HOME Top Market Reports Advanced Energy Storage Systems Market by Technology (Electro Chemical Technology, Mechanical Technology, Thermal Storage Technology), by Application (Transportation and Grid Storage), and Region - Global Forecast to 2022

Advanced Energy Storage Systems Market by Technology (Electro Chemical Technology, Mechanical Technology, Thermal Storage Technology), by Application (Transportation and Grid Storage), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: EP 2190

 

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The global advanced energy storage systems market was valued at USD 11.79 Billion in 2016 and is expected to grow at a CAGR of 8.38%, from 2017 to 2022. The key roles played by energy storage systems in power grids include time shifting to manage peak loads, providing power quality by aiding in frequency regulation, mitigating power congestion on grids, and supplying power uniformly in distributed generation. They are also used as a primary power source in electric vehicles. Factors driving the energy storage systems market include energy arbitrage opportunities, increasing renewable energy installations, and growth in the electric vehicles market globally.

The years considered for the study are as follows:

  • Base Year- 2016
  • Estimated Year- 2017
  • Projected Year- 2022
  • Forecast Period- 2017 to 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define and  segment the global advanced energy storage systems market  with respect to  technology (including electro chemical, thermal storage, mechanical, and others), application, and region
  • To estimate the market size, in terms of value, of the global advanced energy storage systems market 
  • To provide a detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micro markets with respect to individual growth trends, future prospects, and contribution to the total market covered by types of technology, application, and region
  • To estimate the market size of the global advanced energy storage systems market in terms of the market value
  • To study individual growth trends of the global advanced energy storage systems market, their future expansions, and analysis of their contribution to the market
  • To strategically profile key market players and comprehensively analyze their market shares and core competencies
  • To forecast the revenue of market segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the rest of the world.
  • To track and analyze competitive developments, such as joint ventures, mergers & acquisitions, new product developments, awards and recognitions, and research and developments in the global advanced energy storage systems market
  • To benchmark players within the market using proprietary, competitive leadership mapping framework which analyzes market players on various parameters within broad categories of the business and product strategy.

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as, Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global advanced energy storage systems market. Primary sources are mainly industry experts from core and related industries, service providers, technology developers, standard and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points given below explain the research methodology.

  • Study of the annual revenue and market developments of major players providing advanced energy storage technologies
  • Analysis of major end-users and demand for advanced energy storage systems
  • Assessment of future trends and growth of advanced energy storage systems
  • Assessment of the advanced energy storage systems market with respect to the demand for each type of advanced energy storage system technology used for different applications
  • Analysis of market trends in various regions or countries by studying the applications of advanced energy storage systems
  • Study of contracts and developments related to advanced energy storage systems by key players across different regions
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product developments and annual revenues of companies providing advanced energy storage systems across the globe

After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

Advanced Energy Storage Systems Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

The ecosystem of advanced energy storage systems comprises companies, such as, ABB Ltd. (Switzerland), LG Chem, Ltd. (South Korea), General Electric Company (US), Samsung SDI Co ltd. (South Korea), GS Yuasa Corporation (Japan), Siemens Ltd. (Germany), Panasonic Corporation (Japan), CALMAC (US), Nippon Chemi-Con Corporation (Japan), Tesla Inc. (US), and Toshiba Corporation (Japan).

Target Audience:

The target audience for this report includes:

  • Advanced Energy Storage System Technology Providers
  • Electric Utilities
  • Grid Operators
  • Energy Storage Device/Equipment Manufacturers and Integrators
  • Government Agencies
  • Investors and Financial Community Professionals
  • Market Research and Consulting Firms
  • Microgrid Developers
  • Renewable Power Generation and Equipment Manufacturing Companies
  • State and National Regulatory Authorities

Scope of the Report:

  • By Application
    • Transportation
    • Grid Storage
  • By Technology
    • Electro Chemical
      • Lithium-Ion battery
      • Lead Acid battery
      • Sodium Sulfur (NaS) battery
      • Flow battery
      • Nickel Metal Hydride (NiMH) & Nickel Metal Cadmium (NiCd)
    • Mechanical
      • Pumped Hydro
      • Flywheel
      • Compressed Air Energy Storage (CAES) & Liquid Air Energy Storage (LAES)
    • Thermal Storage
      • Thermo Chemical
      • Sensible
      • Latent
  • By Region
    • Asia Pacific
    • North America
    • Europe
    • Rest of the World

