Advanced Energy Storage Systems Comprehensive Research Study, Share, Size| Global Top Key Player: Samsung SDI Co. Ltd. , Hitachi Limited, Toshiba Corporation, ABB Limited, Siemens A.G., Alstom, Exide Technologies Industry Analysis Forecast 2018 – 2027
Advanced Energy Storage Systems Global Market – Overview
The global advanced energy storage systems market has witnessed a remarkable growth in the past few years and it has been anticipated that the energy storage systems will grow at the rapid pace during the forecast period. Energy Storage is a very diverse subject areas, it comprises from small to very large systems. Energy storage is broadly segmented into mechanical energy storage, electro-chemical energy storage, thermal storage and chemical storage. Energy storage systems have been dominating the renewable energy market as well conventional market in recent years because of the ability of store the energy in various forms and supply according to end user needs. The energy storage systems are driven by various factors such as evolution in renewable energy power generation, gradual downfall in technology cost and increasing application of energy storage in all end-user industries.
Increasing popularity of electric vehicle is one of the key factors pushing the advanced energy storage system market. Renewable energy sources are becoming more and more popular with the decline in the renewable energy sources, increasing energy arbitrage opportunities and increasing renewable energy installations are other factors that are contributing to the growth of the advanced energy storage market.
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• Yuasa Corporation
• Samsung SDI Co. Ltd.
• Hitachi Limited
• Toshiba Corporation
• ABB Limited
• Siemens A.G.
• Exide Technologies
• L.G. Chem. Limited
• Alevo Group S.A.
• Maxwell Technologies Inc.
In July, 2017 – Siemens AG (“Siemens”) and The AES Corporation (NYSE: AES, “AES”) announced their agreement to form a new global energy storage technology and services company under the name Fluence. The joint venture will bring together AES’ ten years of industry-defining experience deploying energy storage in seven countries with over a century of Siemens’ energy technology leadership and its global sales presence in more than 160 countries.
In February, 2017 – MAN Diesel & Turbo and Karpowership renewed their ongoing partnership to develop Powerships with the utilization of MAN Diesel & Turbo. 18V 51/60 engines.
In November, 2016 – AES Energy Storage, a subsidiary of The AES Corporation (NYSE: AES), showcased two new Advancion battery-based energy storage sites, totaling 37.5 megawatts (MW), in partnership with San Diego Gas & Electric (SDG&E), a leading energy company delivering safe, reliable and clean power.
Advanced energy storage systems Global Market – Segmentation
The scope of global advanced energy storage systems market is segmented into two major segments which are explained below:
• Compressed Air Storage
• Pumped Hydro-power
Regional Analysis of Advanced Energy Storage Systems Market
Asia-Pacific market is expected to dominate the advanced energy storage market with major manufacturing and infrastructural activities being undertaken in this region. Major growth in the electric vehicles market in this region is another factor which is contributing to the growth of the Advanced Energy Storage system market.
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