Global Compressed Air Energy Storage Market to Reach US$ 5 Billion By 2022
January 12, 2018 --
Florida, January 12, 2018: The Global Compressed Air Energy Storage Market is segmented on the lines of its application and region. Based on application it covers (Renewable Energy Integration, Grid Optimization and T&D Deferral). The Global Compressed Air Energy Storage Market on geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.
Compressed air energy storage, because the name suggests, is a technique for storing energy by using compressed air. Energy is mostly stored for utilizing it later to fulfill the high demand during peak hours. Growing interest in energy storage by utilizing renewable energy source has led to an upsurge in new and more advanced energy storage techniques. Compressed air energy storage has been the most prevalent form of energy storage after pumped-hydro technology. Compressed air energy storage is most well-liked because of its higher efficiency, greater reliability, and economic feasibility when compared to other energy storage technologies. It is recommended for large-scale energy storage and for meeting the growing energy needs.
The global Compressed Air Energy Storage Market is expected to exceed more than US$ 5 Billion at a CAGR of 27% in the given forecast period.
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The major driving factors of Global Compressed Air Energy Storage Market are as follows:
- Need to Reduce Power Blackouts
The challenges of Global Compressed Air Energy Storage Market are as follows:
- High Capital Cost for Compressed Air Energy Storage System
The trend factors of Global Compressed Air Energy Storage Market are as follows:
- Increased Investment in Storage Technology
This report provides:
1) An overview of the Global market for Compressed Air Energy Storage and related technologies.
2) Analyses of Global market trends, with data from 2015, estimates for 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022.
3) Identifications of new market opportunities and targeted promotional plans for GlobalCompressed Air Energy Storage Market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
The scope of the report includes a detailed study of Global Compressed Air Energy Storage Market with the reasons given for variations in the growth of the industry in certain regions.
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The Global Compressed Air Energy Storage Market has been segmented as below:
By Application Type:
- Renewable Energy Integration
- Grid Optimization
- T&D Deferral
By Regional Analysis:
- North America
- Rest of the World
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