Energy Storage Market Global Trends, Size, Segments, Competitors Strategy, Regional Analysis and Growth by Forecast to 2023

Market Highlights
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.
Energy storage can be described as a technology that provides a preference to source power as and when required without backsliding to conventional energy sources. These energy systems are highly efficient and acts as flexible generation when needed. Energy storage systems can contribute to optimal use of generation and grid assets, and support emissions reductions in several economic sectors.

The market is 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. This is mainly because, energy storage systems are less polluting and produces less carbon emissions when compared with traditional conventional energy sources such as coal, oil and petroleum. Energy storage generation is helping in the fight against climate change as well as it is acting as a source of power for remote and off grid areas where still millions of global population lives. However, the growth of the market can be hindered by the due high initial capital investment and indistinct supervisory framework for energy storage systems.

The Global Energy Storage Market is expected to grow at a CAGR of more than 20.18% during the forecast period.

Key Players
The key players of global energy storage market are
• AES Corporation (U.S),
• Tesla Inc. (U.S),
• General Electric Company (U.S),
• Voith GmbH (Germany),
• Sulzer Ltd. (Switzerland),
• Hydrostor Inc. (Canada),
• Highview Power Storage (U.K),
• Linde AG (Germany),
• Hydrogenics Corporation (Canada)
• SolarReserve, LLC. (U.S).

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Europe region market is expected to grow at the fastest rate and hold the largest market size in forecast period.
Europe region is the leading market for energy storage market and is followed by Asia-Pacific. Europe currently has about a cumulative energy storage capacity of approximately 30 GW. Open pumped hydro storage contributed about 25 GW and the remaining 5 GW capacity came through batteries, compressed air storage and thermal & electro-chemical energy storage. The Europe is addressing these new challenges in the energy system by promoting innovation in key technologies and developing suitable market rules. Technological innovation in storage falls under the Horizon 2020 programme and the Strategic Energy Technology Plan.

Table of Content

1 Executive Summary
2 Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.4 Market Structure

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

4 Market Dynamics
4.1 Drivers 21
4.1.1 Evolution in renewable energy power generation
4.1.2 Gradual downfall in technology cost
4.1.3 Increasing application of energy storage in all end-user industries
4.2 Growth Drivers: Impact Analysis
4.3 Restraints
4.3.1 High initial capital investment 22
4.4 Growth Barriers: Impact Analysis
4.5 Opportunity

5 Market Factor Analysis
5.1 Porter’s 5 Forces Analysis 24
5.1.1 Threat Of New Entrants 25
5.1.2 Bargaining Power Of Suppliers 25
5.1.3 Threat Of Substitutes 25
5.1.4 Bargaining Power Of Buyers 25
5.1.5 Segment Rivalry 25
5.2 Value Chain Analysis 25

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List Of Tables
Table 1 Market Synopsis 13
Table 2 Growth Drivers: Impact Analysis 22
Table 3 Growth Barriers: Impact Analysis 23
Table 4 Global Energy Storage Market, By Type, 2015-2023 (Usd Million) 33
Table 5 Mechanical: Global Energy Storage Market, By Sub-Type, 2015-2023 (Usd Million) 34
Table 6 Electro-Chemical: Global Energy Storage Market, By Type, 2015-2023 (Usd Million) 34
Table 7 Thermal Storage: Global Energy Storage Market, By Type, 2015-2023 (Usd Million) 35
Table 8 Chemical Energy Storage: Global Energy Storage Market, By Type, 2015-2023
Table 9 Global Energy Storage Market, By End-User, 2015-2023 (Usd Million) 38
Table 10 Asia-Pacific: Global Energy Storage Market, By Country, 2015-2023 (Usd Million) 43
Continue……….

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