GLOBAL LIQUID AIR ENERGY STORAGE (LAES) MARKET FORECAST 2018-2023
LONDON, Nov. 27, 2018 /PRNewswire/ -- KEY FINDINGS
Global liquid air energy storage (LAES) market was valued at $XX thousand in 2017 and is estimated to generate net revenue of approximately $XX thousand by 2023 growing at a CAGR of 92.41% during the forecast period 2018-2023. Advancements in R&D to figure out newer integrated application in LAES is expected to form new opportunities in the market.
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MARKET INSIGHTS
Government of different countries are offering their support to promote the advancement and implantation of this technology mainly because its lower costs for operating and capital. Moreover, this particular storage is sustainable and environmental friendly, which further facilitates its utility.
On the contrary, there are many dynamics that are holding back the growth of LAES market. Difficulties associated with the implementation of LAES on large scale, land constraints for the industry establishment and presence of the other form of energy storage like pumped hydro storage & other alternative technologies.
The global market for liquid air energy storage has been segmented for analysis by application and capacity.
REGIONAL INSIGHTS
The global liquid air energy storage market is geographically segmented into North America, Europe, Asia Pacific and the countries from the Rest of the World.Europe is expected to be the largest regional market for liquid air energy storage with over XX% market share in 2023 in terms of revenue.
This dominance is attributed to facts like investments in LAES, focus on renewable energy generation and initiatives by the many market players.
COMPETITIVE INSIGHTS
Most of the companies look for strategies such as merger & acquisition or new product launches to gain a competitive edge over each other. Some of them are Custom Metalcraft, Inc., GE Oil & Gas Inc., Heatric Limited, Highview Power, Linde Group, Messer Group GMBH, Mitsubishi Hitachi Power Systems, Ltd. and Viridor Limited
Companies mentioned
1. CUSTOM METALCRAFT, INC.
2. GE OIL & GAS INC.
3. HEATRIC LIMITED
4. HIGHVIEW POWER
5. LINDE GROUP
6. MESSER GROUP GMBH
7. MITSUBISHI HITACHI POWER SYSTEMS, LTD.
8. VIRIDOR LIMITED
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