Hydropower Market- Australia

Market Statistics

Base Year: 2023

Market Size in 2023: 17.3 TWh

Market Size in 2032: 23.6 TWh

Market Growth Rate: 3.10% (2024-2032)

The Australia hydropower market is expanding rapidly, owing to several interconnected factors. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 3.10% from 2024 to 2032.

Download sample copy of the Report: https://www.imarcgroup.com/australia-hydropower-market/requestsample

Australia Hydropower Industry Trends and Drivers:

Australia Hydropower Market: Key Growth Drivers and Trends

Market Expansion Drivers

• National Emphasis on Renewable Energy

  • Australia's focus on renewable energy is a central factor in hydropower growth, as it aims to mitigate climate change and reduce carbon emissions.
  • Hydropower, as part of Australia's renewable energy portfolio, benefits from the country's ample water resources, particularly in high-rainfall areas.

• Government Initiatives and Investment in Infrastructure

  • Government policies and incentives are accelerating the shift towards cleaner energy sources, providing strong support for hydropower expansion.
  • Significant investments are being directed toward renewable infrastructure, further boosting the development of the hydropower sector.

• Reliable Baseload Energy

  • Hydropower’s capacity to provide a steady, reliable electricity supply makes it advantageous compared to intermittent renewable sources like wind and solar.

• Integration of Pumped Hydro Energy Storage (PHES)

  • PHES systems enable energy storage during low-demand periods, making electricity available during peak hours, enhancing grid stability and reliability.

Key Trends Shaping the Market

• Advancements in Digital Technology

  • The adoption of digital technologies, such as smart grids and real-time monitoring systems, is improving the efficiency and sustainability of hydropower plants.
  • These technologies enable optimized water resource management and boost the overall effectiveness of energy generation.

• Modernization of Aging Infrastructure

  • Many older hydropower facilities are being upgraded to extend their operational life, enhance efficiency, and meet contemporary energy demands.

• Rising Demand for Clean, Sustainable Energy

  • Increasing preference for sustainable energy sources, alongside technological innovations, is fostering growth in Australia’s hydropower sector.
  • Favorable regulatory frameworks support further hydropower development, aligning with Australia’s push for carbon neutrality.

• Growth Potential for Hydropower Capacity

  • Australia’s considerable potential for expanded hydropower capacity positions it as a key player in the renewable energy transition.

Outlook for Future Market Growth

• The combined influence of government policies, infrastructure investments, technological advancements, and Australia’s carbon-neutral goals is set to drive sustained growth in the hydropower market.
• The convergence of these factors is anticipated to propel further expansion of Australia’s hydropower sector in the coming years.

IMARCs report provides a deep dive into the Australia hydropower market analysis, outlining the current trends, underlying market demand, and growth trajectories.

Australia Hydropower Industry Segmentation:

The report has segmented the market into the following categories:

Size Insights:

• Large Hydropower (Greater Than 100 MW)
• Small Hydropower (Smaller Than 10 MW)
• Other Sizes (10-100 MW)

Application Insights:

• Residential
• Commercial
• Industrial

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia

Request for customization: https://www.imarcgroup.com/request?type=report&id=24698&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:  

IMARC Group 

Street: Morgan Park QLD 4370

City/Town: Warwick

State/Province/Region: Queensland

Country: Australia

Zip/Postal Code: 4370

Email: sales@imarcgroup.com

Phone Number: +1-631-791-1145