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Offshore Hydropower Market Size is anticipated to witness significant growth over the forecast 2016 – 2023

“Key industry participants accumulating significant offshore hydropower market share include Iberdrola, First Solar, Bronzeoak Philippines, Vattenfall, Calpine Corp, NextEra Energy, Siemens, Alstom, China Yangtze Power, RusHydro, LDK Solar, Suzlon Energy," "Offshore hydropower market size is anticipated to witness significant growth over the forecast period. Hydropower market size was estimated to account for more than 16% of the overall power production in 2015 and is likely to grow at CAGR of over 3% from 2016 to 2023." Clean energy offered by these systems accompanied by ability to handle base load demand is anticipated to drive offshore hydropower market growth. Non-intermittent flow of electricity offered by production plants is likely to surge the industry demand from 2016 to 2023. In addition, it also allows plant operators to have excellent control over the energy production. Rising awareness regarding conventional energy might positively impact the industry growth. Furthermore, increasing carbon footprint is likely to boost offshore hydropower market size over the forecast period. Hydropower plants can be categorized on the basis of production capacity such as small, large, Pico-hydro as well as micro plants. Plants with more than 30 MW of production capacity are called large plants. Small production plants are the ones having production capacity ranging between 100 KW to 30 MW. Energy generation plants having production capacity less than 100 KW fall under Pico and micro power plants.

 

Furthermore, it does not require any extra construction such as a dam or reservoir. It is anticipated to be the most favored technology for power generation. The large production systems are anticipated to pose derogatory impact on wild life and on environment during flood situations if not constructed properly, might negatively impact the industry growth. Large number of permits required for construction is likely to hider the industry demand. In addition, high financial requirement for installation of these systems might pose as challenge to the industry growth over the several upcoming years. Pumped-storage hydropower plants likely to increase in significance owing to energy storage advantages. Micro and small hydro systems are anticipated to witness highest growth owing to high facilities furnished by the setup. Proliferating demand for decentralized electricity production globally might drive the industry growth over the several upcoming years.

 

Tidal power turbines market offers functioning similar to operating principle of horizontal axis wind turbines. Tidal current generates a torque on the rotor that is used to propel a step-up gearbox; this in turn is likely to drive the asynchronous generator and thus results in energy generation.

Power electronics implied in these systems are expected to regulate the power quality. This latest Offshore Hydropower Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Offshore Hydropower Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.

Thank you Ron