Global hydropower production 2010-2022
From 2010 to 2022, global hydroelectric energy production experienced substantial growth, reaching approximately 4.47 petawatt hours in 2022. Hydropower is one of the most widely used and reliable sources of renewable energy, utilizing mechanical structures, such as dams and watermills, to harness energy from the moving water. By 2023, the installed capacity of renewable power worldwide had surpassed four terawatts, with about 1.24 terawatts of this capacity derived from hydropower.
Major players in the global hydropower sector
China dominates the global hydropower sector, with an installed capacity of 421.45 gigawatts as of 2023. In 2022 alone, China added 13 gigawatts to its hydropower capacity. Brazil and the United States follow with 109.9 gigawatts and 102.12 gigawatts of installed capacity, respectively in 2023. These countries are also among the largest consumers of hydropower, with China consuming 11.46 exajoules, Brazil four exajoules, Canada 3.41 exajoules, and the United States 2.21 exajoules. Employment in the hydropower sector is similarly heavily concentrated in China, accounting for approximately 35.3 percent of the global workforce in this industry.
Economic outlook and challenges
The global hydropower market is expected to continue growing, with a compound annual growth rate (CAGR) of 5.1 percent projected between 2022 and 2030. This growth trajectory would see the market value increase from 219 billion U.S. dollars in 2021 to an estimated 342.5 billion U.S. dollars by 2030. Despite the many benefits of hydropower, there are notable drawbacks. The construction of hydropower plants can cause significant environmental disruption, including the displacement of communities and wildlife habitats, alteration of water flow, and impacts on local ecosystems. Additionally, the high initial costs of building hydropower plants and their dependence on geographical and climatic conditions presents further challenges.
