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Energy Storage - Thematic Research

Energy Storage - Thematic Research

  • April 2019
  • 35 pages
  • ID: 5775900
  • Format: PDF
  • By GlobalData

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Energy Storage - Thematic Research

Summary
Energy Storage market has caught the eye of a number of stakeholders involved in the power industry, leading to its considerable growth and paving way for next energy revolution.In the electricity distribution sector, energy storage has increasingly been considered a crucial advancement in the recent years.

Energy storage systems (ESS) are used widely for storing energy intended for use later.ESS technologies can help manage power during peak load periods, enabling energy management, providing bridging power and enhancing the quality and reliability of power.

It also facilitates the integration of distributed renewable energy sources into the grid, which can be utilized to meet the demand.

Energy storage installations linked with electricity grid and ancillary services are expected to surge in the coming years due to major drivers such as increased renewable energy integration, growing energy demand, asset retirements and smart digital technology innovation.Energy storage installation among end-users (renewable energy generators, grid operators and distributed generation) is projected to witness larger growth due to smart grid development.

The battery energy storage system (BESS) market, which is estimated at 4.9 GW in 2018, is forecast to reach 22.2 GW by 2023.

The major ESS technologies include pumped hydroelectric storage (PHS), compressed air energy storage (CAES), flywheels, batteries, and capacitors. According to the International Renewable Energy Agency’s (IRENA) Renewable Energy Roadmap 2030, 475 gigawatts (GW) of ESS would be required to meet the target of 45% power from renewable sources in the energy mix by 2030.

The expansion in battery manufacturing capacity and falling costs resulting from the electric vehicle (EV) industry are driving growth in energy storage services and new markets. This fall in battery prices has favored the battery energy storage market and has speeded the deployment of energy storage projects globally.

Currently, lithium-ion (Li-ion) batteries dominate the electrochemical energy storage market but other battery energy storage technologies such as sodium-sulfur (NaS), lead-acid and flow batteries are now getting deployed. While, thermal energy storage utilizing molten salt is among the most widely used technology in association with concentrated solar power (CSP) projects, among mechanical energy storage technologies, pumped hydroelectric storage systems is among the most mature energy storage technologies and offers a number of benefits such as energy-balancing, stability, storage capacity, along with ancillary grid services which include network frequency control and reserves.

The report "Energy Storage - Thematic Research", is a significant thematic research project looking at the present scenario and emerging market trends in the global energy storage industry, and the key companies behind the development of three energy storage technologies: electrochemical, mechanical and thermal energy storage.

Scope
- This report analyses energy storage technology.
- The report highlights some of the global equipment manufacturers in the three major energy storage technologies which are electrochemical, mechanical and thermal energy storage
- It identifies the leaders and laggards within the energy storage industry and where do they sit in the value chain.
- It analyses technology, macroeconomic and regulatory trends across the energy storage industry.
- It provides an industry analysis of the energy storage sector, highlights the battery energy storage system (BESS) market and major mergers and acquisitions in the energy storage sector.
- It identifies companies at the forefront of energy storage industry.

Reasons to buy
- The report provides a comprehensive analysis of the present scenario and emerging market trends in the global energy storage industry.
- To gain insights of the global leaders and challengers in the energy storage market for the three primary types of energy storage technologies: mechanical storage, electrochemical storage and thermal storage.
- Extensive analysis of the BESS market.
- Provide detailed information regarding major mergers and acquisitions related to energy storage theme over the past two years.
- Major market players within the energy storage industry are profiled in this report and their action plans are studied thoroughly, which aid in interpreting the competitive outlook of the energy storage sector.

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