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Pumped Hydro Storage Market Size
- Report ID: GMI2019
- Published Date: Feb 2022
- Report Format: PDF
Pumped Hydro Storage Market Size
Pumped Hydro Storage Market size exceeded USD 330 billion in 2021 and is projected to grow at around 10% CAGR during 2022 to 2028. The industry is poised to cross a cumulative installation of about 300 GW by 2028. Strict regulatory reforms to reduce carbon emissions in line with continuous capacity expansion to cater to the increasing power demand will foster the industry growth.
Ongoing government efforts toward grid infrastructure expansion along with rising investments in sustainable energy technologies will boost the market demand. Rapid renewable integration and associated long-term benefits has augmented an interest toward the adoption of PHS technology. Additionally, the ability to provide low operational costs, flexibility in power output, and high storage capacity will propel product demand. Sustainable energy expansion followed by an upsurge in investments for capacity addition will further spur pumped hydro storage deployment.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Pumped Hydro Storage Market Size in 2021: | 330 Billion (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 10% |
| 2028 Value Projection: | 640 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 248 |
| Segments covered: | System |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Pumped Hydro Storage Market Scope
