World Advanced Energy Storage Marketplace Canvassed by Infiniti Research in New Research Report Now Available at MarketPublishers.com
21 Dec 2015 • by Natalie Aster
LONDON – The world advanced energy storage systems market is poised to grow steadily at around 14% CAGR in the upcoming years. Energy storage technology is used to store surplus electricity that can be used during power shortages, blackouts, and peak hours of demand. The soaring demand for electricity from pole to pole in tandem with an inevitable need to reduce the gap between demand and supply has motivated power supply utilities to adopt advanced energy storage.
The market is also seeing a growing trend in the wind and solar PVs installations, thus increasing the demand for advanced energy storage. A great many counties worldwide are utilising advanced ESS to overcome renewable energies’ intermittent nature. Nevertheless, the expansion of the world advanced energy storage market is restrained by a range of challenges like cost competitiveness, as these systems are expensive as against traditional ones.
North America accounts for around 45% share of the total installed capacity of advanced energy storage systems as of 2015. Government participation and increasing investments in grid storage projects have fuelled the growth of the region’s grid energy storage market.
Alevo, AES Energy Storage, EnSync, GE and LG Chem are the top players in the market.
New market research report “Global Advanced Energy Storage Systems Market 2016-2020” elaborated by Infiniti Research offers a detailed analysis of the present-day scenario and the growth prospects of the world advanced energy storage systems sector, and segments it based on technology and geography. The study presents market growth and size estimates alongside forecast figures; canvasses key market drivers and challenges as well as their impact on the sector; and limelights the trends prevailing in the market. In addition, the report discusses the prominent market players and gives a detailed picture of the overall competitive landscape.
Global Advanced Energy Storage Systems Market 2016-2020
Date: December, 2015
Price: US$ 2,500.00
More studies by the publisher can be found at Infiniti Research page.