Hydro-Pumped Storage Plants Market Global Market Opportunity Assessment Study 2024.

Global Hydro-pumped Storage Plants Market: Overview

The ever-increasing global population and the limited availability of non-renewable energy resources make it mandatory to conserve as much energy as possible and use it efficiently. Hydro-pumped storage plants are used by the power industry for the purposes of peak shaving and load balancing. These facilities store energy in the form of water in an upper reservoir, pumped from another reservoir at a lower elevation. This enables the generation of power as and when required as well as conserve it during low demand intervals.

The players in the market for hydro-pumped storage plants generate maximum revenue from the sale of power during peak loads at a premium cost, thereby balancing the load on conventional energy sources. The report observes that hydro-pumped storage plants can be harnessed better when used alongside wind energy turbines. These wind turbines pump water back into the reservoir during lean demand, resulting in the better utilization of excess generation. According to the report, the global market for hydro-pumped storage plants is to expand at a healthy CAGR during the forecast period of 2014 to 2020.

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Based on technology, the global market for hydro-pumped storage can be segmented into single reversible pump turbines and separate pump and turbine generators. Recent developments in this sector are giving rise to a few new technologies such as micro hydro-pumped storage plants, seawater hydro-pumped storage plants, and underground hydro-pumped storage plants. By application, this market can be segmented on the basis of the service they provide, such as energy balancing, stability, storage capacity, and ancillary grid services.

Global Hydro-pumped Storage Plants Market: Trends and Opportunities

The report finds that the increasing demand for energy storage systems and the emergence of ancillary services are two of the primary factors that are driving the global market for hydro-pumped storage plants. It has also been noted that hydro-pumped storage is gaining traction because of the increased importance of grid stability, along with the need for load balancing and energy storage. Moreover, the requirement of alternative energy sources with black start capability, reactive power generation, and an ability to operate as a spinning reserve are other factors that augur well for the future of this market during the forecast period.

Conversely, the most prominent restraint on the hydro-pumped storage plants market, according to the report, is the requirement of large bodies of water wherever these plants are set up. Additionally, not all locations are ideal for the height variation that is required between two reservoirs for the proper functioning of hydro-pumped storage plants. However, the report finds that the requirement of height variations can be easily overcome via manmade alterations to the topography, which results in a desired size and height measurement. As the pressure mounts on electrical grids globally to cater to the ever-growing demand for energy, the demand for ancillary services is increasing.

Global Hydro-pumped Storage Plants Market: Region-wise Outlook

The earliest development of hydro-pumped storage plants occurred in the central European region, especially in the U.K., Austria, Italy, and Switzerland. As a result, Europe served as the most prominent market for these energy storage plants in 2012, followed by Asia Pacific and North America. The report rates Japan as a significant market for hydro-pumped storage in Asia Pacific region while the U.S. accounted for over 95% of the installed pumped storage hydro generating capacity in 2012, with Canada occupying the remaining. Africa is rated as a relatively nascent market but a few countries in these regions are showing promising potential for the future.

Companies Mentioned in the Research Report

Some of the prominent players in the global market for hydro-pumped storage plants are Alstom, First Hydro, Exelon, Voith, and J-Power. To present a thorough evaluation of the competitive landscape, the report provides vital details of these players such as production, capacity, price, cost, gross, and segmented revenue.

Hydro-Pumped Storage Plants Market is expected to witness substantial growth during Forecast by 2020

The increasing demand for energy storage systems and emergence ancillary services is one of the main market drivers for pumped storage hydro in the future. Hydro-pumped storage plants system is a form of hydroelectric energy storage used by the power industry for the purposes of peak shaving and load balancing. In hydro-pumped storage plants, water flows from a lower elevation reservoir to another reservoir at a higher elevation where it is stored. During times of peak demand this stored water is utilized to run turbines whereas the low cost off-peak electric power is used to pump back the water to the upper reservoir.

These hydro-pumped storage plants systems generate maximum revenue from the sale of power during peak loads at the highest prices thereby balancing the load on conventional energy sources. Hydro-pumped storage plants can be harnessed better when used alongside wind energy turbines. The wind turbines pump water back into the reservoir during lean demand times thus resulting in better utilization of excess generation.

An increasing importance given toward grid stability coupled with the need for load balancing and energy storage are driving the growth of hydro-pumped storage plants. Other drivers for this industry include the need for alternative energy sources with black start capability, reactive power generation, and an ability to operate as a spinning reserve. The biggest restraint here is the availability of large bodies of water coupled with a height variation required between the two reservoirs. This can be overcome fairly easily through manmade alterations to the topography resulting in the desired size and height measurements. As more pressure is put on the electrical grids around the world to supply the ever growing demand for energy, ancillary service demand is increasing.

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Hydro-pumped storage plants are capable of supplying a large number of ancillary services ranging from load balancing to voltage control. Hydro-pumped storage plants can also serve as excellent spinning reserves and also provide black start services to utility grids. Overall, hydro-pumped storage plants are an integral part of any robust energy generation mix and satisfy the requirement of ample backup power in times of grid failures or other supply related emergencies. The technological segmentation consists of single reversible pump turbine and separate pump & turbine generators. Recent developments are giving rise to technologies such as micro hydro-pumped storage plants, seawater hydro-pumped storage plants, and underground hydro-pumped storage plants facilities. The end use application of pumped storage hydroelectricity can be segmented on the basis of the service they provide. Some of the services provided by pumped storage hydro are energy balancing, stability, storage capacity and ancillary grid services.

The earliest hydro-pumped storage plants developments occurred in the central European region, especially in the U.K, Switzerland, Austria, and Italy. In 2012, Europe was the market leader in hydro-pumped storage plants generation, followed by the Asia Pacific and North America. Japan is the major market player in pumped storage hydro facilities in Asia-Pacific followed by South Korea and Taiwan. In North America, the U.S. accounts for over 95% of the installed pumped storage hydro generating capacity with Canada occupying the balance. Africa is a relatively nascent market but is showing promising potential in the future. There are a large number of projects in the pipeline in most of regions which have significant potential to double the capacity installed currently if realized. Some of the key players in this market are Alstom, First Hydro, Exelon, Voith and J-Power among others.