Grid Scale Energy Storage Technologies Market Analysed & Forecast by Roots Analysis in Its New Report Available at MarketPublishers.com24 May 2017 • by Natalie Aster
LONDON – At present, pumped hydro energy storage contributes around 96% of the global total energy storage capacity. But, certain environmental and geographical constraints associated with it could restrain its growth in the long run. Therefore, stakeholders are involved in the development of new energy storage technologies to get over the limitations of conventional systems.
Rising grants and investments received by companies active in the energy storage market to support their research and development activities present the key growth driver for the years ahead. Besides, favourable governmental policy decisions also encourages positive outlook for the energy storage market.
Factors like escalating adoption of renewable energy sources, high electricity charges and limitations of conventional energy storage systems are predicted to fuel the demand for energy storage systems.
Today, more than 170 grid scale energy storage technologies (except PHES) are under development or already commercially available across various regions globally.
The popularity of battery energy storage systems is gaining momentum, and this sector is anticipated to see sustainable growth in the coming years once the cost challenges are overcome. The majority of market players are engaged in the development of different types of batteries for grid scale applications.
At present, North America and Europe takes lead in the worldwide market for grid scale energy storage technologies, this trend is poised to sustain in the long run.
New in-demand report by Roots Analysis, titled “Grid Scale Energy Storage Technologies Market, 2017 - 2030”, gives an all-round overview of the current market landscape as well as points out future growth prospects for the near future. The study covers the currently commercially available large scale energy storage technologies and also technologies under development. This publication includes a snapshot of the recent industry developments, discusses important energy management approaches, touches upon the competitive environment and gives data on the top players.
Visit the Roots Analysis catalogue at MarketPublishers.com to get access to many other research reports created by the publisher.