Global Advanced Energy Storage Systems Market 2016-2020 - New Market Research Report


Recently published research from TechNavio, "Global Advanced Energy Storage Systems Market 2016-2020", is now available at Fast Market Research


[USPRwire, Sun Dec 27 2015] Market outlook of the global advanced energy storage systems market

Technavio's research analyst predicts the global advanced energy storage systems market to grow steadily at a CAGR of close to 14% during the forecast period. Energy storage technology is used to store surplus electricity that can be utilized during power shortages, blackouts, and peak hours of demand. The growing demand for electricity worldwide coupled with an imminent need to reduce the demand-supply gap has prompted power utilities to adopt advanced energy storage.

The market is also witnessing a rising trend in the installations of wind and solar PVs, thus augmenting the demand for advanced energy storage. Countries worldwide are using advanced ESS to overcome the intermittent nature of renewable energy resources. However, the growth of the global advanced energy storage market is curtailed by several challenges such as cost competitiveness as these systems are expensive as compared to conventional systems.

Full Report Details at
- http://www.fastmr.com/prod/1099053_global_advanced_energy.aspx?afid=302

End-user segmentation and analysis of the global advanced energy storage market

* Thermal energy storage
* Batteries
* Compressed air storage
* Molten salt
* Flywheels

The thermal energy storage (TES) segment dominated the market in 2015 with a market share of close to 42%. It is gaining importance as it helps in mitigating the intermittent nature of solar PVs. TES systems play a crucial role in electricity storage through concentrating solar power (CSP) plants wherein solar heat can be stored and used for electricity production in the absence of sunlight. It helps to enhance the utilization rate of power plants by 60%-75%. It also finds key application in nuclear power storage and helps meet critical peak demand by achieving higher power outputs.

Geographical segmentation and analysis of the global advanced energy storage market

* Americas
* APAC
* EMEA

North America holds nearly 45% share of the overall installed capacity of advanced energy storage systems as of 2015. State-level participation and growing investments in grid storage projects have fueled the growth of the grid energy storage market in North America. The US government has initiated the "EV Everywhere Grand Challenge Blueprint," which promises to raise the number of EVs to one million by 2015 in a bid to reduce CO2 emissions. Adoption of EVs fosters the use of Li-Ion batteries as an efficient means of energy storage thereby reducing costs.

Competitive landscape and key vendors

Many vendors in the APAC region are making concentrated efforts to provide high-tech, customized ESS solutions for different end-user applications. This trend is likely to continue well over 2020 with many new entrants poised to enter this attractive market.

The leading vendors in the market are -

* AES Energy Storage
* Alevo
* EnSync Energy
* GE

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Advanced Energy Storage Systems Market - Global Forecast to 2020
- Global Off-grid Energy Storage Market 2015-2019
- Global Thermal Energy Storage Market 2015-2019
- General Electric Company (GE) - Clean Technology - Deals and Alliances Profile
- Global Advanced Energy Market 2015-2019

Company: Fast Market Research, Inc.


Contact Name: Bill Thompson

Contact Email: press@fastmr.com

Contact Phone: 1-413-485-7001

>>Visit website