The Global Advanced Energy Storage and Fuel Cells Market is projected to reach USD XX billion by 2028, growing at a CAGR of XX% during the forecast period.

Advanced Energy Storage and Fuel Cells Market

Over the years, the Advance Energy Storage System has gained popularity with increasing concerns about climate change, leading to the adoption of renewable and sustainable energy resources as an option. The increasing deployment of renewable energy projects in all the major geographical regions along with the increasing adoption of electric and plugin hybrid electric vehicles has led to revolutionize the advanced energy storage market.

Based on type of battery, the advanced energy storage market is segmented into lithium ion, flow, molten salt, metal air, ultra. Among these, the lithium ion battery segment is expected to have the most prominent share in the market. This is due to the fact that they are being increasingly used in electric cars and smartphones. Both these markets are growing considerably and is expected to propel the demand for lithium ion batteries. Furthermore, Lithium Ion batteries provide several advantages including improved discharge and charge efficiency, longer life span and the ability to deep cycle while maintaining power.

Based on application, the advanced energy storage market is segmented into consumer electronics, automotive and grid storage & distribution. The automotive segment is growing due to the adoption of advanced storage and fuel cells in electric cars. The consumer electronics segment is expected to have a prominent share in the market due to the increasing popularity of wireless devices which use different kinds of cells.

The North American market is expected to have considerable share in the market. this can be attributed to the long-term Outlook for Solar Energy, favorable US policies to improve solar power generation capabilities, rising number of energy storage projects. NYC utility's ambitious plans for energy efficiency is also expected to propel the market during the forecast period. The Asia Pacific is also expected to have a significant share in the market mainly due to the adoption of renewable energy sources in China.

Advanced Energy Storage and Fuel Cells Market

Key Factors Impacting Growth of Advanced Energy Storage Market:

• Increase in the adoption rate of EVs and PHEVs

• Increase in deployment of Renewable Energy Projects

• Technological Advancements in the Field of Energy Storage

• High Costs of installation

Key Developments:

• In November 2016, Schneider Electric (France) and NGK Insulators (Japan) signed a memorandum of understanding to market sodium sulfur (NaS) energy storage systems.

• In May 2017, CCL Energy Group (UK), one of the UK’s largest distributors of renewable energy systems, acquired Firefly Solar Generators (UK) in a move which will increase group turnover to almost £30 million and pave the way for major expansion.

• In July 2017, Greensmith Energy (US) was acquired by Wartsila (Finland). The acquisition will enable Wärtsilä to rapidly expand its footprint in the energy storage market globally and position itself as a premier energy system integrator.

• In July 2017, AES Corp (US) and Siemens AG (Germany) initiated the formation of a joint venture to serve the rapidly growing energy storage market. The 50-50 joint venture, called Fluence, will sell the lithium-ion battery technologies currently sold by AES and Siemens, respectively.

• In September 2017, BYD Co. (China) won a multi-million dollar contract to supply 170-MW solar modules for PV power plant projects in the U.S., the company announced at the Solar Power International 2017 convention in Las Vegas

• In December 2017, Toshiba International Corporation (US) collaborated with NRG Energy (US) to deploy a new, cutting-edge battery energy storage system within the Electric Reliability Council of Texas (ERCOT) grid. The Elbow Creek Energy Storage project is a lithium-ion-based Toshiba battery system capable of storing and delivering up to 2 megawatts (MW) of electrical power.

What Does This Report Provide?

This report provides a detailed understanding of the global advanced energy storage and fuel cells market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the advanced energy storage market.

Market Segmentation:

By Type:

• Lithium Ion

• Flow

• Molten Salt

• Metal Air

• Ultra

By Application:

• Consumer Electronics

• Automotive

• Grid Storage & Distribution

By Region:

• North America

• By Country (US, Canada, Mexico)

• By Type

• By Application

• Western Europe

  • By Country (Germany, UK, France, Spain, Rest of Western Europe)

  • By Type

  • By Application

• Eastern Europe

  • By Country (Russia, Turkey, Rest of Eastern Europe)

  • By Type

  • By Application

• Asia Pacific

• By Country (China, Japan, India, Rest of Asia Pacific)

• By Type

• By Application

• Middle East

  • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

  • By Type

  • By Application

• Rest of the World

• By Region (South America, Africa, Rest of the World)

• By Type

• By Application

Companies Covered: Major Companies profiled in the report which are key players in the global advanced energy storage market. 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, Kokamco. Ltd, Leclanch SA, LG Chem, LightSail Energy, Maxwell Technologies Inc., McPhy Energy S.A.,NEC Energy Solutions, NGK Insulators Ltd., Proton OnSite, Redflow Limited, SaftGroupe S.A., Samsung SDI Co. Ltd., Siemens AG, Temporal Power, Tesla Inc., TianjinLishen Battery Co. Ltd., Toshiba International Corporation, and ViZn Energy Systems Inc...

Years Considered In The Study

 

Historic Year	2016, 2017
Base Year	2018
Forecast Period	2019-2028
CAGR % (2019-2028)	XX %

Reasons To Buy This Report:

• Market size estimation of the global advanced energy storage and fuel cell market on a regional and global basis.

• Unique research design for advanced energy storage market size estimation and forecast.

• Profiling of major companies operating in the advanced energy storage market with key developments.

• Broad scope to cover all the possible segments helping every stakeholder in the advanced energy storage market.

Customization:

We provide customization of the study to meet specific requirements:

• By Segment

• By Sub-segment

• By Region/Country

For more information, contact: [email protected]