Global Pumped Hydro Storage Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Pumped Hydro Storage Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Type (Open-loop, and Closed-loop), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Pumped Hydro Storage (CAES) Market was valued at USD 354,639.1 million in 2023 and is expected to reach USD 604,795.2 million by 2031 while growing at a CAGR of 6.9% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global pumped hydro storage market growth. Pumped Hydro Storage (PHS) utilizes water's gravitational potential energy for grid energy storage, making it one of the oldest and widely used large-scale methods. These systems comprise two reservoirs at different elevations. Excess electricity pumps water from the lower to the upper reservoir, and during high demand, stored water is released downhill through turbines to generate electricity.
Increasing Renewable Energy Integration and Grid Stability and Reliability drive the growth of the pumped hydro storage market. However, obstacles like high initial capital costs, and environmental and regulatory challenges may impede market expansion.
Furthermore, the global pumped hydro storage industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Type Analysis
The Global Pumped Hydro Storage Market is segmented among Open-loop, and Closed-loop, based on Type. In 2023, Closed-loop accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Pumped Hydro Storage Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are General Electric Company, Siemens AG, Andritz AG, Mitsubishi Heavy Industries Ltd, Voith GmbH & Co. KGaA, and Ansaldo Energia SpA.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Pumped Hydro Storage Market Dynamics
Drivers
Restraints
Opportunity
4. Global Pumped Hydro Storage Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Pumped Hydro Storage Market Segmentation, By Type
Global Pumped Hydro Storage Market Share Analysis, By Type
Global Pumped Hydro Storage Market Growth Analysis, By Type
Global Pumped Hydro Storage Market Trends, By Type
o Open-loop
o Closed-loop
6. Global Pumped Hydro Storage Market Segmentation, By Region
Global Pumped Hydro Storage Market Share Analysis, By Region
Global Pumped Hydro Storage Market Growth Analysis, By Region
Global Pumped Hydro Storage Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
7. Competitive Landscape
General Electric Company*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Siemens AG
Andritz AG
Mitsubishi Heavy Industries Ltd
Voith GmbH & Co. KGaA
Ansaldo Energia SpA
*Similar analysis will be provided for each company listed above.