Pumped
Hydro Storage Market Insights
The global Pumped Hydro Storage market is forecasted to grow at a
significant CAGR over the forecast period. The market is driven by growing
awareness about energy storage and initiatives taken by the Government to move
towards sustainable energy. High storage capacity, energy efficiency, and grid
stability are some important features of pumped hydro systems.
Moreover, pumped
hydro storage is the only energy solution which can be deployed at a large
scale. This is further expected to generate opportunities in the pumped hydro
storage market. Upgradation of existing plants with advanced technology in
order to improve operational efficiency is one of the major market
opportunities in the pumped hydro storage market.
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Pumped Hydro Storage Market: Type Insights
The global Pumped Hydro Storage market can be segmented into
open-loop pumped hydro storage and closed-loop pumped hydro storage. Open-loop
pumped hydro storage are easily compatible with hydroelectric plants. However,
closed-loop pumped hydro storage has a lower environmental impact, which is
expected to have a positive impact on the segmental growth. Closed-loop pumped
hydro storage has a low impact on aquatic habitat. Further, technological
advancements in turbine and generator design are likely to boost growth in the
pumped hydro storage market.
Pumped
Hydro Storage Market: Regional Insights
China is expected to lead the market for pumped hydro storage
during the forecast period. China has deployed pumped hydro storage to a great
extent during the past few years. North America is expected to register
moderate growth rate during the forecast period owing to Government initiatives
to harness energy and optimize operations. Canada is expected to be a major
contributor to market growth in North America.
Pumped
Hydro Storage Market: End-Use Landscape
The end-use landscape entails a list of current and prospective
consumers prevailing across the regions. This section provides company
addresses, contact details, products, and regional presence of companies who
are purchasing or are likely to purchase Pumped Hydro Storage over the coming
years. Some leading consumers of Pumped Hydro Storage are State Grid
Corporation of China, Enel, Korea Electric Power Corporation’s (KEPCO), and
ATCO Electric among others.
Pumped
Hydro Storage Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in
the market, covering raw material manufactures, equipment developers,
manufacturers, and distributors. The report provides these insights on a
regional level. This section of the report entails contact details, experience,
products manufactured/supplied, and geographical presence of companies.
Pumped
Hydro Storage Market Share & Competitor Analysis
Some of the players operating in the global Pumped Hydro Storage
market include Duke Energy Corp, Chubu Electric Power Company Inc., Enel SpA,
Iberdrola SA, Mitsubishi Electric Corporation, Hitachi Ltd., Toshiba Corp.,
Alstom SA, and Siemens AG.among others.
In January 2018, San Diego County Water Authority announced that
it will develop a 500 MW hydropower energy storage project at the San Vicente
Reservoir in San Diego County. The hydro storage solution is expected to
support power grid operations and integrate renewable and solar energy in power
supply.
In 2017, China installed the most hydropower capacity than any
other country in the world.
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