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Advanced Energy Storage Systems Market by Technology, by Application, and Region - Global Forecast to 2022

Advanced Energy Storage Systems Market: Global Forecast until 2022

  • August 2017
  • 159 pages
  • ID: 5092753
In this report:
According to Bloomberg New energy finance wind and solar energy accounted for ##% of the 2015 investments in renewable power, as the cost of wind turbines has fallen by nearly a third, since 2009 and that of solar photovoltaic modules fell by ##%.
In 2017, the market in Asia Pacific is estimated to account for the largest share of ##.##% of the global AESS market, while the North American market is expected to hold the second largest share of around ##.##%.

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"The advanced energy storage systems market is estimated to rise at a compound annual growth rate of ~8.4 percent, between 2017 and 2022."

The advanced energy storage systems market is estimated to grow ~$19.0B by 2022, at a compound annual growth rate of ~8.4 percent, between 2017 and 2022. The growing renewable energy investments, reducing costs lithium-ion battery, and electrification of the transportation industry are the main drivers of the advanced energy storage systems market.

High capital requirement for some of the technologies, hazardous environmental impact of batteries, and lack of common codes and standards in the energy storage sector could hinder the rise of the AESS market.

"The lithium-ion sub-segment, within the technology segment, is anticipated to grow at the highest CAGR (Compound annual growth rate), between 2017 and 2022."

The lithium-ion battery sub-segment, within the technology segment, is likely to grow at the highest compound annual growth rate (CAGR), during 2017 to 2022. It led the electro chemical technology segment market within the advanced energy storage systems market in 2016 and is expected to dominate the industry during the outlook period.

This particular market is anticipated to grow in the outlook as a result of quick increase in the electric vehicles market along the falling cost of these batteries.

Moreover, technological improvements and the fast involvement of domestic manufacturers to cater to the varied applications demand for lithium-ion batteries are some of the reasons behind the segment's strong hold in the sector.

"APAC: The biggest market for advanced energy storage systems"

The industry in Asia-Pac is currently the biggest market for advanced energy storage systems, succeeded by North America continent. The sector in Asia Pacific (APAC) is primarily influenced by China (CN) and Japan (JP). China (CN) has a major part in the world's electric vehicle market, which makes it a top market for lithium-ion batteries.

Key players' distribution profiles:

Comprehensive interviews have been managed with several key industry participants, subject matter experts, C-suite executives of key industry players, and industry consultants, among other experts, to verify and obtain critical qualitative and quantitative info, as well as to evaluate future industry prospects. The classification of primaries interviews is like:

By Company Type: Tier 1 31.0 percent, Tier 2 22.0 percent, and Tier 3 47.0 percent

By Designation: C-Level- 37.0 percent, Manager-Level- 34.0 percent, and D-Level- 29.0 percent

By area: North america (NA)- 23%, Europe- 29.0 percent, Asia Pacific- 34.0 percent, and RoW- 14.0 percent

Notes: The tier for firms has been defined on the basis of their final revenue, as of 2016: Tier 1=>USD 5 billion, Tier 2=from $1.0B to $5.0B, and Tier 3=

Rest of the world is the rest of the world

Key players in the advanced energy storage systems market contain ABB Ltd. (NYSE:ABB), LG Chem, Limited, General Electric (NYSE:GE), Samsung SDI Co ltd., GS Yuasa Corporation, Siemens Ltd., Panasonic (PCRFY), CALMAC, Baltimore Aircoil Company, Inc, Tesla Inc., Evapco, Incorporated, Saft Groupe S.A, Hitachi Ltd, and BYD Company Ltd.

Segment Research

The market research defines, depicts, and forecasts the overall advanced energy storage systems market by technology, application, and area. It also provides a in-depth qualitative and quantitative analysis of the market. The industry report offers a comprehensive analysis of major market drivers, industry restraints, alternatives, opportunities, and main issues. It also includes different important aspects of the market.

Why acquire this industry report?

The study determines and addresses top technology providers for advanced energy storage systems which would help service providers, review the rise in the industry demand for services.

The analysis benefits system providers distinguish the pulse of the sector and offer business insights into drivers, market restraints, and opportunities.

The market research will facilitate top players comprehend the strategies of their competitors better and will facilitate in making tactical conclusions.

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