Advanced Energy Storage (AES) systems involve the capture of the required energy which is produced at one time and can be used later. Energy is stored via a variety of mediums. Advanced Energy Storage technologies convert electricity into a different form of energy which can be stored and converted back into usable electricity at the required time. Energy can be transported via Advanced Energy Storage and stored using grids. AES system is an evolving technology critical for the growth of the energy sector in the 21st century. The energy can be used in the manufacture of various semiconductors, data storage products, solar cells, and electricity. The increasing demand for large amount of renewable energy can be met with the help of AES. It also allows operators manage the flow of energy sources by supplying only the required amount of energy thus avoiding the waste of energy.
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Market Dynamics
Increasing adoption of electric vehicles has resulted in an increase in demand for advanced energy system globally. The transportation segment dominates the advanced energy system market. Rising adoption of lithium-ion batteries in electric cars has resulted in significant demand for advanced energy system in transportation segment. The segment accounted for 50.20% market share, valued at US$ 5.92 billion, in 2016.
Market Taxonomy
This report segments the global AES systems on the basis of application, and technology. On the basis of technology, the global AES systems market is classified into electro chemical, thermal storage, mechanical energy storage and other storage technologies. The electro chemical segment is further classified into lithium-ion batteries, lead acid batteries, sodium sulfur batteries, flow batteries and Nickel Metal Hydride (NIMH) & Nickel Cadmium Batteries (NICD). Thermal storage is further classified as Thermo Chemical Energy Storage, Latent Heat Thermal Energy Storage and Sensible Heat Thermal Energy Storage. The Mechanical Energy Storage is classified as Pumped Hydro Energy Storage, Compressed Air & Liquid Air Energy Storage and Flywheel Energy Storage. The application segment is classified as Transportation and Grid Storage.
Key features of the study:
This report provides an in-depth analysis of advanced energy systems and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2016 – 2024), considering 2015 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global advanced energy systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study include ABB Ltd., LG Chem, Ltd., Samsung SDI Co., Ltd, General Electric Company, and Tesla, Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
The global advanced energy system market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the advanced energy systems market
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Multinational players
Some of the leading players in the AES include ABB Ltd., LG Chem, Ltd., Samsung SDI Co., Ltd, General Electric Company, and Tesla Inc.
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