DUBLIN, July 14, 2017 /PRNewswire/ --
The "Electrical Power Storage Technologies for Alternative Energy Sources" report has been added to Research and Markets' offering.
The global market for alternative energy storage market reached $847 million in 2016. This market should reach $1.3 billion in 2017 and nearly $5.7 billion by 2022 under a consensus scenario at a compound annual growth rate (CAGR) of 34.0% through 2022.
Utility-scale power generation has moved beyond the tried and true coal-fired, oil-burning, natural gas, nuclear, and hydroelectric stages. Significant amounts of electric power are generated using generally smaller, alternative sources such as wind, solar, tidal, and geothermal. As these smaller power generation approaches proliferate, the problem of off-peak generation becomes important: What if power is generated when it is not needed? What should be done at night, or when the wind does not blow, or when it blows too hard? Power system designers are now rolling out ways to store alternative power so that it can be used when needed.
At the same time, the power generation mix is roiling. Historically low natural-gas prices are beginning to rise. The Japanese nuclear power infrastructure has stabilized, but there are profound concerns about the Japanese nuclear power situation in general and the overall safety and desirability of nuclear power in particular. After eight years of a U.S. administration that strove to wind down coal-burning power plants, the new U.S. political power brokers are very pro-coal. Despite scientific consensus around and historic responses to global climate change, leaders at the very highest levels are backing down on moving away from fossil fuels. Solar, wind, geothermal, and tidal/wave power generation technologies have advanced to the point where they can compete with conventional methods in terms of efficiency, cost-effectiveness, and environmental impact. This is vital, because government incentives may be ending or at least retreating.
With this in mind, this report measures and examines the emerging market for utility-scale, alternative electric power storage, including the use of batteries, fuel cells, capacitive storage, and flywheel energy storage. These storage approaches can be deployed using stationary facilities, mobile arrays, banks of parked electric vehicles, and, increasingly, smart grids that can combine a variety of approaches.
Batteries as a segment should reach $1.1 billion in 2017 and $5.4 billion by 2022, at a CAGR of 36.0% through 2022.
Fuel cells as a segment should reach $65 million in 2017 and should reach $131 million by 2022, at a CAGR of 15.0% through 2022.
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Summary and Highlights
Chapter 3: Electrical Power Generation Approaches
Chapter 4: Market Power Grids by Region or Country
Chapter 5: Alternative Power Generation Technologies
Chapter 6: Power Storage
Chapter 7: Power Storage Companies
Chapter 8: Industry Structure
Chapter 9: Alternative Power Storage Markets
Chapter 10: Power Storage Integrators
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SOURCE Research and Markets