Global Advanced Energy Storage Systems Market 2016-2020

2015-12-09
Price :
Published : Dec-2015
No. of Pages : 73

Market outlook of the global advanced energy storage systems market

The 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?
Filed in: Energy & Power
Publisher : Technavio
More Reports
Title Price Buy Now

Algeria Crude Oil Refinery Outlook to 2022

Algeria Crude Oil Refinery Outlook to 2022 Summary "Algeria Crude Oil Refinery Outlook to 2022" is a comprehensive report on crude oil refinery industry in Algeria. The report also provides details on oil refineries such as name, type, operational status, operator apart from capacity data for the major processing units, for all active refineries in Algeria for the period 2012-2022. Further, the report also offers recent developments and latest contracts awarded in the country's oil refinery industry. Scope - Updated information related to all active refineries in the country, including operator and equity details - Information on CDU, condensate splitter, catalytic cracking and hydrocracking capacities by refinery in the country, where available - Latest developments and awarded contra......
$1500

Singapore Renewable Energy Policy Handbook 2017

Singapore Renewable Energy Policy Handbook 2017 Summary "Singapore Renewable Energy Policy Handbook 2017" is among the latest country specific policy reports from GlobalData, the industry analysis specialist that offers comprehensive information on major policies governing renewable energy market in the country. The report provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country. The report is built using data and information sourced from industry associations, government websites and statutory bodies. The information is also sourced through other secondary r......
$500

Vietnam Crude Oil Refinery Outlook to 2022

Vietnam Crude Oil Refinery Outlook to 2022 Summary "Vietnam Crude Oil Refinery Outlook to 2022" is a comprehensive report on crude oil refinery industry in Vietnam. The report also provides details on oil refineries such as name, type, operational status, operator apart from capacity data for the major processing units, for all active and planned refineries in Vietnam for the period 2012-2022. Further, the report also offers recent developments, financial deals as well as latest contracts awarded in the country's oil refinery industry. Scope - Updated information related to all active and planned refineries in the country, including operator and equity details - Information on CDU, condensate splitter, catalytic cracking and hydrocracking capacities by refinery in the country, where av......
$1500

Taiwan Renewable Energy Policy Handbook 2017

Taiwan Renewable Energy Policy Handbook 2017 Summary "Taiwan Renewable Energy Policy Handbook 2017" is among the latest country specific policy reports from GlobalData, the industry analysis specialist that offers comprehensive information on major policies governing renewable energy market in the country. The report provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country. The report is built using data and information sourced from industry associations, government websites and statutory bodies. The information is also sourced through other secondary researc......
$500

Peru Crude Oil Refinery Outlook to 2022

Peru Crude Oil Refinery Outlook to 2022 Summary "Peru Crude Oil Refinery Outlook to 2022" is a comprehensive report on crude oil refinery industry in Peru. The report also provides details on oil refineries such as name, type, operational status, operator apart from capacity data for the major processing units, for all active refineries in Peru for the period 2012-2022. Further, the report also offers recent developments, financial deals as well as latest contracts awarded in the country's oil refinery industry. Scope - Updated information related to all active refineries in the country, including operator and equity details - Information on CDU, coking and catalytic cracking capacities by refinery in the country, where available - Key mergers and acquisitions, partnerships, private eq......
$1500

Thailand Renewable Energy Policy Handbook 2017

Thailand Renewable Energy Policy Handbook 2017 Summary "Thailand Renewable Energy Policy Handbook 2017" is among the latest country specific policy reports from GlobalData, the industry analysis specialist that offers comprehensive information on major policies governing renewable energy market in the country. The report provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country. The report is built using data and information sourced from industry associations, government websites and statutory bodies. The information is also sourced through other secondary res......
$500

Australia Crude Oil Refinery Outlook to 2022

Australia Crude Oil Refinery Outlook to 2022 Summary "Australia Crude Oil Refinery Outlook to 2022" is a comprehensive report on crude oil refinery industry in Australia. The report also provides details on oil refineries such as name, type, operational status, operator apart from capacity data for the major processing units, for all active and planned refineries in Australia for the period 2012-2022. Further, the report also offers recent developments, financial deals as well as latest contracts awarded in the country's oil refinery industry. Scope - Updated information related to all active and planned refineries in the country, including operator and equity details - Information on CDU, catalytic cracking and hydrocracking capacities by refinery in the country, where available - Key......
$1500

Vietnam Renewable Energy Policy Handbook 2017

Vietnam Renewable Energy Policy Handbook 2017 Summary "Vietnam Renewable Energy Policy Handbook 2017" is among the latest country specific policy reports from GlobalData, the industry analysis specialist that offers comprehensive information on major policies governing renewable energy market in the country. The report provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country. The report is built using data and information sourced from industry associations, government websites and statutory bodies. The information is also sourced through other secondary resea......
$500

Turkey Crude Oil Refinery Outlook to 2022

Turkey Crude Oil Refinery Outlook to 2022 Summary "Turkey Crude Oil Refinery Outlook to 2022" is a comprehensive report on crude oil refinery industry in Turkey. The report also provides details on oil refineries such as name, type, operational status, operator apart from capacity data for the major processing units, for all active and planned refineries in Turkey for the period 2012-2022. Further, the report also offers recent developments, financial deals as well as latest contracts awarded in the country's oil refinery industry. Scope - Updated information related to all active and planned refineries in the country, including operator and equity details - Information on CDU, coking, catalytic cracking and hydrocracking capacities by refinery in the country, where available - Key mer......
$1500

Asia Pacific Renewable Energy Policy Handbook 2017

Asia Pacific Renewable Energy Policy Handbook 2017 Summary Renewable energy represents a possible solution to two major global issues: global warming and diminishing fossil fuel reserves. It is sustainable and clean, generally emitting no or very little CO2, and these factors have led major countries to shift their focus toward the development of renewable energy sources. In the Asia-Pacific region, FiT is evidently the most popular form of incentive utilized to promote renewable power installations. Except New Zealand, South Korea, and Singapore, all other countries covered in the region have FiTs for one or more renewable technologies. Net-metering which is a recent and more advanced incentive is popular in Japan and is gaining ground in India with a few states having introduced the s......
$3995