San Francisco, 18 April , Energy Storage Systems
Market Size, Share & Trends Analysis Report By Technology (Electrochemical,
Electromechanical, Thermal, Pumped Hydro Storage), By Region, And Segment
Forecasts, 2019 – 2026.
The global energy storage systems market demand is expected to reach a total
capacity of 210,803 MW By 2026, according to a new report by Grand View
Research, Inc. Growing demand for efficient and competitive energy resources
over the last decade has primarily driven the market. It is estimated to
register a CAGR of 2.3% from 2018 to 2026.
Rising consumer awareness
regarding efficient energy consumption coupled with demand for smart homes with
effective load management is expected to play a major role in the development
of energy storage system market. Ascending demand by electric utilities, on
account of need for distributed energy integration with the main grid, is
likely to fuel the growth over the forecast period.
Hybrid systems including
start-stop systems, hybrid vehicles, and e-bikes are expected to present the
strongest growth opportunity for lithium-ion battery manufacturers. Companies
such as AES, GE Renewable, and Altairnano are investing huge capital in R&D
of new technologies within the battery storage segment.
Pumped Hydro Storage (PHS) systems is expected to remain
a dominant segment by 2026 due to ongoing investments to enhancing on-grid
capacity and upgrading energy infrastructure in North America and Asia Pacific.
The segment accounted for over 90% of the global energy storage systems
capacity in 2017.
Access Full Research
Report On Energy Storage Systems Market Analysis:
Further key findings from the report suggest:
·
Electrochemical storage
capacity is projected to be the fastest growing segment with a CAGR of 12.6%
from 2018 to 2026
·
North America is estimated to
expand at a CAGR of 4.0% over the forecast period
·
Asia Pacific energy storage
systems market holds the largest share globally with a cumulative capacity
expected to exceed 102 GW by 2026
·
Electromechanical storage
capacity in Germany was estimated to be 688.2 MW in 2017 and is projected to
register a CAGR of 3.9% over the forecast period
·
Some of the prominent market
players include The Furukawa Battery Co.; GE; Electrovaya; Active Power; Fluence;
Saft; EnSync; Maxwell Technologies, Inc.; and AltairNano.
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the
global energy storage systems market on the basis of technology and region:
Energy Storage Systems
Technology Outlook (Capacity, MW, 2014 - 2026)
·
PHS
·
Electrochemical
·
Electromechanical
·
Thermal
Energy Storage Systems Regional
Outlook (Capacity, MW, 2014 - 2026)
·
North America
o
U.S.
o
Canada
·
Europe
o
France
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Argentina
·
Middle East & Africa
o
South Africa
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-energy-storage-systems-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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