Transparency Market Research

Advanced Energy Storage Systems Market Global Market Opportunity Assessment Study 2024

Transparency Market Research has published a new report "Advanced Energy Storage Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024" to its report store.


Albany, NY -- (SBWIRE) -- 12/28/2016 -- The global advanced energy storage systems market is characterized by the presence of companies ranging from start-ups to well-entrenched multinationals. As a result, the market comprises of a range of technologies at different maturity levels. The progress of the global market for advanced energy storage systems is to a great extent tied up with a nation's policies and economic situations and the technological innovations. Going forward, the competition in the market will heat up on account of the emergence of enhanced sodium-sulfur, Li-ion, and advanced LAB products manufactured by the prominent industry players.

In order to study the market in depth, the report has segmented it based on various parameters. For instance, the report classifies the market into the following seven energy segments: electricity generation, fuel production, transportation, buildings, industry, fuel delivery, and electricity delivery and management. Technology-wise, it has segmented the market into flywheels, fuel cells, pumped hydro, batteries, superconducting magnets (SMES), compressed air energy storage (CAES), and super capacitors.

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Global Advanced Energy Storage Systems Market: Trends and Opportunities

Driving the demand for advanced energy storage systems is the rising pace of installation of smart grids, increasing thrust on renewable energy, favorable initiatives such as funding by the government, and soaring popularity of electric and hybrid vehicles. In the near future, the market would continue treading on a solid growth path on the back of considerable increase in demand for energy.

As per the International Energy Outlook 2013, the world energy consumption is slated to increase by 56% from 2010 to 2040. This will likely propel energy generation thereby further boosting the global market for energy storage systems. This major thrust will help the market overcome the headwinds provided by high costs of installation and operation of storage systems. The robust growth scope of renewable energy due to energy conservation policies is slated to further boost the market for advanced energy storage systems.

Global Advanced Energy Storage Systems Market: Region-wise Outlook

Geographically, the global market for advanced energy storage can be divided into Europe, North America, Asia Pacific, and the Rest of the World. Among them, Asia Pacific is a prominent market on account of the rapid pace of adoption of energy storage systems in developing countries of the region. This in turn has been brought about by the increasing emphasis on renewable energy installations and growth in the related market for electric cars. China is a major market in the region vis-à-vis manufacture and sale of energy storage systems on account of the presence of prominent storage systems manufacturers in the country. Asia Pacific is predicted to demonstrate good growth in the coming years too.

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Companies Mentioned in the Research Report:

The key players operating within the global advanced energy storage market currently include Altair Nanotechnologies Inc., Active Power, Inc., ., Energizer Holdings Inc., BYD Company Ltd Electrovaya Inc., Maxwell Technologies, China Bak Battery Inc., Nippon Chemi-Con Corporation, Exide Technologies, Toshiba Corporation, the Furukawa Battery Co. Ltd., Sony, Valence Technology, and Hitachi.

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