Advanced Energy Storage Technologies Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Advanced Energy Storage Technologies Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : July, 2020 | Energy & Mining | PPT format

Report Digest


Global Advanced Energy Storage Technologies Market: Snapshot

By recognizing the role of energy storage systems, several government bodies across the globe have been aiming at building an affordable, reliable, and sustainable power supply structure for catering to the snowballing energy needs of their citizens. The competitive scenario of the global advanced energy storage technologies features acquisitions, mergers, partnerships, and product launches as the most leveraged growth strategies.

For example, in May 2017, Wärtsilä Corporation announced that it is planning to acquire Greensmith Energy Management Systems Inc., a prominent provider of advanced energy storage technology solutions based in the U.S. The strategic acquisition will enable Wärtsilä to ramp up its international footprint in the advanced energy storage technologies market. As the competition between the leading companies operating in the market intensifies, the growth of the market for advanced energy storage technologies is likely to shoot up.

The growth of the global market for advanced energy storage technologies is also being fuelled by the initiatives of different organizations and agencies. For instance, in May 2017, the Advanced Energy Storage Caucus was launched in the U.S. Congress by representatives. Executives from the leading manufacturers, suppliers, and developers of advanced energy storage technologies attended the conference, whose central objective is educating the members about the advantages of these systems.

Such initiatives inform government officials and people at large about how the use of advanced energy storage technologies can transform the way power is generated, distributed, and utilized. Also, the implementation of advanced energy storage removes the hurdles that are associated with higher use of battery storage.

Global Advanced Energy Storage Technologies Market: Overview

Advanced energy storage systems play a crucial role in the power industry. Maintenance of power quality, effective distribution, and proper energy management are some of their unique perceived benefits. They carry out the aforementioned tasks through frequency regulation, mitigating power congestion on grids, and supplying power uniformly in distributed generation. Advanced energy storage technologies first convert electricity into energy, store it, and then convert it back into usable electricity when the need arises. This is because while only a fixed amount of electricity can be generated at a time, the demand for electricity changes all the time.

A report by TMR Research furnishes valuable insights into the global advanced energy storage technologies market by analyzing the key trends and current competitive dynamics. It segments the market based on applications, technologies, and geography. In terms of technologies, for example, it classifies the market into super capacitors, pump hydro storage, batteries, flywheels, compressed air energy storage, and fuel cells. There are also more recent, upcoming technologies such as synthetic gas, super magnet, and hydrogen gas. Among all of these, pump hydro storage has been around for a very long time and dominates the market too. Application-wise, the report segments the market into transportation and grid storage.

Global Advanced Energy Storage Technologies Market: Trends and Opportunities

Spiking daily electricity consumption along with the yawning gap between energy supply and demand has necessitated substantial storage capacity additions. This has been the single-most important factor contributing to the global advanced energy storage technologies market. Other factors driving the market are the burgeoning renewable energy installations and the spurt in demand for hybrid and electric vehicles. Additionally, increasing concerns about greenhouse gas and carbon dioxide emissions is also filliping the global advanced energy storage technologies market. This is because advanced energy storage technologies assist in effectively managing the flow of energy resources thus reducing the need for power generation, thereby bringing about energy conservation.

Advanced energy storage systems have also allowed consumers to manage their electricity needs by using the load shifting technique which helps to bring down costs. Furthermore, other factors including the growing need of smart grid installation and new transmission and distribution grid construction and upgrades has also bolstered the global market for advanced energy storage technologies market.

Global Advanced Energy Storage Technologies Market: Regional Outlook

Depending upon geography, the global market for advanced energy storage technologies can be segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America, among them, is the leading market on account of the soaring popularity of electric vehicles and rising use of grid storage. North America is trailed by Asia Pacific and Europe. Going forward, Asia Pacific is predicted to outshine all other regions in terms of growth rate.

Companies Mentioned in Report

To present an insightful assessment of the competition prevailing in the global market for advanced energy storage technologies, the report profiles companies such as Sony, Nippo Chemi-Con Corp., A123 System LLC, Denso, Hitachi, and Toshiba.

Global Advanced Energy Storage Technologies Market, by Geography

  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years 

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.