和可再生政策
政府的支持性政策和獎勵為水力發電產業提供了廣闊的發展前景。稅額扣抵、補貼和低利率資金籌措鼓勵新計畫,而可再生能源目標則進一步強化了政策支持。簡化的法律規範和加快的核准流程減少了計劃延誤,並吸引了國內外投資者。公私合作提高了計劃的可行性,全球氣候變遷基金也提供了額外的資金支持。透過將水電納入國家能源戰略和碳減排計劃,各國政府創造了有利於投資的環境。持續的政策支持確保了市場的穩定和長期成長,使水力發電成為全球清潔能源轉型的重要力量。
氣候變遷與水資源變異
水力發電極易受氣候變遷的影響,氣候變遷威脅著供水和河流流量的穩定性。降雨不規則、長期乾旱和極端天氣都會降低發電量並擾亂營運。季節性水量波動使穩定發電更具挑戰性,並降低了部分地區的可靠性。不可預測的水資源供應也會增加維護和營業成本。氣候不確定性的增加會抑制對大型發電工程的投資,進而影響市場穩定性。這降低了收入波動性和投資者信心,凸顯了水力發電基礎設施對氣候變遷導致的水資源供應變化的脆弱性,並強調了製定適應性策略以確保市場長期韌性的必要性。
新冠疫情對水力發電市場造成了嚴重衝擊,影響了建設進度、供應鏈和計劃竣工時間。停工、勞動力短缺和運輸問題導致營運延誤和成本上升。財政壓力和政府收入下降減緩了新計畫的核准和投資活動。工商業電力消耗的減少也暫時抑制了水力發電量。儘管如此,由於水力發電產業對可再生能源供應的重大貢獻,該產業仍保持了韌性。如今,隨著新的政府舉措、獎勵策略和清潔能源基礎設施投資推動復甦,水力發電有望重拾發展勢頭,並繼續在全球永續能源生產中發揮重要作用。
預計在預測期內,渦輪機細分市場將成為最大的細分市場。
由於渦輪機具有將流動水轉化為機械能以發電的關鍵功能,預計在預測期內,渦輪機將佔據最大的市場佔有率。水力發電廠的性能、效率和可靠性高度依賴渦輪機技術。弗朗西斯渦輪機、卡普蘭渦輪機和佩爾頓渦輪機等先進設計使其能夠在各種水流量和容量條件下實現最佳運行。持續的技術創新和對渦輪機效率的投資提高了能源產量,同時降低了營運成本。這項關鍵零件正在推動全球水力發電基礎設施的效率提升和規模擴張。渦輪機佔據領先市場佔有率,凸顯了渦輪機作為永續能源生產驅動力和支持水力發電產業發展的核心地位。
預計在預測期內,微型水力發電(100千瓦-1兆瓦)的複合年成長率將最高。
預計在預測期內,微型水力發電(100千瓦-1兆瓦)領域將呈現最高的成長率。其靈活性以及對農村和無電地區的適用性使其極具吸引力。與大型計劃相比,微型水力發電的初始投資較低,開發週期較短,因此可以快速部署。這些系統為電力供應不足的社區提供可靠的電力,並促進永續發展。小型渦輪機和模組化設計的進步正在提高性能和降低成本。政府的支持性政策、資助計畫和可再生能源措施正在推動其普及和快速擴張。因此,小型水力正成為全球水力發電成長和分散式可再生能源部署的重要貢獻者。
在預測期內,亞太地區預計將佔據最大的市場佔有率,這主要得益於其豐富的水資源、政府的扶持政策以及不斷成長的能源需求。中國在全球水力發電裝置容量中佔有重要佔有率,是主要貢獻者之一。印度和巴西等國在水力發電開發方面也取得了顯著進展。亞太地區高度重視可再生能源,正在對大型和小型發電工程進行大量投資。技術進步和有利的政策持續推動著該行業的擴張。因此,預計亞太地區將在未來幾年繼續保持其在水力發電市場的領先地位。
預計亞太地區在預測期內將呈現最高的複合年成長率,這主要得益於對可再生能源的強勁投資和政府的積極舉措。中國和印度處於領先地位,其中中國佔據全球水力發電裝置容量的大部分。該地區的永續能源舉措以及各類發電工程的開發正在推動市場成長。技術進步和對環保能源解決方案日益成長的需求進一步推動了該行業的發展,使亞太地區成為全球水力發電行業的主導力量。
According to Stratistics MRC, the Global Hydropower Market is accounted for $279.77 billion in 2025 and is expected to reach $401.60 billion by 2032 growing at a CAGR of 5.3% during the forecast period. Hydropower utilizes the kinetic energy of moving or falling water to produce electricity, serving as a sustainable and renewable energy solution. Recognized as one of the earliest methods of generating power, it offers reliable, large-scale electricity with minimal environmental impact. Hydropower infrastructure ranges from small-scale installations to extensive dam projects, enhancing energy stability and storage via pumped systems. Beyond electricity, it aids in irrigation, flood management, and water provision. Due to its high efficiency, low operating expenses, and eco-friendly nature, hydropower remains an essential element in global renewable energy development, particularly in water-rich regions seeking sustainable energy alternatives.
According to the International Energy Agency (IEA, 2021 Hydropower Special Market Report), Data shows that hydropower accounted for nearly 16% of global electricity generation and over 40% of renewable electricity in 2020, making it the largest source of renewable power worldwide.
Rising global demand for renewable energy
