Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global Advanced
Energy Storage Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Advanced Energy Storage Market.
The research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global Advanced Energy Storage Market over the
short as well as long period of time. A detailed presentation of forecast, trends,
and dollar values of global Advanced Energy Storage Market is offered. In
accordance with the report, the global Advanced Energy Storage Market is
projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Energy
Storage Systems, such as lithium-ion batteries, is a technology that can
efficiently and conveniently store numerous sources of energy that can be used
as needed. These systems are undergoing a constant technical revolution that
enables them to overcome traditional energy supply limitations. Advanced Energy
Storage may be used to convey energy and grids can be used to store it. The AES
system is a developing technology that is crucial to the energy sector's growth
in the twenty-first century. The energy can be utilized to make semiconductors,
data storage devices, solar cells, and power, among other things. With the
support of AES, the growing need for a big amount of renewable energy may be
addressed. It also enables operators to control the flow of energy sources by
supplying only the quantity of energy required, preventing power usage.
Market Drivers
q Energy
policy in both developed and developing countries are being revised to
accommodate a significant part of the generation produced from renewable energy
sources such as wind and solar. Government financial incentives and associated
returns are expanding renewable energy investments, which is likely to
strengthen the AESS industry.
q
Developing economies around the world are
currently increasing their electric grid infrastructure to meet rising power
demand. The global advanced energy storage market is being driven by the
growing requirement for an uninterrupted power supply along with significant
growth in power demand around the world.
Market Restraints
q The
lack of a legislative and regulatory policy governing AES is a key stumbling
block to the worldwide AES market's expansion. The California State Assembly
enacted Assembly Bill 2514 on June 3, 2010, to construct a smarter, cleaner
electric system and increase the use of renewable energy.
q Lithium-ion
batteries, flow batteries, and sodium-sulfur (NAS) batteries are examples of
energy storage technologies that need a lot of capital to manufacture.
According to research by the Energy Department, the impact of this component is
projected to last for the next 3-4 years.
Opportunities
q Developing
countries, such as India and China, require infrastructure modernization and
grid expansion. There is a pressing need to provide energy to the estimated 30%
of the world's fast-rising population who do not have it. By improving the
grid, advanced energy storage is projected to play a significant role in these
expenditures.
Storage
of energy, for mechanical energy storage, compressed air is an alternative to
pumped hydro. The display displays a potential investment scenario in energy
storage technologies. among other technologies with significant potential
include lithium-ion and lead-based batteries, such as lithium-ion.
Trends
Electric
mobility is a growing trend in the automotive industry that is driving demand
for energy storage systems around the world. Global government agencies such as
the Environmental Government Agencies and others are currently concentrating on
the implementation of carbon dioxide emission restrictions. China, for example,
wants to enhance electric vehicle production. By 2020, China plans to sell
roughly 11.9 million electric vehicles. There is also a global focus on
reducing carbon dioxide emissions and introducing electric vehicles that are
both ecologically benign and functional.
Covid
19 Impact On Advanced Energy Storage Market
The
COVID-19 epidemic has completely altered the situation. The virus's global
spread has compelled countries to adopt preventative precautions. Due to the
closure of enterprises, stores, manufacturing plants, and other industrial and
commercial establishments as a result of the lockdowns enforced by various
governments, the commercial sector's electricity consumption has decreased. The
demand for power is produced by the residential sector, not the commercial
sector, due to employees working from home. This has had a significant impact
on the market's growth.
Segment Covered:
This market
intelligence report on the global Advanced Energy Storage Market encompasses market segments based on resolution, end use,
application and country.
Advanced Energy Storage Market by Application
§ Transportation
§ Grid
Storage
Advanced Energy Storage Market by End-User
§ Residential
§ Non-Residential
Advanced Energy Storage Market by Technology
q Electro Chemical
§ Lithium-ion
battery
§ Lead
Acid battery
§ Sodium Sulfur
(NaS) battery
§ Flow
battery
§ Nickel
Metal Hydride (NiMH) & Nickel Metal Cadmium (NiCd)
q Mechanical
§ Pumped
Hydro
§ Flywheel
§ Compressed
Air Energy Storage (CAES) & Liquid Air Energy Storage (LAES)
q Thermal Storage
§ Thermo
Chemical
§ Sensible
§ Latent
By country/region, the global Advanced Energy Storage
Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q General
Electric Company
q LG
Chem.
q ABB
Ltd.
q AES
Energy Storage, LLC
q Beacon
Power, LLC
q BYD
Company Limited
q Convergent
Energy and Power Inc.
q Green
smith Energy Management Systems
q Eos
Energy Storage
q Seeo,
Inc.
q S&C
Electric Company
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Advanced Energy Storage Market related investment & spending and developments by major
players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
General Electric Company
June 14, 2021 - GE Aviation and Safran today launched a
bold technology development program targeting more than 20 percent lower fuel
consumption and CO2 emissions compared to today’s engines.
General Electric Company
May 24, 2021: Qatalum signed an agreement with GE to
provide five Advanced Gas Path (AGP) upgrade units, maintenance services for a
period of 15 years for equipment at its 1,080 megawatts (MW) power plant, and a
suite of cybersecurity solutions.
General Electric Company
6 May 2021 – GE Healthcare today announced the
acquisition of Zionexa, a leading innovator of in-vivo oncology and neurology
biomarkers that help enable more personalized healthcare.
General Electric Company
March 11, 2021 —GE (NYSE: GE) today announced the launch
of an open Innovation Challenge to call for ideas on how to address power
challenges in Taiwan, in line with the government’s goals to strengthen energy
reliability and sustainability towards a low carbon future in the country.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the
Advanced Energy Storage Market, size of the market USD xxx billion in 2020, and
Compound Annual Growth Rate 6.2% for the period of forecast: 2021-2027
Ø It explains upcoming revenue opportunities across various
market segments and attractive matrix of investment proposition for the said
market
Ø This market intelligence report also offers pivotal insights
about various market opportunities, restraints, drivers, competitive market
strategies of leading market players, emerging market trends, and regional
outlook
Ø Profiling of key market players in the world Advanced
Energy Storage Market is done by taking into account various parameters such as
company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management
authorities and marketers of companies alike to take informed decision when it
comes to launch of Type of models, government initiatives, marketing tactics
and expansion, and technical up gradation
Ø The world market for Advanced Energy Storage Market to
the needs of various stakeholders pertaining to this industry, namely
suppliers, manufacturers, investors, and distributors for gas turbine market.
The research also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø Research methodologies that have been adopted for the
purpose of this study have been clearly elaborated so as to facilitate better
understanding of the reports
Ø Reports have been made based on the guidelines as
mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken
into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a
strong understanding of the investment opportunities in the Advanced Energy
Storage Market
v Identification of key factors driving investment
opportunities in the Advanced Energy Storage Market
v Facilitate decision-making based on strong historic and
forecast data
v Position yourself to gain the maximum advantage of the
industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy
and prospects
v Identify key strengths and weaknesses of important market
participants