Global Pumped Hydro Storage Market to exceed 200 GW by 2024 - PowerPoint PPT Presentation

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Global Pumped Hydro Storage Market to exceed 200 GW by 2024

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More Information @ Pumped hydro storage offers storage of energy in the form of water. These systems are used by electric power companies for electrical load balancing and is the largest capacity form of grid energy storage. The water is stored in an upper reservoir and electricity is generated by pumping the water into lower reservoir during peak times. The water is pumped back from lower to upper reservoir during off peak demand. – PowerPoint PPT presentation

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Title: Global Pumped Hydro Storage Market to exceed 200 GW by 2024


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Global Pumped Hydro Storage Market to reach
350bn by 2024 Global Market Insights Inc.
2
Key Insights from Pumped Hydro Storage Market
  • The Pumped Hydro Storage Market trends are
    analyzed from recent past with an eye on coming
    years in this report that also offers projections
    for Pumped Hydro Storage industry targeted at
    helping in business decisions. Pumped Hydro
    Storage Market size will exceed USD 350 billion
    by 2024.
  • Favourable regulatory framework pertaining to the
    upgradation and expansion of electrical
    infrastructure coupled with growing adoption of
    sustainable energy will drive the pumped hydro
    storage market size. Lack of efficient monitoring
    system and frequent supply outages across the
    developing economies will further stimulate the
    product demand. The China National Energy
    Administration in 2017 declared a funding of USD
    326.4 billion toward the expansion of renewable
    electrical network by 2020.
  • Ongoing expansion of micro-grid networks favored
    by rapid development of distributed generation
    technology will propel the pumped hydro storage
    market size. Growing concerns toward reduction of
    carbon footprint along with upgradation and
    expansion of existing PHS system to enhance the
    operational flexibility will propel the business
    outlook.

3
Continued...
  • Japan pumped hydro storage market size is set to
    exceed 30 GW by 2024. Growing concerns toward
    energy security along with increasing investments
    toward deployment of grid network will propel the
    product landscape. Upsurge across the integration
    of renewable energy technologies will further
    stimulate the business outlook. The Japan
    Ministry of Economy, have announced investments
    worth USD 700 million in line with the
    integration of sustainable energy storage
    technology across the country.
  • High storage capacity, energy efficiency and grid
    stability are some of the key parameters that
    will drive the pumped hydro storage market.
    According to EASE, the PHS plants have an average
    efficiency of 70 80 when compared with other
    technologies.
  • U.S. pumped hydro storage market size will grow
    owing to upgradation and refurbishment of
    existing grid infrastructure along with rising
    adoption of advanced grid support system.
    Integration of clean energy technologies and
    expansion of micro grid networks will further
    embellish the product landscape.

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Continued...
  • Open loop in 2016, accounted for over 90 of
    pumped hydro storage market share. Availability
    of free-flowing water source along with effective
    compatibility with a hydroelectric plant will
    embellish the product penetration. According to
    Department of Energy, there are three open-loop
    projects announced and in under construction
    phase in the U.S.
  • Growing energy consumption along with ongoing
    investments toward modernization of electric grid
    infrastructure will embellish the South Korea
    pumped hydro storage market. Favorable government
    initiatives pertaining to sustainable energy mix
    will further stimulate the industry outlook. In
    2017, The South Korea government has approved a
    plan to invest USD 1.67 billion toward
    development of renewable energy in the country.
  • Key industry players in pumped hydro storage
    market includes Voith Hydro, EDF, Absaroka,
    Genex, Toshiba, Schluchseewerk AG, Dongfang
    Electric, Snowdonia, SinoHydro, Eskom, Enel,
    Northland Power and J-Power.

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UK Pumped Hydro Storage Market Size, By System,
2016 2024 (USD Billion)

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Browse Full Market Research Report On Pumped
Hydro Storage Market _at_ http//bit.ly/2gnZttK
Request for a Sample of this Research
Report _at_ https//www.gminsights.com/request-sample
/detail/2019
7
360 Analysis
  • By System
  • Ease of compatibility with a hydroelectric plant
    coupled with availability of a free-flowing water
    source will positively influence the open loop
    pumped hydro storage market share. As per
    Department of Energy, in 2016 there are 34
    open-loop storage projects operational in China.
  • Closed loop pumped hydro storage market is set to
    exceed USD 16 billion by 2024. Low impact on
    aquatic habitat along with the technological
    advancement in turbine and generator design will
    propel the business outlook. According to DOE in
    2016, there are six closed-loop PHS projects
    under planning and construction stage in the U.S.
  • By Region Trends
  • Upgradation and refurbishment of existing grid
    infrastructure along with growing demand for
    reliable grid support system will foster the U.S.
    pumped hydro storage market size. China pumped
    hydro storage market is set to exceed 45 GW by
    2024. Spain pumped hydro storage market size is
    projected to witness gain of over 3 by 2024.
  • Competitive Market Share
  • Key industry players in pumped hydro storage
    market includes Voith Hydro, EDF, Absaroka,
    Genex, Toshiba, Schluchseewerk AG, Dongfang
    Electric, Snowdonia, SinoHydro, Eskom, Enel,
    Northland Power and J-Power.


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