Dublin, Aug. 10, 2021 (GLOBE NEWSWIRE) -- The "Advanced Energy Storage - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Advanced Energy Storage Market to Reach 12.9 Thousand Megawatts by 2027
Amid the COVID-19 crisis, the global market for Advanced Energy Storage estimated at 8.2 Thousand Megawatts in the year 2020, is projected to reach a revised size of 12.9 Thousand Megawatts by 2027, growing at a CAGR of 6.6% over the analysis period 2020-2027.
Thermal Energy Storage, one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach 6.4 Thousand Megawatts by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrochemical Energy Storage segment is readjusted to a revised 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at 2.4 Thousand Megawatts, While China is Forecast to Grow at 6.2% CAGR
The Advanced Energy Storage market in the U.S. is estimated at 2.4 Thousand Megawatts in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 2.3 Thousand Megawatts by the year 2027 trailing a CAGR of 6.2% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.
Other Technologies Segment to Record 5.5% CAGR
In the global Other Technologies segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 1.4 Thousand Megawatts in the year 2020 will reach a projected size of 2 Thousand Megawatts by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 1.5 Thousand Megawatts by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Rising Share of Intermittent Sources of Energy in Utility Energy Generation Portfolio: The Cornerstone for the Growth of Utility Grade Advanced Energy Storage Technologies
- Recent Market Activity
- Review of Renewable Energy Projects Undertaken Worldwide and Regulations Supporting Renewable Electricity-to-Grid Integration
- Declining Cost of Wind and Solar Power Make Renewables an Important Part of Utility Energy Portfolio
- Escalating Climate Change Adds Urgency to the Renewable Energy Revolution Underway in the Global Economy
- How the Renewable Energy Boom Benefits Advanced Energy Storage Technologies
- Despite Declines in Renewable Investments, Outlook for Advanced Energy Storage Remains Bright
- Prolonged Softness in Oil Prices: What It Means for Renewable-to-Grid Integration
- Market Outlook
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 94 Featured)
- ABB Ltd.
- Active Power, Inc.
- AES Energy Storage, LLC
- Alevo Group S.A.
- Altair Nanotechnologies, Inc.
- Amber Kinetics, Inc.
- Areva
- Ashlawn Energy, LLC
- Axion Power International, Inc.
- Beacon Power, LLC
- BYD Co. Ltd.
- Calnetix Technologies, LLC
- Dresser-Rand Group, Inc.
- ECOULT
- Electrochaea GmbH
- Encell Technology, Inc.
- EnSync Energy Systems, Inc.
- Exide Technologies
- General Electric Company
- Gridflex Energy, LLC
- Highview Enterprises Ltd.
- Hitachi, Ltd.
- Hyper Tech Research, Inc.
- IMS group AS
- ITM Power Plc
- Kokam Co., Ltd
- Leclanche SA
- LG Chem
- LightSail Energy
- Maxwell Technologies, Inc.
- McPhy Energy S.A.
- NEC Energy Solutions
- NGK Insulators, Ltd.
- Proton OnSite
- Redflow Limited
- Saft Groupe S.A.
- Samsung SDI Co., Ltd.
- Siemens AG
- Temporal Power
- Tesla, Inc.
- Tianjin Lishen Battery Co., Ltd.
- Toshiba International Corporation
- ViZn Energy Systems, Inc.
3. MARKET TRENDS & DRIVERS
- Major Market Trends and Drivers
- Rising Investments in Energy Storage Projects Bodes Well for the Growth of Advanced Energy Storage Technologies
- Aging Energy Infrastructure Drives Opportunities for Energy Storage as a Method of Modernizing Energy Grids
- Are Batteries Ready for Mass Commercialization in Grid-Level Energy Storage?
- "Value Stacking": A Vital Product Development & Design Strategy to Counter the High CAPEX of Battery Energy Storage Technologies
- Lithium Ion (Li-ion) Batteries: The Leader in Utility-Scale Applications
- Robust Surge in Solar and Wind Farms Throws the Focus Squarely on Grid Stability
- Energy Storage Assets Remain Vital Towards Enhancing the Operation of Smart Grids
- Flywheel Systems Emerge as a Reasonable Alternative to Batteries Uniquely Suited to Utility-Scale Applications
- Large Capacity Sodium Sulfur Battery Grow in Prominence as a Promising Clean Energy Technology
- CAES Systems to Offer Utility Grids Cost-Effective Bulk Storage
- LAES Promises Environmentally Neutral Grid Scale Energy Storage without Geographical Constraints
- SMES: A Promising Advanced Energy Storage Technology
- Hydrogen Storage Offers Seamless Integration of Wind and Solar Energy into the Grid
- Continuous Innovations Push a Bevy of Exciting Storage Technologies Closer to Commercialization
- Although Lower Than Pre-Recession Levels, World Demand for Energy Will Remain a Key Driver of Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/nu6vgs
