Market Overview

Global Advanced Energy Storage Systems Market 2018-2022| Increased Adoption of Microgrids to Drive Growth| Technavio


The global advanced energy storage systems market is expected to post a
CAGR of over 8% during the period 2018-2022, according to the
latest market research report by Technavio.

This press release features multimedia. View the full release here:

Technavio has published a new market research report on the global advanced energy storage systems m ...

Technavio has published a new market research report on the global advanced energy storage systems market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the government
initiatives to promote advanced energy storage. Electricity grids
require a balance between supply and demand at any given moment. It
requires constant adjustments to the supply for predictable changes in
demand as well as unexpected changes due to equipment overloads or force
majeure activities. These factors make it necessary for energy storage
systems to create a balanced and reliable grid system.

This market research report on the global
advanced energy storage systems market 2018-2022
also provides
an analysis of the most important trends expected to impact the market
outlook during the forecast period. Technavio classifies an emerging
trend as a major factor that has the potential to significantly impact
the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing

In this report, Technavio highlights the increased adoption of
microgrids as one of the key emerging trends in the global advanced
energy storage systems market:

Global advanced energy storage systems market:
Increased adoption of microgrids

A microgrid is a small-scale power grid that has its own generation and
storage resources and definable boundaries. Microgrids can operate
independently or collaboratively with other small power grids. If the
microgrid is integrated into the main power grid, it is referred to as a
hybrid microgrid. A microgrid can connect and disconnect from the power
grid to operate in both grid-connected mode and island mode.

"A microgrid can shift to island mode when there is an outage on the
main power grid or if the system was disconnected from the main grid
intentionally. When a microgrid is connected to the main grid and has a
renewable energy source, energy storage makes sure no amount of the
energy generated goes waste,"
says a senior analyst at Technavio for
research on energy storage.

Global advanced energy storage systems market:
Segmentation analysis

This market research report segments the global advanced energy storage
systems market by technology (thermal energy storage and electrochemical
energy storage) and geographical regions (APAC, EMEA, and the Americas).

The thermal energy storage segment held the largest market share in
2017, accounting for nearly 51% of the market. This technology segment
is expected to dominate the global market throughout the forecast period.

EMEA led the market in 2017 with a market share of nearly 50% of the
market share. The market share occupied by this region is anticipated to
decrease by nearly 11% during 2018-2022.

Looking for more information on this market? Request
a free sample report

Technavio's sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio's comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team

View Comments and Join the Discussion!