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市场调查报告书
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1889461

抽水蓄能水力发电市场预测至2032年：按类型、容量、应用、最终用户和地区分類的全球分析

Pumped Hydro Storage Market Forecasts to 2032 - Global Analysis By Type (Open-loop, and Closed-loop), Capacity (Small-Scale (Less than 100 MW), Medium-Scale (100 MW to 500 MW), and Large-Scale (More than 500 MW)), Application, End User, and By Geography
出版日期: | 出版商: Stratistics Market Research Consulting | 英文 | 商品交期: 2-3个工作天内

价格

根据 Stratistics MRC 的研究，预计到 2025 年，全球抽水蓄能水力发电市场价值将达到 590 亿美元，到 2032 年将达到 1,442 亿美元。

预计在预测期内，抽水蓄能水力发电厂的复合年增长率将达到13.6%。抽水蓄能水力发电厂是指在电力充沛时将水抽入上游水库，并在用电高峰期透过水轮机释放水力发电的大型设施。这涉及场地开发、土木工程、水轮机、发电机和併网等环节。其优势包括长期、低成本的储能、电网稳定、频率调节，以及透过在数小时至数天的时间段内平衡供需，支持高比例的间歇性可再生能源。

根据国际能源总署 (IEA) 和水力发电管理机构的数据，抽水蓄能 (PSH) 是世界上最大的公用事业规模储能技术，全球整体装置容量约为 160-200 吉瓦 (GW)。

政府支持和政策

政策制定者正透过慷慨的财政奖励、可再生能源强制规定和长期收入稳定机制来降低投资风险并创造有利的经济环境。此外，国家电网稳定和能源安全战略明确将抽水蓄能作为整合风能和太阳能等间歇性可再生的基础。这种自上而下的支持释放了大量资金，对于确保该技术在能源转型中发挥核心作用至关重要，并直接加速了全球市场发展和计划运作。

高昂的资本成本和较长的前置作业时间

抽水蓄能电站（PHS）计划前期投资高且开发週期长，是限制市场成长的重大障碍。这些计划需要大规模的土木工程、专用设备以及漫长的环境审批流程，从规划到运作往往需要十多年时间。这种资本密集且耗时的过程抑制了私人投资，尤其与电池储能等部署速度更快的替代方案相比更是如此。因此，儘管市场对这项技术有着明显的长期需求，但如此高的进入门槛限制了新计画的数量，并减缓了市场整体扩张的速度。

现有水坝的现代化改造

对非发电水坝维修以增加抽水蓄能能力，为市场成长提供了巨大的机会。透过利用现有基础设施和预先已通过核准的水权，这种方法可以规避许多传统限制，并显着降低资本成本和开发前置作业时间。此外，与新建计划相比，它提供了一种以更低环境影响增加大规模电网级储能容量的途径。这项机会能够有效扩展储能资产，并为公用事业公司和政府增强电网韧性提供了一种极具吸引力且经济高效的策略。

气候变迁的影响

日益加剧的干旱可能导致水库水位大幅下降，严重影响电厂在用电高峰期的运作能力。反之，极端洪水可能破坏关键基础设施，威胁水坝安全。这些与气候相关的脆弱性显着增加了运作的不确定性和财务风险，可能损害新投资的长期可行性，并使人们对抽水蓄能电站作为电力系统可靠性不可动摇的基础这一认知产生质疑。

新冠疫情的影响：

疫情对抽水蓄能市场造成了严重衝击，导致计划进度大幅延误。全国范围内的封锁和保持社交距离的措施使建设活动停滞，并扰乱了涡轮机和变压器等关键部件的复杂全球供应链。这导致全球多个大型计划成本大幅超支，并推迟了运作日期。然而，这场危机也凸显了长时储能对电网韧性的重要性，并使抽水蓄能作为一项战略性基础设施资产，重新成为各国政府经济復苏计画的关注焦点。

预计在预测期内，开放回路方法将占据最大的市场份额。

由于开放回路系统拥有卓越的发电能力，且单位兆瓦成本通常低于闭环系统，预计在预测期内，闭合迴路系统将占据最大的市场份额。这些计划通常与自由流动的河流或现有水库相连，受益于现有的水文研究，并可利用现有水体，从而简化规划并降低初始资本支出。成熟的技术和吉瓦级的大容量储能能力巩固了其市场主导地位，使其成为大规模电网稳定和公用事业规模可再生能源发电电站併网的首选解决方案。

