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... Research Beam Model: Research Beam Product ID: 368026 2500 USD New
Global Advanced Energy Storage Systems Market 2016-2020
 
 

Global Advanced Energy Storage Systems Market 2016-2020

  • Category : Energy and Power
  • Published On : December   2015
  • Pages : 73
  • Publisher : Technavio
 
 
 
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
PART 01: Executive summary
Highlights

PART 02: Scope of the report
Market overview
Top-vendor offerings

PART 03: Market research methodology
Research methodology
Economic indicators

PART 04: Introduction
Key market highlights

PART 05: Market landscape
Market overview
Market size and forecast
Five forces analysis

PART 06: Market segmentation by technology
Global advanced energy storage market by technology
Global advanced thermal energy storage market
Global advanced battery energy storage market
Global CAES market
Global molten salt energy storage market
Global flywheels energy storage market

PART 07: Geographical segmentation
Global advanced energy storage market by geography
Advanced energy storage market in Americas
Advanced energy storage market in EMEA
Advanced energy storage market in APAC

PART 08: Market drivers
Rise in renewable energy use
Need to enhance grid stability and network capacity
Need for energy storage in EVs
Frequency regulation using advanced ESS

PART 09: Impact of drivers

PART 10: Market challenges
Technological and assembly-related issues in Li-ion batteries
Stringent regulatory environment in the US
Cost competitiveness

PART 11: Impact of drivers and challenges

PART 12: Market trends
Advances in technology
Need to mitigate issues pertaining to solar energy storage
Government initiatives to promote advanced energy storage
Rising number of vendors and collaborations

PART 13: Vendor landscape
Competitive scenario
Other prominent vendors

PART 14: Key vendor analysis
AES Energy Storage
Alevo
EnSync
GE
LG Chem

PART 15: Appendix
List of abbreviations

PART 16: Explore Technavio

List of Exhibits
Exhibit 01: Product offerings
Exhibit 02: Advanced ESS
Exhibit 03: Characteristics of different batteries
Exhibit 04: Global advanced energy storage market
Exhibit 05: Global advanced energy storage market by installed capacity 2015-2020 (MW)
Exhibit 06: Global advanced energy storage market 2015-2020 ($ billions)
Exhibit 07: Global thermal energy storage 2015
Exhibit 08: Global Compressed Air Energy Storage
Exhibit 09: Finalized advanced energy storage proposals for NASA
Exhibit 10: North America advanced energy storage market 2015
Exhibit 11: Global advanced energy storage market by technology 2015
Exhibit 12: Global advanced energy storage by technology 2020
Exhibit 13: Global advanced energy storage by technology 2015-2020
Exhibit 14: Global advanced thermal energy storage 2015-2020 (MW)
Exhibit 15: Operational solar CSP plants using thermal energy storage
Exhibit 16: Global advanced battery energy storage market 2015-2020 (MW)
Exhibit 17: Key advanced lead-acid battery-based ESS projects
Exhibit 18: Global advanced compressed air storage market 2015-2020 (MW)
Exhibit 19: Global molten salt energy storage market 2015-2020 (MW)
Exhibit 20: Global flywheel energy storage market 2015-2020 (MW)
Exhibit 21: Global advanced energy storage market by geography 2015
Exhibit 22: Global advanced energy storage market by geography 2020
Exhibit 23: Global advanced energy storage market by region 2015-2020
Exhibit 24: Advanced energy storage market in Americas 2015-2020 (MW)
Exhibit 25: CO2 emissions by sector 2014
Exhibit 26: EV Everywhere Grand Challenge Blueprint program
Exhibit 27: Proposed target for California (MW)
Exhibit 28: Advanced energy storage market in EMEA 2015-2020 (MW)
Exhibit 29: EV stock in major European countries 2014
Exhibit 30: Thermal energy storage parameters in Ackermannbogen
Exhibit 31: Advanced energy storage market in APAC (MW)
Exhibit 32: EV stock in Japan and China 2014
Exhibit 33: Energy storage market in China by 2020
Exhibit 34: Advantages of smart grids
Exhibit 35: Advantages of EVs
Exhibit 36: Impact of drivers and challenges
Exhibit 37: EnSync: Product segmentation
Exhibit 38: GE: Business segmentation by revenue 2014
Exhibit 39: GE: Business segmentation by revenue 2013 and 2014 ($ millions)
Exhibit 40: GE: Geographical segmentation by revenue 2014
Exhibit 41: LG Chem: Key products of mobile battery division
Exhibit 42: LG Chem: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 43: LG Chem: Geographical segmentation by revenue 2014

PURCHASE OPTIONS
 
 
 

How can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.


  Contact
 

Subscribe to Our Newsletter

 
 

Related Reports

REQUEST SAMPLE    ASK FOR DISCOUNT