Advanced Energy Storage Global Market - Overview
Advanced Energy Storage is a rapidly evolving technology crucial for new age electricity grids. AESS include a software, data and controls platform that fundamentally improves the way smarter energy works. A range of advanced flexible energy storage systems solutions are available in the market. Advanced Energy Storage Systems facilitate reduced energy cost, improved power reliability, and address a range of microgrid and renewable storage applications. Advanced ESS are made smarter using the Energy Management Operating System software and controls platform.
Accrediting the prominence Advanced Energy Storage is gaining in the current scenario and projecting the traction its growing market size would gain in the future, the Market Research Future, recently published a distinctive study report according to which the global Advanced Energy Storage market is forecasted to perceive phenomenal accruals by 2027, crossing its previous growth records in terms of value registering substantial CAGR during the period 2017 to 2027.
The Global Advanced Energy Storage Market is predominantly driven by the Increasing popularity of electric vehicles. Increasing popularity of electric vehicle is one of the key factors pushing the advanced energy storage system market. Renewable energy sources are becoming more and more popular with the decline in the renewable energy sources, increasing energy arbitrage opportunities and increasing renewable energy installations are other factors that are boosting the growth of the Advanced Energy Storage market. Other factors that foster the Advanced Energy Storage Market growth include; rising investments transpired in to the field of renewable energy, significantly dropping cost of lithium-ion battery, coupled with the electrification of the transportation sector.
Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Advanced Energy Storage Systems Market Research Report - Forecast to 2027”
Some of the key players in the advanced energy storage market are
• Yuasa Corporation (Japan),
• Samsung SDI Co. Ltd. (South Korea),
• Hitachi Limited (Japan),
• Toshiba Corporation (Japan),
• ABB Limited (Switzerland),
• Siemens A.G. (Germany),
• Alstom (France),
• Exide Technologies (U.S.),
• L.G. Chem. Limited (South Korea),
• Alevo Group S.A. (U.S.) ,
• Maxwell Technologies Inc. (U.S.)
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Industry/ Innovation/ Related News
November 15, 2017 - India Energy Storage Alliance (IESA) announced that Large-scale adoption of energy storage is expected to attract investment over $3 billion in the next three years. These opportunities are expected to attract investment in 2-4 giga factories for advanced li-ion batteries in India, attracting over $3 billion investments in next 3 years. Already, over 1 GWh of annual assembling capacity is being set up for converting imported li-ion cells into battery modules by various Indian companies.
October 27, 2017 – Swiss institutional investment group SUSI Partners announced its plans to finance C$120 million (US$94.56 million) of commercial and industrial (C&I) sector energy storage projects by Canadian project developer/owner NRStor. The company signed a deal with fellow Canadian company Hydrostor, which delivers advanced adiabatic compressed air energy storage (A-CAES) from underground caverns, to jointly develop utility-scale energy storage projects across Canada.
October, 2017 – The Indian energy storage industry announced a 28-megawatt-hour battery plant in the Andaman and Nicobar Islands will kick-start a utility-scale market that has been slow to emerge. IESA has a vision of making India a global advanced energy storage systems manufacturing hub by 2020. Given India’s track record on utility-scale energy storage, the aim is ambitious. However, India is sure that it will help open up opportunities for such hybrid projects in India
October 06, 2017 – Invenergy, North America’s largest privately-held renewable energy company and a prominent player operating in the Advanced Energy Storage market, honoured with Oracle’s 2017 Sustainability Innovation Award for its efforts in promoting sustainable environmental practices within its business. The award was presented to Invenergy this week during Oracle’s Open World conference in San Francisco, CA.
Sept. 14, 2017 – Invenergy, announced that it has signed a 125-megawatt wind power purchase agreement (PPA) with Kimberly-Clark. The deal will support Kimberly-Clark’s goal of reducing greenhouse gas emissions from operations while improving energy efficiency and cost savings. Since 2015, Invenergy has contracted to sell more off-site renewable energy to corporate customers in the U.S. than any other independent supplier in the industry.
Advanced Energy Storage Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Advanced Energy Storage appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Technology and services. Vendors operating in the Advanced Energy Storage Market strive to specialize in large-scale advanced battery systems that instantaneously absorb and inject energy to help with grid management, while minimizing infrastructure costs. Large-scale batteries support grid reliability by regulating frequency and balancing variations in wind and solar production. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. They compete based on pricing, servicing and technology enhanced solutions. Advanced Energy Storage market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. These players use their experience in developing, financing, engineering, and operating battery storage assets combined with their key supplier relationships that allows them to customize storage solutions and operate profitably.
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