The global Advance Energy Storage market is expected to grow significantly from USD 8.8 billion in 2017, to USD 17.6 million in 2024, at a CAGR of 9.1% from 2018 to 2024. The growth of the Advance Energy Storage across the globe is primarily driven by advancement in storage technologies to support more reliable electric system. The years used for the assessment are as follows;
- Historical year : 2014, 2015, 2016
- Base year : 2017
- Forecast period : 2018 – 2024
The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
- Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources.
- Interacting with key opinion leaders of the market and developing data points based on interaction with them.
- Study of past trends in the market and their year on year Impact on the market size and share.
- Analyzing the collected data points.
- Bridging the data points to calculate the total Advance Energy Storage market and it various segments.
- Anticipating potential risks.
- Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the Advance Energy Storage market.
- Finalizing the overall size and share for the global Advance Energy Storage market.
- To classify the global Advance Energy Storage market into segments by Technology, Application, System, End-Use, Region and analyze their growth prospects individually.
- To analyze market trends, opportunities, drivers and restraints associated with the Advance Energy Storage market.
- Profiling key companies operating in the global Advance Energy Storage market.
- To study market response with respect to the mergers and acquisitions in the industry.
The research scope for global Advance Energy Storage market is as follows:
- Pumped Hydro
- Lead acid
- Lithium ion
- Sodium Sulfur
- Sodium Nickel
- Flow Batteries
- SMES (Superconducting Magnetic Energy Storage)
- Power to power
- Power to Gas
- Grid Storage
- Micro Grid
- North America
- Rest of World (RoW)