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Pumped Hydro Storage Market Size
- Report ID: GMI2019
- Published Date: Jun 2024
- Report Format: PDF
Pumped Hydro Storage Market Size
Pumped Hydro Storage Market was valued at USD 349 billion in 2023 and is set to grow at a CAGR of 11.8% from 2024 to 2032. Increasing renewable energy integration coupled with surging need for reliable energy storage solutions will foster the industry landscape. Continuous innovation in design, advanced control systems, materials are the key factors improving the efficiency and lifespan of PHS, thereby stimulating the business potential.
A pumped hydro storage is a type of hydroelectric energy storage system used to balance supply and demand in power grids. Growing efforts to minimize the carbon emission along with utilization of clean energy technologies will further escalate the demand for these energy storage systems. Burgeoning investments in modernization of existing grid into smart grids in conjunction with rising demand for energy security across emerging markets will complement the adoption of these storage systems.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Pumped Hydro Storage Market Size in 2023: | USD 349 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 11.8% |
| 2032 Value Projection: | USD 951.6 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 29 |
| Segments covered: | System Type and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Pumped Hydro Storage Market Scope