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

Further breakdown of region- or country-specific analysis

Company Information

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Opportunities in the Advanced Energy Storage Systems Market, 2017–2022
    4.2 Advanced Energy Storage Systems Market, By Region, 2017-2022
    4.3 Advanced Energy Storage Systems Market, By Application, 2017 & 2022
    4.4 Transportation Advanced Energy Storage Systems Market, By Region, 2017 & 2022
    4.5 Advanced Energy Storage Systems Market, By Technology, 2017 & 2022

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Technology Overview
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Renewable Energy Investments
                    5.3.1.2 Energy Arbitrage
                    5.3.1.3 Regulations Demanding Energy Efficiency
                    5.3.1.4 Declining Technology Cost Due to Technology Advancement and Expanded Deployment
                    5.3.1.5 Electrification of the Transport Sector
           5.3.2 Restraints
                    5.3.2.1 High Capital Investments
                    5.3.2.2 Hazardous Environmental Impact
           5.3.3 Opportunities
                    5.3.3.1 Grid Expansion and Investment in the Modern Infrastructure
                    5.3.3.2 Growing Opportunity for Commercial and Residential Applications
           5.3.4 Challenges
                    5.3.4.1 Dynamic Valuations
                    5.3.4.2 Regulatory Treatment
                    5.3.4.3 Lack of Common Codes and Standards

6 Advanced Energy Storage Systems Market, By Application (Page No. - 40)
    6.1 Introduction
    6.2 Transportation
    6.3 Grid Storage

7 Advanced Energy Storage Systems Market, By Technology (Page No. - 45)
    7.1 Introduction
    7.2 Electro Chemical
           7.2.1 Lithium-Ion Battery
           7.2.2 Lead Acid Battery
           7.2.3 Sodium Sulfur (NAS) Battery
           7.2.4 Flow Battery
           7.2.5 Nickel Metal Hydride (NIMH) & Nickel Cadmium Battery (NICD)
    7.3 Thermal Storage
           7.3.1 Thermo Chemical Energy Storage
           7.3.2 Sensible Heat Thermal Energy Storage
           7.3.3 Latent Heat Thermal Energy Storage
    7.4 Mechanical Energy Storage
           7.4.1 Pumped Hydro Energy Storage
           7.4.2 Flywheel Energy Storage
           7.4.3 Compressed Air & Liquid Air Energy Storage
    7.5 Other Storage Technologies

8 Advanced Energy Storage Systems Market, By Region (Page No. - 68)
    8.1 Introduction
    8.2 Asia Pacific
           8.2.1 China
           8.2.2 India
           8.2.3 South Korea
           8.2.4 Japan
           8.2.5 The Rest of Asia Pacific
    8.3 North America
           8.3.1 US
           8.3.2 Canada
    8.4 Europe
           8.4.1 The UK
           8.4.2 Germany
           8.4.3 France
           8.4.4 The Rest of Europe
    8.5 Rest of the World
           8.5.1 South Africa
           8.5.2 Chile
           8.5.3 Rest of RoW

9 Competitive Landscape (Page No. - 93)
    9.1 Overview
    9.2 Key Players of the Advanced Energy Storage Systems Market
           9.2.1 Growth Strategies in the Advanced Energy Storage System Market
    9.3 Market Ranking, Advanced Energy Storage Systems, 2016
    9.4 Competitive Situations & Trends
    9.5 Competitive Leadership Mapping
           9.5.1 Visionary Leaders
           9.5.2 Dynamic Differentiators
           9.5.3 Innovators
           9.5.4 Emerging Companies
    9.6 Strength of Product Portfolio (25 Companies)
    9.7 Business Strategy Excellenece (25 Companies)

10 Company Profiles (Page No. - 101)
(Overview, Strength of Product Portfolio , Business Strategy Excellence , Products Offering, Recent Development’s, Business Strategy)*
     10.1 LG Chem, Ltd.
     10.2 ABB Ltd.
     10.3 GS Yuasa Corporation
     10.4 Samsung SDI Co., Ltd.
     10.5 General Electric Company
     10.6 Saft Groupe S.A.
     10.7 Tesla, Inc.
     10.8 Evapco, Inc.
     10.9 Calmac
     10.10 Baltimore Aircoil Company, Inc.
     10.11 BYD Company Limited
     10.12 Hitachi, Ltd.
     10.13 Siemens AG
     10.14 Panasonic Corporation

