‘Global Energy Storage Market Worth $7.2 Billion In 2016’ Says Visiongain Report

03 September 2016
Energy

Visiongain’s new study the Energy Storage Technologies (EST) Yearbook 2016. The Ultimate Guide To Energy Storage Featuring CAPEX Forecasts For Closed-Loop / Open-Loop / Innovative Pumped Hydro Storage (PHS), Grid Scale Battery Storage (Lithium-ion / Sodium-based / Flow / Advanced Lead Acid / & Other Batteries), Thermal Storage, Compressed Air Energy Storage (CAES), Flywheels, Supercapacitors & Analysis of Next Generation EST: Adiabatic & isothermal CAES, Liquid Air Energy Storage (LAES), Large-Scale Hydrogen Storage & Fuel Cells, Superconducting Magnetic & Innovative Battery Chemistries (Lithium-Sulphur, Lithium-Air, Magnesium-Ion, Zinc-Air), indicates that the global energy storage market will see $7,235m in spending in 2016.

The lead analyst of the report said: “The energy storage technologies market is about to enter a period of phenomenal growth and innovation. The next ten years will see the large-scale commercial deployment of batteries, a boom in the emerging capacitors market, but also a range of R&D projects and innovations of other technologies which could become game-changers subject to successful commercialisation. While pumped hydro storage will continue its dominance when it comes to installed capacity, its share of CAPEX in many developed countries will start to level off due to an increasing shortage of sites suitable for new installations. Other technology submarkets will more than make up for this shortfall, however. The increasing penetration of renewables and attempts to decarbonise and diversify power systems, large-scale electrification plans, growing energy demand, increasing electricity prices, the deployment of smart grids and policies targeting greater energy efficiency and energy security will all drive the deployment of energy storage technologies on a global scale.

“We can expect continued innovation, performance improvements and learning curve cost reductions from a range of energy storage technologies (e.g. Li-ion batteries and AA-CAES) which will help contribute to increase their appeal in an already favourable environment. While policy support, the level of funding for R&D and the remuneration of energy storage assets still have some way to go, the next ten years will see a much greater integration and use of ESTs in power networks as regulators, operators and end-users alike move to make use of the full range of their potential applications.”

The 500 page yearbook contains 403 tables, charts and graphs that add visual analysis in order to explain developing trends within the energy storage market. Visiongain provides capital expenditure (CAPEX) forecasts for the period 2016-2026 for the six leading energy storage submarkets, namely pumped hydro storage (PHS), grid-scale batteries, thermal storage, compressed air energy storage (CAES), supercapacitors and flywheels. The yearbook also includes capacity (MW) forecasts for the pumped hydro storage market and performance assessments for eight emerging and next-generation ESTs: Adiabatic and Isothermal CAES, Liquid Air Energy Storage (LAES), large-scale hydrogen storage and hydrogen fuel cells, superconducting magnetic energy storage and four innovative battery chemistries, lithium sulphur, lithium air, magnesium ion and zinc air.

The yearbook offers market forecasts and analysis for 10 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 30 companies leading the field in one or several energy storage segments and seven interviews with industry executives and experts from prominent companies.

The Energy Storage Technologies (EST) Yearbook 2016. The Ultimate Guide To Energy Storage Featuring CAPEX Forecasts For Closed-Loop / Open-Loop / Innovative Pumped Hydro Storage (PHS), Grid Scale Battery Storage (Lithium-ion / Sodium-based / Flow / Advanced Lead Acid / & Other Batteries), Thermal Storage, Compressed Air Energy Storage (CAES), Flywheels, Supercapacitors & Analysis of Next Generation EST: Adiabatic & isothermal CAES, Liquid Air Energy Storage (LAES), Large-Scale Hydrogen Storage & Fuel Cells, Superconducting Magnetic & Innovative Battery Chemistries (Lithium-Sulphur, Lithium-Air, Magnesium-Ion, Zinc-Air) report will be of value to anyone who wants to better understand the energy storage market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the energy storage industry.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

About visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-to-business conferences, newsletters, management reports and e-zines focusing on the energy, telecoms, pharmaceutical, defence and materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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