New York, NY -- (SBWIRE) -- 02/20/2019 -- Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.
A variety of grid scale energy storage technologies are known to the industry and can be broadly categorized based on the type of energy being stored. Pumped hydro energy storage (PHES) is a well-established energy storage technique; however, because of known challenges, various other energy storage techniques, backed by public and private lending, have surfaced over the last decade. For a market such as energy storage, which is linked to the economy of a country, initiatives related to policy decisions and mass awareness play a key role in the growth. Some countries have introduced reforms / amendments in the policies to encourage the market for energy storage, while others are still debating on it. The White House Summit 2016 is a recent example of such initiatives. At the summit, a range of utility, industry and government storage commitments were highlighted to signify the importance of this subject. Post this, the Federal Energy Regulatory Commission (FERC) started working on re-evaluating some of the policies to encourage energy storage in the US.
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At the time of release of this study, policies favoring renewable energy over other sources were in place in about 50 countries. The common theme across these policies is priority dispatch of electricity from renewable sources, special feed-in tariffs, quota obligations for renewable energy and energy tax exemptions. In addition, legal bindings / agreements, such asCOP21, to tackle climate change are encouraging the use of renewable energy, which, in turn, is likely to drive the energy storage industry.
The Grid Scale Energy Storage market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Grid Scale Energy Storage.
This report presents the worldwide Grid Scale Energy Storage market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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The following manufacturers are covered in this report:
ABB
Beacon Power
Hydrostor
EnerVault
GE
Samsung SDI
S&C Electric
SustainX
Grid Scale Energy Storage Breakdown Data by Type
Pumped Hydroelectric Storage System
Thermal Storage
Battery Storage
Compressed Air Energy Storage
Flywheel Storage
Molten Salt Storage
Grid Scale Energy Storage Breakdown Data by Application
Mechanical Energy
Chemical Energy
Electrochemical Energy
Thermal Energy
Electromagnetic Energy
Grid Scale Energy Storage Production by Region
United States
Europe
China
Japan
Other Regions
Grid Scale Energy Storage Consumption by Region
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Central & South America
Brazil
Rest of South America
Middle East & Africa
GCC Countries
Turkey
Egypt
South Africa
Rest of Middle East & Africa
The study objectives are:
To analyze and research the global Grid Scale Energy Storage status and future forecastinvolving, production, revenue, consumption, historical and forecast.
To present the key Grid Scale Energy Storage manufacturers, production, revenue, market share, and recent development.
To split the breakdown data by regions, type, manufacturers and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Grid Scale Energy Storage :
History Year: 2014 - 2018
Base Year: 2018
Estimated Year: 2019
Forecast Year: 2019 - 2025
This report includes the estimation of market size for value (million USD) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Grid Scale Energy Storage market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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