Strategic Overview of the Hydro-Pumped Storage Plants Market
The
ever-increasing global population and the limited availability of
non-renewable energy resources make it mandatory to conserve as much
energy as possible and use it efficiently. Hydro-pumped storage
plants are used by the power industry for the purposes of peak
shaving and load balancing. These facilities store energy in the form
of water in an upper reservoir, pumped from another reservoir at a
lower elevation. This enables the generation of power as and when
required as well as conserve it during low demand intervals.
Read
Report Overview @
The
players in the market for hydro-pumped storage plants generate
maximum revenue from the sale of power during peak loads at a premium
cost, thereby balancing the load on conventional energy sources. The
report observes that hydro-pumped storage plants can be harnessed
better when used alongside wind energy turbines. These wind turbines
pump water back into the reservoir during lean demand, resulting in
the better utilization of excess generation. According to the report,
the global market for hydro-pumped storage plants is to expand at a
healthy CAGR during the forecast period of 2014 to 2020.
Based
on technology, the global market for hydro-pumped storage can be
segmented into single reversible pump turbines and separate pump and
turbine generators. Recent developments in this sector are giving
rise to a few new technologies such as micro hydro-pumped storage
plants, seawater hydro-pumped storage plants, and underground
hydro-pumped storage plants. By application, this market can be
segmented on the basis of the service they provide, such as energy
balancing, stability, storage capacity, and ancillary grid services.
Global
Hydro-pumped Storage Plants Market: Trends and Opportunities
The
report finds that the increasing demand for energy storage systems
and the emergence of ancillary services are two of the primary
factors that are driving the global market for hydro-pumped storage
plants. It has also been noted that hydro-pumped storage is gaining
traction because of the increased importance of grid stability, along
with the need for load balancing and energy storage. Moreover, the
requirement of alternative energy sources with black start
capability, reactive power generation, and an ability to operate as a
spinning reserve are other factors that augur well for the future of
this market during the forecast period.
Conversely,
the most prominent restraint on the hydro-pumped storage plants
market, according to the report, is the requirement of large bodies
of water wherever these plants are set up. Additionally, not all
locations are ideal for the height variation that is required between
two reservoirs for the proper functioning of hydro-pumped storage
plants. However, the report finds that the requirement of height
variations can be easily overcome via manmade alterations to the
topography, which results in a desired size and height measurement.
As the pressure mounts on electrical grids globally to cater to the
ever-growing demand for energy, the demand for ancillary services is
increasing.
Request
to view Sample Report:
Global
Hydro-pumped Storage Plants Market: Region-wise Outlook
The
earliest development of hydro-pumped storage plants occurred in the
central European region, especially in the U.K., Austria, Italy, and
Switzerland. As a result, Europe served as the most prominent market
for these energy storage plants in 2012, followed by Asia Pacific and
North America. The report rates Japan as a significant market for
hydro-pumped storage in Asia Pacific region while the U.S. accounted
for over 95% of the installed pumped storage hydro generating
capacity in 2012, with Canada occupying the remaining. Africa is
rated as a relatively nascent market but a few countries in these
regions are showing promising potential for the future.
Companies
Mentioned in the Research Report
Some
of the prominent players in the global market for hydro-pumped
storage plants are Alstom, First Hydro, Exelon, Voith, and J-Power.
To present a thorough evaluation of the competitive landscape, the
report provides vital details of these players such as production,
capacity, price, cost, gross, and segmented revenue.
Comments
Post a Comment