Pumped hydro storage is a kind of hydroelectric energy storage used by electric power systems for load balancing. The increasing adoption of renewable energy solutions is one of the major factors supporting the growth of the pumped hydro storage market. The growing demand for sustainable energy mix is creating opportunities for the companies operating in the market to achieve a strong market position. Also, the pumped hydro storage market has the presence of some of the well-established players operating in the pumped hydro storage market.
MARKET DYNAMICS
Increasing demand for energy storage, stringent government regulations against emissions, and Upsurge in electricity demand are the major factors supporting the growth of the pumped hydro storage market. However, high capital costs might hinder the growth of the pumped hydro storage market. The pumped hydro storage market is expected to grow at a high CAGR in APAC owing to the increasing awareness regarding the renewable energy sources and supporting government regulations.
MARKET SCOPE
The "Global Pumped Hydro Storage Market Analysis to 2028" is a specialized and in-depth study of the pumped hydro storage market with a special focus on the global market trend analysis. The report aims to provide an overview of pumped hydro storage market with detailed market segmentation by system, application, and geography. The global pumped hydro storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading pumped hydro storage market players and offers key trends and opportunities in the pumped hydro storage market.
MARKET SEGMENTATION
The global pumped hydro storage market is segmented on the basis of system and application. Based on system, the market is segmented as open loop, closed loop, and innovative. On the application the market is segmented as natural reservoirs and man-made reservoirs.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global pumped hydro storage market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The pumped hydro storage market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting pumped hydro storage market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the pumped hydro storage market in these regions.
MARKET PLAYERS
The reports cover key developments in the pumped hydro storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from pumped hydro storage market are anticipated to lucrative growth opportunities in the future with the rising demand for pumped hydro storage market. Below mentioned is the list of few companies engaged in the pumped hydro storage market.
The report also includes the profiles of key pumped hydro storage market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ABSAROKA ENERGY LLC
- Duke Energy Corporation.
- Enel Spa
- GENERAL ELECTRIC
- Genex Power
- J-POWER
- RWE AG
- Siemens Energy
- Toshiba Energy Systems & Solutions Corporation
- Voith GmbH & Co. KGaA
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.