Pumped Hydro Storage Market Outlook 2026: Top Companies, Trends, Growth Factors Details by Regions

The pumped hydro storage market was valued at more than USD 300 Billion in 2019. The PHS market is further expected to record a collective installation of 200 GW by 2026.

Pumped hydro storage market growth is set to showcase significant growth in coming years on account of the stringent federal regulations to reduce emission levels and growing inclination towards the adoption of sustainable energy technologies.

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Several nations have started to explore sustainable alternatives for energy generation. In fact, as per UNEP data, Europe invested USD 61.2 billion in terms of renewable energy investments in 2018. When compared to 2017 data, European renewable energy market has shown a growth of 39% in 2018.

Expansion of current grid infrastructure due to favorable regulatory norms may increase the usage of pumped hydro storage. Meanwhile, rising cases of power outages in developing nations would further fuel the need for better grid infrastructure.

Expanding on the use of PHS in Europe, growing demand for sustainable storage technologies to address increasing electricity demand and rapid digitalization of grid networks is projected to foster the Spain pumped hydro storage market in forthcoming years. Reports suggest that the region is projected to show a growth of more than 6% by 2026.

Spain has also seen a growing trend towards innovation in development and design of PHS systems. This can be attributed to various compliance plans that the region is implementing for the generation of clean energy. Reportedly, this shift comes as a response to the directive (2012/27/EU) announced by the European Union to promote energy efficiency among its member nations.

Lately, growing concerns over global warming and climate change have compelled various countries to reduce their carbon emissions. Several nations are now planning to integrate renewable sources of energy with traditional sources. To cite an instance, after considering Canada’s emission level in 2005, the Canadian government has vowed to cut 80% of its carbon emission levels by 2050.

Additionally, the rising focus towards expanding the microgrid network and advancements in the field of distributed generation technologies is set to boost pumped hydro storage market growth within the forecast time period.

Based on the system segment, growing adoption of open-loop systems due to the easy availability of naturally flowing streams and minimal compatibility requirement with hydroelectric systems may fuel the demand for pumped hydro storages.

Besides, setting up these systems require minimal capital and are very easy to refill in the upper reservoirs. These attractive features would play a major role augmenting product adoption. However, it may endanger the existence of aquatic animals present in that area, which may further impact the pumped hydro storage market expansion.

In conclusion, factors like grid stability, energy efficiency, and high-power storage capacity would play an important role in fueling the demand PHS systems. Moreover, advancing strides taken by the developing economies such as the implementation of electrification programs in off-grid areas is increasing power consumption. This could help the pumped hydro storage market to penetrate various developing regional markets that focus on maximum efficiency.

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Citing an EASE report, it was revealed that PHS systems registered 70%-80% of average efficiency when compared to other storage technologies. Few of the major players driving this industry include Voith, Schluchseewerk AG, Genex, SinoHydro, Northland Power, Toshiba, EDF, Abroska, RusHydro, Donfang Electric, GE Alstom, J-Power and Enel.

Table of Contents (ToC) of the report:

Chapter 3   Pumped Hydro Storage Market Industry Insights

3.1   Industry segmentation

3.2   Industry landscape, 2015 – 2026 (USD Billion)

3.3   Industry ecosystem analysis

3.3.1   Vendor matrix

3.4   Innovation & sustainability

3.4.1   Voith

3.4.2   Genex Power

3.4.3   General Electric

3.4.4   Toshiba

3.4.5   Nevada Hydro

3.5   Regulatory landscape

3.5.1   U.S.

3.5.1.1   Hydropower Regulatory Efficiency Act

3.5.1.2   Federal Energy Regulatory Commission (FERC)

3.5.1.3   National Hydropower Association (NHA)

3.5.1.4   Federal Power Act (FPA) (1935)

3.5.1.5   National Environmental Policy Act (NEPA) (1970)

3.5.1.6   Clean Water Act (CWA) (1972)

3.5.1.7   Coastal Zone Management Act (CZMA) (1972)

3.5.1.8   Rivers and Harbors Act (1899)

3.5.1.9   HR 267: The Hydropower Regulatory Efficiency Act (2013)

3.5.2   Europe

3.5.2.1   Horizon 2020 Program

3.5.2.2   Climate policies

3.5.3   UK

3.5.3.1   Energy Act 2008

3.5.3.2   Climate Change Act, 2008

3.5.3.3   National Renewable Energy Action Plan

3.5.3.4   Scotland

3.5.4   China

3.5.4.1   Renewable Energy Law

3.5.4.2   Laws on Domestic Dam Building

3.5.4.3   International Hydropower Association

3.5.4.3.1   Emission Trading Scheme

3.5.4.3.2   Green bonds

3.5.5   Japan

3.5.5.1   Regulatory reforms in Electricity

3.5.5.2   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.

3.10.1.1   North America

3.10.1.1.1   Growing demand for sustainable energy mix

3.10.1.1.2   Increasing demand for energy storage

3.10.1.2   Europe

3.10.1.2.1   Favorable government policies

3.10.1.2.2   Stringent government regulations against emissions

3.10.1.3   Asia Pacific

3.10.1.3.1   Increasing concerns toward security of supply

3.10.1.3.2   Upsurge in electricity demand

3.10.1.3.3   Ongoing renewable energy integration reforms

3.10.1.4   Rest of world

3.10.1.4.1   Growing adoption of sustainable energy mix

3.10.2   Industry pitfall & challenge

3.10.2.1   High capital cost

3.11   Operational pumped hydro storage projects across key countries

3.11.1   U.S.

3.11.2   Canada

3.11.3   Austria

3.11.4   France

3.11.5   Italy

3.11.6   Germany

3.11.7   Spain

3.11.8   Switzerland

3.11.9   UK

3.11.10    China

3.11.11    India

3.11.12    Japan

3.11.13    South Korea

3.12   Announced pumped hydro projects

3.12.1   U.S.

3.12.2   Canada

3.12.3   Japan

3.13   Growth potential analysis

3.14   Porter’s Analysis

3.15   Competitive landscape, 2019

3.15.1   Strategy dashboard

3.15.1.1   Voith Hydro

3.15.1.2   Enel

3.15.1.3   J POWER

3.15.1.4   Genex Power Limited

3.15.1.5   Toshiba

3.16   PESTEL Analysis

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