Increase in utilization of hydroelectric cells in portable applications is likely to present significant opportunities for cell manufacturers
Wilmington, Delaware, United States, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Adoption of cost-effective, eco-friendly, and efficient methods for green energy generation is driving the hydroelectric cells industry. Governments are formulating policies to support clean energy goals. These efforts are likely to lead to significant renewable electricity capacity expansion in the near future. Hence, utilization of low-cost renewable energy resources is likely to increase, which is expected to broaden the hydroelectric cells market outlook. The global hydroelectric cells market stood at US$ 1.7 Bn in 2021 and is projected to reach US$ 3.0 Bn by 2031.
Utilization of SnO2-based hydroelectric cells in renewable electricity generation has increased. The SnO2 segment accounted for leading share of 50.2% in 2021. Long lifespan, low cost of maintenance, and eco-friendliness are the key advantages likely to spur the usage of these cells. Energy produced by hydroelectric cells are extensively utilized in residential applications.
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Key Findings of Study
Key Drivers
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Regional Growth Dynamics
Competition Dynamics
The market landscape is consolidated, with the presence of small number of large players. Numerous companies are investing significantly in R&D activities in order to consolidate their positions and market share.
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Prominent vendors in the market include CSIR-National Physical Laboratory.
Hydroelectric Cells Market Segmentation
Metal Oxide
Application
Regions Covered
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