LONDON, March 27, 2017 /PRNewswire/ -- The global advance energy storage market is expected to grow at a tremendous pace during the forecast period of 2016-2022. The increasing adoption of EVs, HVs and PHEVs as well as growing emphasis towards grid storage has led to the strong growth of market globally.
The report is a compilation of various segments including market dynamics, market breakdown by technology type, by geography and by applications. The report also includes a detailed section on the fuel cell technology along with its market estimation and analysis. The report focuses on the overall advance energy storage market with respect to both installed capacity and revenue generated. Moreover, each technology type are further mapped as per their geographical markets and application verticals.
The report provides a detailed market analysis and forecast along with the recent trends influencing the markets. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financials, financial summary and SWOT analysis.
The report addresses the following key questions about the global high speed camera market:
- What the market size is in terms of revenue and installed capacity from 2016-2022 for the global advance energy storage market?
- Which are the dominant technologies in the global advance energy storage market along with their revenue and installed capacity?
- What is the market size in terms of revenue generated and capacity installed of different technology type with respect to application verticals and geographical presence in the global advance energy storage market?
- What are the different factors which are driving the market forward in the forecast period?
- What are the major factors challenging the growth of global advance energy storage market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- Which regions will lead the global advance energy storage market by the end of the forecast period?
- What is the Global market size of the fuel cell technology both in terms of revenue and installed capacity?
- What are the market breakdown of the fuel cell technology by type, applications and geographical presence?
The company profiles section includes highlights of significant information about the key companies involved along with their corporate overview, financial summary, SWOT analysis, key strategies & developmental activities of recent years (2014-2016). Some of the key players are Panasonic Corp., LG Chem, Samsung SDI, NGK Insulators, Saft batteries, GS Yuasa, Shenzhen BAK, and Sumitomo Electric Corporation.
The advance energy storage market has developed significantly over the recent years, a lot of which is attributed to technological advancements and decreasing average cost per kWh. The ecosystem of the advance energy storage market comprises of energy storage technology providers and systems integrators. The advance energy storage market comprises of storage technologies such as Li Ion battery, flow battery, molten salt battery, metal air battery and Ultrabattery. Different types of application segment has different requirement, thereby needing different forms of energy storage technologies.
The global advance energy storage market was worth $28 billion in the FY2015 and is expected to grow at a standard rate during the forecast period of 2016-2022. Some of the major technologies in the advance energy storage market are growing rapidly in regions such as North America and APAC while many others are still at a nascent stage and expected to develop in upcoming years. Increasing production of EVs, HVs and PHEVs and increasing deployments of renewable energy projects globally are responsible for driving the market growth in the future. However, high cost per kWh of these technologies is restraining the growth of the advance energy storage market.
The market for advance energy storage comprises of diverse technologies for usage in different application verticals. The market is highly competitive in nature in which many similar forms of technologies are competing neck to neck with each other, moreover, with further developments, may replace each other in the long term. The advance energy storage market has been divided on the basis of technology/type, application and geography. Lithium Ion battery technology has dominated the market and is currently witnessing a rapid growth. Increasing application potential and decreasing average cost per kWh are some of the factors which are helping in the growth of the advance energy storage market.
The advance energy storage technology finds application in a number of fields including automotive, consumer electronics and grid storage. Consumer electronics is the largest segment in terms of installed capacity whereas automotive and grid storage is expected to witness a strong growth rate during the forecast period.
In terms of geography, the Asia Pacific (APAC) region is geographically the largest in terms of installed capacity and revenue generation and is expected to witness a strong growth rate along with other geographic regions. The South Asian countries are home to almost 75% of the global production capacity of Li Ion batteries because of which APAC has emerged as one of the key players in advance energy storage market. The growing concern for climate change leading to the increasing deployment of renewable energy projects has led to the rapid growth of the APAC regions.
Some of the key companies in the advance energy storage market are Panasonic Corp., LG Chem, Samsung SDI, GS Yuasa, BYD, Shenzhen BAK, Sumitomo Electric Company, NGK Insulators, Maxell and Saft Batteries. These companies are actively aiming for an increased participation through partnerships and collaborations in order to expand their operations and offerings to target potential clientele.
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