Press release
Advanced Energy Storage Systems Market 2018-2027 | Yuasa Corporation, Samsung SDI Co. Ltd., Hitachi Limited, Toshiba Corporation, ABB Limited, Siemens A.G., Alstom, Exide Technologies, L.G. Chem. Limited, Alevo Group S.A., Maxwell Technologies Inc.
Market Highlights
The global market for advanced energy storage systems is set to register a strikingly high growth rate during the forecast period (2017-2027), reports Market Research Future (MRFR). Advanced energy storage systems use technologies that convert electricity into energy, store it and then convert it into usable electricity for later use. Basically, the energy storage systems are useful for energy conversion, energy storage, and electricity conversion to consumable power. Simply put, this technology is primarily used to satiate the global appetite for electricity.
Drivers and Restraints
Increasing interest in energy efficiency has gained traction in many industries, such as the automotive industry. Of late, carmakers are switching to electric models from diesel-powered vehicles due to growing concerns about depleting fossil fuels. Car companies are also expanding their infrastructure to enhance their production of electric cars. For instance, in 2018, Mercedes-Benz Energy repurposed a retired coal plant in Germany to manufacture larger number of electric vehicles (EVs) for energy storage purposes.
Apart from this, the increasing investments in renewable sources of energy coupled with various governmental regulations and initiatives supporting the use of renewable energy have augmented the growth of the global AES market to a large extent. For instance, in 2018, the Government of India announced a 10% reduction in Goods and Services Tax (GST) applied on lithium-ion batteries used in electric cars and the raw materials used in manufacture of these batteries. This move will help raise storage capacity and also boost domestic manufacturing in the country.
However, high initial investment cost subject to installation has the potential to deter the ongoing market growth. On the other hand, counteracting this restraining factor is the continuous advancement in technology to develop low-cost system.
Get Sample Copy@ https://www.marketresearchfuture.com/sample_request/1099
Study Objectives of Advanced Energy Storage Systems
- To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Advanced Energy Storage systems market
- To provide insights about factors affecting the market growth
- To Analyze the Advanced Energy Storage systems market based on various factors- price analysis, supply chain analysis, Porters five force analysis.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries- Americas, Asia-Pacific, and Europe , Middle East & Africa
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by technology, by application and by region as well as its sub segments
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, and new product developments in the global Advanced Energy Storage systems market
Industry Trends
Dominion Energy has planned to develop a smarter, stronger and greener energy grid by 2022, that has 3,000 megawatts of new solar and wind. This system will power around 750,000 homes in Virginia. This is a smart grid technology that is highly energy efficient and is priced on the lower side.
Above is an example of a market trend involving a digital technology that allows two-way communication between the utility and its customers, along with sensing along the transmission lines. A smart grid technology is rapidly gaining momentum across the globe, as it reduces peak demand, subsequently lowering electricity rates.
Get Complete Report@https://www.marketresearchfuture.com/reports/advanced-energy-storage-systems-market-1099
Market Segmentation
The global advanced energy storage market is segmented based on application and technology.
Automotive Application to emerge as a major segment
The applications of advanced energy storage systems are power, automotive, and others. A combination of technical enhancements in vehicles and reasonable government policies that encourage vehicle efficiency has propelled the application of advanced energy storage systems in automotive industry.
The Battery Sub-segment to Hold the Largest Market Share
Technology-wise, the market is segmented into batteries, flywheels, compressed air storage, thermal, pumped hydro-power and others. Among these, the batteries segment is leading the advanced energy storage systems market, as it is used for electrification of grid. Moreover, gradual advancement of advanced energy storage technology enhances the battery efficiency. Thereby steeling the position of the battery storage system market.
Regional Analysis
The global advanced energy storage market is spread across the regions of the Americas, Europe, Asia Pacific (APAC) and the Middle East & Africa.
Asia Pacific to be the leading market for advanced energy storage systems
The Asia-Pacific market is estimated to lead the advanced energy storage market throughout the forecast period due to major manufacturing and infrastructural activities being undertaken in the region. Remarkable growth in the electric vehicles market has also catapulted the growth of the advanced energy storage system market in the region.
The Americas region is subjected to strong market performance on account of high demand for lithium-ion technology within the renewable energy trade. The region also makes high demand for grid-connected solutions which bolsters the market growth in the region. The flourishing automotive industry in the countries such as US and Canada along with sound government policies work in favor of the market growth.
The Europe region has accrued a substantial share of the global market owing to installation of island systems that are basically deployed in regions where the power grid is weak and unreliable. Moreover, the region of Europe also boasts of full support from various government bodies for technological innovations.
The markets in Middle East and Africa are growing steadily but not at the same growth rate as other regions. This is due to some regulatory barriers that do not allow the advanced battery storage system to become a mainstream option for the power sector. However, these barriers are being challenged by accelerated need for power quality, and highly sophisticated technology in the region.
Key Vendors
The key vendors in the global market are Yuasa Corporation (Japan), Samsung SDI Co. Ltd. (South Korea), Hitachi Limited (Japan), Toshiba Corporation (Japan), ABB Limited (Switzerland), Siemens A.G. (Germany), Alstom (France), Exide Technologies (U.S.), L.G. Chem. Limited (South Korea), Alevo Group S.A. (U.S.), Maxwell Technologies Inc. (U.S.) and others.
