Global Advanced Energy Storage Market to Reach 20.1 Thousand Megawatts by 2030

NEW YORK, March 13, 2023 /PRNewswire/ --The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

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Global Advanced Energy Storage Market to Reach 20.1 Thousand Megawatts by 2030

In the changed post COVID-19 business landscape, the global market for Advanced Energy Storage estimated at 11.7 Thousand Megawatts in the year 2022, is projected to reach a revised size of 20.1 Thousand Megawatts by 2030, growing at aCAGR of 7% over the period 2022-2030. Thermal Energy Storage, one of the segments analyzed in the report, is projected to record 8.1% CAGR and reach 10.2 Thousand Megawatts by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electrochemical Energy Storage segment is readjusted to a revised 6.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at 3.5 Thousand Megawatts, While China is Forecast to Grow at 6.3% CAGR

The Advanced Energy Storage market in the U.S. is estimated at 3.5 Thousand Megawatts in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of 3.4 Thousand Megawatts by the year 2030 trailing a CAGR of 6.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.6% and 5.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.

Select Competitors (Total 94 Featured)

- ABB Ltd.

- Active Power, Inc.

- AES Energy Storage, LLC

- Alevo Group S.A.

- Altair Nanotechnologies, Inc.

- Amber Kinetics, Inc.

- Areva

- Ashlawn Energy, LLC

- Axion Power International, Inc.

- Beacon Power, LLC

- BYD Co. Ltd.

- Calnetix Technologies, LLC

- Dresser-Rand Group, Inc.

- ECOULT

- Electrochaea GmbH

- Encell Technology, Inc.

- EnSync Energy Systems, Inc.

- Exide Technologies

- General Electric Company

- Gridflex Energy, LLC

- Highview Enterprises Ltd.

- Hitachi, Ltd.

- Hyper Tech Research, Inc.

- IMS group AS

- ITM Power Plc

- Kokam Co., Ltd

- Leclanché SA

- LG Chem

- LightSail Energy

- Maxwell Technologies, Inc.

- McPhy Energy S.A.

- NEC Energy Solutions

- NGK Insulators, Ltd.

- Proton OnSite

- Redflow Limited

- Saft Groupe S.A.

- Samsung SDI Co., Ltd.

- Siemens AG

- Temporal Power

- Tesla, Inc.

- Tianjin Lishen Battery Co., Ltd.

- Toshiba International Corporation

- ViZn Energy Systems, Inc.

Read the full report: https://www.reportlinker.com/p02772345/?utm_source=PRN

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights

World Market Trajectories

Rising Share of Intermittent Sources of Energy in Utility

Energy Generation Portfolio: The Cornerstone for the Growth of

Utility Grade Advanced Energy Storage Technologies

Recent Market Activity

Review of Renewable Energy Projects Undertaken Worldwide and

Regulations Supporting Renewable Electricity-to-Grid

Integration

Declining Cost of Wind and Solar Power Make Renewables an

Important Part of Utility Energy Portfolio

Escalating Climate Change Adds Urgency to the Renewable Energy

Revolution Underway in the Global Economy

How the Renewable Energy Boom Benefits Advanced Energy Storage

Technologies

Despite Declines in Renewable Investments, Outlook for Advanced

Energy Storage Remains Bright

Prolonged Softness in Oil Prices: What It Means for Renewable-

to-Grid Integration

Market Outlook

Advanced Energy Storage - Global Key Competitors Percentage

Market Share in 2022 (E)

Competitive Market Presence - Strong/Active/Niche/Trivial for

Players Worldwide in 2022 (E)

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

ABB Ltd. (India)

Active Power, Inc. (USA)

AES Energy Storage, LLC (USA)

Alevo Group S.A. (Switzerland)

Altair Nanotechnologies, Inc. (Canada)

Amber Kinetics, Inc. (USA)

Areva (France)

Ashlawn Energy, LLC (USA)

Axion Power International, Inc. (USA)

Beacon Power, LLC (USA)

BYD Co. Ltd. (China)

Calnetix Technologies, LLC (USA)

ECOULT (Australia)

Electrochaea GmbH (Germany)

Encell Technology, Inc. (USA)

EnSync Energy Systems, Inc. (USA)

Exide Technologies (USA)

General Electric Company (USA)

Gridflex Energy, LLC (USA)

Highview Enterprises Ltd. (UK)

Hitachi, Ltd. (Japan)

Hyper Tech Research, Inc. (USA)

IMS group AS (Norway)

ITM Power Plc (UK)

Kokam co., Ltd (Korea)

Leclanché SA (Switzerland)

LG Chem (Korea)

LightSail Energy (USA)

Maxwell Technologies, Inc. (USA)

McPhy Energy S.A. (France)

NEC Energy Solutions (Japan)

NGK Insulators, Ltd. (Japan)

Proton OnSite (USA)

Redflow Limited (Australia)

Saft Groupe S.A. (France)

Samsung SDI Co., Ltd. (South Korea)

Siemens AG (Germany)

Dresser-Rand Group, Inc. (USA)

Temporal Power (Canada)

Tesla, Inc. (USA)

Tianjin Lishen Battery Co., Ltd. (China)

Toshiba International Corporation (USA)

ViZn Energy Systems, Inc. (USA)

3. MARKET TRENDS & DRIVERS

Major Market Trends and Drivers

Rising Investments in Energy Storage Projects Bodes Well for

the Growth of Advanced Energy Storage Technologies

Aging Energy Infrastructure Drives Opportunities for Energy

Storage as a Method of Modernizing Energy Grids

Are Batteries Ready for Mass Commercialization in Grid-Level

Energy Storage?

