Global Hydro-Pumped Storage Plants Market-Industry Analysis and forecast 2019 – 2027
Global Hydro-Pumped Storage Plants Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at a CAGR of 5.2% through 2019 to 2027, reaching nearly US$ XX Bn.
Global Hydro-Pumped Storage Plants Market
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Hydro-Pumped Storage Plants Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
Hydro-Pumped storage is a type of hydroelectric energy storage. Hydro-Pumped storage projects store electricity by mixing water between a lower and upper reservoir. Hydro-pumped storage plant is used by the power industry for the drives of load balancing and peak shaving.
The global hydro-pumped storage plants market is estimated to witness lucrative growth over 2019-2027 thanks to an increase in electricity demand among the various countries. The development of hydro-pumped storage plants will contribute to the development of wind and solar power plants while steadying the electrical grid. Also, hydro-pumped storage plants operate in a closed cycle, commonly employing the same amount of water, hence reducing the removal of water from rivers. On the other hand, the requirements of large bodies of water anywhere these plants are set up are estimated to hamper the growth of Hydro-Pumped Storage Plants market to some extent.
Region-wise, Europe hydro-pumped storage plants market was valued at US$ XX Mn. in 2019 and is expected to reach a value of US$ XX Mn. by 2027, with a CAGR of XX.60%. In 2018, The European Union granted US$ 360.5 Mn. toward the Baltic electricity synchronization project. The projects aim to increase the security and reliability of the electricity system by connecting the Baltic network with CEN (Continental European Network). The ongoing infrastructure expenditure toward the expansion of urban areas along with growing electricity consumption across the developing countries will boost the industry growth.
Country-wide, the highest installed capacity of hydro-pumped storage plants can be found in the USA, Japan China, and Western European countries. Most of the economies around the world are turning to the potential of pumped storage power plants as they make the way for increased use of renewable energy. Solar and Wind power plants are subject to strong natural variations.
The MMR report will also provide an accurate prediction of the contribution of the various segments to the growth of the hydro-pumped storage plants market size. Among the services, the storage capacity segment is projected to reach US$ XX Mn by 2027 thanks to the increasing demand for energy storage in major economies.
The research study includes the profiles of leading companies operating in the hydro-pumped storage plants market globally. General Electric Company is a world leader in pumped storage plant equipment and supplies in-house abilities not only for generators and turbines but also the full-electrical balance of the plant.
The objective of the report is to present a comprehensive analysis of the Global Hydro-Pumped Storage Plants Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Hydro-Pumped Storage Plants Market dynamics, structure by analyzing the market segments and projects the Global Hydro-Pumped Storage Plants Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Hydro-Pumped Storage Plants Market make the report investor’s guide.
Scope of the Global Hydro-Pumped Storage Plants Market
Global Hydro-Pumped Storage Plants Market, By Technology
• Single Reversible Pump Turbines
• Separate Pump
• Turbine Generators
Global Hydro-Pumped Storage Plants Market, By Service
• Energy balancing
• Storage Capacity
• Ancillary Grid Services
Global Hydro-Pumped Storage Plants Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Key players operating in the Global Hydro-Pumped Storage Plants Market
• First Hydro
• General Electric Co.
• Siemens AG
• Enel SpA
• Duke Energy Co.
• Dongfang Electric
• Schluchseewerk AG
• Northland Power
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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