Global Pumped Hydro Storage Market Report 2025-2032 | Investment Trends - Most Leading companies - Voith Hydro Holding GmbH & Co. KG, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Hitachi Energy Ltd., Mitsubishi Power Ltd.

DataM Intelligence has published a new research report on "Pumped Hydro Storage Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

Pumped Hydro Storage dominates grid-scale energy storage, holding over 90% of capacity rising from 160 GW in 2020 to 182 GW in 2023. In 2022, hydropower added 34 GW, including 10 GW of new PHS. With a 214 GW project pipeline and 600,000+ potential off-river sites, PHS offers vast expansion potential despite slower recent growth.

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With renewable generation set to nearly double by 2030, adding 935 GW yearly (95% from wind and solar), PHS is expected to expand as a key long-duration storage solution. Advances like variable-speed turbines further boost grid flexibility and services.

Pumped Hydro Storage (PHS) makes up over 90% of global electricity storage, balancing renewables and stabilizing supply. With potential exceeding 8,000 GW versus 160 GW installed, PHS offers vast scalability. As renewable energy rises, especially in Asia and Europe, it ensures grid flexibility and supports a stable clean energy transition.

Over 90% of global grid-scale storage 165 GW comes from PHS, with the US holding 22 GW (93% of utility storage) and Japan 25 GW for peak balancing. The EU backs PHS in mountainous regions, while Voith Hydro's turbine upgrades boost efficiency by 20%, reinforcing PHS as a vital clean energy solution.

Key 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.

Industry Developments

In January 2025, the International Hydropower Association (IHA) launched a toolkit to address barriers and policy needs for pumped storage (PS) growth. With nearly 200 GW installed and 400+ projects worldwide, PS supplies over 90% of global long-duration energy storage.

In February 2024, Energiasalv issued an international tender via Mercell for a 500 MW underground pumped hydro plant in Paldiski, inviting global partners in mining, infrastructure, and engineering to collaborate on design, civil, and electromechanical works.

Growth Forecast Projected:

The Global Pumped Hydro Storage Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Pumped Hydro Storage Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

Closed-loop pumped hydro systems, which avoid dependence on natural water bodies and lower ecological impact, dominate the US pipeline, making up over 95% of new FERC-listed projects. The DOE estimates over 35 GW of feasible capacity, with projects like the 1.2 GW, $2 billion Goldendale Energy Storage Project in Washington leading the way.

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)

Regional Analysis for Market:

North America is driving growth in the pumped hydro storage (PHS) market, fueled by the need for grid stability and renewable integration. The U.S. operates around 43 PHS plants with a combined capacity of 553 GWh, adding 1.4 GW through upgrades in the past decade. The Department of Energy also sees potential for over 36 GW of new capacity across the country.

Closed-loop pumped hydro systems, which avoid dependence on natural water bodies and lower ecological impact, dominate the US pipeline, making up over 95% of new FERC-listed projects. The DOE estimates over 35 GW of feasible capacity, with projects like the 1.2 GW, $2 billion Goldendale Energy Storage Project in Washington leading the way.

⇥ 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)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Pumped Hydro Storage producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Pumped Hydro Storage revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q1: What is the current size of the Pumped Hydro Storage Market?

A: The Pumped Hydro Storage Market stood at US$ 332.12 billion in 2024 and is set to experience remarkable growth, reaching US$ 666.38 billion by 2032

Q2: How fast is the Pumped Hydro Storage Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 9.20% from 2025 to 2032

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