Hydro-Pumped Storage Plants Market Global Market Opportunity Assessme Nov 2016 | Page 2

REPORT DESCRIPTION

Global Hydro-pumped Storage Plants Market: Overview
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.
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.
Complete Report with TOC : http://www.transparencymarketresearch.com/hydro-pumped-storage-plantsmarket.html
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.