District Cooling Market: Latest Trends,Analysis & Insights 2024 Underground Hydro Power Plant Market - Positive Lo | Page 3

hydropower plants market. However, the construction of hydropower plants bring several challenges for market players need to
overcome for successful operation.
One of the key hindrances is logistical constraints, a problem aggravated by the presence of steep slopes and difficult terrain. The high
cost of excavation and substantial spending required in making seismic surveys and for analysis of water tables are key factors likely
to dissuade many to invest in underground hydro power plants. In addition, various feasibility studies pertaining to assessing
groundwater exchanges and reservoir volumes may further complicate underground hydro power projects. Nevertheless, with
advances in hydroelectric power generations technology, solutions to all of these challenges are likely to be found in the forthcoming
years. The growing popularity of underground pumped storage hydropower and the concept of decentralized renewable energy
generation gaining traction among energy producers are key factors expected to open up lucrative growth avenues for market players.
Underground Hydro Power Plant Market: Regional Outlook
North America is one of the leading markets attributed to the presence of large installed capacity of underground hydropower. The
major contributo r of the regional market growth is Canada possessing the highest installed capacity. The market in the U.S. is fast
emerging driven by rapidly growing needs of electricity and the presence of large swathes of underground water resources.
On the other hand, Asia Pacific and Africa are expected to show impressive growth in the coming years. Countries such as China,
India, Australia, New Zealand, Indonesia, Philippines, and Vietnam exhibit significant potential for underground hydro project
development. The presence of large untapped hydropower generation potential in Africa, particularly in Nigeria and Ghana, is
anticipated to catalyze the regional market growth.
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Companies mentioned in the report
Some of the prominent companies vying for a significant share in the underground hydropower plant market are AECOM, Nalcor
Energy, The Churchill Falls (Labrador) Corporation, Tokyo Electric and Power Company (TEPCO), and Meridian Energy Limited.
Several market players are offering digitized solutions and advanced control systems to gain a competitive edge over others. Leading
companies are investing substantially in the construction of underground hydropower projects that have substantial generation
capacity.
Major regions analyzed under this research report are:
•
North America