A recent study published by MarkNtel Advisors on the Global Pumped Hydro Storage Market Share, Size, Trends, Growth, Report and Forecast 2023-28 brings together an in-depth understanding of all aspects influencing the industry’s expansion both in the present and during the historical period 2018-21. This analysis comprises unbiased, accurate, & reliable market intelligence, shedding light on key parameters like the market growth drivers, challenges, restraints, and opportunities, among others. The stakeholders can attain data on the key trends, recent developments, investments & strategies, among other elements shaping the market dynamics.
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Pumped Hydro Storage Market Dynamics
“Pumped Hydro Storage Market Analysis, 2023” research report entails a detail-oriented analysis of aspects like the Covid-19 impact, segmentation analysis, country/regional landscape, recent developments, demand & supply chain, and product/service pricing, among others, driving the market expansion across different segments & geographies. This section aims solely to enlighten the stakeholders & the leading players to plan & lay out new strategies for expanding their visibility, product portfolio, & customer base and generating significant revenues in the coming years.
Possible Restraint: High Initial Investment to Limit the Market
However, a large upfront investment is required to establish the necessary infrastructure, which includes the building of upper & lower reservoirs as well as the installation of pumps & turbines are primary barriers to market growth. The average cost of constructing a pumped hydro storage facility varies between USD1,000 & USD2,500 per kW of planned installation capacity, with a typical project size of about 100 megawatts (MW). As a result, the price to construct a 100MW pumped hydro storage would fall between USD100 & USD250 million. Hence, this would constrain the companies & government to set up this system, restricting the market expansion during 2023-28.
Impact of Covid-19 on the Pumped Hydro Storage Market
The advent of Covid-19 in 2020 had a consequential effect on most industries worldwide that instigated our analysts to rigorously examine the ground reality of situations in the Pumped Hydro Storage Market by constantly interacting with the industry experts. The Covid-19 impact analysis section compiles all attributes of relevant events that happened during & after the outbreak, alongside the strategies adopted by the industry players to overcome the damages & sustain amidst the crisis.
Pumped Hydro Storage Market Major Segments
The Pumped Hydro Storage Market bifurcates into the following segmentations:
-By Type
- Open-Loop
- Closed-Loop
Pumped Hydro Storage Market Geographical Landscape
On the geographical front, the market expands across:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Analysis
The study on Pumped Hydro Storage Market brings together extensive research on the prominent companies participating in the industry by rigorously profiling their operations, product/service portfolio, mergers & acquisitions, expansion plans, recent developments, key strategies, and opportunities to attain higher profit margins. The leading industry players, as profiled in the report, include the following:
- ANDRITZ HYDRO GmbH
- Voith GmbH & Co. KGaA
- Siemens
- GE Renewable Energy
- ABB Ltd.
- Alstom Hydro France
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Hyundai Heavy Industries Co., Ltd.
- Hitachi Energy
- J-Power
- Dongfang Electric Corporation
- Harbin Electric Company Limited
- Obermeyer Hydro, Inc.
- Others
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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
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