Global In-pipe Hydro Systems Market: Snapshot
In-pipe hydro systems are relatively easy to set up and do not require additional infrastructure or substantial upfront capital. This has proven highly beneficial to their market. Other factors, serving to boost their uptake are swift pace of urbanization and an equally frantic pace of construction activities, globally. Policy support by governments of both developed and developing nations for renewable energy generation and conservation technologies such as in pipe hydro systems are also serving to catalyze growth in the market.
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Restructuring or redesigning of existing pipeline network is also predicted to result in uptake of more in-pipe hydro systems. Incorporating this renewable energy generation technology would up the cost effectiveness of a project by bringing down dependency on grid electricity from the main grid. Leveraging such technologies power needs of many far-flung rural outposts, which are off the main grid, can be resolved. This presents another opportunity to the market.
A report by Transparency Market Research projects the global in-pipe hydro systems market to expand at a 7.2% CAGR from 2017 to 2025. Rising at this rate, the market which was worth US$8.83 mn in 2016 will reach US$ 16.13 mn by 2025.
Larger Vaults Required for Installation of External Systems Impede their Uptake
Based on the design, the global in-pipe hydro systems market can be bifurcated into internal and external systems. Of them, the internal systems accounted for a lion’s share of 80.0% in the market in 2016. In the years ahead too, the segment is expected to retain its dominant share. The internal systems are installed inside the pipe, therefore its specification depends upon the diameter of the pipe. External systems are installed onto the pipe but they require enclosure vaults. The external pipe hydro system provides greater flexibility in terms of installation, but it needs larger vaults for installation over the pipe. This is serving to hobble growth in their market.
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Environmental Concerns in Asia Pacific Drive Impressive Growth in Market
From a geographical standpoint, North America rakes in maximum revenue. By registering an impressive CAGR of 7.2%, the region is expected to gross US$5.41 bn revenue by 2025. This is mainly on account of increasing turbine installations, technological progress, and presence of prominent players in the region. Asia Pacific trails North America, vis-à-vis revenue generation. The region is also expected to clock maximum CAGR of 7.5% from 2017 to 2025 to rake in a probable revenue of US$5.33 bn by 2025. Factors stoking growth in Asia Pacific are increasing concerns about the environment and the subsequent thrust on generating green energy. In addition, the relatively lower cost of in-pipe hydro systems coupled with urbanization and construction is also lending support to the growth in the industry.