Pumped Hydro Storage Market to hit US$ 666.38 billion by 2032 | Top Companies 2025 - ANDRITZ Hydro GmbH, General Electric Company, Voith Hydro Holding GmbH & Co. KG

"The global pumped hydro storage market reached US$ 332.12 billion in 2024 and is expected to reach US$ 666.38 billion by 2032, growing with a CAGR of 9.20% during the forecast period 2025-2032." As per DataM intelligence research report

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United States: Recent Industry Developments

✅ In August 2025, the Salt River Project announced plans for a new pumped storage facility in Arizona with a capacity between 1,000 MW and 2,000 MW. This project aims to provide reliable energy storage for approximately 225,000 to 450,000 homes for up to 10 hours after each reservoir refill.

✅ In June 2025, the U.S. Department of Energy selected eight projects to support entrepreneurs and small businesses in hydropower and marine energy, focusing on innovations in pumped storage technologies to enhance grid stability and renewable energy integration.

✅ In May 2025, the National Hydropower Association released the 2024 Pumped Storage Report, detailing both the promise and challenges facing the U.S. pumped storage hydropower industry. The report emphasizes the vital role of pumped storage in a renewable energy future.

China: Recent Industry Developments

✅ In June 2025, China was reported to be on track to exceed its 2030 pumped storage hydropower target by more than 8%, potentially reaching 130 gigawatts by the end of the decade, according to the International Hydropower Association.

✅ In May 2025, China's National Energy Administration released a plan aiming to increase pumped storage capacity to over 62 GW by 2025 and around 120 GW by 2030, with 167 GW of pumped hydro in planning or under construction.

✅ In April 2025, Chinese researchers published a study indicating that a planned capacity of 120 GW of pumped storage hydropower is already sufficient to balance electricity supply and demand by 2050, suggesting a strategic focus on both pumped hydro and battery storage.

Pumped Hydro Storage Market: Drivers

The pumped hydro storage market is experiencing strong growth as countries focus on grid stability and integration of renewable energy sources. These systems store excess electricity by pumping water to elevated reservoirs and releasing it to generate power when needed, offering reliable energy balancing. Rising adoption of intermittent renewable sources like solar and wind is driving demand for large-scale energy storage solutions. Governments and utilities are increasingly investing in pumped hydro projects to enhance energy security and reduce carbon emissions. With its proven technology and scalability, pumped hydro storage remains a cornerstone of sustainable energy infrastructure.

Technological advancements in turbine efficiency, control systems, and grid integration are improving performance and operational flexibility of pumped hydro storage. Expansion of smart grids and supportive regulatory policies are creating favorable market conditions worldwide. The growing focus on decarbonization and meeting renewable energy targets is further boosting deployment. Environmental assessments and innovative site selection strategies are enabling development of new projects with minimal ecological impact. With increasing renewable penetration and the need for reliable energy storage, the pumped hydro storage market is poised for long-term growth.

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Segment Covered in the Pumped Hydro Storage Market:

➥ By Type: Open-Loop Systems, Closed-Loop Systems
➥ By Plant Type: Pure Pumped Storage Plants, Mixed Pumped Storage Plants
➥ By Storage Capacity: 500 MW
➥ By Application: Grid Stabilization & Frequency Regulation, Load Shifting, Renewable Energy Integration, Energy Arbitrage, Others

Pumped Hydro Storage Market: Major Players

ANDRITZ Hydro GmbH, General Electric Company, Voith Hydro Holding GmbH & Co. KG, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Hitachi Energy Ltd., Mitsubishi Power Ltd., Dongfang Electric Corporation, Harbin Electric Machinery Company Limited, and Bharat Heavy Electricals Limited.

Most Frequently Asked Questions in the Pumped Hydro Storage Market Research Industry:

➠ Who leads the Pumped Hydro Storage industry and what's their competitive positioning regarding capacity, performance, and profitability?
➠ What growth opportunities and market challenges do Pumped Hydro Storage market vendors face?
➠ Which segments show the highest growth potential and market share distribution?
➠ What factors are driving or limiting Pumped Hydro Storage market growth?
➠ What are the dominant sales and distribution strategies in the Pumped Hydro Storage industry?

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Regional Analysis:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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