Microhydro-Electric Systems Market Technological Advancements, Growth Opportunity and Forecast 2018-2026
Microhydro-electric
systems are referred to units or plants, which are installed with the power
generation capability of less than or equal to 100 kW. The installation of
plant mainly include the units that are deployed on streams, water pipeline
systems, and irrigation canals. Microhydro-electric systems find considerable
applications to cater the needs of the small business and domestic and
agricultural requirements. These installations are generally privately owned
and the power generated is either utilized on-site or sold to the utility
distribution company.
Increasing
emphasis for the exploitation of green energy sources is anticipated to
leverage the demand for utilization of the available water sources
High
global dependency on the fossil fuels is expected to decline due to limited
availability of resources and the associated impact of fossil fuels on
environment over the forecast period. According to Coherent Market Insights
analysis report, around 60 countries utilize the available water resources to
meet more than 50% of the overall electrical energy requirements. Micro-hydro power
generation has gained considerable momentum, owing to its increased social as
well as financial benefits over the large hydro power stations. Short gestation
period, high return on investment (ROI), low capital investments, easy
commissioning, and construction are some of the factors augmenting the market
growth. Moreover, factors such as the impact on local habitat, effect on
rehabilitation, deforestation, and other associated issues owing to submergence
of the large areas can be eliminated with the introduction of
microhydro-electric systems.
Administrative
bottlenecks and low adoption rates are expected to hamper the industrial growth
over the forecast period
Requirement
to fulfil the long and complicated procedural hurdles to obtain the
authorization, permits, and approvals in almost every nations is expected to be
the major factor hindering the market growth. Furthermore, adoption of the
methodology for power generation is still in its nascent stage with most of the
potential still left untapped. For instance, over 95% of around 79,000 dams in
the U.S., are not utilized for the generation of electricity.
Elaborate more @ https://www.coherentmarketinsights.com/ongoing-insight/microhydro-electric-systems-market-1240
Europe
dominated the global microhydro-electric systems market is expected to present
substantial growth prospects over the forecast period
Development
of efficient regulatory framework and tariff rates to support green
infrastructural development is expected to fuel the market growth in Europe.
For instance, European Legislation has defined the standards and normalization
rules accounting for the electricity generation through hydropower and wind
power. Furthermore, other regulatory bodies has also defined requirements and
standards include UK legislation, Department of Energy & Climate Change
(DECC), and Office of Gas and Electricity Markets (Ofgem). Increasing number of
green government initiatives to support the growing requirement of electricity
in emerging countries of Asia Pacific such as China, is expected to garner
highest growth rate over the forecast period.
Key
Players in the Global Microhydro-Electric Systems Market
Regional
expansion and increasing awareness regarding the associated benefits of the
system, is expected to help the key industry players to strengthen their
industry position in the microhydro-electric systems market. Some of the key
players operating in the global microhydro-electric systems market include
Addnew Technologies Limited, Alps Power Technologies (P) Limited, Brownell
Micro Hydro, Canyon Industries, Inc., Hebden Bridge Alternative Technology
Centre Ltd., K.C. Larson, Inc., PowerSpout, and Rainbow Power Company Ltd.
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