Increasing demand for renewable energy is significantly propelling the hydropower market. Nations and organizations are shifting toward sustainable power sources to lower carbon emissions and comply with climate objectives. Hydropower delivers reliable, large-scale electricity with minimal environmental impact, supporting energy diversification and grid stability. Investments in sustainable energy infrastructures often prioritize hydropower due to its durability, operational efficiency, and long-term benefits. Additionally, heightened environmental consciousness among governments, industries, and the public is encouraging the expansion of hydropower projects, positioning them as a key solution in achieving global renewable energy targets.
High initial investment
The hydropower market faces significant limitations due to the high initial costs associated with project development. Building dams, turbines, and infrastructure requires massive investments, often discouraging investors in less developed areas. Extended construction periods and detailed planning amplify upfront expenses, making financial justification difficult despite low operational costs. Economic instability, interest rate variations, and limited budgets further hinder project implementation. These financial challenges restrict the initiation of new hydropower projects, slowing market growth, even though hydropower offers long-term efficiency and sustainability benefits. The need for substantial capital remains a primary constraint on the widespread expansion of hydropower facilities worldwide.
Government incentives and renewable policies
Supportive government policies and incentives provide promising opportunities in the hydropower sector. Tax credits, subsidies, and affordable financing encourage the initiation of new projects, while renewable energy targets reinforce policy backing. Simplified regulatory frameworks and expedited approval processes reduce project delays, attracting local and international investors. Collaborations between public and private sectors improve project feasibility, and global climate funds offer additional financial support. By integrating hydropower into national energy strategies and carbon reduction plans, governments establish a conductive environment for investment. Ongoing policy support ensures stability and long-term market growth, positioning hydropower as a key player in the worldwide transition toward clean energy.
Climate change and water variability
Hydropower is highly susceptible to climate change, which threatens water supply and river flow consistency. Irregular rainfall, extended droughts, and severe weather events can lower electricity output and disrupt operations. Seasonal water fluctuations further challenge steady power production, reducing reliability in some areas. Unpredictable water availability may also increase maintenance and operational costs. Growing climate uncertainties can discourage investment in large hydropower projects, affecting market stability. This creates risks of revenue variability and diminished investor confidence, underlining the vulnerability of hydropower infrastructure to climate-driven changes in water availability and emphasizing the need for adaptive strategies to ensure long-term market resilience.
