Mechanical Energy Storage Industry Potential Business Opportunities, Key Players Investment Strategies, Forecast Report 2017-2023

Market Highlights
Mechanical Energy Storage Global Market - Overview
Mechanical Energy Storage has been by far 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 in various industrial, commercial and residential uses. The Global Mechanical Energy Storage Market is growing with the rapid pace; mainly due to the high demand for energy sources.

According to a recent study report published by the Market Research Future, The global market of Mechanical Energy Storage is booming and expected to gain prominence over the forecast period. The Global Mechanical Energy Storage Market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a staggering CAGR of 6.5% during the estimated period (2016 – 2023).

Mechanical energy storage is an essential part of our modern life for storing energy, which surrounds various common aspects, such as hydro power plant over a dam, flywheel in an automotive engine and compressed air stored in large repositories. All these systems include a range of technologies and techniques for storing energy for use at a later time. Mechanical energy storage systems have a great potential to grow, owing to its numerous beneficial factors such as, backup energy storage and cheap & effective source of energy. However, disapproval of governments in initiating capital inducement projects, can hinder the mechanical energy storage market. Also, the high cost of pumped hydro storage infrastructure with safety concern regarding it and the development of modern technology with alternative product launch can restrain global mechanical energy storage market.

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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)
• Schwungrad Energie Limited, (Ireland).

Mechanical Energy Storage Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Mechanical Energy Storage appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Technology and services. Vendors operating in the Mechanical Energy Storage Market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. They compete based on pricing, servicing and technology enhanced solutions. Mechanical Energy Storage market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

Mechanical Energy Storage Market - Regional Analysis
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. The Asia-Pacific region is the leading market for energy storage market and is followed by Europe and North-America.

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Mechanical Energy Storage Market - Segmentation
Global Mechanical Energy Storage Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type : Comprises - Pumped Hydro Storage (PHS), Compressed Air Energy Storage (CAES) and Flywheels.
Segmentation By End User : Comprises - Industrial, Commercial and Residential.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

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This release was published on openPR.