Global Advanced Energy Storage System (AESS) Market Size, Share, Trends Outlook | Industry Report, 2025

Request a sample report @: http://bit.ly/2wQK9K9

Market Insights:
In 2016, the global advanced energy storage system (AESS) market outlook was estimated at USD 11 billion. A rise in the renewable energy investments, demand for global electric vehicle (EV) and favourable regulatory changes that demand energy efficiency are some of the factors leading to growth in this market.

AESS helps reduce power fluctuations by storing electricity for use during uncertainty. Large scale grid projects require electricity management during peak times and thus there is a growing demand for the AESS.

A crucial part is played by these systems in power grids by managing peak electricity loads, regulating frequency of power supply, reducing congestion on grids, and supplying power in a uniform manner in distributed generation. These systems are also used in the railway sector and for electric & hybrid vehicles.

Government initiatives are being introduced in countries around the world to meet the growing demand for electricity and these initiatives are expected to boost the market growth during the period of forecast. The U.S. government through its Energy Storage Program is conducting research to improve the density of energy stored in flow battery electrolytes, seeking to develop Sodium-ion batteries with a low temperature feature and nano-structured electrodes containing improved electrochemical features.

Another factor leading to the market growth is the rise in R&D to increase the number of alternatives for electricity storage. These alternatives include development of electro chemical batteries, flywheels, thermos chemical storage systems, software tools for storage sizing & optimisation, and power electronics.

Check the report description @: http://bit.ly/2wQK9K9

Technology Insights:
AESSs are classified into electro chemical, mechanical, thermal, and other storage systems. In 2016, thermal segment occupied the largest share and is expected to grow at a high CAGR from 2017 to 2025. The thermal segment accounted for over 40% of the share due to its effective power capturing process.

Thermal systems store power by either cooling or heating a storage channel temporarily in order to consume it at a later period. These systems store winter cold for air conditioning in summer and summer heat for heating in winter. This type of system is used in industries and commercial establishments. They are also used in combination with solar power plants.

In electro chemical systems, lithium ion batteries occupied a large share in 2016. Lithium ion batteries can store a lot of power and are easily chargeable. Compared to other batteries in the category, these batteries are the most cost effective. Lithium ion batteries are used in various devices such as laptops, power tools, and medical equipment.

Pumped hydro and flywheel are mechanical storage systems. Pumped hydro systems occupied a major share in 2016 and are expected to grow at a high demand in the Asia Pacific countries. Flywheel technology will also experience a high growth owing to its ability to provide greater stability and uninterrupted supply of power.

Application Insights:
AESSs are used in grid storages and transportation. High electricity consumption needs effective management and this is made possible by installing grids storage. Power storage is important when production of electricity exceeds consumption. This can be observed mostly in the case of renewable energy sources such as tidal, wind and solar power. Grid storages returns power stored back to the grid when consumption exceeds production.

In the transportation segment, AESS finds application in the railway sector, electric and hybrid vehicles. Electric railways are environment friendly as compared to diesel run trains. Similarly, EVs are a clean and safe alternative to the traditional fuel run vehicles.

There is a rising environmental concern due to the greenhouse gases emitted from fuel run vehicles is expected to increase the demand for EVs, thereby enhancing AESS demand. Government support for developing eco-friendly solutions, technological innovations, and financial feasibility are also a few reasons why people are expected to shift to hybrid and electric vehicles.

Check the Research Methodology @: http://bit.ly/2wQK9K9

Regional Insights:
North America and Europe occupy a large share in the AESS market. High demand in these regions is attributed to technologies that enable the production of sustainable, clean, and affordable energy. According to the Global EV Outlook 2017, the U.S. was the second largest producer of EVs in 2015. The U.S. among other countries has also developed several strategies and policies that favour the development of energy efficient solutions, which is expected to augment the AESS market.

The market for AESS is expected to grow at a high rate in Asia Pacific as the regions electricity requirement is projected to double from 2010 to 2035. Japan and China are two of the largest electrical vehicle manufacturers and suppliers. Adoption of distributed energy generation by the municipal and federal government in Japan, China, Taiwan, and South Korea is also projected to increase demand for electricity storage systems.

End-use Landscape:
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase advanced energy storage systemsover the coming years. Some leading consumers of advanced energy storage systems are Tesla, Inc. (The U.S.), Panasonic Corporation (Japan) and General Electric Company (The U.S.)

Competitor Analysis:
AESS market is fragmented due to the presence of many companies offering storage technologies. Government encouragement, environment & green initiatives, coupled with R&D and new innovations are some of the factors expected to augment growth over the coming years. The key players include ABB Limited, LG Chemicals Limited, General Electric Company, AES Energy Storage, and Altair Nanotechnologies.

In October 2016, LG Chemicals announced the construction of an EV battery plant in Poland. This plant is expected to have a production capacity of approximately 100,000 batteries per annum for the purpose of automotive application.

In April 2016, AES India Private Limited along with Panasonic India Private Limitedannounced plans to setup a10-Megawatt energy storage array in Haryana, India. This system will provide daily reliability and back-up to the manufacturing facilities as well as renewable integration and grid stability.

Check the Table of Content for the report @: http://bit.ly/2wQK9K9

We’re a team of 50+ full-time and 200+ part-time analysts who have proven record in business intelligence and consulting. We’ve expertise across various industry verticals including Aerospace & Defence, Agriculture, Automotive & Transportation, Chemicals & Advanced Materials, Food & Beverages and Healthcare.

Unlike most of our competitors, our business model is built around a high ratio of part-time to full-time analysts. We strongly believe that every market subscribes to some characteristics of its industry but is inherently different on many fronts. Our flexible analyst pool enables us to cherry-pick the right resources to deliver the best possible results for our clients. We bring together the brightest and experienced analysts, tailor-made to execute the studies commissioned to us.

Name of the company: Global Market Estimates Research & Business Consultants
Address: A-9, Silver Croft CHSL, Mumbai: 400064, India
Contact No.: +91 9146632316
Email Address: sales@globalmarketestimates.com

This release was published on openPR.