Never Ending Demand for Electricity Favor the Growth of Pumped-Storage Hydroelectricity Market

San Francisco, July 27, 2018: The global pumped-storage hydroelectricity market is going to witness a steep rise in the demand, as the countries are supporting renewable energy sources and have started relying on them, reports TMR Research in their report titled, “Pumped-Storage Hydroelectricity Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025”. Use of wind and solar energy have now motivated to draw electricity from the hydroelectricity. The ever rising appetite for electricity has made the usage of hydroelectricity to rise.

Get Sample Copy of this Report @

Pump storage hydroelectric is an arrangement of storing hydroelectric energy storage. This electricity is used by the power organization during load balancing or for peak saving. The important factor that is driving the market is the surge in renewable energy. Rise in pollution is make countries worry about the troubles caused by the renewable energy. Extraction of nonrenewable energy, affecting environment in a negative way, thus making research and development in various types of renewable energy. Spain which is relying 6% of their total energy production through wind energy has geared to 20% presently.

Increased production of electricity makes it crucial for the storage device to store the electricity for the future use. This is where the pumped-storage hydroelectricity comes into play. Government schemes of producing electricity through hydroelectricity by several countries are fueling the growth of the market. In order to develop the renewable source of energy, the increase use of pumped-storage hydroelectricity is required. Difference in height variation between the two water reservoirs and availability of a large water bodies, are trying to deter the market. However, the height between the two reservoirs can be settled by altering the topography. Rise in need of power storage system is expected to drive the market.

Read Comprehensive Overview of Report @

On the basis of the technology the market can be divided into separate pump, turbine generators, and single reversible pump turbine. On the basis of end use application the market can be divided on the basis of the service are provide by them. On the basis of geography the market is dominated by Europe, as it serves the maximum demand. Japan from Asia Pacific region is contributing the most. Some of the key players in the market are Voith, J-Power, Exelton, First Hydro, and Alstom.

Pumped-Storage Hydroelectricity Market to Witness Comprehensive Growth by 2025

Global Pumped-Storage Hydroelectricity Market: Snapshot

Pumped-storage hydroelectricity is growing at a significant pace across the globe, thanks to the world’s rising appetite for electricity and the vast surge in renewables. To help accommodate the rising supply of wind energy, for instance, utilities in Spain, where the production of wind energy has increased from about 6% of the country’s total energy production in 2004 to more than 20% presently, utilities have turned to pumped-storage facilities. Pumped-storage hydroelectricity is playing a key role in the field of energy storage today and a massive portion of world’s installed storage capacity is pumped hydro.

As the world embraces wind and solar power, pumped-storage hydroelectricity will witness a huge surge in the next few years. Power generators and utilities are building new pumped-storage hydroelectricity facilities across Europe and Asia Pacific countries as a way of striking a balance between power supply and demand across grid networks. Presently, over 290 pumped-storage hydroelectricity plants are operational globally, with a capacity totaling nearly 150 GW. According to the U.S. Department of Energy’s (DOE) Global Energy Storage Database, more than 45 projects with total capacities of more than 30 GW are under development across the globe.

Request Sample Copy of the Report @

Countries across the globe have ambitious plans to increase the share of renewables in their energy mixes and several government regulations and incentives are encouraging developments in the fields of renewables such as solar and wind power. To accommodate the potential hyper growth of renewables in the near future, the storage capacity of pumped-storage hydroelectricity will also significantly rise.

Global Pumped-Storage Hydroelectricity Market: Inclusive Insight

Pumped-storage hydroelectric (PSH) refers to a system of hydroelectric energy storage, which is utilized by the power industry for peak saving and load balancing. In this system, water is transferred from a lower elevation to a reservoir at higher elevation, and stored. Low cost off-peak electric power is used for this transfer, whereas during the peak demand, the stored water is utilized to run turbines and generate energy. As the cost of electric energy fluctuates, these pumped-storage hydroelectricity systems generated electricity is sold at premium prices and thereby balancing the load on conventional energy sources.

