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Report
North America Hydropower Generation Market By Capacity (Small Hydro Power Plant, Medium Hydro Power Plant, Large Hydro Power Plant), By Application (Commercial, Industrial, Residential), By Country, Competition, Forecast and Opportunities, 2020-2030F
Market Report I 2025-05-16 I 120 Pages I TechSci Research
Market Overview
The North America Hydropower Generation Market was valued at USD 153.29 Billion in 2024 and is projected to reach USD 213.87 Billion by 2030, growing at a CAGR of 5.71% during the forecast period. Hydropower remains one of the most established forms of renewable energy in the region, providing a stable and reliable source of electricity through systems such as dams, reservoirs, and run-of-river installations. The market is gaining momentum amid increasing commitments toward carbon neutrality, coal phase-outs, and growing electricity demand across both urban and rural areas.
The United States and Canada collectively account for a significant share of hydropower generation, with Canada deriving over 60 percent of its electricity from hydro sources. As governments push for deeper decarbonization, hydropower is being reinforced as a dependable base-load renewable energy, supporting grid stability and facilitating the integration of intermittent resources like solar and wind. Investment is also being directed toward upgrading aging facilities, integrating smart technologies, and developing smaller-scale hydro installations in underserved regions. These factors are contributing to a renewed focus on hydropower as a pillar of clean energy development in North America.
Key Market Drivers
Government Policies Supporting Renewable Energy Investments Are Driving Market Expansion
Favorable government initiatives in both the United States and Canada are playing a pivotal role in advancing the hydropower generation sector. Long-term energy strategies targeting net-zero emissions have positioned hydropower as a vital clean energy source due to its scalability and reliability. Legislation such as the U.S. Infrastructure Investment and Jobs Act allocates substantial funding toward hydropower infrastructure modernization, while Canadian federal policies support clean electricity expansion with hydropower as a core component.
Incentives like tax credits, renewable energy grants, and streamlined permitting processes have further encouraged public and private sector investment. These supportive policies have facilitated the development and modernization of over 260 hydroelectric projects across North America as of 2024, strengthening hydropower's role in the continent's energy transition.
Key Market Challenges
Environmental Regulations and Ecosystem Disruptions Hindering Project Approvals
The expansion of hydropower in North America faces considerable regulatory hurdles due to heightened environmental scrutiny. New and existing projects are subject to complex evaluations to assess their impact on aquatic ecosystems, fish migration, and biodiversity. Regulatory frameworks require strict adherence to environmental standards, such as the implementation of fish ladders, seasonal flow controls, and habitat restoration efforts.
Litigation risks from indigenous communities and environmental organizations also contribute to delays and increased project costs. Even small-scale or run-of-river systems must now comply with comprehensive impact assessments, which can deter investment and complicate timelines. This regulatory burden, while crucial for ecological preservation, remains a key obstacle to rapid hydropower development across the region.
Key Market Trends
Integration of Digital Monitoring and Automation Technologies
A growing trend in the North America Hydropower Generation Market is the adoption of advanced digital technologies to enhance operational efficiency and reliability. Utilities are implementing real-time sensors, predictive maintenance tools, AI-driven analytics, and digital twins to optimize performance and reduce downtime. These innovations support better water flow management, turbine monitoring, and energy forecasting.
Digitalization also facilitates integration with decentralized and renewable energy sources, enabling grid responsiveness and improved system resilience. Federal and regional support for digital transformation in clean energy infrastructure is accelerating this trend, positioning hydropower as an increasingly intelligent and adaptive energy solution in the modern power ecosystem.
Key Market Players
- NextEra Energy, Inc.
- Alstom S.A.
- General Electric Company
- Siemens AG
- Statkraft AS
- FirstEnergy Corporation
- Brookfield Corporation
- Fortis Inc.
Report Scope:
In this report, the North America Hydropower Generation Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- North America Hydropower Generation Market, By Capacity:
o Small Hydro Power Plant
o Medium Hydro Power Plant
o Large Hydro Power Plant
- North America Hydropower Generation Market, By Application:
o Commercial
o Industrial
o Residential
- North America Hydropower Generation Market, By Country:
o United States
o Canada
o Mexico
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the North America Hydropower Generation Market.
Available Customizations:
North America Hydropower Generation Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Solution Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. North America Hydropower Generation Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Capacity (Small Hydro Power Plant, Medium Hydro Power Plant, Large Hydro Power Plant)
5.2.2. By Application (Commercial, Industrial, Residential)
5.2.3. By Country (United States, Canada, Mexico)
5.2.4. By Company (2024)
5.3. Market Map
6. United States Hydropower Generation Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Capacity
6.2.2. By Application
7. Canada Hydropower Generation Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Capacity
7.2.2. By Application
8. Mexico Hydropower Generation Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Capacity
8.2.2. By Application
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments
10.1. Merger & Acquisition (If Any)
10.2. Product Launches (If Any)
10.3. Recent Developments
11. Company Profiles
11.1. NextEra Energy, Inc.
11.1.1. Business Overview
11.1.2. Key Revenue and Financials
11.1.3. Recent Developments
11.1.4. Key Personnel/Key Contact Person
11.1.5. Key Product/Services Offered
11.2. Alstom S.A.
11.3. General Electric Company
11.4. Siemens AG
11.5. Statkraft AS
11.6. FirstEnergy Corporation
11.7. Brookfield Corporation
11.8. Fortis Inc.
12. Strategic Recommendations
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