Market Size of South America Pumped Hydro Storage Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 1 gigawatt |
| Market Volume (2029) | 1.30 gigawatt |
| CAGR (2024 - 2029) | 5.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Pumped Hydro Storage Market Analysis
The South America Pumped Hydro Storage Market size in terms of installed base is expected to grow from 1 gigawatt in 2024 to 1.30 gigawatt by 2029, at a CAGR of 5.40% during the forecast period (2024-2029).
- Over the long term, increasing government targets to integrate renewable energy coupled with significant hydropower potential is likely to drive the pump hydro storage market’s growth during the forecast period.
- On the other hand, penetration of other energy storage techniques is expected to hamper the growth of the South American pump hydro storage market during the forecast period.
- Nevertheless, an increase in technological advancements is likely to create lucrative growth opportunities for the South American pump hydro storage market during the forecast period.
- Argentina is expected to dominate the market due to its large population, increasing electricity demand, and a higher number of power outages, which are expected to propel the need for pump hydro storage during the forecast period.
South America Pumped Hydro Storage Industry Segmentation
Pumped storage hydrostorage is a type of hydroelectric energy storage. It combines two water reservoirs at different elevations that can generate power as water moves down from one to the other (discharge), passing through a turbine.
The South American pumped storage hydro market is segmented by type and geography. The type is segmented into open-loop and closed-loop. The report also covers the market size and forecasts for the South American pumped hydro storage market across the major regions. For each segment, market sizing and forecasts were made based on installed capacity.
| By Type | |
| Open-loop | |
| Closed-loop |
| By Geography | |
| Brazil | |
| Argentina | |
| Colombia | |
| Rest of South America |
South America Pumped Hydro Storage Market Size Summary
The South American pumped hydro storage market is poised for growth, driven by the region's abundant hydropower potential and increasing government targets to integrate renewable energy. The market is expected to expand as countries like Argentina leverage their vast water resources to develop pump hydro storage projects, which are seen as crucial for enhancing energy storage capabilities and supporting the transition to sustainable energy systems. Despite the competition from other energy storage technologies, advancements in pump hydro storage technology are anticipated to create significant opportunities for market expansion. Argentina is expected to lead the market due to its large population, rising electricity demand, and frequent power outages, which necessitate reliable energy storage solutions.
The closed-loop pump hydro storage systems are anticipated to dominate the market, supported by strategic factors such as the region's commitment to renewable energy and the need for grid stability. These systems offer an efficient means of harnessing and storing energy, aligning with South America's sustainable energy goals. The regulatory landscape, with supportive policies and incentives, further bolsters the growth of closed-loop systems, making them an attractive investment. Argentina's focus on diversifying its energy mix and reducing fossil fuel dependency underscores the importance of pump hydro storage in achieving a resilient energy infrastructure. The country's ongoing projects and government initiatives are expected to drive significant growth in the market during the forecast period.
South America Pumped Hydro Storage Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Pumped Hydro Storage Installed Capacity and Forecast, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Growing Emphasis on Renewable Energy Integration
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1.5.1.2 Significant Hydropower Potential
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1.5.2 Restraints
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1.5.2.1 Competition From Other Energy Storage Technologies
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Open-loop
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2.1.2 Closed-loop
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2.2 By Geography
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2.2.1 Brazil
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2.2.2 Argentina
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2.2.3 Colombia
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2.2.4 Rest of South America
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South America Pumped Hydro Storage Market Size FAQs
How big is the South America Pumped Hydro Storage Market?
The South America Pumped Hydro Storage Market size is expected to reach 1 gigawatt in 2024 and grow at a CAGR of 5.40% to reach 1.30 gigawatt by 2029.
What is the current South America Pumped Hydro Storage Market size?
In 2024, the South America Pumped Hydro Storage Market size is expected to reach 1 gigawatt.
