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Advanced Energy Storage

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Advanced Energy Storage Market report categorizes global market by Application (Transportation, Grid Storage), Technology, and Geography - Insights, Size, Share, and Industry Forecast till 2025
Advanced Energy Storage Market - Size, Share, and
Forecast to 2025
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. AES can effectively help reduce the Green House Gases and CO2
emissions, thus reducing global warming. The various forms of energy that can
be stored via AES include chemical, mechanical, thermal, electrical,
electrochemical, tidal, solar, and biological. The increasing demand and
investments in renewable sources of energy along with various governmental
regulations supporting the use of renewable energy is a major driver that
augments the growth of the global AES market.
The global advanced energy storage systems market was valued at US$ 11.79
billion in 2016 and is expected to expand at a CAGR of 8.88% in terms of
revenue during 2017 – 2025.
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AES systems were mainly used in the transportation segment in 2016. The
increasing adoption of electric vehicles is a major driver that has resulted in the
rising demand for AES systems in the transportation sector. The transportation
sector accounted for 50.20% market share in the AES systems market.
According to the International Energy Agency, over 750000 electric car sales
were recorded worldwide. This is expected to positively boost the global AES
systems market. China and the U.S. are expected to dominate the electric
vehicle sales during the forecast period. China is the leading consumer of
electric vehicles registering as many as 352,000 new electric vehicles in 2016.
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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pallavi.reddy
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