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

Advanced Energy Storage Systems Market Analysis By Technology (Batteries, Flywheel, Thermal, Compressed Air, Molten Salt) And Segment Forecasts To 2022

  • May 2016
  • 118 pages
  • Grand View Research
Report ID: 3340620

Summary

Table of Contents

Global Advanced Energy Storage Systems Market By Technology (Batteries, Flywheel, Thermal, Compressed Air, Molten Salt) Is Expected To Reach USD 6.93 Billion By 2022
May 2015
Global advanced energy storage systems market is expected to reach USD 6.93 billion by 2022. Increasing demand for utility scale power generation particularly during peak hours is expected to augment demand for advanced energy storage systems. Advanced energy storage systems efficiently manage energy resources thereby reducing the need for utility scale power generation plants. The above factor significantly helps in reducing fixed cost and is expected to play a key role in market growth over the forecast period.

Stringent regulatory framework governing the use of fossil fuels for power generation is also expected to act as a major driver for advanced energy storage systems market growth. Power plants generate significant quantities of GHG such as CO2, which can be overcome through the efficient use of advanced energy storage systems. These systems store energy when generated and are capable of providing back up power in times of excess power demand (peak hours).

Further key findings from the study suggest:

Thermal energy storage systems were the largest technology segment in terms of installed capacity accounting for over 40% of global market in 2014. High efficiency in terms of energy storage and ability to provide power during peak hours in expected to play a major role in promoting market growth.
Battery storage devices market is still in a nascent stage and is expected to witness fastest growth at a CAGR of over 18% from 2015 to 2022. The market has large potential owing to easy charging properties and re-energization of the electrolyte liquid resulting in negligible wastage.
North America dominated the advanced energy storage systems market accounting for over 45% of global installed capacity in 2014. Stringent regulations with regards to environmental emissions are expected to result in increased installations of advanced energy storage systems, particularly in the U.S.
Asia Pacific is expected to be the fastest growing market for advanced energy storage systems at a CAGR of over 18% in terms of revenue from 2015 to 2022. Growing industrialization and improving consumer lifestyle has resulted in a surging need for energy which in turn is expected to augment advanced energy storage systems market in the region.
Advanced energy storage systems market is highly fragmented owing to the presence of numerous companies across multiple technologies. Owing to the technology driven nature of the market, key companies including AES Energy Storage, LG Chem, GE and Alevo are heavily investing into R&D to develop breakthrough technologies.
For the purpose of this study, Grand View Research has segmented the global advanced energy storage systems market on the basis of technology and region:

Global Advanced Energy Storage Systems Technology Outlook (Capacity, Megawatt; Revenue, USD Million, 2012 - 2022)

Batteries
Flywheel
Thermal
Compressed Air
Molten Salt
Global Advanced Energy Storage Systems Regional Outlook (Capacity, Megawatt; Revenue, USD Million, 2012 - 2022)

North America
U.S.
Europe
Germany
UK
Latin America
Brazil
Asia Pacific
China
India
Japan
MEA
Saudi Arabia

Please note: this report requires certain updates. We have all the information available but require 2 working days business days to complete the process and ensure it is as up-to-date as possible.


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.

Veronica 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

Electricity Control and Distribution Equipment Markets in the World to 2021 - Market Size, Trends, and Forecasts

  • $ 23129
  • Industry report
  • July 2017
  • by Global Research & Data Services

This industry report package offers the most up-to-date market data on the actual market situation, trends, and future outlook for electricity control and distribution equipment in the world. Along with ...

Electricity Control and Distribution Equipment Markets in Europe to 2021 - Market Size, Trends, and Forecasts

  • $ 12223
  • Industry report
  • July 2017
  • by Global Research & Data Services

This industry report package offers the most up-to-date market data on the actual market situation, trends, and future outlook for electricity control and distribution equipment in different European countries. ...

Electricity Control and Distribution Equipment Markets in Asia to 2021 - Market Size, Trends, and Forecasts

  • $ 9430
  • Industry report
  • July 2017
  • by Global Research & Data Services

This industry report package offers the most up-to-date market data on the actual market situation, trends, and future outlook for electricity control and distribution equipment in different Asian countries. ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

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