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Products Offering, Recent Development’s, Business Strategy Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 148)
     11.1 Insights of Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Introducing RT: Real-Time Market Intelligence
     11.5 Available Customizations
     11.6 Related Reports
     11.7 Author Details


List of Tables (69 Tables)

Table 1 Advanced Energy Storage Systems Market Snapshot
Table 2 Comparison of Major Energy Storage Technologies By Technical Characteristics
Table 3 Advanced Energy Storage Systems Market Size, By Application, 2015–2022 (USD Million)
Table 4 Transportation: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 5 Grid Storage: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 6 Advanced Energy Storage Systems Market Size, By Technology, 2015–2022 (USD Million)
Table 7 Electro Chemical: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 8 Electro Chemical: Advanced Energy Storage Systems Market Size, By Technology, 2015–2022 (USD Million)
Table 9 Lithium-Ion Battery: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 10 Lithium-Ion Battery: Advanced Energy Storage Systems Market Size, By Application, 2015–2022 (USD Million)
Table 11 Lead Acid Battery: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 12 Sodium Sulfur (NAS) Battery: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 13 Flow Battery: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 14 Nickel Metal Hydride & Nickel Cadmium Battery: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 15 Thermal: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 16 Thermal: Advanced Energy Storage Systems Market Size, By Technology, 2015–2022 (USD Thousands)
Table 17 Thermo Chemical: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Thousands)
Table 18 Sensible Heat Thermal: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Thousands)
Table 19 Latent Heat Thermal: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Thousands)
Table 20 Mechanical: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 21 Mechanical: Advanced Energy Storage Systems Market Size, By Technology, 2015–2022 (USD Million)
Table 22 Pumped Hydro: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 23 Flywheel: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 24 Caes & Laes: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 25 Others: Advanced Energy Storage Systems Market Size, By Region, 2015–2022 (USD Million)
Table 26 Advanced Energy Storage Systems Market Size, By Region, 2015– 2022 (USD Million)
Table 27 Asia Pacific: Advanced Energy Storage Systems Market Size, By Country, 2015–2022 (USD Million)
Table 28 Asia Pacific: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 29 Asia Pacific: Transportation Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 30 Asia Pacific: Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 31 Asia Pacific: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015–2022 (USD Million)
Table 32 Asia Pacific: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015–2022 (USD Thousand)
Table 33 Asia Pacific: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015–2022 (USD Million)
Table 34 China: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 35 India: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 36 South Korea: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 37 Japan: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 38 The Rest of Asia Pacific: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 39 North America: Advanced Energy Storage Systems Market, By Country, 2015–2022 (USD Million)
Table 40 North America: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 41 North America: Transportation Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 42 North America: Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 43 North America: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015–2022 (USD Million)
Table 44 North America: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015–2022 (USD Thousand)
Table 45 North America: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015–2022 (USD Million)
Table 46 US: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 47 Canada: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 48 Europe: Advanced Energy Storage Systems Market, By Country, 2015–2022 (USD Million)
Table 49 Europe: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 50 Europe: Transportation Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 51 Europe: Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 52 Europe: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015–2022 (USD Million)
Table 53 Europe: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015–2022 (USD Million)
Table 54 Europe: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015–2022 (USD Million)
Table 55 The UK: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 56 Germany: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 57 France: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 58 The Rest of Europe: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 59 Rest of the World: Advanced Energy Storage Systems Market Size, By Country, 2015–2022 (USD Million)
Table 60 Rest of the World: Advanced Energy Storage System Market, By Application, 2015–2022 (USD Million)
Table 61 Rest of the World: Transportation Application Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 62 Rest of the World: Advanced Energy Storage Systems Market, By Technology, 2015–2022 (USD Million)
Table 63 Rest of World: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015–2022 (USD Million)
Table 64 Rest of the World: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015–2022 (USD Million)
Table 65 Rest of the World: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015–2022 (USD Million)
Table 66 South Africa: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 67 Chile: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 68 Rest of the World: Advanced Energy Storage Systems Market, By Application, 2015–2022 (USD Million)
Table 69 Market Ranking, 2016


List of Figures (54 Figures)

