Pumped Hydroelectric Storage Turbines Market Segments, Technology Overview, Growth Drivers, Regions, Demands, Top Players and Industry Forecast 2030

Research Reports

Nov 24, 2022

According to Market Research Future (MRFR), the global pumped hydroelectric storage turbines market is estimated to expand at 5.01% CAGR during the forecast period (2022-2030).

Pumped Hydroelectric Storage Turbines Market Overview

The pumped hydroelectric storage turbines market demonstrates significant growth potential. The rising demand for safe and reliable power supply would support the market growth over the years ahead. The rising demand for sustainable and secured energy supply and storage systems that can be connected to electric grids, gas pipelines, and transportation systems boosts the market size. Due to the growing climate change, sustainable power supply and robust energy storage solutions have become imperative. Besides, increasing renewable power generation creates substantial market opportunities.

The growing use of off-grid/ on-grid hydroelectric power in commercial and industrial applications increases market shares. Rising household installations of hydroelectric power systems and the growing trend of connected hydropower plants integrated into grids and grid-scale battery energy storage systems substantiate market shares.

The market witnesses increasing product standardization and research & innovation activities, ensuing large technology adoption over the next few years. Advances in hydrogen technologies escalate market sales. Additionally, the growing pressure to optimize energy conservation and reduce petroleum fuel consumption impacts market growth positively.

Augmenting demand for clean & reliable energy sources and the benefits that hydrogen energy storage can offer, like reduced carbon emissions and highly reliable power generation, increases the market value. The introduction of innovative technologies that can enhance safety &performance while declining component prices has exponentially increased the sales of pumped hydroelectric storage turbines.

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Pumped Hydroelectric Storage Turbines (PHS) Market – Segments

This market is segmented into types and regions. Of these, the type segment comprises pelton and francis turbines. The pelton turbine segment holds the largest market share, witnessing increasing applications in hydropower plants. Further, the region segment comprises the Asia-Pacific, MEA, Americas, Europe, and rest-of-the-world.

PHS Turbines Market – Regional Analysis

APAC dominates the global pumped hydroelectric storage turbines market. The region hosts the world’s largest consumer market and population base, increasing the demand, consumption, and generation of energy. Besides, the presence of many industry players in this region boosts market revenues.

Government initiatives to foster renewable energy and investments from rapidly growing economies in this region create substantial energy demand. Moreover, the abundant availability of natural resources, alongside vast seashores and rapid urbanization & industrialization, create significant demand for PHS turbines in the APAC region. India and China are major markets for pumped hydroelectric storage turbines.

Pumped Hydroelectric Storage Turbines Market – Competitive Landscape

Fiercely competitive, the PHS turbines market appears fragmented, with various notable players forming a competitive landscape. These players increasingly focus on product development and incorporate strategic approaches, such as collaboration, mergers & acquisitions, expansions, and product launches, to gain a larger competitive share. They make substantial investments to drive R&D to develop required technologies and expand.

Major Players

Top Active market players are,

  • Toshiba Corporation (Japan)
  • General Electric (US)
  • Voith GmbH & Co. KGaA (Germany)
  • Natel Energy (US)
  • NuStreem LLC (US)
  • GUGLER Water Turbines GmbH (Germany)
  • Mitsubishi Heavy Industries Ltd. (Japan) and Others.

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Industry/ Innovation/ Related News

Oct. 28, 2022 — Eesti Energia AS (Estonia), a leading public limited energy company, announced receiving government funds to develop Estonia’s first hydroelectric energy storage. The joint agency of KredEx and Enterprise Estonia allocated €584,950 for the construction of the 225MW pumped-storage hydroelectric power facility at the Estonia Mine site in Ida-Virumaa.

The pumped-storage hydroelectric power plant would help ensure the security and stability of power networks when started up. The pumped-storage hydroelectric power plant is planned to begin operations in 2026, and the analysis of the technical solution and the assessment of environmental effects will be completed by the beginning of 2023.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 13

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

1.1.1 GLOBAL PUMPED HYDROELECTRIC STORAGE TURBINES MARKET, BY TYPE 16

1.1.2 GLOBAL PUMPED HYDROELECTRIC STORAGE TURBINES MARKET, BY REGION 17

2 MARKET INTRODUCTION 20

2.1 DEFINITION 20

2.2 SCOPE OF THE STUDY 20

2.3 RESEARCH OBJECTIVE 20

2.4 MARKET STRUCTURE 21

2.5 KEY BUYING CRITERIA 21

3 RESEARCH METHODOLOGY 22

3.1 RESEARCH PROCESS 22

3.2 PRIMARY RESEARCH 23

3.3 SECONDARY RESEARCH 24

3.4 MARKET SIZE ESTIMATION 25

3.5 FORECAST MODEL 26

3.6 LIST OF ASSUMPTIONS 27

4 MARKET INSIGHTS 28

5 MARKET DYNAMICS 32

5.1 INTRODUCTION 32

5.2 DRIVERS 34

5.2.1 INCREASED DEMAND FOR SUSTAINAIBLE ENERGY IN POWER GENERATION MIX………………………………………………………………………………………………………………34

5.2.2 RISING ELECTRICITY DEMAND 35

5.3 RESTRAINT 35

5.3.1 HIGH CAPITAL COST& OPERATIONAL REQUIREMENTS 35

5.4 OPPORTUNITIES 36

5.4.1 HYBRID AND SYMBIOTIC CONCEPTS 36

5.5 IMPACT ANALYSIS OF COVID-19 36

5.5.1 IMPACT ON ENERGY & POWER INDUSTRY 36

5.5.2 ECONOMIC IMPACT 36

5.5.3 IMPACT ON VALUE CHAIN OF THE GLOBAL PUMPED HYDROELECTRICTY STORAGE TURBINES MARKET 37

5.5.3.1 PRICE VARIATION OF KEY RAW MATERIALS 37

5.5.3.2 AVAILABILITY OF LABOR 37

5.5.3.3 IMPACT ON PRICING OF PUMPED HYDROELECTRICTY STORAGE TURBINES PRODUCT AND TYPES 38

6 MARKET FACTOR ANALYSIS 39

6.1 SUPPLY CHAIN ANALYSIS 39

6.1.2 RAW MATERIAL SUPPLY 40

6.1.3 MANUFACTURING 40

6.1.4 DISTRIBUTION & INSTALLATION 40

6.1.5 TESTING, INSPECTION, & MONITORING 40

…Continued.

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