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Global Grid Scale Energy Storage Market 2016-2020

  • Published: Jul 2016
  • Pages: 52
  • SKU: IRTNTR8307
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This market research report includes a detailed segmentation of the global grid scale energy storage market by technology (pumped hydroelectric storage and others). The others segment includes a detailed analysis of thermal storage, battery storage, compressed air storage, flywheel storage, and molten storage. The report outlines the market share for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are ABB, Beacon Power, Hydrostor, and LG Chem.

Market outlook of the grid scale energy storage market

Technavio’s research analyst predicts the global grid scale energy storage market to grow steadily at a CAGR of around 34% during the forecast period. Fossil fuels, the most extensively consumed power source, are exhaustible. The deficit between the demand and the availability of energy is increasingly getting addressed by these storage systems. Given these factors, the market is expected to grow significantly during the forecast period.

Government mandates and concerns over carbon emissions are anticipated to increase the demand for grid-scale energy storage systems. For instance, in 2014, the California state government imposed a mandate that required the state's investor-owned utilities to purchase about 1.3 GW of storage capacity by the year 2020. This gave a massive boost to the energy storage sector. Such mandates are likely to accelerate the development of storage technologies. Globally, the development of next generation batteries drives the demand for grid-scale energy storage.

Segmentation by technology and analysis of the grid scale energy storage market

  • Pumped hydroelectric storage system
  • Thermal storage
  • Battery storage
  • Compressed air energy storage
  • Flywheel storage
  • Molten salt storage

The pumped hydroelectric storage segment dominated the market during 2015 with a market share of around 94%. Technological feasibility, cost competitiveness, and government support have increased the global demand for grid-scale energy storage systems. For instance, in the US, the number of PHS plants is expected to rise during the forecast period with 50 active preliminary permits.

Geographical segmentation and analysis of the grid scale energy storage market

  • Americas
  • APAC
  • EMEA

The Americas accounted for 45% of the market share during 2015, and it is expected to grow rapidly during the forecast period. The increase in government regulations and support is the primary driver for its growth in this region. In the US, ARRA provided $100 million for battery storage projects. This in turn drives the demand for the grid scale energy storage market.

Competitive landscape and key vendors

The global grid scale energy storage market is fragmented with the presence of numerous small, medium, and large vendors including international and regional players. The market in the Americas and EMEA is dominated by large and established players. The Americas is expected to witness high investments in grid scale energy storage technologies to reduce carbon emissions and to cope with the integration of renewable energy sources.

The leading vendors in the market are: -

  • ABB
  • Beacon Power
  • Hydrostor
  • LG Chem Johnson Controls

Other prominent vendors in the market include EnerVault, GE, Samsung SDI, S&C Electric, and SustainX.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global grid-scale energy storage market?
  • What are the key market trends impacting the growth of the grid-scale energy storage market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the vendors in the global grid-scale energy storage market?
  • What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the grid-scale energy storage market?

Technavio also offers customization on reports based on specific client requirement.

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Market segmentation by technology

  • Global grid-scale energy storage market by technology 2015-2020
  • Global grid-scale energy storage market by technology 2015-2020
  • Global grid scale energy storage market by pumped hydroelectric system 2015-2020
  • Market size and forecast
  • Global grid scale energy storage market by others 2015-2020
  • Market size and forecast

PART 07: Geographical segmentation

  • Global grid scale energy storage market by geography
  • Grid scale energy storage market in Americas
  • Grid scale energy storage market in APAC
  • Grid scale energy storage market in EMEA

PART 08: Market drivers

  • Government support
  • Increase in R&D activities
  • Extensive use of energy storage technologies in utility sector

PART 09: Impact of drivers

PART 10: Market challenges

  • Use of lead acid batteries as energy storage
  • High cost of large-scale energy storage systems
  • Technological risks

PART 11: Impact of drivers and challenges

PART 12: Market trends

  • Growing use of renewable sources
  • High demand for consistent and secure power
  • Development of next-generation batteries

PART 13: Vendor landscape

  • Competitive scenario
  • Other prominent vendors

PART 14: Key vendor analysis

  • ABB
  • Beacon Power
  • Hydrostor
  • LG Chem

PART 15: Appendix

  • List of abbreviations

PART 16: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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