Key Players
Competitive Landscape
Four supplier types compete in the gravity energy storage market: lifted-mass developers, pumped-gravity specialists, utility asset operators and hydropower equipment groups.
Investment has moved in two directions since 2025: modernization of existing pumped-storage assets and variable-speed equipment for flexible grid service. ANDRITZ secured EDF’s Vouglans/Saut-Mortier contract in July 2026 for a 17 MW pump turbine that expands storage from 50 GWh to 250 GWh. Voith won the Grimsel 4 contract in April 2026 for two 70 MW variable-speed pump turbines and motor-generators. Price remains relevant but utilities first compare hydraulic qualification, commissioning responsibility and service coverage.
Company developments mapped to drivers, trends and opportunities (2026-2036)
| Development | Driver | Trend | Opportunity |
|---|---|---|---|
| ANDRITZ, EDF Vouglans/Saut-Mortier contract, July 2026; 17 MW unit and storage expansion from 50 GWh to 250 GWh. | Utilities prefer upgrades using existing reservoirs and grid connections. | Existing cascades are adding variable-speed pumped-storage equipment. | Revenue covers turbines, converters, controls, commissioning and long-term service. |
| Voith, Grimsel 4 contract, April 2026; two 70 MW variable-speed pump turbines and motor-generators. | Operators need qualified hydraulic designs and flexible pumping control. | New pumped-storage projects are selecting variable-speed units. | Revenue covers pump turbines, generators, automation, installation and lifecycle service. |
| GE Vernova, Tehri commissioning, June 2025; first 250 MW unit within a four-unit 1 GW expansion. | System operators need faster response as renewable generation expands. | Large projects are adopting integrated variable-speed water-to-wire systems. | Revenue covers turbines, generators, power electronics, controls and local service. |
Energy Vault, RheEnergise, Green Gravity, EDF and Toshiba compete through specialist platforms, operating assets or commissioned equipment outside the three developments shown.
Source: Future Market Insights, Gravity Energy Storage Market and Pumped Hydro Storage Market Reports, 2026-2036.
ANDRITZ, Voith and GE Vernova cover variable-speed pump turbines, motor-generators, controls, installation and commissioning. Toshiba adds large-unit delivery while EDF contributes operating and asset-modernization experience.
Who leads the gravity energy storage market?
Energy Vault leads the specialist developer group on disclosed project scale. Its May 2026 Eskom agreement covered an initial 25 MW/100 MWh project and up to 4 GWh of potential deployment.
Which suppliers have documented hydraulic qualification or operating evidence?
Voith stated that Grimsel 4 uses a tested and qualified hydraulic design. GE Vernova commissioned the first 250 MW Tehri variable-speed unit while Toshiba completed four 350 MW units at Ninghai.
Which companies provide mine-shaft or hill-based gravity systems?
Green Gravity adapts disused mine shafts for lifted-mass storage and RheEnergise uses high-density fluid on hills with less elevation. Energy Vault also develops lifted-mass systems for purpose-built structures and underground sites.
Which suppliers serve Europe and Asia-Pacific?
ANDRITZ and Voith hold 2026 pumped-storage contracts in France and Switzerland while EDF operates the French reservoir cascade being modernized at Vouglans and Saut-Mortier. GE Vernova commissioned Tehri equipment in India while Toshiba supplied Ninghai units in China and Green Gravity develops mine-shaft projects from Australia.
Representative Company Overview
| Company | Positioning | Verified market-relevant capabilities |
|---|---|---|
| Energy Vault Holdings, Inc. | Specialist developer; China and Southern Africa | Lifted-mass systems; initial 25 MW and 100 MWh Eskom project with up to 4 GWh development scope. |
| RheEnergise Limited | UK specialist; international pipeline | High-Density Hydro; 500 kW Cornwood full-power demonstration. |
| Green Gravity Pty Ltd. | Australian specialist | Mine-shaft lifted-mass systems; binding Russell Vale trial agreement. |
| Électricité de France S.A. | French utility operator | Pumped-storage asset operation and the Vouglans/Saut-Mortier modernization programme. |
| ANDRITZ AG | Global equipment supplier | Variable-speed pump turbines, governors, installation and commissioning; 17 MW EDF contract. |
| Voith GmbH & Co. KGaA | Global equipment supplier | Pump turbines, motor-generators, installation and lifecycle service; Grimsel 4 contract. |
| GE Vernova Inc. | Global integrated supplier | Water-to-wire systems, power electronics and controls; 250 MW Tehri unit commissioned. |
| Toshiba Corporation | Global equipment supplier | Pumped-storage turbines, generators and balance-of-plant equipment; four 350 MW Ninghai units. |
Research Methodology
The companies show how competition divides between specialist platforms, utility operators and hydropower equipment groups. Inclusion requires current official evidence of gravity-storage development, pumped-storage operation or equipment delivery for grid-scale applications. Company newsrooms and official project announcements supplied event dates and capacities. Capability records were used for current service scope without treating company size as market leadership. The 54.0% mechanical gravity share is an FMI estimate for 2026 and does not rank individual companies.
