The Pumped Hydro Storage Global Market Report 2023, provides comprehensive information on the pumped hydro storage market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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The global pumped hydro storage market size is expected to grow from $347.80 billion in 2022 to $378.79 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global pumped hydro storage market size is expected to reach $526.71 billion in 2027 at a CAGR of 8.6%.

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Technological advancement is the key trend gaining popularity in the pumped hydro storage market. Major companies operating in the pumped hydro storage market are focusing on developing new technologies to sustain their position in the market. For instance, in February 2023, Hitachi Energy Ltd., a US-based power technology company, launched SFC, the static frequency converter solution using modular multi-level technology for a pumped hydro storage plant in Europe. This technology's unique feature is its capacity to reduce power losses, boost revenue, and enable grid integration of additional solar and wind power for a more sustainable energy future. Through improved plant efficiency and grid stabilization, this technology and application are transforming the world's energy system into one that is more secure, adaptable, and sustainable.

The pumped hydro storage market is segmented:

1) By Type: Open-Loop, Closed-Loop

2) By Source: Natural Reservoirs, Man-Made Reservoirs

3) By End User: Government Agency, Grid Operators, Electricity Utilities, Other End Users

Asia-Pacific was the largest region in the pumped hydro storage market in 2022

The table of contents in TBRC’s pumped hydro storage market report includes:

Executive Summary
Pumped Hydro Storage Market Characteristics
Pumped Hydro Storage Market Trends And Strategies
Pumped Hydro Storage Market - Macro Economic Scenario
Pumped Hydro Storage Market Size And Growth
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Africa Pumped Hydro Storage Market
Pumped Hydro Storage Market Competitive Landscape And Company Profiles
Key Mergers And Acquisitions In The Pumped Hydro Storage Market
Pumped Hydro Storage Market Future Outlook and Potential Analysis
Appendix
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