Mechanical Energy Storage Market Forecast Report 2017-2023: Global Market to Grow at 6.5% Annually by 2023

Market Research Analysis:

Market Forecast:

Market Research Future published a Half Cooked Research Report on Global Mechanical Energy Storage Market. The Mechanical Energy Storage Market is expected to grow over the CAGR of around 6.5% during the period 2017 to 2023.

Regional Analysis:

Asia-Pacific Region is Expected to Grow at the Fastest Rate:
The mechanical energy storage market in the Asia-Pacific region is currently leading and is followed by Europe and North America market. The rapid industrial development in the countries such as India and China where there are issues with continuous reliable electricity supply, is driving the market for mechanical energy storage. Also R&D and utilization of modern flywheels in China and India with the growing trend of compressing air and storing them it in large repositories, such as underground salt caverns, and releasing it to drive a turbine during periods of demand, will drive mechanical energy storage market.

Market Overview:

Mechanical energy storage has by far been the largest form of energy storage around the world so far as it is comprised of systems such as, pumped hydro storage (PHS), compressed air energy storage (CAES) and flywheels. These systems are extensively used and are beneficial on large scale at various industrial, commercial and residential uses.

Currently, the mechanical energy storage market is in the growth stage. This is due to the increase in demand for power, and cross-border power transmission, global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to restrict carbon emission, will boost the global mechanical energy storage market.

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Market Key Players:

The key players of global mechanical energy storage market are Voith GmbH (Germany), Sulzer Ltd. (Switzerland), DeWalt, (U.S), Ingersoll Rand (U.S), Hitachi, Ltd. (Japan), Porter-Cable (U.S), Kirloskar Pneumatic Co Ltd. (India), Atlas Copco AB (Sweden), Active Power Inc.(U.S), Beacon Power (U.S), Powerthru (Canada) and Schwungrad Energie Limited, (Ireland).

Scope of the Report:

This study provides an overview of the global mechanical energy storage market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.

Report Details @ https://www.marketresearchfuture.com/reports/mechanical-energy-storage-market-3276

The scope of the study segments the global mechanical energy storage market by its Type, by End User and by Region.

• By Type

o Pumped Hydro Storage (PHS)
o Compressed Air Energy Storage (CAES)
o Flywheels

• By End User

o Industrial
o Commercial
o Residential

• By Regions

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

About 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 products, services, technologies, applications, end users, 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.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com

This release was published on openPR.