Please Wait.....
Report
Asia-Pacific Pumped Hydro Storage Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 92 Pages I Mordor Intelligence
The Asia-Pacific pumped hydro storage market is expected to register a CAGR of over 2.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently, the market has reached pre-pandemic levels.
Key Highlights
Over the short term, the Asia-Pacific pumped hydro storage market is projected to thrive due to the fact that it is the most competitive and reliable way of storing energy and, secondly, the rising energy requirements of the Asia-Pacific region.
On the other hand, the socio-economic barriers, like opposition from the public due to lack of land and loss of biodiversity, are expected to threaten the growth of the pumped hydro storage market in the region.
Nevertheless, the growing inclination toward renewables in almost every country in the region creates ample opportunities for the pumped-hydro storage market. The governments of various Asia-Pacific countries are in continuous efforts to expand the renewables share in their electricity generation portfolio.
China is predicted to capture the largest market share in the coming years due to government initiatives to increase the pumped hydro storage capacity.
APAC Pumped Hydro Storage Market Trends
Closed-loop Segment Expected to Witness Significant Growth
In closed-loop systems, pumped hydro storage plants are created so that one or both the reservoirs are artificially built, and no natural water inflow is involved with either of them. Closed-loop pumped hydro storage offers high flexibility, reliability, and high-power output. Since the 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 positioned where support for the grid is required.
The pure pumped hydro storage installed capacity in Asia was recorded at 71,668 MW in 2021, the highest among all the regions across the world. The capacity grew consistently in the last five years due to the growing demand for closed-loop pumped hydro storage plants in the region.
A research team from Australia has concluded through a research study that the closed-loop pumped hydro storage plants may overshadow the open-loop PSH plants in the near future due to the benefits it provides, like, overcoming the problem of finding suitable sites for pumped hydro storage plant location, and no environmental effects on water resources.
Furthermore, closed-loop pumped hydro storage offers high flexibility, reliability, and power output. The other major factor for their preference is the certainty of gaining an operating license or permit since they do not interfere with the existing river systems or any water streams.
Such factors pave the way for an explicitly visible momentum for the closed-loop pumped hydro storage market during the forecast period.
China Expected to Dominate the Market
China leads the global hydropower market with around 35.45 GW of renewable hydropower capacity as of 2021. The hydro source constitutes about 16% of the total electricity generation mix. The country is also strenuously working on a lucid pumped hydro storage development, particularly with new policies and project goals.
In the year 2021, the country's pure pumped hydro storage installed capacity was around 36.39 GW, the highest among all the Asian countries. The technology is set to bloom even more in China due to the efforts made by the government and private entities.
For example, in June 2022, the Power Construction Corporation of China announced that it had started working on the new 270 GW of pumped hydro storage capacity to be added to the country's electricity mix, with the installation of 200 pumped hydro storage plants by 2025. It is expected to raise China's installed capacity by around 10% and the world's energy storage capacity by about 170%.
Furthermore, in January 2022, the country commissioned the world's largest pumped hydro storage plant in China's Hebei province. The 3.6 GW pumped hydro storage facility consists of 12 reversible pumps generating sets with 300 MW each and possesses a power generation capacity from storage of 6.6 billion kWh.
Such developments are projected to drive the pumped hydro storage market in the country in the near future.
APAC Pumped Hydro Storage Market Competitor Analysis
The Asia-Pacific pumped hydro storage market is fragmented in nature. Some of the key players (in no particular order) include Enel SpA, General Electric Company, Siemens AG, Voith GmBH & Co. KGAa, and Tokyo Electric & Power Company.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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 Installed Capacity and Forecast in GW, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Open Loop
5.1.2 Closed Loop
5.2 Geography
5.2.1 China
5.2.2 South Korea
5.2.3 India
5.2.4 Japan
5.2.5 Rest of Asia-Pacific
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 Enel SpA
6.3.2 General Electric Company
6.3.3 Siemens AG
6.3.4 Voith GmBH & Co. KGaA
6.3.5 Tokyo Electric & Power Company
6.3.6 Stantec
6.3.7 Black & Veatch Holding Company
6.3.8 Andritz AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security