Figure 1 Markets Covered: Advanced Energy Storage Systems Market Segmentation
Figure 2 Advanced Energy Storage Systems Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Asia Pacific Dominated the Advanced Energy Storage Systems Market in 2016
Figure 8 Advanced Energy Storage Systems Market: Application Snapshot
Figure 9 Advanced Energy Storage Systems Market: Technologies Snapshot
Figure 10 Attractive Opportunities in the Advanced Energy Storage Systems Market
Figure 11 Asia Pacific is Expected to Dominate the Advanced Energy Storage Systems Market in 2017
Figure 12 The Transportation Segment is Expected to Hold the Largest Share During the Forecast Period
Figure 13 Asia Pacific to Dominate the Market for Transportation Application of Advanced Energy Storage Systems During the Forecast Period
Figure 14 Electro Chemical to Dominate the Market for Technology in the Advanced Energy Storage Systems During the Forecast Period
Figure 15 Market Dynamics: Advanced Energy Storage Systems Market
Figure 16 Investment in Renewable Energy Sources, 2004–2016 (USD Billion)
Figure 17 Transportation Application is Projected to Grow Rapidly During 2017–2022
Figure 18 Asia Pacific is Expected to Drive the Growth of Advanced Energy Storage Systems in the Transportation Application During 2017–2022
Figure 19 Asia Pacific is Expected to Drive the Growth of Advanced Energy Storage Systems in the Grid Storage Application During 2017–2022
Figure 20 Electro Chemical Advanced Energy Storage Systems Market is Projected to Grow Rapidly During 2017–2022
Figure 21 Asia Pacific is Expecetd to Grow Rapidly in the Electro Chemical Advanced Energy Storage Systems Market During 2017–2022
Figure 22 Lithium-Ion Battery is Expecetd to Grow Rapidly in the Electro Chemical Advanced Energy Storage Systems Market During 2017–2022
Figure 23 Asia Pacific is Expected to Grow Rapidly in the Lithium-Ion Battery Advanced Energy Storage Systems Market During 2017–2022
Figure 24 North America is Expected to Have the Highest Share in the Lead Acid Battery Energy Storage Market During 2017–2022
Figure 25 Europe is Expected to Be the Highest Growing Region for the NAS Battery Advanced Energy Storage Systems Market During 2017–2022
Figure 26 Asia Pacific is Expected to Be the Highest Growing Region for the Flow Battery Advanced Energy Stoarge Systems Market During 2017–2022
Figure 27 Asia Pacific is Expected to Be the Highest Growing Region for the NIMH & NICD Battery Advanced Energy Stoarge Systems Market During 2017–2022
Figure 28 Europe is Expecetd to Grow Rapidly in the Thermal Advanced Energy Storage Systems Market During 2017–2022
Figure 29 Sensible Thermal Storage Technology is Expecetd to Grow Rapidly During 2017–2022
Figure 30 Rest of the World is Estimated to Have the Maximum Share in the Sensible Heat Thermal Advanced Energy Storage Systems Market During 2017–2022
Figure 31 Rest of the World is Estimated to Have the Maximum Share in the Latent Heat Thermal Advanced Energy Storage Systems Market During 2017–2022
Figure 32 Europe is Expecetd to Grow Rapidly in the Mechanical Energy Advanced Storage Systems Market During 2017–2022
Figure 33 Pumped Hydro Storage is Expecetd to Grow Rapidly in the Mechanical Advanced Energy Storage Systems Market During 2017–2022
Figure 34 Europe is Expected to Be the Highest Growing Region for the Pumped Hydro Advanced Energy Storage Systems Market During 2017–2022
Figure 35 North America is Estimated to Have the Maximum Share in the Flywheel Advanced Energy Storage Systems Market During 2017–2022
Figure 36 North America is Expecetd to Have the Largest Share in the Caes & Laes Advanced Energy Storage Systems Market During 2017–2022
Figure 37 North America has the Largest Share in the Other Advanced Energy Storage Systems Market
Figure 38 Regional Snapshot:South Korea, China and India are the Fastest Growing Countries, By Value, During the Forecast Period
Figure 39 Advanced Energy Storage Systems Market Share (Value), By Region, 2017
Figure 40 Asia Pacific, Advanced Energy Storage Systems Market Snapshot
Figure 41 North America, Advanced Energy Storage Systems Market Snapshot
Figure 42 Companies Adopted New Product Launches and Contracts and Agreements as Key Strategies to Capture the Market, 2013– July 2017
Figure 43 Market Evaluation Framework: New Product Launches, Mergers & Acquisitions, and Contracts & Agreements Have Fueled the Growth of Companies, 2013– July 2017
Figure 44 Advanced Energy Storage System Market (Global): Competitive Leadership Mapping, 2017
Figure 45 LG Chem, Ltd.: Company Snapshot
Figure 46 ABB Ltd.: Company Snapshot
Figure 47 GS Yuasa Corporation: Company Snapshot
Figure 48 Samsung SDI Co., Ltd.: Company Snapshot
Figure 49 General Electric Company: Company Snapshot
Figure 50 Tesla, Inc.: Company Snapshot
Figure 51 BYD Company Limited: Company Snapshot
Figure 52 Hitachi, Ltd.: Company Snapshot
Figure 53 Siemens AG: Company Snapshot
Figure 54 Panasonic Corporation: Company Snapshot

