Energy Storage Systems Market (By Technology: PHS, Electrochemical, Electromechanical, Thermal) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Category : Energy and Power | Delivery Format : PDF | Status: Published | Pages : 160

Introduction

The worldwide energy storage systems market’s size is anticipated reach 211,823 MW by 2026 and the market is expected to display a CAGR of 2.2% during the estimated years. The market is driven by surge in the demand for the smart home across the world.

Market Dynamics

Growing consumer mindfulness in regards to energy effectiveness in residential and commercial buildings is required to be a conspicuous factor driving the new development in coming years. Increasing prerequisite of persistent power supply and efficient grid and load management is foreseen to additionally fuel the development. Rising consumer awareness about effectual energy consumption paired with increasing need for smart homes with viable load management is anticipated to drive the demand. Rising demand from electric utilities, on account of increasing need for distributed energy integration with the main grid, is expected to drive the development over the prediction period.

Market Insights

Expanding acknowledgment of hybrid and electric vehicles couple with the government incentives offered for advancing EV innovation is anticipated to support development of electric vehicle and energy storage system industry. While battery services are yet to improve and outperform the gasoline fueling infrastructure, unstable costs of gas are relied upon to decidedly impact the demand for electric vehicles over the estimated period.

Governments over the globe are finding a way to put effectively in sustainable power innovations. Endeavours are being taken to utilize electrochemical storage for transportation purposes. Organizations including Tesla are producing cars, for example, Tesla Roadster, Model S, Model X, and Model 3 dependent on sustainable energy. These vehicles keep running on the electricity generated utilizing batteries and they have been generally acknowledged over the globe.

Market Segmentation

Market By Technology

  • PHS
  • Electrochemical
  • Electromechanical
  • Thermal

Market By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Chile
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Regional Insights

Asia Pacific drove the worldwide market with a storage capacity exceeding surpassing 81 GW in 2017. Up and coming PHS projects are foreseen to help the area development over the estimate time frame. Rising power utilization has brought about the requirement for storage systems in China, Japan, and Southeast Asia. Growing requirement for energy the executives in utility-scale ventures and peak load requirement are relied upon to drive the need for different ESS, for example, batteries, CAES, and flywheel.

Spain, Switzerland, Germany, France, Italy, and Austria represented a storage capacity limit of over 6.6 GW in 2017. Be that as it may, the huge market entrance of existing hybrid and pure renewable energy technologies in Germany and U.K. is probably going to drive need in potential areas over these nations.

Market Participants

AltairNano; GE; The Furukawa Battery Co., Ltd.; Maxwell Technologies, Inc.; Electrovaya; Active Power; EnSync; Furukawa Battery; and Fluence; Saftarenoteworthy companies operating in the worldwide energy storage systems market.


Related Reports

PV Inverter Market (By Product: String, Central, Micro, Other; By End Use: Residential, Commercial & Industrial, Utilities) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global PV inverter market size is expected to worth around US$ 12.1 billion by 2026 and forecasted to grow at a CAGR of 8.1% over the forecast time frame 2019 to 2026. The report provides analysis of global PV Inverter market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights Growing legislative worry to mitigate GHG emissions along with

Floating Liquefied Natural GAS (FLNG) Market ( By Technology: LNG EPSO, FSRU; By Capacity: Small Scale, Mid Scale, Large Scale; ) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global floating liquefied natural gas (FLNG) market is forecasted to grow at striking CAGR around 5.2% over the forecast time frame and reach around US$ 17.5 billion by 2026. The report provides analysis of global floating liquefied natural gas (FLNG) market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights Increasing demand for clean fu

Marine Engines Market (By Fuel: LNG, Hybrid, MDO, MGO, Others; by Power: 10,000-20,000 HP, > 20,000 HP, 5,000-10,000 HP, 1,000-5,000 HP, < 1,000 HP; by Technology: High Speed, Moderate Speed, Low Speed; By Propulsion: 4-stroke, 2-stroke; By Application: Recreational, Offshore, Commercial, Navy, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global marine engines market size is expected to reach around US$ 14.4 billion by 2026 and anticipated to grow at a CAGR of 4.5 % over the forecast time period 2019 to 2026. Marine motors are used to power offshore ships, business ships and other naval ships working on a range of fuels, including gas oil, diesel petroleum, hybrids and LNG. The main considerations in item assembly include fuel efficiency, si

Hydraulic Fracturing Market (By Technology: Sliding Sleeve, Plug and Perf; By Material: Proppant, Others; By Application: Tight oil, Shale Gas, CBM, Tight Gas, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global hydraulic fracturing market size is anticipated to hit around US$ 83 billion by 2026 and growing at a CAGR of 11.8% over the forecast time period 2019 to 2026. Hydraulic fracturing is a well-stimulated technique that allows the flux of hydrocarbon to the surface to create fractures in rock formations. Fractures consist of pumping big quantities of fluid at elevated stress, including proppants such as

Offshore Wind Cable Market (By Technology: Inter Array, Export; By Conductor Material: Copper, Aluminum) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global offshore wind cable market size is poised to worth around US$ 3 billion by 2026 and anticipated to grow at a CAGR of 16% from period 2019 to 2026. The report provides analysis of global offshore wind cable market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. Market Insights  The ene

Portable Generators Market (By Product: Gaseous, Diesel; By Power Range: High Power (371 - 450KW), Average Power (21 - 370KW), Low Power (8 - 20KW); By End-use: Oil & Gas, Construction, Commercial, Mining, Residential, Industrial, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global portable generators market is poised to grow at noteworthy CAGR around 4.8 % throughout the forecast period 2019 to 2026 and reach around US$ 5 billion by 2026. Portable generators are used in national, business and industrial applications for electricity generation. The applications covered in the research are electrical generation for live b

Cart Summary