Pumped Hydro Storage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By System (Open-Loop and Closed-Loop), By Application (Natural Reservoirs and Man-Made Reservoirs), By Region, Competition

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Summary

Report Description

The Global Pumped Hydro Storage Market is expected to thrive during the forecast period 2023-2028. Pumped storage power plants are used to meet the energy requirements of peak loads and to stabilize the load on the grid. A pumped storage power station consists of two reservoirs at different elevations. At peak times, the water stored in the upper reservoir is used to turn a turbine to generate electricity. During times of low demand (usually at night when electricity prices are cheaper), electricity from the grid is used to pump water to restore the upper reservoirs. The system will manage surplus generation capacity and support renewable energy integration and efficient and reliable operation of the grid. As countries around the world focus on energy storage, pumped storage has become a highly demanded energy storage solution. Additionally, pumped storage is currently the only energy storage solution suitable for very large deployments. Moreover, increasing government fossil fuel phase-out targets are likely to support market growth during the forecast period.

Growing demand for Pumped Hydro Storage  

Pumped Storage power generation is called "green battery". It is the only viable way to store energy on a large scale with such a low environmental impact. The whole idea relies on the water cycle powered by the sun and turbines. Therefore, it is a completely renewable source of energy production. Reservoirs are even more sustainable than conventional hydropower because they collect a fixed amount of water in most cases and use it to form independent cycles. Apart from the availability of abundant and sustainable raw materials, these pumped storage facilities provide a constant return on investment due to minimal maintenance requirements.

Another advantage of hydraulic accumulator systems is that they can be used in areas where spring water is scarcely available giving nations suffering from water scarcity a reason to install pumped hydro storage. Also, upper or lower dams and reservoirs that retain generated water may be used as recreational facilities if water levels do not rise or fall rapidly or excessively in response to generation or pumping. This is expected to propel the market during the forecast peroid.

Pumped Hydro Storage (PHS) is a mature technology with high capacity, long lifetime, high efficiency and relatively low capital cost per unit of energy. Due to low evaporation and permeation, PHS has a variable shelf life, typically from hours to days to years. Taking into account evaporation and conversion losses, 71-85% of the electrical energy used to pump water into the pond can be recovered and is expected to contribute in the market growth during the forecast period.

Availability of Power Plants

Pumped storage power plants (PSPPs) are one of the commercially proven grid-scale energy storage methods especially in areas with large installed capacity of wind farms and solar power plants. But limited PSPPs shall cause a hindrance to the growth of this market.

Latest Trends in Global Pumped Hydro Storage market

In 2021, the World Bank had approved a USD 380 million loan to build Indonesia's first pumped storage power plant, Upper Cisokan. The power plant is expected to be located between Jakarta and Bandung. The expected capacity of the plant is 1040 MW. The project aims to ensure the security of power generation during peak domestic demand and achieve decarbonisation goals.

In September 2020, General Electric announced that Megha Engineering had been selected to supply and commission four 125 MW fixed speed pumping turbines for the Kunda power plant in India. The plant is expected to be commissioned in 2023. The project is worth USD 35.33 million.

The San Diego County Water Authority is seeking a private partner to build and operate a pumped storage power plant on the San Vicente Reservoir. The construction and development of the San Vicente Energy Storage Facility is estimated at USD 1.5 billion. California aims to get 100% of its electricity from carbon-free sources by 2045.


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Market Segmentation

Global Pumped Hydro Storage Market is segmented based on System and Application. On the basis of System, the market is bifurcated into open-loop and closed-loop. On the basis of Application, the market is bifurcated into natural reservoirs, man-made reservoirs.

Market player

Major market players in the Global Pumped Hydro Storage market are Electricite de France SA (EDF), Iberdrola SA, EON SE, General Electric Company, Voith GmbH & Co. KGaA, Mitsubishi Heavy Industries Ltd, Toshiba Energy Systems & Solutions Corporation, Andritz Hydro GmbH, Alstom SA, Duke Energy Corporation.

