Press release
Advanced Energy Storage Market Poised to Grow at Highest Revenue Till 2026 | Complete Analysed Report
Advanced Energy Storage
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Key companies covered as a part of this study include ABB Ltd., LG Chem, Ltd., Samsung SDI Co., Ltd, General Electric Company, and Tesla, Inc.
Market Dynamics
Increasing adoption of electric vehicles has resulted in an increase in demand for advanced energy system globally. The transportation segment dominates the advanced energy system market.
The demand for AES is expected to increase over the forecast period due to increasing use of lithium-ion batteries in electric vehicles. Lithium-ion batteries offer various advantages such as high energy density when compared to other batteries. Moreover, these batteries do not require priming, as compared to other batteries and maintenance costs are low.
Asia Pacific held the dominant position in market in 2016 and the region is expected to retain its dominance during 2017-2025. High requirement of electricity in the emerging economies is a major factor for the growth of the global AES market in the Asia Pacific region.
The trend is expected to continue during the forecast period. Increasing government regulations supporting the use of renewable energy is a major driving factor for AES. Manufacturers are focusing on introducing new electric car models in order to increase market share.
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Segmentation
Global Advanced Energy Storage Market, By Application
Transportation
Grid Storage
Global Advanced Energy Storage Market, By Technology,
Electro Chemical
Lithium-Ion Battery
Lead Acid Battery
Sodium Sulfur (NAS) Battery
Flow Battery
Nickel Metal Hydride (NIMH) & Nickel Cadmium Battery (NICD)
Thermal Storage
Thermo Chemical Energy Storage
Sensible Heat Thermal Energy Storage
Latent Heat Thermal Energy Storage
Mr. Shah
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