Energy Storage Facts & Figures | Expecting Revolutionary Growth of 20.18% CAGR

Energy Storage Market Research Report- Forecast to 2023

Energy Storage Facts & Figures | Expecting

Revolutionary Growth of 20.18% CAGR

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Copyright Š 2018 Market Research Future.

Energy Storage Market Research Report- Forecast to 2023

1 Summary Energy storage can be described as a technology that provides a preference to source power as and when required without backsliding to conventional energy sources. These energy systems are highly efficient and acts as flexible generation when needed. Energy storage systems can contribute to optimal use of generation and grid assets, and support emissions reductions in several economic sectors.

The growing attention and substantial investment in renewable power energy generation is rigorously driving the global energy storage market. Major economies around the world are highly focusing on developing the renewable energy power generation so as to reduce their dependency on conventional power generation through fossil fuels. Renewable energy currently holds a substantial share in total global energy production. In 2016, World Energy Council quoted that, hydropower accounted for about 30% of the total global installed power generating capacity and about 23% of total global electricity produced.

Key Players: The key players of global energy storage market are AES Corporation (U.S), Tesla Inc. (U.S), General Electric Company (U.S), Voith GmbH (Germany), Sulzer Ltd. (Switzerland), Hydrostor Inc. (Canada), Highview Power Storage (U.K), Linde AG (Germany), Hydrogenics Corporation (Canada) and SolarReserve, LLC. (U.S).

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Copyright Š 2018 Market Research Future.

Energy Storage Market Research Report- Forecast to 2023

3 Scope of the Report: This study provides an overview of the global energy storage market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global energy storage market by its type, by end-user, by regions.

By Type    

Mechanical Thermal Electro-Chemical Chemical

By Regions    

North America Asia Pacific Europe Rest of the Wor

Market Research Analysis: -

Mechanical energy storage segment by type in global energy storage is expected to dominate market in forecast period.

Mechanical energy storage, primarily refers to technologies, which convert electricity to mechanical or potential energy, and then store it as electricity, for later use. Currently, pumped hydro storage (PSH), compressed air energy storage and liquid air energy storage are generally considered the most mature method for electricity storage, with about PSH representing 99% of the currently installed electricity storage capacity. The growing demand for mechanical energy storage from the emerging economies, such as, Spain, Germany, China and India among others, are the key factor for driving the mechanical energy storage segment by type in global energy storage market.

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Copyright © 2018 Market Research Future.

Energy Storage Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.