Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Advanced Energy Storage Systems Market by Technology - Global Trends & Forecast to 2018

Advanced energy storage systems market forecast to total US$10Bn by 2018


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-01-08 06:09:01 - Advanced Energy Storage Systems Market by Technology - Global Trends & Forecast to 2018 - a new market research report on companiesandmarkets.com

The advanced energy storage systems market is forecast to reach revenues of US$10 billion by 2018 increasing by 10% CAGR during the period 2013 to 2018. Electricity demand is forecast to expand globally to total 32,000 TWh by 2035. The global electricity demand is forecast to increase by 70% with overall global electricity consumption forecast to expand by 60% during 2011 to 2030.

The bulk of required electricity, though could be generated, has to be managed due to frequently changing demand peaks by seasons, between day and night, and every hour making energy storage an imperative element within the system. Additionally, globally increasing concerns over energy conservation and efficiency measures are shifting fossil energy to alternative energy.

The most prominent and oldest

 

 

of all the storage technologies is the pumped hydro storage. Numerous technologies other than pumped hydro with different capabilities are now in the market with continuous research and development in progress. These include compressed air energy storage, batteries, supercapacitors, fuel cell, and flywheel. Emerging and developing technologies include hydrogen storage, super magnets and synthetic gas.

Globally, the advanced energy storage systems market that includes grid storage and transportation is expected to grow at a CAGR of 10% in from 2013 to reach over $10.8 billion by 2018. The key growth drivers include growing renewable implementation, new transmission and distribution grid construction and upgrades, smart grid installation, and growing demand for electric and hybrid vehicles.

The global battery storage market is dominated by North America in 2012, followed by Asia-Pacific and Europe. Increasing grid storage needs and encouraging policies for electric vehicles in the U.S. are the key drivers for this market. Asia-Pacific is expected to the key market gainer in the next five years

Advanced energy storage systems market has started to grow and is expected to continue the momentum in years to come due to increasing need for power and need to reduce energy consumption. The key storage technologies include pumped hydro, compressed air, battery, flywheel, and supercapacitor. Other emerging technologies include super magnets, syngas and hydrogen storage

Click for report details: www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..

Browse all Energy and Utilities Market Research Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..

Browse all Energy and Utilities Company Profile Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Company- ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com