The global advanced energy storage systems market is projected to grow at a CAGR of 8.38%, from 2017 to 2022, to reach a market size of USD 19.04 Billion by 2022. This growth is attributed to increasing renewable energy investments, growth in the electric vehicles market globally, and regulatory changes demanding energy efficiency.

The report segments the advanced energy storage systems market, on the basis of technology, into electro chemical, thermal storage, mechanical, and others. The lithium-ion sub-segment, within the electro chemical segment led the advanced energy storage systems market in 2016, and is projected to dominate the market during the forecast period. Moreover, technological advancements and growing deployment of lithium-ion batteries is expected to result in economies of scale, which would lower the cost for this technology, further driving the growth in the market.

The advanced energy storage systems market has been segmented, based on application, into transportation and grid storage. The growth in this segment is primarily driven by increasing deployment of lithium-ion batteries in the electric vehicles market. Moreover, grid expansion and investment in modern infrastructure in developing countries also present opportunities for the growth.

Advanced Energy Storage Systems Market

In this report, the advanced energy storage systems market has been analyzed with respect to four regions, namely, North America, Europe, Asia Pacific, and the rest of the world. The market in Asia Pacific is expected to dominate the global advanced energy storage systems market, during the forecast period, owing to increasing number of electric vehicles in the region, especially in China.

High initial capital requirement for few technologies and hazardous environmental impact could be the restraints for the advanced energy storage systems market.

Leading players in the advanced energy storage systems market include ABB Ltd. (Switzerland), LG Chem, Ltd.( South Korea) , Samsung SDI Co., Ltd (South Korea), General Electric Company (US), and Tesla, Inc. (US). New product launches was the strategy most commonly adopted by top players, constituting 31% of the total developments, from 2013 to August 2017. It was followed by contracts & agreements and investments and expansions.

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Client Consult Problem Statement : MnM’s client, one of the market leaders in capacitors market, was interested to assess the Global market potential associated with their Product range in the application areas Power Generation, Transmission, Distribution and Testing, By Product Types ,By End-Use Industry, By Competitor along with competitive landscape.

Solution Provided:

1. Methodology Adopted by MnM:

MnM carried out this study through a MnM carried....

1. Methodology Adopted by MnM:

MnM carried out this study through a MnM carried out this study through a combination of extensive secondary research followed by primary discussions with Key Opinion Leaders across the value chain within target geographies. Both, top-down and bottom-up approaches are used every time for quarterly updates to cover key sources of primary information that included OEM’s of construction equipment in these geographies. By conducting detailed and informative primary discussions within these respondent categories across various functions, MnM analyzed current & forecasted quantitative market information, and developed deep-dive qualitative insights into industry trends & dynamics across each of the target countries. In total, MnM have conducted 20 primary discussions, of which 10 were within the supplier segment, while balance 10 spanned across covering demand side.

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To evaluate the demand for these products in various countries across the globe, namely, U.S., Canada, Brazil, Germany, Switzerland, Sweden, Norway, England, India, China and Japan. The upcoming projects in Power Generation, Transmission, Distribution and Testing were tracked. For Transmission related applications projects were captured on the basis of number of lines to be installed and the number of substations to be built in between. For power generation the upcoming projects were tracked and the number of generators to be installed was captured. For testing the upcoming expenditures in testing facilities by various companies was collected and for distribution application the investment and expansion of distribution network was gathered.

On the basis of telephonic interviews and field primaries assumptions were drawn for the number of suggested products that are used in a particular application. Further the numbers of product that will be required in the coming years were calculated through the analysis of data collected.

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