The latest research study “India Pumped Hydro Storage Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India pumped hydro storage market is expected to exhibit a CAGR of 10.25% during 2022-2027.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Pumped hydro storage (PHS) refers to a hydroelectric energy repository used for load balancing in electric power systems. It is a configuration of two water reservoirs at several elevations that can yield power as water moves down from one to the other (discharge), passing via a turbine. Pumped hydro storage plants provide various benefits, such as frequency regulation, load balancing, backup reserve, peak shaving, black start capability, etc. They also offer fast ramping up/down and peak/off-peak balancing support, owing to their inherent flexibility. As a result, pumped hydro storage finds widespread applications as an ideal supplier of contingency and regulation reserve ancillary assistance, thereby assisting in managing renewable energy grid integration.
India Pumped Hydro Storage Market Trends and Drivers:
The elevating requirement for load management of grid networks during peak hours to keep the grid frequency within the band directed is primarily driving the India pumped hydro storage market. Besides this, the launch of several policies by the government bodies to support the flood moderation component of hydroelectric projects and provide tariff rationalization measures to bring down hydropower taxes is further augmenting the market growth. Moreover, the growing popularity of closed loop pumped hydro storage systems, on account of their minimal environmental impact across natural habitats, is also catalyzing the market across India. Apart from this, the development of clean power repository systems and the introduction of energy-efficiency reforms are acting as significant growth-inducing factors. Additionally, the rising focus on electrification of remote areas and the continuous expansion of smart grid infrastructures are also stimulating the market growth. Furthermore, the inflating refurbishment of end-of-life dams and the increasing installation of PHS in existing water hold barriers are expected to bolster the India pumped hydro storage market in the coming years.
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India Pumped Hydro Storage Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of type and sources.
Breakup by Type:
- Open-Loop
- Closed-Loop
Breakup by Sources:
- Natural Reservoirs
- Man-Made Reservoirs
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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