North asia port louis pumped storage

Will Asia be the largest pumped hydropower storage market by 2023?

Asia is expected to be the largest pumped hydropower storage market by 2023. As countries around the world strive to fully realise their energy transition by ramping up renewable energy capacity, another critical component is gaining traction: pumped hydropower storage.

Which country has the most pumped storage capacity?

China is the top-ranked country in terms of oper-ating PSH capacity with 50.7 GW, holding 30% of the world’s total. This is roughly equivalent to the combined PSH capacity of all European countries. China’s current share of global prospective capacity exceeds 80%, making it the primary country for the development of the pumped storage industry.

What will Asia's pumped hydropower capacity look like in 2023?

Asia’s capacity is expected to reach 82 GW in 2023 and 134 GW in 2031. “We expect Asia to outperform other regions for pumped hydropower capacity growth, overtaking North America and Western Europe’s (NAWE) installed pumped hydropower capacity in 2023, with developments chiefly concentrated in Mainland China,” Fitch said.