?Value Stacking?: A Vital Product Development & Design Strategy

to Counter the High CAPEX of Battery Energy Storage

Technologies

Lithium Ion (Li-ion) Batteries: The Leader in Utility-Scale

Applications

Robust Surge in Solar and Wind Farms Throws the Focus Squarely

on Grid Stability

Energy Storage Assets Remain Vital Towards Enhancing the

Operation of Smart Grids

Flywheel Systems Emerge as a Reasonable Alternative to

Batteries Uniquely Suited to Utility-Scale Applications

Large Capacity Sodium Sulfur Battery Grow in Prominence as a

Promising Clean Energy Technology

CAES Systems to Offer Utility Grids Cost-Effective Bulk Storage

LAES Promises Environmentally Neutral Grid Scale Energy Storage

without Geographical Constraints

SMES: A Promising Advanced Energy Storage Technology

Hydrogen Storage Offers Seamless Integration of Wind and Solar

Energy into the Grid

Continuous Innovations Push a Bevy of Exciting Storage

Technologies Closer to Commercialization

Although Lower Than Pre-Recession Levels, World Demand for

Energy Will Remain a Key Driver of Growth

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for

Advanced Energy Storage by Geographic Region - USA, Canada,

Japan, China, Europe, Asia-Pacific and Rest of World Markets -

Independent Analysis of Annual Sales in Megawatts for Years

2022 through 2030 and % CAGR

Table 2: World 8-Year Perspective for Advanced Energy Storage

by Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World Markets for Years 2023 & 2030

Table 3: World Recent Past, Current & Future Analysis for

Thermal Energy Storage by Geographic Region - USA, Canada,

Japan, China, Europe, Asia-Pacific and Rest of World Markets -

Independent Analysis of Annual Sales in Megawatts for Years

2022 through 2030 and % CAGR

Table 4: World 8-Year Perspective for Thermal Energy Storage by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 5: World Recent Past, Current & Future Analysis for

Electrochemical Energy Storage by Geographic Region - USA,

Canada, Japan, China, Europe, Asia-Pacific and Rest of World

Markets - Independent Analysis of Annual Sales in Megawatts for

Years 2022 through 2030 and % CAGR

Table 6: World 8-Year Perspective for Electrochemical Energy

Storage by Geographic Region - Percentage Breakdown of Value

Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and

Rest of World for Years 2023 & 2030

Table 7: World Recent Past, Current & Future Analysis for Other

Technologies by Geographic Region - USA, Canada, Japan, China,

Europe, Asia-Pacific and Rest of World Markets - Independent

Analysis of Annual Sales in Megawatts for Years 2022 through

2030 and % CAGR

Table 8: World 8-Year Perspective for Other Technologies by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 9: World Recent Past, Current & Future Analysis for

Transportation by Geographic Region - USA, Canada, Japan,

China, Europe, Asia-Pacific and Rest of World Markets -

Independent Analysis of Annual Sales in Megawatts for Years

2022 through 2030 and % CAGR

Table 10: World 8-Year Perspective for Transportation by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 11: World Recent Past, Current & Future Analysis for Grid

Storage by Geographic Region - USA, Canada, Japan, China,

Europe, Asia-Pacific and Rest of World Markets - Independent

Analysis of Annual Sales in Megawatts for Years 2022 through

2030 and % CAGR

Table 12: World 8-Year Perspective for Grid Storage by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 13: World Advanced Energy Storage Market Analysis of

Annual Sales in Megawatts for Years 2014 through 2030

III. MARKET ANALYSIS

UNITED STATES

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in the United States for 2023 (E)

Table 14: USA Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 15: USA 8-Year Perspective for Advanced Energy Storage by

Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 16: USA Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 17: USA 8-Year Perspective for Advanced Energy Storage by

Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

CANADA

Table 18: Canada Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 19: Canada 8-Year Perspective for Advanced Energy Storage

by Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 20: Canada Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 21: Canada 8-Year Perspective for Advanced Energy Storage

by Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

JAPAN

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in Japan for 2023 (E)

Table 22: Japan Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 23: Japan 8-Year Perspective for Advanced Energy Storage

by Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 24: Japan Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 25: Japan 8-Year Perspective for Advanced Energy Storage

by Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

CHINA

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in China for 2023 (E)

Table 26: China Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 27: China 8-Year Perspective for Advanced Energy Storage

by Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 28: China Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 29: China 8-Year Perspective for Advanced Energy Storage

by Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

EUROPE

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in Europe for 2023 (E)

