Pumped Hydro Storage Market: Current Analysis and Forecast (2022-2028)
Emphasis on System (Open Loop, Closed Loop, Innovative); Region/Country
The global Pumped hydro storage Market is expected to grow at a significant rate of 8% during the forecast period 2022-2028. Based on the system, the pumped hydro storage market is segmented into open loop, closed loop, and innovative. The closed-loop segment caters substantial share of the market. Closed loop pumped hydro storage provides high flexibility, reliability, and high-power output. Since the closed-loop pumped-hydro systems are not connected to existing river systems, their impact on the environment is less compared to open-loop pumped hydro storage systems. Moreover, closed loop can easily position where support to the grid is required and therefore do not need to be positioned near an existing river.
Sinohydro Corporation, General Electric, Northland Power, Inc., Eskom Holdings SOC Ltd, Nevada Hydro Corporation, Enel Spa, Greenko Energy, Tata Power, Toshiba Energy System & Solutions Corporation, and Absaroka Energy.
Insights Presented in the Report
“Amongst system, closed loop category to witness robust CAGR during the forecast period”
Based on the system, the pumped hydro storage market is segmented into open loop, closed loop, and innovative. The closed-loop segment caters substantial share of the market. Closed loop pumped hydro storage provides high flexibility, reliability, and high-power output. Since the closed-loop pumped-hydro systems are not connected to existing river systems, their impact on the environment is less compared to open-loop pumped hydro storage systems. Moreover, closed loop can easily position where support to the grid is required and therefore do not need to be positioned near an existing river.
Pumped Hydro Storage Market Report Coverage
“Asia Pacific to hold a significant share in the market”
Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the continued disinvestment in fossil fuels in the region has led to the development of renewable energy, hydropower, and pumped hydro storage facilities in China, Japan, and other Asian Countries. Moreover, in 2021 new FIDs for large-scale dispatchable low-carbon generation reached their highest level in three years, both for nuclear and hydropower.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Pumped hydro storage market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Pumped Hydro Storage Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Pumped hydro storage market were the three major steps undertaken to create and analyze the adoption of Pumped hydro storage in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Pumped hydro storage market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the pumped hydro storage market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the pumped hydro storage market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as system. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the pumped hydro storage market. Further, we conducted factor analysis using dependent and independent variables such as various system. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the pumped hydro storage market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Pumped hydro storage market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the pumped hydro storage market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Pumped hydro storage market in terms of the product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Pumped hydro storage market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of system in the global Pumped hydro storage market.
The main objective of the Global Pumped Hydro Storage Market Study
The current & future market trends of the global Pumped hydro storage market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the pumped hydro storage market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type of system.
- Define and analysis of the regulatory framework for the pumped hydro storage
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the pumped hydro storage market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the pumped hydro storage market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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