Request TOC of the Report @

Pumped storage hydropower plants can be exploited 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. Pumped storage hydro is capable of supplying a large number of ancillary services ranging from load balancing to voltage control. These plants can also serve as ideal spinning reserves and are useful for black start services to utility grids. Overall, these 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.

With the ever escalating demand for electric energy, the global market for pumped-storage hydroelectricity is projected for a healthy growth rate during the forecast period of 2017 to 2025. This report is a comprehensive analysis of the market for the same in current scenario, and based on several prominent factors that are expected to influence the growth rate, it presents figurative opportunities available. The report also profiles some of the key companies currently operational in the global pumped-storage hydroelectricity market, including their market share and strategic developments. By technology, the market can be segmented into single reversible pump turbine and separate pump and turbine generators. 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.

Read Comprehensive Overview of Report@

Global Pumped-Storage Hydroelectricity Market: Prospects and Inhibitors

The increasing demand for energy storage systems and the emergence of ancillary services are two of the primary driving factors of the market. In the recent times, increased importance has been given to stable form of energy, and technological advancements has made pumped-storage hydroelectricity serve the demand efficiently. Other factors favoring the global pumped-storage hydroelectricity market include the need for alternative energy sources with black start capabilities, reactive power generation, and the assurance to operate as a spinning reserve. Conversely, the availability of large bodies of water along with a height variation between the two reservoirs are noted by the report as two primary restraining factors over the market. However, this barrier can be overcome via man-made alterations to the topography, which also helps in desired size and height measurements.

Global Pumped-Storage Hydroelectricity Market: Prospects and Inhibitors

Europe currently serves the maximum demand, especially from the country-wide markets of the U.K., Switzerland, Austria, and Italy. Asia Pacific market is driven by Japan while the U.S. contributes nearly 95% of the demand from the North American region.

Alstom, First Hydro, Exelon, Voith and J-Power are some of the key players in this market.

Soaring Energy Needs Drive Demand for Pumped-Storage Hydroelectricity

San Francisco, California, May 12, 2017: As most of our contemporary day-to-day conveniences depend on power, the increscent demand for electricity has opened a window of opportunity for the global market for pumped-storage hydroelectricity. The report, titled “Pumped-Storage Hydroelectricity Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025” offers key insights into the competitive landscape, growth drivers, and challenges faced by the market.

A pumped-storage hydroelectric system is deployed in the power industry for load balancing and peak saving. Water is transferred from one reservoir to another, which are at different elevations. When the demand for electricity is low, the surplus energy can be used to pump water to an upper reservoir. Moving water back uphill, the turbine functions as a pump. When there is a high demand for electricity, the stored water can be released through turbines.

With growing inclination towards the adoption of solar and wind power, the need for pumped-storage hydroelectricity is escalating. An extensive numerous ancillary services such as voltage control and load balancing are offered by pumped storage hydroelectricity. These systems can not only function as suitable spinning reserves, but also restoring an electric power station to operation by eliminating the need to rely on an external transmission network.

As more people tend to prefer stable supplies of energy, the demand for pumped-storage hydroelectricity is slated for significant growth. The pressing need for alternative energy sources that are more reliable and feature black start capabilities has also been fueling the market. Technological advancements, necessity of spinning reserves, and demand for reactive power generation are some other factors driving the growth of the market.

On the contrary, the presence of large water bodies and the variation in heights of the two reservoirs can restrict the growth of the global market for pumped-storage hydroelectricity. Nevertheless, the impact of these restraints can be reduced by incorporating man-made alterations as to the topography, achieving the desired height and size measurements.

Geographically, the global market for pumped-storage hydroelectricity could be segmented into Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Europe is expected to emerge as the leader of the global market for pumped-storage hydroelectricity. Italy, the U.K, Austria, and Switzerland are some of the major contributors of the European market.

Asia Pacific bears considerable opportunities for growth, thanks to the growing consumer base, insatiable need for electricity, and rapid growth in industrialization and urbanization. Latin America, backed by the growth of Brazil, and the Middle East and Africa are also slated for promising growth. A number of governments are encouraging the deployment of pumped-storage hydroelectricity via investments and policies. Currently, more than 290 pumped-storage hydroelectricity plants are in operation worldwide, with a capacity of almost 150 GW.