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Advanced Energy Storage Systems Market : Global Industry Analysis and Opportunity Assessment 2022

The global Advanced Energy Storage Systems market was worth USD 1.51 billion in the year of 2012 and is expected to reach approximately USD 3.42 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 7.63% during the forecast period. Rising power utilization on everyday basis combined with expanding vitality supply-demand void has brought about the high requirement for storage limit increments. The measure of electricity produced is settled over a period wherein the request continues to fluctuate. Management of energy, to meet network demands for utility-scale measured tasks at peak circumstances, is the need of the day and therefore is relied upon to boost advanced energy storage systems market. Expanding R&D associated with rising number of substitute energy sources is relied upon to bring about a discontinuous requirement for advanced energy storage in this manner enlarging storage systems market over the conjecture time frame.

Advanced energy storage systems have a tendency to successfully deal with the stream of energy resources in hence decreasing the quantity of energy plants which is required to be a key driving variable for market development. High costs of energy have brought about switching inclinations to advanced storage systems among customers enabling them to manage electricity on real time basis by making the use of Load shifting Technique. Increasing issues regarding the emissions of GHG and CO2 can be managed by advanced energy storage hence bringing about enlarged requirement. Moreover, different factors including the utility transmission, arrangement of backup power for critical loads, and constraints in distribution and empowering productive deployment of charging stations for electric vehicles are relied upon to boost the market demand. Advanced energy storage innovations can be categorized as mechanical, chemical, electrochemical, biological, electrical, thermal systems. Chemical systems comprise hydrogen, power to gas, biofuels, vanadium pentoxide, hydrated salts and liquid nitrogen.

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Electrochemical systems comprise flow and battery that is rechargeable, wherein, biological comprise glycogen and starch. Mechanical systems contain locomotive, hydraulic accumulator, hydroelectric energy storage, Compressed Air Energy Storage (CAES) and fireless. Electrical systems include Superconducting Magnetic Energy Storage (SMES) and super capacitors. Thermal technology comprises steam accumulator, solar pond, seasonal thermal energy storage, thermal energy storage, ice storage and molten salt. The lack of commercial practicality of advanced energy storage systems for distributed energy generation is relied upon to challenge market development in the following years.
• Advanced Energy Storage Systems Market, By Technology, Estimates and Forecast, 2012-2022 ($Million)
• Battery technology
• Compressed air technology
• Flywheel technology
• Thermal technology
• Molten salt technology
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analy ...

News Release: Advanced Energy Storage Systems Market : Global Industry Analysis and Opportunity Assessment 2022
Submitted on: November 17, 2017 12:02:47 PM
Submitted by: kailash
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