The increasing demand for energy storage systems and the emergence of ancillary services are two of the primary driving factors of the market.
Albany, NY -- (SBWIRE) -- 02/15/2017 -- Global Pumped-Storage Hydroelectricity Market: Inclusive Insight
Pumped-storage hydroelectric (PSH) refers to a system of hydroelectric energy storage, which is utilized by the power industry for peak saving and load balancing. In this system, water is transferred from a lower elevation to a reservoir at higher elevation, and stored. Low cost off-peak electric power is used for this transfer, whereas during the peak demand, the stored water is utilized to run turbines and generate energy. As the cost of electric energy fluctuates, these pumped-storage hydroelectricity systems generated electricity is sold at premium prices and thereby balancing the load on conventional energy sources.
Request a Brochure of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=227
Pumped storage hydropower plants can be exploited better when used alongside wind energy turbines. The wind turbines pump water back into the reservoir during lean demand times thus resulting in better utilization of excess generation. Pumped storage hydro is capable of supplying a large number of ancillary services ranging from load balancing to voltage control. These plants can also serve as ideal spinning reserves and are useful for black start services to utility grids. Overall, these plants are an integral part of any robust energy generation mix and satisfy the requirement of ample backup power in times of grid failures or other supply related emergencies.
With the ever escalating demand for electric energy, the global market for pumped-storage hydroelectricity is projected for a healthy growth rate during the forecast period of 2017 to 2025. This report is a comprehensive analysis of the market for the same in current scenario, and based on several prominent factors that are expected to influence the growth rate, it presents figurative opportunities available. The report also profiles some of the key companies currently operational in the global pumped-storage hydroelectricity market, including their market share and strategic developments. By technology, the market can be segmented into single reversible pump turbine and separate pump and turbine generators. The end use application of pumped storage hydroelectricity can be segmented on the basis of the service they provide. Some of the services provided by pumped storage hydro are energy balancing, stability, storage capacity and ancillary grid services.
Request for TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=227
Global Pumped-Storage Hydroelectricity Market: Prospects and Inhibitors
The increasing demand for energy storage systems and the emergence of ancillary services are two of the primary driving factors of the market. In the recent times, increased importance has been given to stable form of energy, and technological advancements has made pumped-storage hydroelectricity serve the demand efficiently. Other factors favoring the global pumped-storage hydroelectricity market include the need for alternative energy sources with black start capabilities, reactive power generation, and the assurance to operate as a spinning reserve. Conversely, the availability of large bodies of water along with a height variation between the two reservoirs are noted by the report as two primary restraining factors over the market. However, this barrier can be overcome via man-made alterations to the topography, which also helps in desired size and height measurements.
Read Complete Report @ https://www.tmrresearch.com/pumped-storage-hydroelectricity-market
Global Pumped-Storage Hydroelectricity Market: Prospects and Inhibitors
Europe currently serves the maximum demand, especially from the country-wide markets of the U.K., Switzerland, Austria, and Italy. Asia Pacific market is driven by Japan while the U.S. contributes nearly 95% of the demand from the North American region.
Alstom, First Hydro, Exelon, Voith and J-Power are some of the key players in this market.
About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.