Market Highlights:-

The growing attention and substantial investment in renewable power energy generation is rigorously driving the global energy storage market. Major economies around the world are highly focusing on developing the renewable energy power generation so as to reduce their dependency on conventional power generation through fossil fuels. Renewable energy currently holds a substantial share in total global energy production. In 2016, World Energy Council quoted that, hydropower accounted for about 30% of the total global installed power generating capacity and about 23% of total global electricity produced.

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.

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Scope of the Report:-

The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global energy storage market by its type, by end-user, by regions.

By Type

• Mechanical
• Thermal
• Electro-Chemical
• Chemical

By End-User

• Utility
• Commercial & Industrial
• Residential

By Regions

• North America 
• Asia Pacific 
• Europe
• Rest of the World  

Industry Major Key Players:-

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

TABLE OF CONTENTS

1.Executive Summary

2.Introduction

3.Research Methodology

4.Market Dynamics

•  

4.1.1 Evolution In Renewable Energy Power Generation 21 

4.1.2 Gradual Downfall In Technology Cost 21 

4.1.3 Increasing Application Of Energy Storage In All End-User Industries 21 

4.2 Growth Drivers: Impact Analysis 22 

4.3 Restraints 22 

4.3.1 High Initial Capital Investment 22 

4.3.2 Indistinct Supervisory Framework 22 

4.4 Growth Barriers: Impact Analysis 23 

4.5 Opportunity 23 

4.5.1 Investment In Energy Storage Systems With Grid Expansion 23 

4.5.2 Wide Scope Of Development In End-User Sectors 23 

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Market Research Analysis:-

Mechanical energy storage segment by type in global energy storage is expected to dominate market in forecast period.

Mechanical energy storage, primarily refers to technologies, which convert electricity to mechanical or potential energy, and then store it as electricity, for later use. Currently, pumped hydro storage (PSH), compressed air energy storage and liquid air energy storage are generally considered the most mature method for electricity storage, with about PSH representing 99% of the currently installed electricity storage capacity. The growing demand for mechanical energy storage from the emerging economies, such as, Spain, Germany, China and India among others, are the key factor for driving the mechanical energy storage segment by type in global energy storage market.

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