Pumped Hydro Storage Market Growth Factor By Top Key Players: Alstom Power, Voith Group, EDF, Eskom Holdings SOC Ltd, Toshiba, Enel, Sinohydro, Northland Power Inc., DONGFANG ELECTRIC CORPORATION (DEC), Genex Power, J-Power

Pumped hydro storage market is characterized by the active participation of major biggies which include Absaroka, EDF, Toshiba, Alstom, Northland Power, Voith, SinoHydro, and Schluchseewerk AG. Development of cost effective storage systems and technological incorporations in product design are two of the major strategies adopted by the leading industry players. With the ever-increasing demand for uninterrupted power supply, pumped hydro storage systems are set to witness a massive deployment rate in an extensive range of projects.

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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Global Pumped Hydro Storage Market was worth over USD 300 billion in 2017 and will surpass USD 390 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. 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, energy efficiency and higher storing capacity are some of the key features which will propel the pumped hydro storage market. The increasing electricity demand from off grid and remote areas across the emerging economies will encourage the product demand. As per EASE, these systems have an average efficiency range between 70 to 80% in comparison to other technologies.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Alstom Power
2. Voith Group
3. EDF
4. Eskom Holdings SOC Ltd
5. Toshiba
6. Enel
7. Sinohydro
8. Northland Power Inc.
9. DONGFANG ELECTRIC CORPORATION (DEC)
10. Genex Power
11. J-Power

By System

• Open Loop
• Closed Loop
• Innovative

Growth Drivers:

1. Growing demand for sustainable energy mix in North America
2. Increasing demand for energy storage in North America
3. Favorable government policies in Europe
4. Stringent government regulations against emissions in Europe
5. Increasing concerns toward security of supply in Asia Pacific
6. Upsurge in electricity demand in Asia Pacific
7. Ongoing renewable energy integration reforms in Asia Pacific
8. Growing adoption of sustainable energy mix

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Spain pumped hydro storage 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.

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 concerns toward energy security along with increasing adoption of sustainable energy technologies will stimulate the Japan PHS market. Upsurge in demand for sustainable energy storage coupled with rapid technological advancements will encourage the pumped hydro storage market. The industry has witnessed strong impact from leading energy storage players including Toshiba, Voith, GE Alstom and Hitachi on account of their extensive innovations and availability of large scale storage capacity.

Key industry players catering across the pumped hydro storage market include Alstom Power, Voith Group, EDF, J-Power, Eskom Holdings SOC Ltd, Genex Power, Toshiba, DONGFANG ELECTRIC CORPORATION (DEC), Sinohydro, Northland Power Inc., Schluchseewerk AG, and Enel.

Browse key industry insights spread across 164 pages with 144 market data tables & 29 figures & charts from the report, Pumped Hydro Storage Market in detail along with the table of contents:

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

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