Industry News
• Siam GS Battery is preparing to increase its lead-acid battery production to meet growing demand at home and across Southeast Asia. The company is investing around USD 30 million in the expansion. Li-ion batteries offer benefits in terms of energy density and specific energy and are apt for storage of high amount of energy for a long period
Check Discount@ https://www.marketresearchfuture.com/check-discount/1099
Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Advanced Energy Storage Systems Market 2018-2027 | Yuasa Corporation, Samsung SDI Co. Ltd., Hitachi Limited, Toshiba Corporation, ABB Limited, Siemens A.G., Alstom, Exide Technologies, L.G. Chem. Limited, Alevo Group S.A., Maxwell Technologies Inc. here
News-ID: 1283123 • Views: …
More Releases from Market Research Future (MRFR)
Payment Service Provider Market Projected to Hit USD 140.91 Billion at a 5.48% C …
Market Overview:
The Payment Service Provider (PSP) market has witnessed substantial growth over the past decade, driven by the explosive rise in digital commerce, mobile payments, and cross-border transactions. As businesses strive to streamline payment processes and deliver frictionless experiences to customers, the demand for robust, secure, and scalable PSP solutions has surged.
PSPs serve as intermediaries between merchants and financial institutions, enabling the acceptance of electronic payments via multiple methods…
Boundary Scan Hardware Market Poised for Growth, Reaching USD 3.16 Billion by 20 …
Market Overview:
The Boundary Scan Hardware Market has emerged as a crucial segment within the electronics testing and debugging industry, offering advanced solutions for fault detection and circuit verification in integrated circuits (ICs) and printed circuit boards (PCBs). Leveraging the IEEE 1149.1 standard, boundary scan commonly referred to as JTAG (Joint Test Action Group) provides a non-invasive and efficient testing methodology that minimizes the need for physical probes. Boundary Scan Hardware…
Metaverse for Automotive Market is Expected to Touch USD 123.51 Billion By 2034
Market Overview:
The Metaverse for Automotive Market is redefining how automakers, suppliers, and consumers interact in a digitally immersive world. With the integration of AR/VR, IoT, blockchain, and AI technologies, the automotive industry is stepping into the virtual realm to enhance everything from product design and manufacturing to marketing, sales, and customer service.
The global rise in digital transformation, coupled with increasing consumer demand for interactive and customized experiences, is fueling…
AGV Software Market to Grow at 10.82% CAGR, Hitting USD 6.46 Billion by 2034
Market Overview:
The AGV Software Market is rapidly evolving as industries shift towards intelligent automation and digital transformation in their logistics and material handling operations. AGV software acts as the brain of autonomous vehicles, enabling seamless navigation, scheduling, route optimization, fleet coordination, and task management. With the growing demand for efficient, contactless, and error-free logistics, AGV systems have found significant adoption across warehouses, manufacturing plants, ports, and healthcare facilities. AGV Software…
More Releases for Energy
Green Renewable Energy Market Next Big Thing: Enphase Energy, Bloom Energy, Clea …
Advance Market Analytics published a new research publication on "Green Renewable Energy Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Green Renewable Energy market was mainly driven by the increasing R&D spending across the world.
Get inside Scoop of the…
Business Energy Solution Market Size in 2023 To 2029 | SSE Energy Solutions, BES …
The large-scale Business Energy Solution market report provides valuable insights for clients looking to forecast investments in emerging markets, expand market share, or launch new products. The report presents multifaceted Business Energy Solution market insights that are simplified using established tools and techniques, making it a credible marketing report. Data is presented in a clear and easy-to-understand manner, with graphs and charts to aid comprehension. The report employs integrated approaches…
Decentralized Energy Storage Market Is Booming Worldwide | Fuelcell Energy, Enph …
A new business intelligence report released by AMA with title "Decentralized Energy Storage Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Decentralized Energy Storage Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics…
Waste-To-Energy Technologies Market Top Growing Companies: Xcel Energy, Novo Ene …
Qurate Business Intelligence’s up-to-date research study on Waste-To-Energy Technologies was performed by highly qualified research professionals and industry experts. This is to provide an in-depth analysis on the Waste-To-Energy Technologies. The report is comprehensive and includes over 120 pages. The global energy market is witnessing a shift toward waste to energy technologies due to growing energy demands worldwide, the rapid depletion of conventional sources of energy, and concerns over…
Waste To Energy Market ||Novo Energy Ltd., Hitachi Zosen, Foster Wheeler A.G., S …
Zion Market Research published a new 110+ pages industry research "Global Waste to Energy Market Set For Rapid Growth, To Reach Value Around USD 42.74 Billion By 2024" is exhaustively researched and analyzed in the report to help market players to improve their business tactics and ensure long-term success. The authors of the report have used easy-to-understand language and uncomplicated statistical images but provided thorough information and detailed data on…
In-Pipe Hydro Systems Market | key player - Lucid Energy, Rentricity, Tecnoturbi …
Looking at the current market trends as well as the promising demand status of the “In-Pipe Hydro Systems Market” it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the global market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting…
