Market Research Report
Global Advanced Energy Storage Systems Market Size study, by Technology (Electro Chemical Technology, Mechanical Technology, Thermal Storage Technology), by Application (Transportation and Grid Storage) and Regional Forecasts 2021-2027.
|Global Advanced Energy Storage Systems Market Size study, by Technology (Electro Chemical Technology, Mechanical Technology, Thermal Storage Technology), by Application (Transportation and Grid Storage) and Regional Forecasts 2021-2027.|
Published: September 25, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Advanced Energy Storage Systems Market is valued approximately at USD 16.18 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.4% over the forecast period 2021-2027. Growing renewable energy investments and reduced technology cost because of technology advancement and expanded deployment are the factors which are driving the growth of Advanced Energy Storage Systems market. Furthermore, increasing opportunity for commercial and residential applications will be anticipating the growth of market in forecasted period. For instance: In July 2021, Babcock and Wilcox has announced an agreement with US department of energy. According to this, the company will develop long term thermal storage system and other plants in US. However, lack of common codes and standards
may impede market growth over the forecast period of 2021-2027.
Global Advanced Energy Storage Systems market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is a significant region across the world in terms of market share due to rising concerns towards energy security in the region. Whereas North America is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to stringent carbon emission reduction policies in the region.
Major market player included in this report are:
LG Chem, Ltd.
General Electric Company
Samsung SDI Co ltd.
GS Yuasa Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Lead Acid battery
Sodium Sulfur (NaS) battery
Nickel Metal Hydride (NiMH) & Nickel Metal Cadmium (NiCd)
Compressed Air Energy Storage (CAES) & Liquid Air Energy Storage (LAES)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Advanced Energy Storage Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures