As per estimates, China pumped hydro storage market is forecast to surpass a capacity of 46 GW by 2024. Pumped storage hydropower projects have been providing transmission ancillary benefits and energy storage capacity since ages. Grid stability, high storage capacity, and above all energy efficiency are the prime factors driving the China pumped hydro storage industry share. As claimed by EASE (European Association for Storage of Energy), pumped hydro storage systems have an average efficiency of almost 70% to 80% which is much higher when compared to its other counterparts. Ongoing energy efficiency reforms toward the integration of clean storage system have also favored China pumped hydro storage industry size.
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 storage 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.
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Spain pumped hydro storage market is predicted to exceed 9 GW by 2024. Stringent codes & standards coupled with ongoing investments toward the development of microgrid network will stimulate the product demand. As per 2012/27/EU directive, the European Commission has introduced the regulatory standards to promote energy efficiency across the region.
Growing incorporation of green energy systems along with exponential rise in power consumption will stimulate the U.S. pumped hydro storage market growth. Stringent environment regulations and limited impact on marine habitat will fuel the business growth. Ongoing investment toward hydro power generation coupled with rapid advancement of generators and turbine designs will further boost the product demand.
Grid stability, large-scale storage capacity and energy efficiency are some of the prominent features which will stimulate the pumped hydro storage market growth. Growing electricity demand from off grid remote areas primarily across emerging economies will positively influence the industry growth. As per the European Association for Storage of Energy, the average efficiency range for PHS systems is 70-80% when compared to other available counterparts.
Open loop accounted for over 95% share of global pumped hydro storage market in 2017. Abundant availability of natural water stream coupled with easy compatibility with hydro power plant will positively impact the product demand. Limited cost of refilling the upper reservoir and low capital requirement for construction will further augment the industry landscape.
Growing expansion and refurbishment of ageing power plants with an aim to improve operational flexibility will drive the pumped hydro storage market. Ongoing R&D activities and innovations including network frequency control and variable speed technologies will complement the business outlook. Lack of effective monitoring systems along with increasing electricity outages primarily across emerging economies will further propel the product demand.
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Notable industry players operating across the pumped hydro storage market include Genex, EDF, Absaroka, Voith Hydro, Schluchseewerk AG, Toshiba, Dongfang Electric, Toshiba, SinoHydro, Northland Power, Snowdonia, J-Power, Eskom and Enel.
Glimpse of Table of Content (ToC)
Chapter 3 Pumped Hydro Storage Market Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 – 2024 (USD Billion)
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Innovation & sustainability
3.4.2 Genex Power
3.4.3 General Electric
3.4.5 Nevada Hydro
3.5 Regulatory landscape
188.8.131.52 Hydropower Regulatory Efficiency Act
184.108.40.206 Federal Energy Regulatory Commission (FERC)
220.127.116.11 National Hydropower Association (NHA)
18.104.22.168 Federal Power Act (FPA) (1935)
22.214.171.124 National Environmental Policy Act (NEPA) (1970)
126.96.36.199 Clean Water Act (CWA) (1972)
188.8.131.52 Coastal Zone Management Act (CZMA) (1972)
184.108.40.206 Rivers and Harbors Act (1899)
220.127.116.11 HR 267: The Hydropower Regulatory Efficiency Act (2013)
18.104.22.168 Horizon 2020 Program
22.214.171.124 Climate policies
126.96.36.199 Energy Act 2008
188.8.131.52 Climate Change Act, 2008
184.108.40.206 Renewable Energy Law
220.127.116.11 Laws on Domestic Dam Building
18.104.22.168 International Hydropower Association
22.214.171.124.1 Emission Trading Scheme
126.96.36.199.2 Green bonds
188.8.131.52 Regulatory reforms in Electricity
184.108.40.206 Renewable Portfolio Standard, 2003
3.6 Existing pumped hydro storage project across Australia & New Zealand
3.7 Announced & upcoming projects across Australia & New Zealand
3.7.1 Announced projects
3.7.2 Upcoming projects
3.8 Potential sites across Australia & New Zealand
3.9 Price trend analysis
3.10 Industry impact forces
3.10.1 Growth drivers.
220.127.116.11 North America
18.104.22.168.1 Growing demand for sustainable energy mix
22.214.171.124.2 Increasing demand for energy storage
126.96.36.199.1 Favorable government policies
188.8.131.52.2 Stringent government regulations against emissions
184.108.40.206 Asia Pacific
220.127.116.11.1 Increasing concerns toward security of supply
18.104.22.168.2 Upsurge in electricity demand
22.214.171.124.3 Ongoing renewable energy integration reforms
126.96.36.199 Rest of world
188.8.131.52.1 Growing adoption of sustainable energy mix
3.10.2 Industry pitfall & challenge
184.108.40.206 High capital cost
3.11 Major pumped hydro storage outlook
3.12 Growth potential analysis
3.13 Porter’s Analysis
3.14 Competitive landscape, 2017
3.14.1 Strategy dashboard
220.127.116.11 Voith Hydro
18.104.22.168 J POWER
22.214.171.124 Genex Power Limited
3.15 PESTEL Analysis
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