Press release
Pumped Hydro Storages Market to expand exponentially till 2024, By Key Players: Toshiba, Eskom Holdings SOC Ltd, EDF, Voith Group, Alstom Power, Enel, Northland Power Inc., Sinohydro, Genex Power, J-Power
Pumped Hydro Storages Market
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Global Pumped Hydro Storages Market will surpass USD 390 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. 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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Toshiba
2. Eskom Holdings SOC Ltd
3. EDF
4. Voith Group
5. Alstom Power
6. Enel
7. Northland Power Inc.
8. Sinohydro
Global authorities responsible for upholding the planet’s health and well-being, have made increasing investments in the renewable and sustainable energy sector, pumped hydro storages market being one of the pivotal ones. In 2016, the UN reportedly invested $45 billion for the upgradation and modernization of the global grid infrastructure. In 2017, even the International Financial Corporation (IFC) announced the investment of $1.2 billion towards the generation of clean energy in India.
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Ongoing expansion of microgrid network along with advancement in distributed generation technologies will stimulate the pumped hydro storages 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.
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.
Grid stability, energy efficiency and higher storing capacity are some of the key features which will propel the pumped hydro storages 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.
China pumped hydro storage market is also driven by the extensive deployment of open-loop systems. Free flowing water is the oldest and one of the most reliable sources of generating electricity across the world. In accordance with this fact, open-loop pumped hydro storages market has apparently garnered mass popularity across myriad end-use sectors. In fact, this particular business sphere covered a commendable portion of the overall pumped hydro storage industry share in 2017.
Browse key industry insights spread across 164 pages with 144 market data tables & 29 figures & charts from the report, Pumped Hydro Storages Market in detail along with the table of contents:
https://www.gminsights.com/pressrelease/pumped-hydro-storage-market
Germany pumped hydro storages market will grow over 1% by 2024. Favourable energy efficiency compliance programs along with growing demand for sustainable energy storage technologies to meet the increasing power demand will encourage the product adoption. 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.
Open loop in 2017, accounted for over 95% of the global market. Ease of compatibility with a hydro power plant coupled with availability of natural flowing water stream will positively influence the product demand. As per DOE the U.S has around 3 open-loop projects which are in announced and under construction stage. Accelerating investments pertaining to the adoption of sustainable energy technologies coupled with favourable regulatory framework toward the upgradation and expansion of grid network will stimulate pumped hydro storages market.
In 2016 the UN, reported an investment of USD 45 billion for strengthening & modernization of ageing grid infrastructure worldwide. In addition, upsurge in power consumption across the emerging economies along with increasing concerns toward energy security will positively influence the product adoption.
Eminent players across the pumped hydro storages market includes Alstom Power, Voith Group, EDF, Absaroka, J-Power, Eskom Holdings SOC Ltd, Genex, Toshiba, Snowdonia, DONGFANG ELECTRIC CORPORATION (DEC), Sinohydro, Northland Power Inc., Schluchseewerk AG and, Enel.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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