Pune, India, August 24, 2021 (GLOBE NEWSWIRE) – According to expert analysts, energy storage market the size is expected to grow at a CAGR of 5.5% over 2021-2026, thanks to the widespread deployment of the smart grid, the orientation towards renewable energies and the commercialization of innovative technologies such as semi-flux and semi-flux batteries. conductors.
Moving on, the report offers an in-depth look at the competitive landscape of this vertical, including details like product offerings, business profile, and other financial metrics of large companies, as well as an overview of emerging competitors in the market. domain. The business intelligence report recognizes research and development activities, strategic initiatives, as well as key roadmaps for business expansion prevalent in the market. It also details the impact of the COVID-19 pandemic on the industry sphere and suggests best practices that will help businesses stay afloat in times of uncertainty.
In addition, the growing demand for a distributed power generation model and the increasing use of hybrid vehicles as well as portable electronics are contributing significantly to market compensation. In addition, the reduction in battery prices has a positive impact on the dynamics of the industry.
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Market segmentation overview
Regarding the type, the electrochemical segment held a large market share in 2020 and is expected to develop further in the next few years, due to the increased demand for lithium batteries used in heavy and light electric vehicles. . In recent years, sales of electric vehicles have increased, which, along with increased spending on infrastructure and government initiatives to reduce carbon emissions by encouraging the adoption of electric buses and hybrid vehicles, is boosting the uptake of electric buses and hybrid vehicles. the segmental part.
Moving into the reach of the end user, the global residential segment energy storage market share is expected to register a robust CAGR during the assessment period.
The document further explains the main findings derived from market research conducted during the analysis period. It offers an overview of the main innovations, technological upgrades, profit opportunities and regulations in the industry space.
Summary of geographic terrain
North America, Asia-Pacific and Europe are the main contributors to the overall progress of the industry. The report states that the Asia-Pacific energy storage industry is expected to generate notable profits in the period 2021-2026, presenting immense growth opportunities for the major players in the vertical.
The research literature further mentions the size and share of the market, as well as the revenue generated by each geographic area.
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Global Energy Storage Market by Type (Value, USD Million, 2016-2026)
- Liquid air energy storage
- Compressed air energy storage
- Pumped hydraulic storage
- Sodium-sulfur battery
- Lead acid battery
- Lithium battery
Global Energy Storage Market by Application Spectrum (Value, USD Million, 2016-2026)
Medium and heavy vehicles
Commercial and industrial
Global Energy Storage Market by End User Scope (Value, USD Million, 2016-2026)
- Utility Industrial
Regional Bifurcation of the Global Energy Storage Market (Value, USD Million, 2016-2026)
·The United Kingdom
Major Competitors of the Global Energy Storage Market (Value, USD Million, 2016-2026)
- NextEra Energy Inc.
- Duke Energy Corporation
- LG CNS
- Tesla Inc.
- Convergent Energy & Power LP (Energy Capital Partners)
- Contemporary Amperex Technology Co. Ltd. (CATL)
- Fluence Energy LLC
- NEC Energy Solutions Inc.
- Green energy (Wartsila)
1.1. Definition of the product
1.2. Research process
1.4. Market segmentation
3. Executive summary
4. Impact of COVID-19 on the global energy storage market
5. Global Energy Storage Market Outlook, 2016-2026F
5.1. Market size and analysis
5.1.1. Market income
5.2. Market share and analysis
5.2.1. By type
184.108.40.206.1. Pumped hydraulic storage
220.127.116.11.2. Compressed air energy storage
18.104.22.168.3. Liquid air energy storage
22.214.171.124.1. Lithium battery
126.96.36.199.2. Lead acid battery
188.8.131.52.3. Sodium-sulfur battery
6. North America Energy Storage Market Outlook, 2016-2026F
6.1. Market size and analysis
6.1.1. Market income
6.2. Market share and analysis
6.2.1. By type
6.2.2. By application
6.2.3. By end user
6.2.4. By country
184.108.40.206. United States
6.3. US Energy Storage Market Outlook, 2016-2026E
7. Europe Energy Storage Market Outlook, 2016-2026E
7.1. Market size and analysis
7.1.1. Market income
7.2. Market share and analysis
7.2.1. By type
7.2.2. By application
7.2.3. By end user
7.2.4. By country
220.127.116.11. Great Britain
18.104.22.168. The Netherlands
8. Asia-Pacific Energy Storage Market Outlook, 2016-2026E
8.1. Market size and analysis
8.1.1. Market income
8.2. Market share and analysis
8.2.1. By type
8.2.2. By application
8.2.3. By end user
8.2.4. By country
22.214.171.124. South Korea
9. Rest of the World Energy Storage Market Outlook, 2016-2026E
9.1. Market size and analysis
9.1.1. Market income
9.2. Market share and analysis
9.2.1. By type
9.2.2. By application
9.2.3. By end user
10. Regulations and government policies in the global energy storage market
11. Global analysis of the energy storage value chain
12. Trends and prospects of the global energy storage market
13. Dynamics of the global energy storage market
13.1. Growth drivers
13.3. Impact analysis
14. Global Energy Storage Market Hotspot and Opportunities
15. Key Strategic Imperatives of the Global Energy Storage Market for Success and Growth
16. Competition outlook
Global Advanced Battery Energy Storage Systems Market Size Study, By Application (Residential, Commercial, Industrial, Utility) and Regional Forecast 2020-2027
Global Advanced Battery Energy Storage Systems Market to reach USD 221.12 billion by 2027. The global advanced battery energy storage systems market is valued at approximately USD 151.96 billion in 2019 and is expected to grow with a healthy growth rate of over 4, 8% over the forecast period 2020-2027. Battery energy storage systems can store a viable amount of energy from renewable sources, such as wind and sun. This means that power grids can be powered using clean, natural sources, preserving energy production costs and preventing the release of pollutants into the environment. Energy storage is an advantage because of its rapid response and compared to any fossil fuel, storage technologies can deliver energy much faster. This is a vital benefit especially when electricity consumption increases and exceeds supply. Therefore, the increasing attention to improving the cost competitiveness of the electricity grid by maintaining high stability, coupled with the massive adoption of clean energy sources, will increase the demand for the storage systems market. advanced battery power.
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