Market Size of Asia-Pacific Pumped Hydro Storage Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 82 gigawatt |
| Market Volume (2029) | 103.10 gigawatt |
| CAGR (2024 - 2029) | 4.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Pumped Hydro Storage Market Analysis
The Asia-Pacific Pumped Hydro Storage Market size in terms of installed base is expected to grow from 82 gigawatt in 2024 to 103.10 gigawatt by 2029, at a CAGR of 4.70% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing adoption of renewable energy coupled with supportive government policies are projected to thrive in the Asia-Pacific pumped hydro storage market.
- On the other hand, the competition from other energy storage technologies is expected to threaten the growth of the pumped hydro storage market in the region.
- Nevertheless, the growing technological advancements in pumped hydro storage technology are expected to create significant opportunities for the market during the forecasted period.
- China is predicted to capture the largest market share in the coming years due to government initiatives to increase the pumped hydro storage capacity.Nevertheless, the growing technological advancements in pumped hydro storage technology are expected to create significant opportunities for the market during the forecasted period.
- China is predicted to capture the largest market share in the coming years due to government initiatives to increase the pumped hydro storage capacity.
Asia-Pacific Pumped Hydro Storage Industry Segmentation
Pumped hydro storage technology is a type of hydroelectric energy storage. It includes a configuration of two reservoirs at different elevations that generate power as water moves from one to another, passing through a turbine.
The Asia-Pacific pumped hydro storage market is segmented by type and geography. By type, the market is segmented into open loop and closed loop. The report also covers the market size and forecasts for the Asia-Pacific pumped hydro storage market across the major countries. For each segment, the market sizing and forecasts have been done based on installed capacity (in GW).
| Type | |
| Open Loop | |
| Closed Loop |
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | |
| China | |
| South Korea | |
| India | |
| Japan | |
| Rest of Asia-Pacific |
Asia-Pacific Pumped Hydro Storage Market Size Summary
The Asia-Pacific pumped hydro storage market is poised for significant growth over the forecast period, driven by the increasing adoption of renewable energy and supportive government policies. Despite facing competition from other energy storage technologies, advancements in pumped hydro storage technology are expected to create substantial opportunities. China is anticipated to dominate the market, bolstered by government initiatives aimed at expanding pumped hydro storage capacity. The region's focus on closed-loop systems, which offer high flexibility, reliability, and reduced environmental impact, is expected to further propel market momentum. These systems are gaining traction due to their ability to be positioned where grid support is needed without interfering with existing river systems.
The market landscape is characterized by a fragmented competitive environment, with key players such as Enel SpA, General Electric Company, Siemens AG, Voith GmBH & Co. KGAa, and Tokyo Electric & Power Company actively participating. Notable developments in China, including the commissioning of the world's largest pumped hydro storage plant and the inauguration of new facilities, are set to enhance the country's energy storage capacity significantly. Additionally, projects in India, such as those by Torrent Power, highlight the region's commitment to expanding pumped hydro storage capabilities. These initiatives underscore the growing importance of pumped hydro storage in meeting the region's energy demands and supporting the transition to renewable energy sources.
Asia-Pacific Pumped Hydro Storage Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Installed Capacity and Forecast in GW, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Renewable Energy Integration
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1.5.1.2 Supportive Government Policies and Regulations
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1.5.2 Restraints
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1.5.2.1 Competition with Other Energy Storage Technologies
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Open Loop
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2.1.2 Closed Loop
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2.2 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
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2.2.1 China
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2.2.2 South Korea
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2.2.3 India
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2.2.4 Japan
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2.2.5 Rest of Asia-Pacific
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Asia-Pacific Pumped Hydro Storage Market Size FAQs
How big is the Asia-Pacific Pumped Hydro Storage Market?
The Asia-Pacific Pumped Hydro Storage Market size is expected to reach 82 gigawatt in 2024 and grow at a CAGR of 4.70% to reach 103.10 gigawatt by 2029.
What is the current Asia-Pacific Pumped Hydro Storage Market size?
In 2024, the Asia-Pacific Pumped Hydro Storage Market size is expected to reach 82 gigawatt.