预计在预测期内，小规模（小于100兆瓦）电力市场将实现最高的复合年增长率。

由于其柔软性以及较低的财务和环境门槛，预计小规模（<100兆瓦）专案在预测期内将实现最高成长率。这些计划面积小，监管审查相对宽鬆，开发週期也显着缩短，因此对私人投资极具吸引力，并能有效缓解当地电网的瓶颈。此外，它们非常适合服务偏远地区的微电网，提高特定区域的电网稳定性，并支援分散式可再生能源的併网，从而推动这一细分市场快速扩张并实现高成长率。

占比最大的地区：

预计亚太地区将在预测期内占据最大的市场份额，这主要得益于中国和印度的大规模投资。两国的国家能源安全政策和雄心勃勃的可再生能源目标正在推动大型抽水蓄能电站（PHS）计划的发展。该地区经济的快速成长、电力需求的不断攀升，以及应对新增风能和太阳能发电容量间歇性的迫切需求，都催生了对大规模储能的空前需求，从而巩固了亚太地区在可预见的未来全球抽水蓄能电站市场的领先地位。

年复合成长率最高的地区：

预计亚太地区在预测期内将实现最高的复合年增长率，这主要得益于新兴经济体持续推出的雄心勃勃的政府计划和扶持政策。印度、澳洲和东南亚多个国家正处于抽水蓄能电站发展週期的早期至中期阶段，新计画公告和开工建设层出不穷。这将带来一波新增产能，推动其成长速度超过那些拥有更大现有产能的成熟市场。

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目录

第一章执行摘要

第二章 前言

  • 摘要
  • 相关利益者
  • 调查范围
  • 调查方法
  • 研究材料

第三章 市场趋势分析

  • 司机
  • 抑制因素
  • 机会
  • 威胁
  • 应用分析
  • 终端用户分析
  • 新兴市场
  • 新冠疫情的感染疾病

第四章 波特五力分析

  • 供应商的议价能力
  • 买方的议价能力
  • 替代品的威胁
  • 新进入者的威胁
  • 竞争对手之间的竞争

第五章 全球抽水蓄能水力发电市场（按类型划分）

  • 开放回路
  • 闭合迴路

6. 全球抽水蓄能水力发电市场（以容量计）

  • 小规模（小于100兆瓦）
  • 中型（100兆瓦至500兆瓦）
  • 大型（超过500兆瓦）

7. 全球抽水蓄能水力发电市场（依应用领域划分）

  • 能源平衡调整
  • 频率调节
  • 季节性存储
  • 稳定可再生能源产能
  • 骇启动服务
  • 其他用途

8. 全球抽水蓄能水力发电市场（依最终用户划分）

  • 公共产业和独立发电商（IPP）
  • 系统操作员

9. 全球抽水蓄能水力发电市场（依地区划分）

  • 北美洲
    • 美国
    • 加拿大
    • 墨西哥
  • 欧洲
    • 德国
    • 英国
    • 义大利
    • 法国
    • 西班牙
    • 其他欧洲
  • 亚太地区
    • 日本
    • 中国
    • 印度
    • 澳洲
    • 纽西兰
    • 韩国
    • 亚太其他地区
  • 南美洲
    • 阿根廷
    • 巴西
    • 智利
    • 其他南美国家
  • 中东和非洲
    • 沙乌地阿拉伯
    • 阿拉伯聯合大公国
    • 卡达
    • 南非
    • 其他中东和非洲地区

第十章：重大进展

  • 协议、伙伴关係、合作和合资企业
  • 併购
  • 新产品发布
  • 业务拓展
  • 其他关键策略

第十一章 企业概况

  • Voith GmbH &Co. KGaA
  • ANDRITZ AG
  • Siemens AG
  • General Electric Company
  • Enel SpA
  • Electricite de France SA
  • Iberdrola SA
  • NextEra Energy, Inc.
  • Duke Energy Corporation
  • Mitsubishi Heavy Industries, Ltd.
  • Toshiba Energy Systems &Solutions Corporation
  • China Three Gorges Corporation
  • Power Construction Corporation of China
  • PJSC RusHydro
  • Engie SA
  • Black &Veatch Corporation
  • Fluor Corporation
  • Sinohydro Corporation Limited
  • Tata Power Company Limited
  • Genex Power Limited
Product Code: SMRC32815

According to Stratistics MRC, the Global Pumped Hydro Storage Market is accounted for $59.0 billion in 2025 and is expected to reach $144.2 billion by 2032, growing at a CAGR of 13.6% during the forecast period. The pumped hydro storage covers large-scale facilities that pump water to an upper reservoir when electricity is abundant and release it through turbines to generate power during peak demand. It involves site development, civil works, turbines, generators, and grid integration. Benefits include long-duration, cost-effective energy storage, grid stability, frequency regulation, and support for high shares of intermittent renewables by balancing supply and demand over hours or days.

