The global advanced energy storage market is expected to grow at a promising 5.4% CAGR from 2016 and 2024. Expanding at this rate, the market will reach a valuation of US$1.39 billion by 2024 from US$0.87 billion in 2015.
Albany, NY -- (SBWIRE) -- 07/20/2017 -- The global appetite for electricity is increasing at a rapid pace due to factors such as rapid industrialization, urbanization, and the growing rise in global population. Consequently, the need for energy storage is likely to remain strong for efficiently supplying power to the end-users. The growth for advanced energy storage market is also due to development in renewables energy resources, higher energy demand costs and enhancement of antiquated utility grid networks. Considering this aspect, a new research report with a title "Advanced Energy Storage Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016 – 2024" has been recently added to the vast online repository of Market Research Reports Search Engine (MRRSE). This report on advanced energy storage market analyzes its current status as well as future prospects of the industry across the globe.
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The global advanced energy storage market is expected to grow at a promising 5.4% CAGR from 2016 and 2024. Expanding at this rate, the market will reach a valuation of US$1.39 billion by 2024 from US$0.87 billion in 2015. This report presents a detailed analysis of different factors driving and restraining the global advanced energy storage market. Impact of these factors to the overall market for the forecast period is also covered with data to substantiate research findings. Besides this, the report also includes various opportunities available for market growth over the next few years. Opportunities include untapped or recently explored factors which are expected to drive the advanced energy storage market for the forecast period.
The report includes a detailed segregation of the global advanced energy storage market based on application type into micro grid, on-grid, off-grid and others application segments. On the basis of technology, the global market is segmented into Pumped Hydro, Battery Storage, Flywheel Storage, Thermal Storage and Others. The report further includes comprehensive analysis of all these segments in the regional and global level and forecast based on present and future trends in the market with respect to revenue and volume. Geographically, the market has been segmented into Asia Pacific, North America, Europe, Latin America and Middle East & Africa. Growth for advanced energy storage in each of these regions is analyzed and forecasted for a period of eight years.
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Some of the leading players profiled within the report include EDF Renewables, Schneider Electric, Maxwell Corporation, AES Corporation, LyondellBasell Industries N.V., and INEOS Group AG among others. Several attributes of these players such as business strategies, company overview and major recent developments are also covered in the company profiles section.
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