Energy Storage Systems Market Anticipated to Grow at a CAGR of 7.2% during 2016-2024 from USD 170.0 Billion in 2016

New York, USA, 2018-Oct-17 — /EPR Network/ —According to Goldstein Research, global energy storage systems market is expected to reach USD 296.0 billion by 2024 from USD 170.0 billion in 2016, growing at a CAGR of 7.2% over the forecast period 2016-2024. Major driving factor for the expansion of energy storage systems market is the growing spending on renewable energy across the world.

Global energy storage systems market segmentation has been done on the basis of technology, application, end user and geography. Based on technology, mechanical & electrochemical energy storage systems segment are generating and distributing maximum power energy across the globe, where mechanical energy storage system occupies 24% share of global energy storage systems market in 2016. It is largely dominated by the Asia Pacific with a market share of 10.0% in 2016. Whereas the Middle East and Africa are projected to witness a rapid growth with a CAGR of 9.0% over the forecast period.

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Market Segmentation

On the basis of our in-depth analysis, Global Energy Storage Systems Market can be segmented as follows:

Based on Technology

  • Mechanical Energy Storage
  • Pumped Hydro Storage (PHS)
  • Compressed Air Energy Storage (CAES)
  • Flywheels
  • Liquid Air Energy Storage (LAES)
  • Hot Water Systems
  • Electrochemical Energy Storage
  • Advanced Lead Acid battery
  • Lithium-Ion (LI-ION) battery
  • Sodium Sulfur (NAS) Battery
  • Flow Systems
  • Thermal Energy Storage
  • Pumped Heat Electrical Storage (PHES)
  • Concentrated Solar Power (CSP)
  • Chemical Energy Storage
  • Hydrogen Storage
  • Solar Power to gas (P2G)

Based on Application

  • Grid Storage
  • Energy Transmission

Based on End-User

  • Residential
  • Commercial
  • Energy & Utilities

By Region

  • North America Energy Storage Systems Market Analysis, 2016-2024
  • Europe Energy Storage Systems Market Analysis, 2016-2024
  • The Middle East And Africa Energy Storage Systems Market Analysis, 2016-2024
  • Latin America Energy Storage Systems Market Analysis, 2016-2024
  • Asia Pacific Energy Storage Systems Market Analysis, 2016-2024
  • Rest Of The World Energy Storage Systems Market Analysis, 2016-2024

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Energy Storage Systems Market Analysis” contains a detailed overview of the global energy storage systems market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by technology, application, end user and geography.

The Global Energy Storage Systems Market Report highlights the competitive outlook of major global players that includes business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The in-depth analysis of energy storage systems market report will help the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the global energy storage systems market discussed in the report are: ABB Ltd., LG Chem, Ltd., Tesla, Inc., Samsung SDI Co, Ltd, AES Energy Storage, InSync Energy, General Electric, Panasonic, Mitsubishi Heavy Industries, Enersys, Active Power, Beacon Power, Greensmith Energy Management Systems, Convergent Energy and Power Inc., Sonnen, Redflow, Eos Energy Storage, Alevo, Seeo Inc., BYD Company Ltd., Scheider Electric, SMA Solar Technology AG, SK Holdings, EnerbraxAcumuladoresLtda, Eguana Technologies, Autobot SACI, Imergy Power Systems., Ionotec Ltd., Exide Industries Ltd.,etc.

Further, Global Energy Storage Systems Market Report encompasses the major trends & growth opportunities, market dynamics and other growth factors. The Energy Storage Systems Market Size also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

About Goldstein Research

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Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts.

Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on energy industry analysis reports helping various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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