Brooklyn, NY -- (SBWire) -- 03/09/2018 --Of late, the focus on energy conservation has increased substantially, leading to a rise in the demand for energy storage solutions. This, in turn, has led to an exceptional growth in the global market for electrical energy storage (EES). The tremendous surge in the grid scale energy storage industry, developments in renewable energy power generation, price decrease in lithium-ion batteries, and the rising application of energy storage in a number of end-use industries. The increasing number of government initiatives to generate power using renewable energy sources and storing it a cost-effective manner is also supporting this market considerably.
Since electrical energy storage assists in decreasing the cost of a power system infrastructure, such as distribution and transmission lines and transformers using load levelling over the peak time, its application is likely to increase significantly in the years to come. Also, as electrical energy storage is an important component of a smart micro-grid, its demand is likely to increase manifold in the near future. The support by federal policy for storage of energy is the key trend in the global market. The governments in several economies are concentrating on implementing regulations aimed at increasing general consciousness towards energy conservation in order to exploit its commercial potential. For example, recently, the Smart Grid Smart City Project was executed in Austria to showcase the advantages of various smart grid technologies. Another example is of California, where the California Public Utilities Commission has planned to set up a number of targets for the purchase of energy storage systems under the law of the land.
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Rising Demand for BTM Energy Storage Storages to Support Market's Growth
The global market for electrical energy storage is witnessing a noticeable rise in the uptake of behind-the-meter (BTM) energy storage systems. These energy storage systems are generally utilized by large enterprises and in industries, which deploy battery storage systems on-premise, that is, behind-the-meter. Since BTM energy storage installations has gained popularity as an efficient tool for industry users looking for reducing the overall costs incurred in sourcing an electricity connection, their demand is likely to increase in the near future. With a large pool of enterprises interested in the deployment of BTM energy storages, the market is expected to witness a significant surge in the years to come.
On the other hand, the worldwide market for electrical energy storage may face a severe challenge from the uncertain regulatory framework. The presence of an uncertain regulatory framework at the EU level may hamper the growth of this market over the next few years. Although energy storage can create significant value in a short span, uncertain regulatory framework limits complete accessibility of energy storage, impacting the sales of electrical energy storage in the long run.
Leading Players to Focus on Strategic Partnerships to Expand Reach
Primus, LG Chem, Samsung SDI, Beacon, Toshiba, NGK, NEC, and BYD are some of the leading players in the global market for electrical energy storage. The business structure of this market is highly competitive. Currently, players are focusing on technological advancements to strengthen their position in this market. They are likely to increase their involvement in strategic partnerships to expand their reach in the years to come.
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Table of Contents
Global Electrical Energy Storage (EES) Sales Market Report 2018
1 Electrical Energy Storage (EES) Market Overview
1.1 Product Overview and Scope of Electrical Energy Storage (EES)
1.2 Classification of Electrical Energy Storage (EES) by Product Category
1.2.1 Global Electrical Energy Storage (EES) Market Size (Sales) Comparison by Type (2013-2025)
1.2.2 Global Electrical Energy Storage (EES) Market Size (Sales) Market Share by Type (Product Category) in 2017
1.2.3 Physical
1.2.4 Electromegnetic
1.2.5 Chemical
1.3 Global Electrical Energy Storage (EES) Market by Application/End Users
1.3.1 Global Electrical Energy Storage (EES) Sales (Volume) and Market Share Comparison by Application (2013-2025)
1.3.2 Industrial
1.3.3 Commercial
1.3.4 Residential
1.3.5 Military
1.3.6 Others
2 Global Electrical Energy Storage (EES) Competition by Players/Suppliers, Type and Application
2.1 Global Electrical Energy Storage (EES) Market Competition by Players/Suppliers
2.1.1 Global Electrical Energy Storage (EES) Sales and Market Share of Key Players/Suppliers (2013-2018)
2.1.2 Global Electrical Energy Storage (EES) Revenue and Share by Players/Suppliers (2013-2018)
2.2 Global Electrical Energy Storage (EES) (Volume and Value) by Type
2.2.1 Global Electrical Energy Storage (EES) Sales and Market Share by Type (2013-2018)
3 United States Electrical Energy Storage (EES) (Volume, Value and Sales Price)
3.1 United States Electrical Energy Storage (EES) Sales and Value (2013-2018)
3.1.1 United States Electrical Energy Storage (EES) Sales and Growth Rate (2013-2018)
3.1.2 United States Electrical Energy Storage (EES) Revenue and Growth Rate (2013-2018)
3.1.3 United States Electrical Energy Storage (EES) Sales Price Trend (2013-2018)
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Need for Energy Conservation to Increase Sales of Electrical Energy Storages