Recent Developments

In April 2021, French power generation company EDF and Uzbekistan's state-owned utility Uzbekhydroenergo announced plans to build a 200 MW pumped storage power plant in the Bostanlik district of Uzbekistan's Tashkent region. In addition to the pumped storage power plant, the project also includes a floating solar power system. It will be the first time to install floating solar panels on a reservoir in Uzbekistan. The MoU is prepared for signature.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Systems

Application

Regional scope

North America, Asia-Pacific, Europe, South America, Middle East & Africa

Country scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Malaysia, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key companies profiled

Electricite de France SA (EDF), Iberdrola SA, EON SE, General Electric Company, Voith GmbH & Co. KGaA, Mitsubishi Heavy Industries Ltd, Toshiba Energy Systems & Solutions Corporation, Andritz Hydro GmbH, Alstom SA, Duke Energy Corporation.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Global Pumped Hydro Storage market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·          Pumped Hydro Storage Market, By Systems:

o   Open-Loop

o   Closed-Loop

·          Pumped Hydro Storage Market, By Application:

o   Natural Reservoirs

o   Man-Made Reservoirs

·         Pumped Hydro Storage Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

§  Singapore

§  Malaysia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Spain

§  Italy

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

§  Turkey

§  Kuwait

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global  Pumped Hydro Storage  market.

Available Customizations:

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).
The Global  Pumped Hydro Storage Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Pumped Hydro Storage Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered while Selecting Vendor

5.3.  Key Satisfaction Level

5.4.  Major Challenges Faced

6.    Global Pumped Hydro Storage Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Systems (Open-Loop, Closed-Loop)

6.2.2.    By Application (Natural Reservoirs, Man-Made Reservoirs

6.2.3.    By Region

6.2.4.    By Company

6.3.  Market Map

7.    North America Pumped Hydro Storage Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Systems

7.2.2.    By Application

7.2.3. By Country

7.3.  North America: Country Analysis

7.3.1.    United States Pumped Hydro Storage Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Systems

7.3.1.2.2.           By Application

7.3.2.    Canada Pumped Hydro Storage Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Systems

7.3.2.2.2.           By Application

7.3.3.    Mexico Pumped Hydro Storage Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Systems

7.3.3.2.2.           By Application

8.    Asia-Pacific Pumped Hydro Storage Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Systems

8.2.2.    By Application

8.2.3.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Pumped Hydro Storage Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Systems

8.3.1.2.2.           By Application 

8.3.1.3.        Market Size & Forecast

8.3.1.3.1.           By Value 

8.3.1.4.        Market Share & Forecast

8.3.1.4.1.           By Systems

8.3.1.4.2.           By Application 

8.3.2.    Japan Pumped Hydro Storage Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Systems

8.3.2.2.2.           By Application 

8.3.3.    South Korea Pumped Hydro Storage Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Systems

8.3.3.2.2.           By Application 

8.3.4.    Australia Pumped Hydro Storage Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Systems

8.3.4.2.2.           By Application 

8.3.5.    Singapore Pumped Hydro Storage Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Systems

8.3.5.2.2.           By Application 

8.3.6.    Malaysia Pumped Hydro Storage Market Outlook

8.3.6.1.        Market Size & Forecast

8.3.6.1.1.           By Value 

8.3.6.2.        Market Share & Forecast

8.3.6.2.1.           By Systems

8.3.6.2.2.           By Application 

9.    Europe Pumped Hydro Storage Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Systems

9.2.2.    By Application 

9.2.2.1.        By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany Pumped Hydro Storage Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Systems

9.3.1.2.2.           By Application 

9.3.2.    United Kingdom Pumped Hydro Storage Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Systems

9.3.2.2.2.           By Application 

9.3.3.    France Pumped Hydro Storage Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Systems

9.3.3.2.2.           By Application 

9.3.4.    Italy Pumped Hydro Storage Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Systems

9.3.4.2.2.           By Application 

9.3.5.    Spain Pumped Hydro Storage Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value 

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Systems

9.3.5.2.2.           By Application 

10. South America Pumped Hydro Storage Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Systems

10.2.2. By Application 

10.2.2.1.     By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Pumped Hydro Storage Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Systems

