양수 발전 : 시장 점유율 분석, 산업 동향 및 통계, 성장 예측(2025-2030년)

The Pumped Hydro Storage Market is expected to register a CAGR of 5.87% during the forecast period.

Due to supply chain disruptions, COVID-19 hurt the pumped hydro storage market. However, the market rebounded in 2022.

Key Highlights

• During the forecast period, the PHS market is expected to be driven by the integration of variable renewable energy sources and the need to keep the grid stable. Furthermore, increasing government targets to phase out fossil fuels will likely aid the market's growth during the forecast period.
• However, during the forecast period, the market studied is likely affected by the environmental and social effects of PHS projects and the growing competition from other energy storage technologies.
• Several new PSH technologies are being worked on right now. This is expected to speed up the development and use of PSH technology for energy storage while lowering costs and negative effects on the environment in the future, creating several opportunities. Further, as per the International Hydropower Association, nearly 240 GW of PSH projects will likely come online by 2030.
• Asia-Pacific turned out to be the largest market for pumped hydro storage, as it achieved the highest annual increase in capacity during 2020, continuing the growth trajectory primarily driven by China.

Pumped Hydro Storage Market Trends

Closed-loop Segment Expected to Dominate the Market

• In closed-loop systems, pumped hydro storage plants are created, in which one or both reservoirs are artificially built, and no natural inflows of water are involved with either reservoir. The only way to store a substantial amount of energy is by locating a large body of water relatively near the second body of water but as high above as possible. In some places, this happens naturally. In others, one or both bodies of water are man-made. The moderately low energy density of pumped storage systems entails either significant differences in height or large flows between reservoirs.
• Closed-loop pumped hydro storage offers high flexibility, reliability, and power output. Since 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, they can be located where support for the grid is required and therefore do not need to be positioned near an existing river.
• Over the coming years, closed-loop systems are likely to witness significant growth because of the greater certainty in gaining an operating license or permit since they do not interfere with the existing river systems or any water streams. As per the Pacific Northwest National Laboratory (PNNL) under the US Department of Energy (DOE), the number of licensing applications and preliminary permits for closed-loop pumped hydro storage systems has significantly increased in recent years.
• The growing implementation of closed-loop pumped hydro storage projects in countries like the US can institute a favorable business scenario for developers looking to expand their market presence.
• For instance, Sumatera Pump Storage is a 500 MW hydropower project. It is planned in West Sumatra, Indonesia. The project is currently in its announced stage. It will be developed in a single phase. The project's construction is likely to commence in 2024 and is expected to enter commercial operation in 2027. The project cost is expected to be around USD 1.107 billion.
• Due to all of these factors, the close-loop segment is expected to lead the market over the next few years.

Asia-Pacific Expected to Dominate the Market

• According to the International Hydropower Association, as of 2021, Asia-Pacific had around 685 GW of installed hydro storage capacity, with China and Japan accounting for the majority share in the region. In 2021, the installed hydropower capacity was about 23.85 GW.
• As Asia and the Pacific continue to move away from fossil fuels, renewable energy, hydropower, and pumped hydro storage facilities are being built, especially in China, Japan, the ASEAN region, South Korea, and India.
• Furthermore, China announced its plan to become carbon neutral by 2060 and reach peak coal consumption by 2025. Besides China's mid- and long-term plans for pumped storage hydropower development, published in September 2021, it set out ambitious targets to reach a total installed capacity of at least 62 MW by 2025 and 120 GW by 2030. This led to increased investment in the renewable sector, and in 2021, around 21 GW of new hydropower was installed, including 1.2 GW of pumped storage from the last four units of the Jixi project.
• Also, the 1.8 GW Jixi Pumped Storage Power Station is the largest pumped hydro storage project, costing an estimated USD 1.61 billion. It was developed by the State Grid Xinyuan Company, a subsidiary company of the State Grid Corporation of China (SGCC).
• Furthermore, South-East Asia witnessed significant development in the hydropower and pumped hydro storage markets. However, many projects were delayed due to persistent lockdowns due to the COVID-19 pandemic. However, the World Bank held a summit to encourage South Asian nations to unlock and invest in sustainable hydropower.
• For instance, in September 2021, Indonesia announced its first pumped storage plant. The World Bank-supported project, Upper Cisokan PSH, is expected to be 1,040 MW and located between Jakarta and Bandung. It will provide necessary system flexibility to the electricity in the region.
• Similarly, the South Korean Hydropower Industry Association announced the construction of three new projects with a total capacity of 1.8 GW in Pocheon, Hongcheon, and Yeongdong, which are set to be completed by 2034.
• Due to the above reasons, it is expected that Asia-Pacific will lead the pumped hydro storage market over the next few years.

Pumped Hydro Storage Industry Overview

The pumped hydro storage market is moderately fragmented. Some of the key players in the market include (not in particular order) General Electric Company, Siemens AG, Enel SpA, Duke Energy Corporation, and Voith GmbH & Co. KGaA, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Scope of the Study
• 1.2 Market Definition
• 1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

• 4.1 Introduction
• 4.2 Pumped Hydro Installed Capacity and Forecast in GW, till 2028
• 4.3 Hydro Power Installed Capacity and Forecast in GW, till 2028
• 4.4 Hydroelectricity Generation in TWh, 2013-2021
• 4.5 Recent Trends and Developments
• 4.6 Government Policies and Regulations
• 4.7 Market Dynamics
  • 4.7.1 Drivers
  • 4.7.2 Restraints
• 4.8 Supply Chain Analysis
• 4.9 Porter's Five Forces Analysis
  • 4.9.1 Bargaining Power of Suppliers
  • 4.9.2 Bargaining Power of Consumers
  • 4.9.3 Threat of New Entrants
  • 4.9.4 Threat of Substitutes Products and Services
  • 4.9.5 Intensity of Competitive Rivalry
• 4.10 Cost of Pumped Hydro Energy Storage System

5 MARKET SEGMENTATION

• 5.1 Type
  • 5.1.1 Open-loop
  • 5.1.2 Closed-loop
• 5.2 Geography
  • 5.2.1 North America
  • 5.2.2 Europe
  • 5.2.3 Asia-Pacific
  • 5.2.4 South America
  • 5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
• 6.2 Strategies Adopted by Leading Players
• 6.3 Company Profiles
  • 6.3.1 Operators
    • 6.3.1.1 Duke Energy Corporation
    • 6.3.1.2 EON SE
    • 6.3.1.3 Enel SpA
    • 6.3.1.4 Electricite de France SA (EDF)
    • 6.3.1.5 Iberdrola SA
  • 6.3.2 Technology Providers
    • 6.3.2.1 General Electric Company
    • 6.3.2.2 Siemens AG
    • 6.3.2.3 Andritz AG
    • 6.3.2.4 Mitsubishi Heavy Industries Ltd
    • 6.3.2.5 Voith GmbH & Co. KGaA
    • 6.3.2.6 Ansaldo Energia SpA

7 MARKET OPPORTUNITIES AND FUTURE TRENDS