Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.
Energy storage can smooth out or firm wind- and solar-farm output; that is, it can reduce the variability of power produced at a given moment. The incremental price for firming wind power can be as low as two to three cents per kilowatt-hour. Solar-power firming generally costs as much as ten cents per kilowatt-hour, because solar farms typically operate for fewer hours per day than wind farms.
In 2019, the market size of Grid Energy Storage is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Grid Energy Storage.
This report studies the global market size of Grid Energy Storage, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Grid Energy Storage production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
Market Segment by Product Type
Pumped Hydroelectric Storage System
Compressed Air Energy Storage
Molten Salt Storage
Market Segment by Application
Key Regions split in this report: breakdown data for each region.
Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
To analyze and research the Grid Energy Storage status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
To present the key Grid Energy Storage manufacturers, presenting the sales, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
In this study, the years considered to estimate the market size of Grid Energy Storage are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025