Global Hydro-pumped Storage Plants Market 2023-2027
The hydro-pumped storage plants market is forecasted to grow by USD 147.54 bn during 2022-2027, accelerating at a CAGR of 7.71% during the forecast period. The report on the hydro-pumped storage plants market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by demand for new water resources due to urbanization and safety concerns, increase in sustainable water storage technologies, and stringent government regulations on greenhouse gas emissions.
Technavio's hydro-pumped storage plants market is segmented as below:
By Application
- Load balancing
- Ancillary grid services
- Stability
- Storage capacity
By Type
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the integration of pumps with IIoT as one of the prime reasons driving the hydro-pumped storage plants market growth during the next few years. Also, adoption of solar-powered pumps and rising demand for pump repair and refurbishment will lead to sizable demand in the market.
The report on the hydro-pumped storage plants market covers the following areas:
- Hydro-pumped storage plants market sizing
- Hydro-pumped storage plants market forecast
- Hydro-pumped storage plants market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hydro-pumped storage plants market vendors that include ALSTOM SA, Duke Energy Corp., E.ON SE, Electricite de France SA, Enel Spa, Exelon Corp., First Hydro Co., General Electric Co., Gilbert Gilkes and Gordon Ltd., HD Hyundai Co. Ltd., Hitachi Ltd., Iberdrola SA, Mitsubishi Electric Corp., Siemens AG, Sulzer Management Ltd., Sumitomo Electric Industries Ltd., Toshiba Corp., voestalpine AG, Voith GmbH and Co. KGaA, and Andritz AG. Also, the hydro-pumped storage plants market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.