Pumped Hydro Storage Market, By Type (Open Loop, Closed Loop), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Pumped Hydro Storage Market, By Type (Open Loop, Closed Loop), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

"Pumped Hydro Storage Market, By Type (Open Loop, Closed Loop), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Pumped hydro storage (PHS) is an energy storage method that uses water to store energy. This process uses a reservoir, well, or rock formation to store water. When surplus electricity is generated, the pumped water is channeled over a turbine, generating electricity. This process is closed-loop and has the potential to store massive amounts of energy. Pumped hydro storage is a great way to store excess electricity and use it during times when demand is high. It is particularly useful in areas where the availability of peaker plants is limited. These plants are designed to operate during times of high demand but are increasingly used to fill the gaps in the grid when intermittent renewable generation is insufficient.

Market Dynamics

The pumped hydro storage market is growing in terms of revenue and installation in various geographies. Its key growth drivers include the availability of abundant natural resources, ease of construction, and power generation. Additionally, the rise in renewable energy generation and the increasing need for grid network load management are again contributing to the industry's growth. The industry's rapid growth is also supported by the emergence of newer technologies and ongoing R&D (Research and development)activities.

On the other hand, the environmental and social impact of PHS projects is projected to hinder market growth.

Key features of the study:

This report provides an in-depth analysis of the global pumped hydro storage market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year.

• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global pumped hydro storage market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Operators(Duke Energy Corporation, EON SE, Enel SPA, and Electricite de France SA, and Iberdrola SA) Technology Providers(General Electric Company, Siemens AG, Andritz AG, Mitsubishi Heavy Industries, Ltd, Voith GmbH & Co. KGaA, and Ansaldo Energia SpA)
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global pumped hydro storage market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global pumped hydro storage market

Global Pumped Hydro Storage Market Detailed Segmentation:

• By Type:
• Open Loop
• Closed Loop
• By Region:
• U.S.
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa
• Company Profiles
• Duke Energy Corporation
• EON SE
• Enel SPA
• Electricite de France SA (EDF)
• Iberdrola SA
• General Electric Company
• Siemens AG
• Andritz AG
• Mitsubishi Heavy Industries, Ltd
• Voith GmbH & Co. KGaA
• Ansaldo Energia SpA