Dublin, July 18, 2024 (GLOBE NEWSWIRE) -- The "Advanced Energy Storage - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Advanced Energy Storage is estimated at 14 Thousand Megawatts in 2023 and is projected to reach 22 Thousand Megawatts by 2030, growing at a CAGR of 6.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
Several other factors are driving the adoption and sophistication of advanced energy storage technologies. The decreasing costs of key components, such as lithium and other raw materials, are making storage solutions more affordable. Increased investment in research and development from both public and private sectors is spurring further innovation and adoption.
Growing environmental awareness among consumers and businesses is driving demand for sustainable energy solutions, while the desire for energy independence, especially in remote or off-grid locations, boosts interest in energy storage systems. Utilities are investing in advanced storage to improve grid resilience and manage load fluctuations more effectively.
Emerging business models like Energy Storage as a Service (ESaaS) are lowering barriers for businesses and residential consumers by offering storage solutions without upfront investments. The convergence of energy storage with the Internet of Things (IoT) allows for real-time data collection and analysis, enhancing operational efficiencies and predictive maintenance capabilities. These factors collectively create a robust ecosystem conducive to the growth and advancement of energy storage technologies, positioning them as integral components of modern energy systems.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Thermal Energy Storage segment, which is expected to reach 11 Thousand Megawatts by 2030 with a CAGR of a 7.5%. The Electrochemical Energy Storage segment is also set to grow at 6.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at 4 Thousand Megawatts in 2023, and China, forecasted to grow at an impressive 6.0% CAGR to reach 3 Thousand Megawatts by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., Active Power, Inc., AES Energy Storage, LLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 299 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 14 Thousand Megawatts |
| Forecasted Market Value by 2030 | 22 Thousand Megawatts |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
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
- Advanced Energy Storage - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Growing Need for Grid Stability and Renewable Integration Drives Storage Solutions
- Advances in Battery Technology Lower Costs and Enhance Efficiency
- Expansion of Electric Vehicle Markets and Associated Energy Storage Demand
- Government Incentives and Policy Support for Clean Energy Technologies
- Innovations in Pumped Hydro Storage and Other Mechanical Storage Techniques
- Rise in Distributed Energy Systems and Residential Energy Storage
- Integration of IoT and Smart Technology for Energy Management Systems
- Market Impact of Global Movements Towards Carbon Neutrality
- Increasing Investment in Research and Development of Next-gen Storage Solutions
- Future Trends in Artificial Intelligence for Optimizing Energy Storage Management
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.
For more information about this report visit https://www.researchandmarkets.com/r/jmodqc
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