There are some problems such as insufficient charging and discharging energy, low energy density and unadjustable working parameters in the pneumatic accumulator. To solve these problems, a pressure adjustable hydraulic accumulator was proposed. Through analyzing the working principle of pressure adjustable hydraulic accumulator, a simulation model was established in AMESim software. The pressure adjustable hydraulic accumulator combined with asymmetric pump was applied to the hydraulic cylinder lifting energy saving circuit, and a circuit with pneumatic accumulator was set as a reference to carry out energy saving simulation analysis. The results show that the pressure adjustable hydraulic accumulator can release 29% more energy than the pneumatic accumulator, and the motor can save 7.45% more energy. It can improve the energy recovery efficiency of construction machinery.