1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Electric Power
  5. > Energy Storage Market Trends

Global Advanced energy storage Markets 2016-2020

  • December 2015
  • 73 pages
  • Infiniti Research Limited
Report ID: 3471792

Summary

Table of Contents

Search Inside

Market outlook of the global advanced energy storage systems market
Technavio’s research analyst predicts the global advanced energy storage systems market to grow steadily at a CAGR of close to 14% during the forecast period. Energy storage technology is used to store surplus electricity that can be utilized during power shortages, blackouts, and peak hours of demand. The growing demand for electricity worldwide coupled with an imminent need to reduce the demand-supply gap has prompted power utilities to adopt advanced energy storage.
The market is also witnessing a rising trend in the installations of wind and solar PVs, thus augmenting the demand for advanced energy storage. Countries worldwide are using advanced ESS to overcome the intermittent nature of renewable energy resources. However, the growth of the global advanced energy storage market is curtailed by several challenges such as cost competitiveness as these systems are expensive as compared to conventional systems.
End-user segmentation and analysis of the global advanced energy storage market
- Thermal energy storage
- Batteries
- Compressed air storage
- Molten salt
- Flywheels

The thermal energy storage (TES) segment dominated the market in 2015 with a market share of close to 42%. It is gaining importance as it helps in mitigating the intermittent nature of solar PVs. TES systems play a crucial role in electricity storage through concentrating solar power (CSP) plants wherein solar heat can be stored and used for electricity production in the absence of sunlight. It helps to enhance the utilization rate of power plants by 60%-75%. It also finds key application in nuclear power storage and helps meet critical peak demand by achieving higher power outputs.
Geographical segmentation and analysis of the global advanced energy storage market
- Americas
- APAC
- EMEA
North America holds nearly 45% share of the overall installed capacity of advanced energy storage systems as of 2015. State-level participation and growing investments in grid storage projects have fueled the growth of the grid energy storage market in North America. The US government has initiated the “EV Everywhere Grand Challenge Blueprint,” which promises to raise the number of EVs to one million by 2015 in a bid to reduce CO2 emissions. Adoption of EVs fosters the use of Li-Ion batteries as an efficient means of energy storage thereby reducing costs.

Competitive landscape and key vendors
Many vendors in the APAC region are making concentrated efforts to provide high-tech, customized ESS solutions for different end-user applications. This trend is likely to continue well over 2020 with many new entrants poised to enter this attractive market.

The leading vendors in the market are -
- AES Energy Storage
- Alevo
- EnSync Energy
- GE
- LG Chem
Other prominent vendors in the market include Mitsubishi Heavy Industries, Enersys, Active Power, and Beacon Power.

Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global advanced energy storage market?
- What are the key market trends impacting the growth of the global advanced energy storage market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global advanced energy storage market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global advanced energy storage market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:
- Global Compressed Air Energy Storage Market 2015-2019
- Global Energy Storage in Microgrids Market 2015-2019
- Global Battery Market for Energy Storage in Telecom 2015-2019

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Ahmad helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Thermal Energy Storage Market by Technology, Storage Material, Application, End-User, and Region - Global Forecast to 2022

  • $ 5650
  • Industry report
  • March 2017
  • by MarketsandMarkets

“The thermal storage market is projected to grow at a CAGR of 11.0% from 2017 to 2022” The thermal energy storage market is projected to reach USD 6.20 billion by 2022, growing at a CAGR of 11.0% ...

Global Energy Storage Market Outlook, 2017

  • $ 4950
  • Industry report
  • May 2017
  • by Frost & Sullivan

Energy Storage System Installed Capacity Will Hit 8.13 Gigawatts in 2017 2017 will represent a breakout year for distributed energy storage, largely driven by the battery energy storage market. The utility-scale ...

Global Superconducting Magnetic Energy Storage (SMES) Systems Industry

  • $ 4950
  • Industry report
  • May 2017
  • by Global Industry Analysts

This report analyzes the worldwide markets for Superconducting Magnetic Energy Storage (SMES) Systems in US$ Thousand. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.