Growth Of Utility-Scale Energy Storage Technologies Market 2016 - 202 Nov 2016 | Page 2

REPORT DESCRIPTION

The growing demand for energy is likely to stimulate the application of utility-scale energy storage technologies globally in
the coming years. The usability of these technologies in increasing the efficiency of energy storage systems is expected to
fuel their adoption significantly across the world over the next few years. The increasing need to reduce carbon footprint
is also expected to drive the growth of this market in the near future.
Complete Report with TOC : http://www.transparencymarketresearch.com/utility-scale-energy-storagetechnologies.html
The global market for utility-scale energy storage technologies has been broadly assessed on the basis of technology
and geography. Based on technology, the market has been segmented into pumped hydro-power, compressed air energy
storage, thermal energy storage, flywheels, and solid state batteries. Based on geography, the market has been
categorized into North America, Europe, Asia Pacific, and the Rest of the World.
This research study has been prepared after extensive research of the worldwide utility-scale energy storage technologies
market and provides a complete overview of this market considering its current as well as historical performance. Key
trends, growth drivers, limitations, opportunities, and market potential have also been discussed at length in this report.
Overview of Utility-Scale Energy Storage Technologies Market
The rising urbanization across the world has led to a significant surge in the need for energy, causing a massive energy
load on grids. Energy storages are required to be integrated with power grids in order to take that load off. This factor has
created a significant requirement for utility-scale energy storage technologies across the world.
Among the technologies, the demand for pumped hydro-power is higher than others. Apart from this, solid state batteries
and compressed air energy storage are also witnessing healthy growth in their demand.
On the geographical front, North America is leading the global market. With the deployment of nearly 15 utility-scale
technologies for energy storage, the region is likely to remain dominant over the forecast period. Europe and Asia Pacific
are also projected to report a significant rise over the next few years.
Despite the bright future, the market may be hampered by stringent government regulations associated with energy
storage in the years to come. However, the rising investment in research and development activities in this field is
projected to create lucrative growth opportunities for the companies functioning in the global utility-scale energy storage
technologies market in the near future.