Table 30: Europe Recent Past, Current & Future Analysis for

Advanced Energy Storage by Geographic Region - France, Germany,

Italy, UK and Rest of Europe Markets - Independent Analysis of

Annual Sales in Megawatts for Years 2022 through 2030 and %

CAGR

Table 31: Europe 8-Year Perspective for Advanced Energy Storage

by Geographic Region - Percentage Breakdown of Value Sales for

France, Germany, Italy, UK and Rest of Europe Markets for Years

2023 & 2030

Table 32: Europe Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 33: Europe 8-Year Perspective for Advanced Energy Storage

by Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 34: Europe Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 35: Europe 8-Year Perspective for Advanced Energy Storage

by Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

FRANCE

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in France for 2023 (E)

Table 36: France Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 37: France 8-Year Perspective for Advanced Energy Storage

by Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 38: France Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 39: France 8-Year Perspective for Advanced Energy Storage

by Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

GERMANY

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in Germany for 2023 (E)

Table 40: Germany Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 41: Germany 8-Year Perspective for Advanced Energy

Storage by Technology - Percentage Breakdown of Value Sales for

Thermal Energy Storage, Electrochemical Energy Storage and

Other Technologies for the Years 2023 & 2030

Table 42: Germany Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 43: Germany 8-Year Perspective for Advanced Energy

Storage by Application - Percentage Breakdown of Value Sales

for Transportation and Grid Storage for the Years 2023 & 2030

ITALY

Table 44: Italy Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 45: Italy 8-Year Perspective for Advanced Energy Storage

by Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 46: Italy Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 47: Italy 8-Year Perspective for Advanced Energy Storage

by Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

UNITED KINGDOM

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in the United Kingdom for 2023 (E)

Table 48: UK Recent Past, Current & Future Analysis for

Advanced Energy Storage by Technology - Thermal Energy Storage,

Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the Years

2022 through 2030 and % CAGR

Table 49: UK 8-Year Perspective for Advanced Energy Storage by

Technology - Percentage Breakdown of Value Sales for Thermal

Energy Storage, Electrochemical Energy Storage and Other

Technologies for the Years 2023 & 2030

Table 50: UK Recent Past, Current & Future Analysis for

Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 51: UK 8-Year Perspective for Advanced Energy Storage by

Application - Percentage Breakdown of Value Sales for

Transportation and Grid Storage for the Years 2023 & 2030

REST OF EUROPE

Table 52: Rest of Europe Recent Past, Current & Future Analysis

for Advanced Energy Storage by Technology - Thermal Energy

Storage, Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the

Years 2022 through 2030 and % CAGR

Table 53: Rest of Europe 8-Year Perspective for Advanced Energy

Storage by Technology - Percentage Breakdown of Value Sales for

Thermal Energy Storage, Electrochemical Energy Storage and

Other Technologies for the Years 2023 & 2030

Table 54: Rest of Europe Recent Past, Current & Future Analysis

for Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 55: Rest of Europe 8-Year Perspective for Advanced Energy

Storage by Application - Percentage Breakdown of Value Sales

for Transportation and Grid Storage for the Years 2023 & 2030

ASIA-PACIFIC

Advanced Energy Storage Market Presence - Strong/Active/Niche/

Trivial - Key Competitors in Asia-Pacific for 2023 (E)

Table 56: Asia-Pacific Recent Past, Current & Future Analysis

for Advanced Energy Storage by Technology - Thermal Energy

Storage, Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the

Years 2022 through 2030 and % CAGR

Table 57: Asia-Pacific 8-Year Perspective for Advanced Energy

Storage by Technology - Percentage Breakdown of Value Sales for

Thermal Energy Storage, Electrochemical Energy Storage and

Other Technologies for the Years 2023 & 2030

Table 58: Asia-Pacific Recent Past, Current & Future Analysis

for Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 59: Asia-Pacific 8-Year Perspective for Advanced Energy

Storage by Application - Percentage Breakdown of Value Sales

for Transportation and Grid Storage for the Years 2023 & 2030

REST OF WORLD

Table 60: Rest of World Recent Past, Current & Future Analysis

for Advanced Energy Storage by Technology - Thermal Energy

Storage, Electrochemical Energy Storage and Other Technologies -

Independent Analysis of Annual Sales in Megawatts for the

Years 2022 through 2030 and % CAGR

Table 61: Rest of World 8-Year Perspective for Advanced Energy

Storage by Technology - Percentage Breakdown of Value Sales for

Thermal Energy Storage, Electrochemical Energy Storage and

Other Technologies for the Years 2023 & 2030

Table 62: Rest of World Recent Past, Current & Future Analysis

for Advanced Energy Storage by Application - Transportation and

Grid Storage - Independent Analysis of Annual Sales in

Megawatts for the Years 2022 through 2030 and % CAGR

Table 63: Rest of World 8-Year Perspective for Advanced Energy

Storage by Application - Percentage Breakdown of Value Sales

for Transportation and Grid Storage for the Years 2023 & 2030

IV. COMPETITION

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