Energy is one of the basic requirements in almost all fields and sectors. The rising global requirement for energy is triggering research and development teams across the globe to develop new systems that can provide better and adequate amount of energy. The utility-scale energy storage technologies market is expected to excel effectively from 2013 to 2018 due to the wide applications that require a large amount of energy.
The utility-scale energy storage technologies market has notably excelled in Asia and Australia. The market has good potential and can grow effectively in these regions over the next five years. The different methods of storing energy, segments the market into thermal, mechanical, and electrochemical sections.
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The rising applications in different industries are generating the demand for more energy thereby boosting the market globally. With context to the current scenario, the required amount of energy can’t be produced as and when required and hence a requirement for energy storage systems was triggered that fuelled the market growth.
Research and development teams across the globe are working to develop effective and efficient systems that would store and retain large amounts of energy. The growing worldwide demand for energy is the primary driving force leading to the growth of the market.
The initial cost involved in installing the systems and their maintenance is one of the inhibiting factors restraining the market growth. Technologies like advanced batteries have been invented which are capable of efficiently storing a certain amount of energy. These systems are often exhausted during peak times when a large amount of energy is required by most industrial sectors. The growing demand for utility-scale energy storage systems is expected to open new opportunities across the world.
Some of the leading companies in this field are AES Ilumina LLC, which is a joint venture between AES Corporation and Riverstone Holdings LLC that was established in 2008, and Compressed Air Energy Storage Products and Systems.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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