Advanced Energy StorageMarket to Witness Sales Slump in Near Term Due to COVID-19 Long-term Outlook Remains Positive

 


Advanced Energy Storage Market Estimated To Experience A Hike in Growth

 

A market research analysis and estimations carried out in this Advanced Energy Storage Market report aids businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to be followed for outdoing the rivals. This Advanced Energy Storage Market study has been analyzed and takes into account the CAGR of the market, valuation, volume, revenue including historical and forecast, sales (current and future), and other significant factors related to the global market. This Advanced Energy Storage Market report also gives description about the complete market analysis with inputs from industry experts.

 

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Lithium-ion batteries segment dominated the advanced energy storage system market in 2016 and is expected to maintain the trend during the forecast period. Factors leading to high popularity of lithium-ion batteries are mainly due its easy availability, ubiquitous use, and low pricing of the product. Electrically powered vehicles are increasingly using lithium-ion batteries, which in turn will increase the growth of lithium-ion segment during the forecast period. Asia Pacific is expected to be the leading region of advanced energy storage market. According to International Energy Agency (IEA) estimated that emerging countries such as China and India will need to double their electrical power output by 2020 in order to meet the rising demand. Also from the same source, emerging nations will accumulate around 80 percent energy production and consumption by 2035. Since most of the emerging countries lies in the region of Asia Pacific, it is expected that this region will boost AES market in the near future.

 

AES systems were mainly used in the transportation segment in 2016. The increasing adoption of electric vehicles is a major driver that has resulted in the rising demand for AES systems in the transportation sector. The transportation sector accounted for 50.20% market share in the AES systems market. According to the International Energy Agency, over 750000 electric car sales were recorded worldwide. This is expected to positively boost the global AES systems market. China and the U.S. are expected to dominate the electric vehicle sales during the forecast period. China is the leading consumer of electric vehicles registering as many as 352,000 new electric vehicles in 2016.

 

Multinational players

Some of the leading players in the AES include ABB Ltd., LG Chem, Ltd., Samsung SDI Co., Ltd, General Electric Company, and Tesla Inc.

 

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Key Reasons to Purchase this Advanced Energy Storage Market Report:

  • Gain an overview of the historic development, current market situation, and future perspective of the Advanced Energy Storage market from 2020-2027
  • Analyze industry developments and identify market opportunities
  • To study market dynamics such as drivers, restraints, and opportunities as well as factors that are driving the market and will affect the Advanced Energy Storage market growth
  • Save time and money with the key market data which has been added in the report
  • Assessing various perspectives of the market
  • Quantitative assessment of the current market size and future estimations for the period from 2020 to 2027
  • Identify the recent developments, market shares and strategies adopted by the major market players
  • The report profiles key companies with the information about the vital players operating in the Advanced Energy Storage market and SWOT analysis of the key vendors

 

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