Advanced Energy Storage

Description

What`s New for 2023?

»Special coverage on Russia-Ukraine war; global inflation; easing of "zero-Covid" policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

»Global competitiveness and key competitor percentage market shares

» Market presence across multiple geographies - Strong/Active/Niche/Trivial

»Online interactive peer-to-peer collaborative bespoke updates

»Access to our digital archives and MarketGlass Research Platform

»Complimentary updates for one year

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Global Advanced Energy Storage Market to Reach 20.1 Thousand Megawatts by 2030

In the changed post COVID-19 business landscape, the global market for Advanced Energy Storage estimated at 11.7 Thousand Megawatts in the year 2022, is projected to reach a revised size of 20.1 Thousand Megawatts by 2030, growing at aCAGR of 7% over the period 2022-2030. Thermal Energy Storage, one of the segments analyzed in the report, is projected to record 8.1% CAGR and reach 10.2 Thousand Megawatts by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electrochemical Energy Storage segment is readjusted to a revised 6.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at 3.5 Thousand Megawatts, While China is Forecast to Grow at 6.3% CAGR

The Advanced Energy Storage market in the U.S. is estimated at 3.5 Thousand Megawatts in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of 3.4 Thousand Megawatts by the year 2030 trailing a CAGR of 6.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.6% and 5.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.

Select Competitors (Total 94 Featured):

ABB Ltd.
Active Power, Inc.
AES Energy Storage, LLC
Alevo Group S.A.
Altair Nanotechnologies, Inc.
Amber Kinetics, Inc.
Areva
Ashlawn Energy, LLC
Axion Power International, Inc.
Beacon Power, LLC
BYD Co. Ltd.
Calnetix Technologies, LLC
Dresser-Rand Group, Inc.
ECOULT
Electrochaea GmbH
Encell Technology, Inc.
EnSync Energy Systems, Inc.
Exide Technologies
General Electric Company
Gridflex Energy, LLC
Highview Enterprises Ltd.
Hitachi, Ltd.
Hyper Tech Research, Inc.
IMS group AS
ITM Power Plc
Kokam Co., Ltd
Leclanche SA
LG Chem
LightSail Energy
Maxwell Technologies, Inc.
McPhy Energy S.A.
NEC Energy Solutions
NGK Insulators, Ltd.
Proton OnSite
Redflow Limited
Saft Groupe S.A.
Samsung SDI Co., Ltd.
Siemens AG
Temporal Power
Tesla, Inc.
Tianjin Lishen Battery Co., Ltd.
Toshiba International Corporation
ViZn Energy Systems, Inc.

