Growth Of Wind Energy Storage Devices Market 2016 - 2024

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Wind Energy Storage Devices Market Global Industry Size, Share, Trends,
Analysis, and Forecast, 2012 - 2018
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A recent analysis by Transparency Market Research, titled “Wind Energy Storage Devices Market - Global
Industry Size, Share, Trends, Analysis, and Forecast, 2012 – 2018,” provides an in-depth analysis of the
global market for wind energy storage devices. Compiled with the intent of updating industry stakeholders about
the prevailing market dynamics, the report also presents refined forecasts for the market.
Complete Wind Energy Storage Devices Market Report with TOC :
Wind energy storage devices, as the name suggests, are used to store energy harnessed from wind. Renewable
energy sources such as solar and wind have considerable potential of reducing dependence on non-renewable
energy sources such as fossil fuel. Concerns pertaining to climate change, favorable initiatives adopted by
government (such as renewable portfolio standards), and consumer efforts, have resulted in the increasing
dependence on wind energy for generating power. However, the wind energy has variable and uncertain output,
unlike the conventional sources of electricity generation used around the world. Because wind doesn’t always blow,
there has been a pressing need for deploying proper energy storage facilities, which translates into high demand for
wind energy storage devices.
According to the report, the global wind energy storage devices market will exhibit a CAGR of 25.4% between 2012
and 2018. The primary factor driving the wind energy storage devices is the deficit between demand and supply of
wind energy, which can be mitigated using stored wind energy. Apart from this, the market is also gaining from the
dwindling market for fossil fuels, which has made petroleum prices highly volatile and increased the need for clean
energy sources to curb the rising carbon footprint.
Wind energy storage devices are designed to store wind energy generated at peak times and utilize the same later
during the time of high demand. Wind power provides a variable source of energy and the setup of these storages
devices is based on actual energy generated at a particular plant. However, for these storage devices to perform
efficiently, certain geographical requirements are imperative. Thus, it is very important for the potential installation
locations to meet certain criteria. This concentrates the demand for wind energy storage devices only in locations
that meet these criteria.
Nevertheless, the report forecasts impressive growth prospects for the wind energy storage devices market, since
storage is as important as generating energy from renewable sources. With the increasing investment by
governments in the wind energy market, energy storage will play a pivotal role in making available clean energy for
industrial, commercial, or domestic uses.
The report provides a detailed analysis of the various factors contributing to the growth of this market. To study the
prevailing competitiveness in the market, the report profiles companies such as Dresser-Rand, Extreme Power, Duke
Power, Beacon Power, and Ballard Power.
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Complete Wind Energy Storage Devices Market Report with TOC :

Global Wind Energy Storage Devices Market: Description Despite being around for the past several years, the concept of energy storage has been in limited use. However, recent technological advancements have created new opportunities for the global wind energy storage devices market. At a larger scale, the growing focus on smart cities and smart infrastructure has been fuelling the demand for wind energy storage devices as a key solution enabling the aforementioned advances. View exclusive Global strategic Business report : Based on mode of storage, the wind energy storage devices market can be classified as compressed air storage, flywheels, and pumped hydro storage. Regionally, the market has been segmented into Europe, North America, Asia Pacific, and Rest of the World. The future of the wind energy storage devices market seems quite promising as governments around the world accelerate their spending on harnessing energy from renewable sources such as wind, water, and solar.