Pumped Hydro Storage Market Size

Pumped Hydro Storage Market size was valued at USD 401.01 billion in 2024 and is expected to reach USD 1.4 trillion by 2037, registering around 10.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of pumped hydro storage is assessed at USD 433.41 billion.

The reason behind the growth is impelled by the rising initiatives to increase the pumped hydro storage capacity. For instance, The National Energy Administration (NEA) of China announced a mid-term and long-term plan for pumped storage development from 2021 to 2035. According to this proposal, installed pumped storage hydropower capacity in China would be at least 62 GW in 2025, and over 120 GW in 2030. China's existing pumped storage capacity is expected to reach 50 GW by the end of November 2022.

The growing technological developments are believed to fuel the market growth. For instance, an alternate strategy to the traditional pumped-storage hydropower development is being used by Quidnet Energy which is investing in a cutting-edge geo-mechanical pumped-storage (GPS) system that uses wells and other subterranean man-made or natural features for energy storage purposes.