Product Code: MCP-7711

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Rising Share of Intermittent Sources of Energy in Utility Energy Generation Portfolio: The Cornerstone for the Growth of Utility Grade Advanced Energy Storage Technologies
- Recent Market Activity
- Review of Renewable Energy Projects Undertaken Worldwide and Regulations Supporting Renewable Electricity-to-Grid Integration
- Declining Cost of Wind and Solar Power Make Renewables an Important Part of Utility Energy Portfolio
- Escalating Climate Change Adds Urgency to the Renewable Energy Revolution Underway in the Global Economy
- How the Renewable Energy Boom Benefits Advanced Energy Storage Technologies
- Despite Declines in Renewable Investments, Outlook for Advanced Energy Storage Remains Bright
- Prolonged Softness in Oil Prices: What It Means for Renewable-to-Grid Integration
- Market Outlook
- Advanced Energy Storage - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- ABB Ltd. (India)
- Active Power, Inc. (USA)
- AES Energy Storage, LLC (USA)
- Alevo Group S.A. (Switzerland)
- Altair Nanotechnologies, Inc. (Canada)
- Amber Kinetics, Inc. (USA)
- Areva (France)
- Ashlawn Energy, LLC (USA)
- Axion Power International, Inc. (USA)
- Beacon Power, LLC (USA)
- BYD Co. Ltd. (China)
- Calnetix Technologies, LLC (USA)
- ECOULT (Australia)
- Electrochaea GmbH (Germany)
- Encell Technology, Inc. (USA)
- EnSync Energy Systems, Inc. (USA)
- Exide Technologies (USA)
- General Electric Company (USA)
- Gridflex Energy, LLC (USA)
- Highview Enterprises Ltd. (UK)
- Hitachi, Ltd. (Japan)
- Hyper Tech Research, Inc. (USA)
- IMS group AS (Norway)
- ITM Power Plc (UK)
- Kokam co., Ltd (Korea)
- Leclanche SA (Switzerland)
- LG Chem (Korea)
- LightSail Energy (USA)
- Maxwell Technologies, Inc. (USA)
- McPhy Energy S.A. (France)
- NEC Energy Solutions (Japan)
- NGK Insulators, Ltd. (Japan)
- Proton OnSite (USA)
- Redflow Limited (Australia)
- Saft Groupe S.A. (France)
- Samsung SDI Co., Ltd. (South Korea)
- Siemens AG (Germany)
- Dresser-Rand Group, Inc. (USA)
- Temporal Power (Canada)
- Tesla, Inc. (USA)
- Tianjin Lishen Battery Co., Ltd. (China)
- Toshiba International Corporation (USA)
- ViZn Energy Systems, Inc. (USA)
3. MARKET TRENDS & DRIVERS
- Major Market Trends and Drivers
- Rising Investments in Energy Storage Projects Bodes Well for the Growth of Advanced Energy Storage Technologies
- Aging Energy Infrastructure Drives Opportunities for Energy Storage as a Method of Modernizing Energy Grids
- Are Batteries Ready for Mass Commercialization in Grid-Level Energy Storage?
- "Value Stacking": A Vital Product Development & Design Strategy to Counter the High CAPEX of Battery Energy Storage Technologies
- Lithium Ion (Li-ion) Batteries: The Leader in Utility-Scale Applications
- Robust Surge in Solar and Wind Farms Throws the Focus Squarely on Grid Stability
- Energy Storage Assets Remain Vital Towards Enhancing the Operation of Smart Grids
- Flywheel Systems Emerge as a Reasonable Alternative to Batteries Uniquely Suited to Utility-Scale Applications
- Large Capacity Sodium Sulfur Battery Grow in Prominence as a Promising Clean Energy Technology
- CAES Systems to Offer Utility Grids Cost-Effective Bulk Storage
- LAES Promises Environmentally Neutral Grid Scale Energy Storage without Geographical Constraints
- SMES: A Promising Advanced Energy Storage Technology
- Hydrogen Storage Offers Seamless Integration of Wind and Solar Energy into the Grid
- Continuous Innovations Push a Bevy of Exciting Storage Technologies Closer to Commercialization
- Although Lower Than Pre-Recession Levels, World Demand for Energy Will Remain a Key Driver of Growth
4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Recent Past, Current & Future Analysis for Advanced Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 2: World 8-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2023 & 2030
- TABLE 3: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 4: World 8-Year Perspective for Thermal Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 5: World Recent Past, Current & Future Analysis for Electrochemical Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 6: World 8-Year Perspective for Electrochemical Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 7: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 8: World 8-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 9: World Recent Past, Current & Future Analysis for Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 10: World 8-Year Perspective for Transportation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 11: World Recent Past, Current & Future Analysis for Grid Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 12: World 8-Year Perspective for Grid Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 13: World Advanced Energy Storage Market Analysis of Annual Sales in Megawatts for Years 2014 through 2030

III. MARKET ANALYSIS

UNITED STATES
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
- TABLE 14: USA Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 15: USA 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 16: USA Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 17: USA 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
CANADA
- TABLE 18: Canada Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 19: Canada 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 20: Canada Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 21: Canada 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
JAPAN
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
- TABLE 22: Japan Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 23: Japan 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 24: Japan Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 25: Japan 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
CHINA
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
- TABLE 26: China Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 27: China 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 28: China Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 29: China 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
EUROPE
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
- TABLE 30: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Megawatts for Years 2022 through 2030 and % CAGR
- TABLE 31: Europe 8-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2023 & 2030
- TABLE 32: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 33: Europe 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 34: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 35: Europe 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
FRANCE
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
- TABLE 36: France Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 37: France 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 38: France Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 39: France 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
GERMANY
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
- TABLE 40: Germany Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 41: Germany 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 42: Germany Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 43: Germany 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
ITALY
- TABLE 44: Italy Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 45: Italy 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 46: Italy Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 47: Italy 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
UNITED KINGDOM
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
- TABLE 48: UK Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 49: UK 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 50: UK Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 51: UK 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
REST OF EUROPE
- TABLE 52: Rest of Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 53: Rest of Europe 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 54: Rest of Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 55: Rest of Europe 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
ASIA-PACIFIC
- Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
- TABLE 56: Asia-Pacific Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 57: Asia-Pacific 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 58: Asia-Pacific Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 59: Asia-Pacific 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030
REST OF WORLD
- TABLE 60: Rest of World Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 61: Rest of World 8-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2023 & 2030
- TABLE 62: Rest of World Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2022 through 2030 and % CAGR
- TABLE 63: Rest of World 8-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2023 & 2030

Advanced Energy Storage

Description

Table of Contents

TABLE OF CONTENTS

I. METHODOLOGY

II. EXECUTIVE SUMMARY

III. MARKET ANALYSIS

IV. COMPETITION