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Advanced Energy Storage Systems Market (Technology - Electro Chemical Energy Storage, Mechanical Energy Storage, and Thermal Energy Storage; Application - Grid Storage and Transportation; Region - North America, Europe, Asia-Pacific, and Rest of the World): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024

  • Published : August, 2018

  • Rep Id : EIM0158

  • Category : Energy, Mining and Infrastructure

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Advanced Energy Storage Systems Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Advanced Energy Storage Systems Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Advanced Energy Storage Systems Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on advanced energy storage systems market provides an in-depth analysis of segments and sub-segments in global as well as regional advanced energy storage systems market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional advance energy storage market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global advanced energy storage systems market. According to the report the global advanced energy storage systems market is projected to grow at a CAGR of 5.9% over the forecast period of 2018-2024.

 

Market Insight

The advanced energy storage system is used to store the produced energy and uses the stored energy when required. The advanced energy storage system uses various technologies that convert the electricity into the energy and at a later time convert back into usable electricity. The advanced energy systems use phase change materials, supercapacitors, battery, fuel cells to store the various forms of energy including radiation, chemical, electrical potential, electricity, kinetic and many others. The demand for energy is growing all over the world, the total generated electricity is not sufficient to fulfill the demand for energy.

 

The rapidly growing energy demand and depletion of fossil fuels lead to the growing adoption of renewable energy such as solar energy and wind power. The Cumulative renewable energy investments are driving the growth of the advanced energy storage systems market. In Addition, the use of advanced energy storage systems in the heat and power generation and electrical/hybrid transportation are anticipated to boost the growth of the advanced energy storage systems market. The advanced energy system contains the integrated software’s that helps to manage the storage system that is likely to escalate market growth.  However, the high cost associated with the overall storage system is hampering the growth of the advanced energy storage systems market. Moreover, the rising awareness about renewable energy, growing adoption of advanced energy storage systems across various end-use industries and increasing investment in the modern infrastructure are the factors projected to create several opportunities in the advanced energy storage systems market in upcoming years.

 

Geographically, the Asia Pacific region held the maximum market share in 2017 and is expected to dominate the advanced energy storage systems market followed by Europe. The rapidly growing power supply infrastructure and the rising consumer’s inclination towards renewable energy are the factors driving the growth of the advanced energy storage systems market in the Asia Pacific region.


Advanced Energy Storage Systems Market

 

Segment Covered

The report on the global advanced energy storage systems market covers segments such as technology and application.  On the basis of technology, the global advanced energy storage systems market is categorized into electrochemical energy storage, mechanical energy storage, and thermal energy storage. On the basis of application, the global advanced energy storage systems market is categorized into grid storage and transportation

 

Companies Profiled:

The report provides profiles of the companies in the global advanced energy storage systems market such as Maxwell Corporation, AES Corporation, Schneider Electric, LyondellBasell Industries N.V., INEOS Group AG., EDF Renewables, ABB Ltd., Nippon Chemi-Con Corporation, Tesla Inc. and Toshiba Corporation.

 

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global advanced energy storage systems market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of advanced energy storage systems market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the advanced energy storage systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the advanced energy storage systems market to understand the present and future trends in this market and formulate their strategies accordingly.


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