According to the IEA and hydropower authorities, pumped-storage hydropower (PSH) is the world's largest utility-scale storage technology with roughly 160-200 GW of installed capacity globally.

Market Dynamics:

Driver:

Government Support & Policies

Through substantial financial incentives, renewable energy mandates, and long-term revenue stabilization mechanisms, policymakers are de-risking investments and creating a favorable economic landscape. Furthermore, national strategies targeting grid stability and energy security are explicitly prioritizing PHS as a cornerstone for integrating intermittent renewables like wind and solar. This top-down support is crucial for unlocking the massive capital required and ensuring the technology's central role in the energy transition, directly accelerating market development and project commissioning globally.

Restraint:

High Capital Cost & Long Lead Times

The significant upfront investment and protracted development cycles for PHS projects present a major barrier to market growth. These projects require extensive civil works, specialized equipment, and lengthy environmental approvals, often spanning over a decade from planning to operation. Such a capital-intensive and time-consuming process deters private investment, especially when compared to faster-deploying alternatives like battery storage. Consequently, this high barrier to entry limits the number of new projects initiated, restraining the overall pace of market expansion despite the clear long-term need for the technology.

Opportunity:

Modernization of Existing Dams

Retrofitting non-powered dams with PHS capabilities presents a significant opportunity for market growth. This approach bypasses many of the traditional restraints by utilizing existing infrastructure and pre-approved water rights, dramatically reducing both capital costs and development lead times. Moreover, it offers a path to add significant grid-scale storage capacity with a lower environmental footprint than greenfield projects. This opportunity allows for a more efficient expansion of energy storage assets, providing a compelling and cost-effective strategy for utilities and governments to bolster grid resilience.

Threat:

Climate Change Impacts

Intensified droughts can drastically reduce water reservoir levels, crippling a plant's ability to generate power when it is most needed. Conversely, extreme flooding events can damage critical infrastructure and threaten dam safety. These climate vulnerabilities introduce significant operational uncertainty and financial risk, potentially undermining the long-term business case for new investments and challenging the perceived role of PHS as an unwavering bedrock of grid reliability.

Covid-19 Impact:

The pandemic severely disrupted the pumped hydro storage market, causing extensive delays in project timelines. Nationwide lockdowns and social distancing mandates halted construction activity and disrupted complex global supply chains for critical components like turbines and transformers. This led to significant cost overruns and postponed commissioning dates for major projects worldwide. However, the crisis also underscored the indispensable value of long-duration energy storage for grid resilience, leading to a renewed governmental focus on PHS in economic recovery packages as a strategic infrastructure asset.

The open-loop segment is expected to be the largest during the forecast period

The open-loop segment is expected to account for the largest market share during the forecast period due to its superior energy generation capacity and generally lower specific cost per megawatt compared to closed-loop systems. These projects, often connected to naturally flowing rivers or existing reservoirs, benefit from existing hydrological studies and can leverage pre-existing water bodies, which simplifies planning and reduces initial capital outlay. Their proven technology and ability to provide massive, gigawatt-scale storage make them the preferred solution for large-scale grid stabilization and integrating utility-scale renewable energy farms, securing their leading market position.

The small-scale (Less than 100 MW) segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the small-scale (less than 100 MW) segment is predicted to witness the highest growth rate due to its flexibility and reduced financial and environmental hurdles. These projects require a smaller land footprint, face less stringent regulatory scrutiny, and have significantly shorter development cycles, making them attractive for private investment and for addressing localized grid constraints. Additionally, they are ideal for servicing remote microgrids, enhancing grid stability in specific regions, and supporting the integration of distributed renewable resources, a market niche that is expanding quickly and driving high growth rates.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share, anchored by massive investments in China and India, where national energy security policies and ambitious renewable energy targets are driving the development of colossal PHS projects. The region's rapid economic growth, escalating electricity demand, and urgent need to manage the intermittency of its vast new wind and solar capacity create an unparalleled demand for bulk energy storage, solidifying Asia Pacific's position as the global PHS market leader for the foreseeable future.