The hydropower market faced notable disruptions due to the COVID-19 pandemic, impacting construction schedules, supply chains, and project completion timelines. Lockdowns, workforce limitations, and transportation challenges delayed operations and increased costs. Financial pressures and lower government revenues slowed new project approvals and investment activity. Reduced industrial and commercial electricity consumption also temporarily lowered hydropower generation. Nevertheless, the sector remained resilient owing to its critical contribution to renewable energy supply. Recovery efforts are now driven by renewed government initiatives, stimulus measures, and investments in clean energy infrastructure, positioning hydropower to regain momentum and continue its role in sustainable electricity generation worldwide.
The turbines segment is expected to be the largest during the forecast period
The turbines segment is expected to account for the largest market share during the forecast period due to their essential function of converting flowing water into mechanical energy for electricity generation. The performance, efficiency, and reliability of hydropower plants heavily depend on turbine technology. Advanced designs, including Francis, Kaplan, and Pelton turbines, enable optimal operation under diverse water flow and capacity conditions. Continuous innovation and investment in turbine efficiency enhance energy production while lowering operational expenses. This critical component drives the effectiveness and expansion of hydropower infrastructure worldwide. The leading market share of turbines highlights their central importance in powering sustainable energy generation and supporting the growth of the hydropower sector.
The micro hydropower (100 kW - 1 MW) segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the micro hydropower (100 kW - 1 MW) segment is predicted to witness the highest growth rate. Its flexibility and suitability for rural and off-grid areas make it highly attractive. Lower initial investment and shorter development periods compared to large-scale projects enable quicker implementation. These systems provide consistent electricity to underserved communities, fostering sustainable development. Advances in small-scale turbines and modular designs improve performance and affordability. Supportive government policies, funding programs, and renewable energy initiatives are encouraging adoption, fueling rapid expansion. As a result, micro hydropower is emerging as a key contributor to global hydropower growth and decentralized renewable energy deployment.
During the forecast period, the Asia Pacific region is expected to hold the largest market share, owing to its vast water resources, supportive government policies, and rising energy needs. China stands out as a major contributor, holding a substantial share of the world's hydropower capacity. Countries like India and Brazil are also making significant strides in hydropower development. The region's focus on renewable energy has led to considerable investments in various hydropower projects, both large and small. Advancements in technology and favorable policies continue to drive the sector's expansion. Consequently, Asia Pacific is projected to retain its leadership in the hydropower market in the coming years.
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR, fueled by robust investments in renewable energy and favorable government initiatives. China and India are at the forefront, with China holding a significant portion of the world's hydropower capacity. The region's commitment to sustainable energy, along with the development of various hydropower projects, accelerates its market growth. Advancements in technology and a rising demand for eco-friendly energy solutions further enhance the sector's development, establishing Asia Pacific as a dominant force in the global hydropower industry.
Key players in the market
Some of the key players in Hydropower Market include Voith Group, Andritz Hydro, General Electric, China Three Gorges Corporation, Alfa Laval, Hydro-Quebec, ABB, Engie, Tata Power, Siemens Energy, Statkraft Sweden, Norsk Hydro ASA, Hitachi Mitsubishi Hydro Corporation, Renewable Japan Co., Ltd. and J-POWER Group.
In August 2025, GE Vernova Inc. will invest C$22.2 million in its Quebec operations, expanding hydropower and grid equipment production to support rising energy demand in Quebec and across Canada. The company will put C$16.2 million into its hydropower manufacturing site in Sorel-Tracy and more than C$6 million into its La Prairie facility, which produces high-voltage grid equipment.
In July 2025, Andritz has secured a contract for the refurbishment of Mozambique's principal hydropower facility, Cahora Bassa, operated by Hidroelectrica de Cahora Bassa (HCB). The project will boost the plant's efficiency and increase its generating capacity by more than 4%.
In June 2025, Voith and HeiTech Padu Berhad (HeiTech), a technology company located in Malaysia, has been awarded the contract to modernize three hydropower stations operated by TNB Power Generation Sdn. Bhd. (TNB Genco) a subsidiary of Tenaga Nasional Berhad (TNB) as part of the Life Extension Program (LEP).
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.