Competitive Analysis

The efficient implementation of strategies is likely to stimulate the market in the coming years.The expansion of a strong value chain is additionally motivating the development of the market. Augmented conformity of market players to new customers and market trend inclinations are increasing the growth curve of the market and will persist in the forecast period. Substantial cuts in administrative costs are inducing further expansion of the market. The evolution of the market is moving in a promising direction due to new product introductions or intensifying gross revenue of the players in the Energy Storage Market. The vertical supplements and product tactics of the market are advancing the potential of the market players. The strategic goals envisioned for the market are buoyed due to the beneficial product differentiation carried out by market competitors.

Energy Storage Market – Overview

The development of energy storage technologies has gained momentum recently following the growing energy crisis globally. Market reports connected with energy and power industry have been offered by Market Research Future which creates reports on other industry verticals that aims to examine the current market situations. The market stands to benefits from an estimated 20.18% CAGR growth in the duration of the forecast period.

The enormous pace of growth witnessed in the utility sector has reinforced the growth of the Energy Storage Market. The need to ensure cost savings to electric grids around the world is a key factor fuelling the growth of the Energy Storage Market. Moreover, increasing focus on large scale energy storage is expected to provide novel opportunities for expansion in the forecast period.

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The noteworthy contenders of the Energy Storage Market are

Tesla Inc. (U.S)
AES Corporation (U.S)
General Electric Company (U.S)
Voith GmbH (Germany)
Highview Power Storage (U.K)
Hydrogenics Corporation (Canada)
Hydrostor Inc. (Canada)
Sulzer Ltd. (Switzerland)
Linde AG (Germany)
SolarReserve, LLC. (U.S)

Segmental Analysis

The segmentation of the Energy Storage Market is carried out on the basis of Type, End User and Regions.

On the basis of Type : Thermal, Mechanical, Electro-Chemical and Chemical.

On the basis of end-user : Commercial & Industrial, Utility, and Residential.

On the basis of regions : Europe, Asia Pacific, North America and the rest of the world.

Industry Updates:

Highview Power which is a liquid air energy storage company is gearing up to launch two US projects this year. To achieve this goal, the firm has partnered up with engineering firm Citec to help upgrade its storage facilities to multiple GWh from 50 MW/500 MWh.

Global Energy Storage Market
Currently, there is a phenomenal growth in the energy storage sector throughout the world. The wide application of energy storage around all the end users is creating a good potential for the energy storage market. Currently there are limited options available for the end-user in energy storage sector, thus an advancement in technology will provide prudent substitute options to the end-users. The current cost of technology is higher and it cost a lot for the end-user to opt for these energy storage at all stages of operations. The upcoming advancement and government initiative will certainly boost the economic viability of the energy storage.

The substantial growth in the overall global energy consumption and volatility in global fuel prices has driven the global energy storage market. These factors have certainly created a great potential for energy storage market all around the world. Europe region is the leading market for energy storage market and is followed by Asia-Pacific.

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TABLE OF CONTENTS

1 Executive Summary

2 Introduction

3 Research Methodology

4 Market Dynamics

5 Market Factor Analysis

6 Global Energy Storage Market, By Type

7 Global Energy Storage Market, By End-User

8 Energy Storage Market, By Region

9 Company Profiles

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