Region with highest CAGR:

During the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR, fueled by the ongoing rollout of ambitious government plans and supportive policies across emerging economies. Countries like India, Australia, and several in Southeast Asia are in the early to mid-stages of their PHS development cycles, leading to a flurry of new project announcements and construction starts. This represents a wave of new capacity additions that will drive a growth rate exceeding that of more mature markets, which have a larger established base.

Key players in the market

Some of the key players in Pumped Hydro Storage Market include Voith GmbH & Co. KGaA, ANDRITZ AG, Siemens AG, General Electric Company, Enel SpA, Electricite de France SA, Iberdrola SA, NextEra Energy, Inc., Duke Energy Corporation, Mitsubishi Heavy Industries, Ltd., Toshiba Energy Systems & Solutions Corporation, China Three Gorges Corporation, Power Construction Corporation of China, PJSC RusHydro, Engie SA, Black & Veatch Corporation, Fluor Corporation, Sinohydro Corporation Limited, Tata Power Company Limited, and Genex Power Limited.

Key Developments:

In September 2025, International technology group ANDRITZ has received an order from Adani Green Energy Limited (AGEL), India's largest renewable energy company and a leading global player, to equip the new Gandikota pumped storage plant in the YSR Kadapa district of Andhra Pradesh, India.

In September 2025, ANDRITZ announced an order to supply reversible pump-turbines, motor-generators and related electromechanical equipment for the new Gandikota pumped storage plant in Andhra Pradesh.

In April 2023, Voith Hydro wins order to expand Kruonis pumped storage plant in Lithuania. To offset the volatility of these energy sources, the partially state-owned Ignitis Group company Ignitis Gamyba is investing around EUR 150 million in the expansion of the Kruonis pumped storage hydropower facility, where an additional, fifth unit will be installed.

Types Covered:

  • Open-loop
  • Closed-loop

Capacities Covered:

  • Small-Scale (Less than 100 MW)
  • Medium-Scale (100 MW to 500 MW)
  • Large-Scale (More than 500 MW)

Applications Covered:

  • Energy Balancing
  • Frequency Regulation
  • Seasonal Storage
  • Renewable Capacity Firming
  • Black Start Services
  • Other Applications

End Users Covered:

  • Utilities and Independent Power Producers (IPPs)
  • System Operators

Regions Covered:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia Pacific
  • South America
    • Argentina
    • Brazil
    • Chile
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

What our report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

  • Company Profiling
    • Comprehensive profiling of additional market players (up to 3)
    • SWOT Analysis of key players (up to 3)
  • Regional Segmentation
    • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
  • Competitive Benchmarking
    • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

  • 2.1 Abstract
  • 2.2 Stake Holders
  • 2.3 Research Scope
  • 2.4 Research Methodology
    • 2.4.1 Data Mining
    • 2.4.2 Data Analysis
    • 2.4.3 Data Validation
    • 2.4.4 Research Approach
  • 2.5 Research Sources
    • 2.5.1 Primary Research Sources
    • 2.5.2 Secondary Research Sources
    • 2.5.3 Assumptions

3 Market Trend Analysis

  • 3.1 Introduction
  • 3.2 Drivers
  • 3.3 Restraints
  • 3.4 Opportunities
  • 3.5 Threats
  • 3.6 Application Analysis
  • 3.7 End User Analysis
  • 3.8 Emerging Markets
  • 3.9 Impact of Covid-19

4 Porters Five Force Analysis

  • 4.1 Bargaining power of suppliers
  • 4.2 Bargaining power of buyers
  • 4.3 Threat of substitutes
  • 4.4 Threat of new entrants
  • 4.5 Competitive rivalry

5 Global Pumped Hydro Storage Market, By Type

  • 5.1 Introduction
  • 5.2 Open-loop
  • 5.3 Closed-loop

6 Global Pumped Hydro Storage Market, By Capacity

  • 6.1 Introduction
  • 6.2 Small-Scale (Less than 100 MW)
  • 6.3 Medium-Scale (100 MW to 500 MW)
  • 6.4 Large-Scale (More than 500 MW)

7 Global Pumped Hydro Storage Market, By Application

  • 7.1 Introduction
  • 7.2 Energy Balancing
  • 7.3 Frequency Regulation
  • 7.4 Seasonal Storage
  • 7.5 Renewable Capacity Firming
  • 7.6 Black Start Services
  • 7.7 Other Applications

8 Global Pumped Hydro Storage Market, By End User

  • 8.1 Introduction
  • 8.2 Utilities and Independent Power Producers (IPPs)
  • 8.3 System Operators

