Grid Scale Energy Storage Market Incredible Possibilities and Industry Growth 2019-2025
Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.
A variety of grid scale energy storage technologies are known to the industry and can be broadly categorized based on the type of energy being stored. Pumped hydro energy storage (PHES) is a well-established energy storage technique; however, because of known challenges, various other energy storage techniques, backed by public and private lending, have surfaced over the last decade. For a market such as energy storage, which is linked to the economy of a country, initiatives related to policy decisions and mass awareness play a key role in the growth. Some countries have introduced reforms / amendments in the policies to encourage the market for energy storage, while others are still debating on it. The White House Summit 2016 is a recent example of such initiatives. At the summit, a range of utility, industry and government storage commitments were highlighted to signify the importance of this subject. Post this, the Federal Energy Regulatory Commission (FERC) started working on re-evaluating some of the policies to encourage energy storage in the US.
At the time of release of this study, policies favoring renewable energy over other sources were in place in about 50 countries. The common theme across these policies is priority dispatch of electricity from renewable sources, special feed-in tariffs, quota obligations for renewable energy and energy tax exemptions. In addition, legal bindings / agreements, such as COP21, to tackle climate change are encouraging the use of renewable energy, which, in turn, is likely to drive the energy storage industry.
In 2019, the market size of Grid Scale Energy Storage is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
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In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Grid Scale Energy Storage.
This report studies the global market size of Grid Scale Energy Storage, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Grid Scale Energy Storage production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
- ABB
- Beacon Power
- Hydrostor
- EnerVault
- GE
- Samsung SDI
- S&C Electric
- SustainX
Market Segment by Product Type
- Pumped Hydroelectric Storage System
- Thermal Storage
- Battery Storage
- Compressed Air Energy Storage
- Flywheel Storage
- Molten Salt Storage
Market Segment by Application
- Mechanical Energy
- Chemical Energy
- Electrochemical Energy
- Thermal Energy
- Electromagnetic Energy
Key Regions split in this report: breakdown data for each region.
- United States
- China
- European Union
- Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
- To analyze and research the Grid Scale Energy Storage status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
- To present the key Grid Scale Energy Storage manufacturers, presenting the sales, revenue, market share, and recent development for key players.
- To split the breakdown data by regions, type, companies and applications
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends, drivers, influence factors in global and regions
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
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