Pumped Hydro Storage Market Trends 2017 – Growth Forecast Research 2024

Global Pumped Hydro Storage Market is set to exceed USD 350 billion by 2024. Swift development of distributed generation technologies along with expansion of microgrid network will embellish the pumped hydro storage market share. Ongoing expansion and upgradation of existing PHS systems along with rising concerns to reduce carbon footprint will stimulate the business landscape. The government of Canada in 2016, promised to decrease emissions by 80% below 2005 levels by 2050.

Grid stability, energy efficiency and high storage capacity are key specification that will fuel the pumped hydro storage market. Growing energy demand across the developing nations will further propel the business landscape. According to EASE, the average efficiency of a PHS plant is 70% - 80% when compared to other technologies.

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Favorable government policies pertaining to expansion and upgradation of electrical infrastructure coupled with adoption of renewable energy technologies will embellish the pumped hydro storage market share. Frequent power outages and lack of proper electricity infrastructure in emerging economies will further fuel the industry outlook. In 2017, the China National Energy Administration announced a funding of USD 326.4 billion for the development and expansion of sustainable electrical network by 2020.

Open loop pumped hydro storage accounted for 90% of the global pumped hydro storage market share. Ease of compatibility with a hydropower plant along with abundant availability of river water sources will drive the product landscape. According to DOE in 2017, there are three open loop projects in under construction and announced stage in the U.S.

Japan PHS market share is set to surpass 30 GW by 2024. Upsurge in the integration of sustainable energy technologies along with rising concerns toward energy security will propel the pumped hydro storage market.

Increasing investments toward deployment of micro grid network across the nation will further compliment the business landscape. The Japan Ministry of Economy announced an investment of USD 700 million toward the development of sustainable energy storage technologies across the nation.
Ongoing adoption of advanced grid system along with refurbishment and upgradation of existing grid network will embellish the pumped hydro storage market in the U.S. Expansion of micro grid network and integration of clean energy technology will further enhance the industry outlook.

South Korea pumped hydro storage market share will grow substantially owing to ongoing investments toward modernization of grid infrastructure and increasing power consumption across the nation. Favorable government policies pertaining to sustainable energy mix will further embellish the business landscape. The South Korea government in 2017, approved proposed to invest USD 1.7 billion toward the development of sustainable energy technologies in the nation.

Eminent players in the pumped hydro storage market comprises of EDF, Voith Hydro, Toshiba, Genex, Absaroka, Dongfang Electric, Northland Power, J-Power, Eskom, SinoHydo, Snowdonia and Schluchseewerk AG.

Browse key industry insights spread across 140 pages with 144 market data tables & 8 figures & charts from the report, “Pumped Hydro Storage Market Size by System (Open loop, Closed loop, Innovative), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, UK, France, Austria, Spain, Portugal, Ukraine, Switzerland, China, Japan, South Korea, India, Rest of World) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/pumped-hydro-storage-market

Glimpse of Table of Content (ToC)

Chapter 3. Pumped Hydro Storage Market Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 - 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.4. Technology & Innovation landscape

3.5. Price trend analysis

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.6. Regulatory landscape

3.6.1. U.S.

3.6.2. Europe

3.6.3. UK

3.6.4. China

3.6.5. Japan

3.7. Industry impact forces

3.7.1. Growth drivers

3.7.1.1. North America

3.7.1.1.1. Increasing demand for grid storage

3.7.1.1.2. Growing demand for sustainable energy mix

3.7.1.2. Europe

3.7.1.2.1. Favorable government policies

3.7.1.2.2. Stringent government regulations against emissions

3.7.1.3. Asia Pacific

3.7.1.3.1. Increasing concerns toward security of supply

3.7.1.3.2. Upsurge in electricity demand

3.7.1.3.3. Ongoing renewable energy integration reforms

3.7.1.4. Rest of World

3.7.1.4.1. Growing adoption of sustainable energy sources

3.7.2. Industry pitfalls & challenges

3.7.2.1. High capital cost

3.8. Major pumped hydro storage project outlook

3.8.1. Operational

3.8.2. Announced

3.8.3. Under Construction

3.9. Growth potential analysis

3.10. Porter's analysis

3.11. Competitive landscape

3.11.1. Strategy dashboard

3.12. PESTEL analysis

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