Pumped Hydro Storage Market Growth Opportunity By Top Key Players: Alstom Power, Voith Group, EDF, J-Power, Eskom, Genex, Toshiba, DONGFANG ELECTRIC CORPORATION (DEC), SinoHydro, Northland Power, Eskom Holdings SOC Ltd, Schluchseewerk AG Enel
Adoption of sustainable energy technologies along with favorable government regulations toward expansion & upgradation of electrical network will foster the pumped hydro storage market. Increasing electricity outages across the emerging economies coupled with lack of effective monitoring systems will accelerate the product penetration. In 2017 NEA, announced an investment of USD 326 billion toward expansion of renewable energy infrastructure by 2020 across China.
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Ongoing expansion of microgrid network along with advancement in distributed generation technologies will stimulate the pumped hydro storage market. Upgradation and expansion of existing PH projects to increase the operational efficiency will propel the industry growth. Rising concerns pertaining to emission will further strengthen the product demand. For instance, the government of Canada has pledged for 80% reduction in emission levels by 2050 when compared with 2005 levels.
Grid stability, large-scale storage capacity and energy efficiency are some of the prominent features which will stimulate the pumped hydro storage market growth. Growing electricity demand from off grid remote areas primarily across emerging economies will positively influence the industry growth. As per the European Association for Storage of Energy, the average efficiency range for PHS systems is 70-80% when compared to other available counterparts.
Spain PHS market will exceed 9 GW by 2024. Accelerating investments toward development of micro grid network along with propitious energy efficiency labelling & compliance plans will positively influence the product demand. The European Commission introduced directive (2012/27/EU) to provide a standardized regulation to promote energy efficiency in the EU countries.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & analysis:
1. Alstom Power
2. Voith Group
8. DONGFANG ELECTRIC CORPORATION (DEC)
10. Northland Power
11. Eskom Holdings SOC Ltd
12. Schluchseewerk AG Enel
• Open Loop
• Closed Loop
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Refurbishment and upgradation of existing grid network along with increasing demand for grid support systems and other ancillary services will positively impact the U.S. pumped hydro storage market. Advancement in distribution generation technologies coupled with incorporation of green energy technologies will accelerate the product adoption. China through its Sovereign Wealth Fund has planned to invest USD 800 billion for the development of infrastructure across the nation.
Growing expansion and refurbishment of ageing power plants with an aim to improve operational flexibility will drive the pumped hydro storage market. Ongoing R&D activities and innovations including network frequency control and variable speed technologies will complement the business outlook. Lack of effective monitoring systems along with increasing electricity outages primarily across emerging economies will further propel the product demand.
Eminent players across the pumped hydro storage industry includes EDF, Voith Hydro, Absaroka, Genex, Schluchseewerk AG, Toshiba, Dongfang Electric, Northland Power, SinoHydro, Snowdonia, Eskom, J-Power and Enel.
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