BANGALORE, India, Nov. 7, 2019 /PRNewswire/ -- ENERGY STORAGE MARKET OVERVIEW:
The market for global energy storage is on the increase. This bloom in the energy storage market can be attributed to hundreds of millions of dollars of money flowing into research, development, and marketing, from companies such as Tesla, CATL, and LG Chem.
Furthermore, utilities adopting capacity storage, large-scale deployment of solar projects, and utility-scale deployment in China and the rest of Asia are contributing to the growth of the global energy storage market.
Global Energy Storage Market to grow from USD 71831.56 Millions in 2018 to USD 164704.67 Millions by 2025, at a Compound Annual Growth Rate (CAGR) of 12.58%. The year 2018 has been considered as the base year, while the forecast period is up to 2025.
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ENERGY STORAGE MARKET TRENDS
- Development of new market opportunities and value streams opened up by favourable federal and state regulations.
- Expanding applications of energy storage devices.
COMPETITIVE NEWS FEED ANALYSIS OF GLOBAL ENERGY STORAGE MARKET
The global energy storage market research report closely tracks the recent developments by the dominating players and innovation profiles in the market including:
- Guoxuan High Technology and Jiyuan Software sign a contract to jointly develop Energy Storage Market (2019-10-16)
- CATL enters U.S. energy storage market with large-scale LFP batteries (2019-09-23)
- Tesla Unveils New Energy Grid Storage Product Called 'Megapack' (2019-07-30)
REGION WISE ENERGY STORAGE MARKET ANALYSIS
- Asia-Pacific is expected to remain dominant over the forecast period in the energy storage industry. The region consists of two main types of power grids, each with different characteristics and energy storage systems opportunities. On one side are highly developed nations, such as Japan, South Korea, New Zealand, and Australia, and other major cities with advanced grids that operate reliably and utilize the advanced technologies.
- A wave of goals and investment in greenhouse gas mitigation, renewable energy supply, and clean technology by sub-national government entities, non-profits, and businesses has helped drive the continued growth of renewable energy and efficiency in the U.S.
- Power utilities are the largest revenue-generating segment in Europe's overall market share of energy storage systems as high initial investments are needed for large-scale storage systems, and they also have better access to energy infrastructure. However, energy storage in the residential sector is gaining popularity in European countries such as Germany, Italy, and the UK due to government subsidies on the installation of residential solar plus storage systems, which would spur Europe's revenue forecast period for energy storage systems.
GLOBAL ENERGY STORAGE MARKET, BY GEOGRAPHY
- Europe, Middle East & Africa
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COMPANY USABILITY PROFILES:
The global energy storage market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increasing competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The Global Energy Storage Market Research Report Provides The Company Usability Profiles And Analyze The Overview, Strategy, Swot And Scorecard Of The Following Company:
- Eve Energy
- Funeng Technology
- Guoxuan High-Tech
- LG Chem
- Samsung SDI
- SK Innovation
- TerraE Holding
- BYD Co. Ltd
- Ice Energy Inc.
- Johnson Controls International PLC
- NGK Insulators Ltd
- UNIENERGY TECHNOLOGIES LLC
- Yuasa Corporation
MARKET SEGMENTATION & COVERAGE:
The research report categorizes the Global Energy Storage Market to forecast the revenues and analyze the trends in each of the following segments:
- GLOBAL ENERGY STORAGE MARKET, BY TYPE
- GLOBAL ENERGY STORAGE MARKET, BY APPLICATION
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GLOBAL ENERGY STORAGE MARKET REPORT HIGHLIGHTS:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of the Global Energy Storage Market. Moreover, the study highlights current market trends and provides forecast. We also have highlighted future trends in the Global Energy Storage Market that will impact the demand during the forecast period. Moreover, the competitive analysis of the Global Energy Storage Market brings an insight on the company usability profiles of the leading players. Additionally, the analysis highlights business overview, strategy, and SWOT analysis of the key companies in the market.
REASON TO BUY GLOBAL ENERGY STORAGE MARKET REPORT
The Global Energy Storage Market research study reveals hidden insights and dynamic, which in turn helps the players in the ecosystem take better strategic decisions. The firms looking for purchasing the Global Energy Storage Market research report could look for following prospects on their way to better understand the market that can aid further decision making and possibly identify the best opportunities to exploit.
- Evaluate the qualitative and quantitative aspects of the report and analyze the Global Energy Storage Market penetration with respect to industries and geographies.
- Evaluates the key vendors and deeply analyze the competitive landscape, revenue pockets, market trends, growth prospects, pain points, drivers, restraints, challenges and opportunities of the Global Energy Storage Market .
- Evaluate the key vendors in the Global Energy Storage Market in terms of product satisfaction and business strategy. This helps identify consumer preferences and understand its current position.
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