Pune, India, March 15, 2022 (GLOBE NEWSWIRE) -- According to reliable estimates, global energy storage market was worth USD 64.96 billion in 2021 and is anticipated to garner lucrative returns by the year 2027.
Notably, aforementioned insights will assist business players, manufacturers, and other stakeholders in developing solid plans that will generate significant profits in the forthcoming years.
In-depth segmentation studies encompassing type terrain and end-user scope are also offered for a comprehensive picture of the industry. The research literature represents the highest potential across various verticals, as well as a thorough examination of the key regions including North America, Europe, and Asia Pacific. At last, several tactics such as strategic alliances and innovative product development are considered to assist stakeholders in making well-informed decisions. The study also includes a top-to-bottom overview of the industry's supply chain.
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The industry is primarily driven by growing environmental concerns, rising government support, rapid urbanisation, and increasing demand for clean energy.
Market segment overview:
Based on type terrain, the market is divided into thermal energy storage (TES), pumped storage hydroelectricity (PSH), batteries, and others. Among these, the batteries segment holds the largest revenue share at present and is anticipated to grow at a rapid rate during the forecast timeframe, owing to rising demand for lithium-based batteries in EVs, ESS systems, and extensive employment of battery storage in electric vehicles and portable devices.
In terms of end user scope, global energy storage industry is branched into commercial, industrial, and residential. Out of which, the industrial segment holds a significant share at present and is projected to grow with a considerable CAGR during the analysis timeframe, due to escalating manufacturing of EVs to meet consumer demand.
Regional scope:
On the regional front, the market trends are studied across North America (U.S., Canada), Europe (UK, Germany, France, Italy) and Asia Pacific (China, Japan, Australia, India). Among these, Asia Pacific industry held substantial revenue share in 2021 and is anticipated to grow considerably during the forecast duration, owing to increasing population in the region, leading to surge in demand for renewable energy storage.
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Competitive dashboard:
Considering the competitive hierarchy, Wärtsilä Oyj Abp, Powin Energy Corporation, Fluence Energy, General Electric Company, BYD Co. Ltd., GS Yuasa Corporation, LG Chem Ltd., Toshiba Corporation, Panasonic Corporation, and Tesla Inc. are the major players in global energy storage market. To improve their position, these industry giants are pursuing mergers & acquisitions, collaborations & partnerships, and creative launches.
Global energy Storage Market, by Type (Revenue, USD Billion, 2017-2027)
- Thermal Energy Storage (TES)
- Pumped Storage Hydroelectricity (PSH)
- Batteries
- Others
Global energy Storage Market, by End-User (Revenue, USD Billion, 2017-2027)
- Commercial
- Industrial
- Residential
Global energy Storage Market, Geographical Fragmentation (Revenue, USD Billion, 2017-2027)
North America
- U.S.
- Canada
Europe
- UK
- Italy
- Germany
- France
Asia Pacific
- India
- China
- Japan
- Australia
Global energy Storage Market, Company Profiles (Revenue, USD Billion, 2017-2027)
- Wärtsilä Oyj Abp
- Powin Energy Corporation
- Fluence Energy
- General Electric Company
- BYD Co. Ltd.
- GS Yuasa Corporation
- LG Chem Ltd.
- Toshiba Corporation
- Panasonic Corporation
- Tesla Inc.
Table of Content:
1. Scope, Research Methodology and Executive Summary
1.1 Research Methodology
1.2 Executive Summary
2. Strategic Recommendations
3. Global Energy Storage Market: Product Outlook
4. Global Energy Storage Market: Sizing and Forecast
4.1 Market Size, By Value, 017-2027
4.2 Impact of COVID-19 on Global Energy Storage Market
5. Global Energy Storage Market Segmentation By Type and By End User
5.1 Competitive Scenario of Energy Storage Market: By type
5.1.1 Batteries - Market Size and Forecast (2017-2027)
5.1.2 Pumped-storage Hydroelectricity (PSH) - Market Size and Forecast (2017-2027)
5.1.3 Thermal Energy Storage (TES) - Market Size and Forecast (2017-2027)
5.1.4 Others - Market Size and Forecast (2017-2027)
5.2 Competitive Scenario of Energy Storage Market: By End User
5.2.1 Industrial?? Market Size and Forecast (2017-2027)
5.2.2 Commercial ?? Market Size and Forecast (2017-2027)
5.2.3 Residential ?? Market Size and Forecast (2017-2027)
6. Global Energy Storage Market: Regional Analysis
6.1 Competitive Scenario of Energy Storage Market: by Region
7. America Energy Storage Market: An Analysis (2017-2027)
7.1 America Energy Storage Market: Size and Forecast (2017-2027), by Value
7.2 Americas Energy Storage Market?? Prominent Companies
7.3 Market Segmentation By type (Batteries, Pumped-storage Hydroelectricity (PSH), Thermal Energy Storage (TES) and others)
7.4 Market Segmentation by End User (Industrial, Commercial and Residential)
7.5 America Energy Storage Market: Country Analysis
8. Europe Energy Storage Market: An Analysis (2017-2027)
8.1 Europe Energy Storage Market: Size and Forecast (2017-2027), By Value
8.2 Europe Energy Storage Market - Prominent Companies
8.4 Market Segmentation By type (Batteries, Pumped-storage Hydroelectricity (PSH), Thermal Energy Storage (TES) and others)
8.5 Market Segmentation by End User (Industrial, Commercial and Residential)
9. Asia Pacific Energy Storage Market: An Analysis (2017-2027)
9.1 Asia Pacific Energy Storage Market: Size and Forecast (2017-2027), By Value
9.2 Asia Pacific Energy Storage Market - Prominent Companies
9.4 Market Segmentation By type (Batteries, Pumped-storage Hydroelectricity (PSH), Thermal Energy Storage (TES) and others)
9.5 Market Segmentation by End User (Industrial, Commercial and Residential)
10. Global Energy Storage Market Dynamics
10.1 Drivers
10.2 Restraints
10.3 Trends
11. Market Attractiveness
11.1 Market Attractiveness Chart of Energy Storage Market - By type, 2027
11.2 Market Attractiveness Chart of Energy Storage Market - By End User, 2027
11.3 Market Attractiveness Chart of Energy Storage Market - by Region, 2027
12. Competitive Landscape
Related Report:
Carbon Capture and Storage Market Size, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 - 2026
Global Carbon capture and storage market is anticipated to encounter lucrative growth owing to the rising expansion opportunities across various sectors like oil & gas, power generation, and chemical processing among others. Carbon capture and storage is a technology which is capable of capturing as well as storing carbon dioxide, preventing it from being realized into the atmosphere. It can capture nearly 90% of the carbon dioxide emissions that are produced from use of fossil fuels in the industrial processes like cement production and in electricity generation. Carbon capture and storage with renewable biomass is among the few carbon abatement technologies, which is used in a mode that is carbon negative, actually extracting carbon dioxide from the atmosphere. From a regional frame of reference, the industry is bifurcated in terms of North America, Europe, Asia Pacific, and RoW. Increasing investments across oil & gas upstream industry on account of escalating energy demands will drive the RoW carbon capture and storage market growth.
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