9 Global Pumped Hydro Storage Market, By Geography

  • 9.1 Introduction
  • 9.2 North America
    • 9.2.1 US
    • 9.2.2 Canada
    • 9.2.3 Mexico
  • 9.3 Europe
    • 9.3.1 Germany
    • 9.3.2 UK
    • 9.3.3 Italy
    • 9.3.4 France
    • 9.3.5 Spain
    • 9.3.6 Rest of Europe
  • 9.4 Asia Pacific
    • 9.4.1 Japan
    • 9.4.2 China
    • 9.4.3 India
    • 9.4.4 Australia
    • 9.4.5 New Zealand
    • 9.4.6 South Korea
    • 9.4.7 Rest of Asia Pacific
  • 9.5 South America
    • 9.5.1 Argentina
    • 9.5.2 Brazil
    • 9.5.3 Chile
    • 9.5.4 Rest of South America
  • 9.6 Middle East & Africa
    • 9.6.1 Saudi Arabia
    • 9.6.2 UAE
    • 9.6.3 Qatar
    • 9.6.4 South Africa
    • 9.6.5 Rest of Middle East & Africa

10 Key Developments

  • 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
  • 10.2 Acquisitions & Mergers
  • 10.3 New Product Launch
  • 10.4 Expansions
  • 10.5 Other Key Strategies

11 Company Profiling

  • 11.1 Voith GmbH & Co. KGaA
  • 11.2 ANDRITZ AG
  • 11.3 Siemens AG
  • 11.4 General Electric Company
  • 11.5 Enel SpA
  • 11.6 Electricite de France SA
  • 11.7 Iberdrola SA
  • 11.8 NextEra Energy, Inc.
  • 11.9 Duke Energy Corporation
  • 11.10 Mitsubishi Heavy Industries, Ltd.
  • 11.11 Toshiba Energy Systems & Solutions Corporation
  • 11.12 China Three Gorges Corporation
  • 11.13 Power Construction Corporation of China
  • 11.14 PJSC RusHydro
  • 11.15 Engie SA
  • 11.16 Black & Veatch Corporation
  • 11.17 Fluor Corporation
  • 11.18 Sinohydro Corporation Limited
  • 11.19 Tata Power Company Limited
  • 11.20 Genex Power Limited

List of Tables

  • Table 1 Global Pumped Hydro Storage Market Outlook, By Region (2024-2032) ($MN)
  • Table 2 Global Pumped Hydro Storage Market Outlook, By Type (2024-2032) ($MN)
  • Table 3 Global Pumped Hydro Storage Market Outlook, By Open-loop (2024-2032) ($MN)
  • Table 4 Global Pumped Hydro Storage Market Outlook, By Closed-loop (2024-2032) ($MN)
  • Table 5 Global Pumped Hydro Storage Market Outlook, By Capacity (2024-2032) ($MN)
  • Table 6 Global Pumped Hydro Storage Market Outlook, By Small-Scale (Less than 100 MW) (2024-2032) ($MN)
  • Table 7 Global Pumped Hydro Storage Market Outlook, By Medium-Scale (100 MW to 500 MW) (2024-2032) ($MN)
  • Table 8 Global Pumped Hydro Storage Market Outlook, By Large-Scale (More than 500 MW) (2024-2032) ($MN)
  • Table 9 Global Pumped Hydro Storage Market Outlook, By Application (2024-2032) ($MN)
  • Table 10 Global Pumped Hydro Storage Market Outlook, By Energy Balancing (2024-2032) ($MN)
  • Table 11 Global Pumped Hydro Storage Market Outlook, By Frequency Regulation (2024-2032) ($MN)
  • Table 12 Global Pumped Hydro Storage Market Outlook, By Seasonal Storage (2024-2032) ($MN)
  • Table 13 Global Pumped Hydro Storage Market Outlook, By Renewable Capacity Firming (2024-2032) ($MN)
  • Table 14 Global Pumped Hydro Storage Market Outlook, By Black Start Services (2024-2032) ($MN)
  • Table 15 Global Pumped Hydro Storage Market Outlook, By Other Applications (2024-2032) ($MN)
  • Table 16 Global Pumped Hydro Storage Market Outlook, By End User (2024-2032) ($MN)
  • Table 17 Global Pumped Hydro Storage Market Outlook, By Utilities and Independent Power Producers (IPPs) (2024-2032) ($MN)
  • Table 18 Global Pumped Hydro Storage Market Outlook, By System Operators (2024-2032) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.