10.3.1.2.2.         By Application 

10.3.2. Argentina Pumped Hydro Storage Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Systems

10.3.2.2.2.         By Application 

10.3.3. Colombia Pumped Hydro Storage Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Systems

10.3.3.2.2.         By Application 

11. Middle East & Africa Pumped Hydro Storage Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value

11.2.             Market Share & Forecast

11.2.1. By Systems

11.2.2. By Application 

11.2.2.1.     By Country

11.3.             Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Pumped Hydro Storage Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Systems

11.3.1.2.2.         By Application 

11.3.2. South Africa Pumped Hydro Storage Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value 

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Systems

11.3.2.2.2.         By Application 

11.3.3. UAE Pumped Hydro Storage Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value 

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Systems

11.3.3.2.2.         By Application   

12. Market Dynamics

12.1. Drivers

12.1.1. Demand for Reneweable Energies

12.1.2. Use in water scarcity areas

12.1.3. Advantages of PHS

12.2. Challenges

12.2.1. Availability of Power Plants

13. Market Trends & Developments

13.1.   World Bank loan to Indonesia

13.2.   General Electric project with Megha Engineering

13.3.   San Vicente Reservoir  

14. Company Profiles

14.1.             Electricite de France SA (EDF)

14.1.1. Business Overview

14.1.2. Key Revenue and Financials

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.1.6. SWOT Analysis

14.2.             Iberdrola SA, EON SE

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.2.6. SWOT Analysis

14.3.             EON SE

14.3.1. Business Overview

14.3.2. Key Revenue and Financials

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.3.6. SWOT Analysis

14.4.             General Electric Company

14.4.1. Business Overview

14.4.2. Key Revenue and Financials

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.4.6. SWOT Analysis

14.5.             Voith GmbH & Co. KGaA  

14.5.1. Business Overview

14.5.2. Key Revenue and Financials

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.5.6. SWOT Analysis

14.6.             Mitsubishi Heavy Industries Ltd

14.6.1. Business Overview

14.6.2. Key Revenue and Financials

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.6.6. SWOT Analysis

14.7.             Toshiba Energy Systems & Solutions Corporation

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.7.6. SWOT Analysis

14.8.             Andritz Hydro GmbH

14.8.1. Business Overview

14.8.2. Key Revenue and Financials

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.8.6. SWOT Analysis

14.9.             Alstom SA

14.9.1. Business Overview

14.9.2. Key Revenue and Financials

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.9.6. SWOT Analysis

14.10.          Duke Energy Corporation

14.10.1.              Business Overview

14.10.2.              Key Revenue and Financials

14.10.3.              Recent Developments

14.10.4.              Key Personnel

14.10.5.              Key Product/Services

14.10.6.              SWOT Analysis

15.   Strategic Recommendations

15.1.   Key focus towards Closed-Loop segment

15.2.   Key focus on Asia-Pacific

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Pumped hydropower (PSH) is a type of hydroelectric power generation. It is a configuration of two reservoirs of different heights, where water can move (release) from one to the other and generate electricity as it passes through a turbine.

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Electricite de France SA (EDF), Iberdrola SA, EON SE, General Electric Company, Voith GmbH & Co. KGaA, Mitsubishi Heavy Industries Ltd, Toshiba Energy Systems & Solutions Corporation, Andritz Hydro GmbH, Alstom SA, Duke Energy Corporation are the major market players in the Global Pumped Hydro Storage Market.

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Like other hydroelectric power plants, pumped storage plants generate electricity by forcing water into turbine generators. However, unlike conventional hydroelectric power plants, when a pumped storage plant generates electricity, it can pump the water from the lower reservoir back to the upper reservoir.

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Pumped hydro is a proven technology with a typical lifetime of 50+ years compared to batteries that last 8-15 years.

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Parvati Sharma

Account Manager BD
Press Release

Pumped Hydro Storage Market To Be Dominated By Closed-Loop Segment Through 2028

Jan, 2023

Ensuring Grid Stability & increasing awareness for renewable sources is expected to support the growth of the Global Pumped Hydro Storage Market during the forecast period.

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