Advanced Energy Storage Systems Market Research Report - Forecast to 2027 - PowerPoint PPT Presentation

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Advanced Energy Storage Systems Market Research Report - Forecast to 2027

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Title: Advanced Energy Storage Systems Market Research Report - Forecast to 2027


1
Advanced Energy Storage Systems Market Research
Report - Forecast to 2027
  • Advanced Energy Storage Systems Market Is Grow
    20.18 CAGR By 2027

2
Advanced Energy Storage Systems Global Market
Overview
  • The global advanced energy storage systems market
    has witnessed a remarkable growth in the past few
    years and it has been anticipated that the energy
    storage systems will grow at the rapid pace
    during the forecast period. Energy Storage is a
    very diverse subject areas, it comprises from
    small to very large systems. Energy storage is
    broadly segmented into mechanical energy storage,
    electro-chemical energy storage, thermal storage
    and chemical storage. Energy storage systems have
    been dominating the renewable energy market as
    well conventional market in recent years because
    of the ability of store the energy in various
    forms and supply according to end user needs. The
    energy storage systems are driven by various
    factors such as evolution in renewable energy
    power generation, gradual downfall in technology
    cost and increasing application of energy storage
    in all end-user industries. This is mainly
    because, energy storage systems are less
    polluting and produces less carbon emissions when
    compared with traditional conventional energy
    sources such as coal, oil and petroleum. Energy
    storage generation is helping in the fight
    against climate change as well as it is acting as
    a source of power for remote and off grid areas
    where still millions of global population lives.
    However, the growth of the market can be hindered
    by the due high initial capital investment and
    indistinct supervisory framework for energy
    storage systems. As per the study conducted by
    Market Research Future, the global market for
    advanced energy storage systems is likely to grow
    at the CAGR of around 20.18.

3
Energy storage can be described as a technology
that provides a preference to source power as and
when required without backsliding to conventional
energy sources. These energy systems are highly
efficient and acts as flexible generation when
needed. Energy storage systems can contribute to
optimal use of generation and grid assets, and
support emissions reductions in several economic
sectors. . Energy efficiency mandates for
emitting zero or no carbon emissions and demand
for clean energy are driving the growth of
advanced energy storage systems. The growing
attention and substantial investment in renewable
power energy generation is rigorously driving the
global energy storage systems. Major economies
around the world are highly focusing on
developing the renewable energy power generation
so as to reduce their dependency on conventional
power generation through fossil fuels. Renewable
energy currently holds a substantial share in
total global energy production. In 2016, World
Energy Council quoted that, hydropower accounted
for about 30 of the total global installed power
generating capacity and about 23 of total global
electricity produced. The tremendous yearly
addition in capacity of renewable energy is
certainly boosting the energy storage systems
globally. Energy storage system primarily
utilizes potential energy to convert it into
various forms of energy through mechanical,
electrochemical, thermal and chemical conversion.
Energy storage utilizes various technologies
which comprises of numerous associated equipment,
the gradual downfall in the raw material prices
and manufacturing cost of the primary products
have certainly boosted the energy storage system
market. The reduction in battery cost and its
related equipment, also the gradual downfall in
compressor systems, hydro turbines, and pumps
have given the end users a strong framework to
investment in energy storage systems. The growing
production of equipment related to energy storage
technology with reduction in raw material cost is
developing a favourable environment for the
existing and new service provider to provide
viable energy storage solution in a cost
effective way.
4
Geographically, the global advanced energy
storage systems market has been divided into
North America, Europe, Asia Pacific and Rest of
the World. Among these regions, Europe is
projected to dominate the market during the
forecast period. The major factors driving the
growth of the market here are the increasing
number of pumped hydro storage projects.
Moreover, The Europe is addressing these new
challenges in the energy system by promoting
innovation in key technologies and developing
suitable market rules. Technological innovation
in storage falls under the Horizon 2020 programme
and the Strategic Energy Technology Plan. Also,
substantial growth is expected in regions such
as, North America, and Asia Pacific, as these
region are rapidly increasing their power
generation capacity.
5
Key Players
  • Yuasa Corporation , Samsung SDI Co. Ltd. ,
    Hitachi Limited, Toshiba Corporation, ABB
    Limited, Siemens A.G., Alstom, Exide
    Technologies, L.G. Chem. Limited, Alevo Group
    S.A., Maxwell Technologies Inc., AES Corporation,
    Tesla Inc., General Electric Company, Voith GmbH,
    Sulzer Ltd., Hydrostor Inc., Highview Power
    Storage, Linde AG, Hydrogenics Corporation and
    SolarReserve, LLC.. are some of the prominent
    players profiled in MRFR Analysis and are at the
    forefront of competition in the Global Advanced
    energy storage systems Market.

6
Industry News
  • In July, 2017 Siemens AG (Siemens) and The
    AES Corporation (NYSE AES, AES) announced
    their agreement to form a new global energy
    storage technology and services company under the
    name Fluence. The joint venture will bring
    together AES ten years of industry-defining
    experience deploying energy storage in seven
    countries with over a century of Siemens energy
    technology leadership and its global sales
    presence in more than 160 countries.In
    February, 2017 MAN Diesel Turbo and
    Karpowership renewed their ongoing partnership to
    develop Powerships with the utilization of MAN
    Diesel Turbo. 18V 51/60 engines.In November,
    2016 AES Energy Storage, a subsidiary of The
    AES Corporation (NYSE AES), showcased two new
    Advancion battery-based energy storage sites,
    totaling 37.5 megawatts (MW), in partnership with
    San Diego Gas Electric (SDGE), a leading
    energy company delivering safe, reliable and
    clean power.

7
Advanced energy storage systems Global Market -
Competitive Analysis
  • The global market for advanced energy storage
    systems seems to be highly competitive. To
    maintain the market position and to drive the
    market growth, various dynamic and diversified
    international organizations, domestic
    organizations and as well as new entrants form a
    competitive landscape. Market leaders are
    innovating continuously and increasingly seeking
    market expansion through various strategic
    mergers and acquisitions, product launch,
    innovation, increasing investments in research
    and development and cost-effective product
    portfolio. Major players are investing on
    internal RD and, most of all, in acquiring other
    firms.

8
About Market Research Future
  • At Market Research Future (MRFR), we enable our
    customers to unravel the complexity of various
    industries through our Cooked Research Report
    (CRR), Half-Cooked Research Reports (HCRR), Raw
    Research Reports (3R), Continuous-Feed Research
    (CFR), and Market Research Consulting Services.
  • MRFR team have supreme objective to provide the
    optimum quality market research and intelligence
    services to our clients. Our market research
    studies by products, services, technologies,
    applications, end users, and market players for
    global, regional, and country level market
    segments, enable our clients to see more, know
    more, and do more, which help to answer all their
    most important questions.
  • In order to stay updated with technology and work
    process of the industry, MRFR often plans
    conducts meet with the industry experts and
    industrial visits for its research analyst
    members.

9
Contact Us
  • Market Research Future
  • 1 646 845 9312
  • Email┬ásales_at_marketresearchfuture.com
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