Wednesday, May 30, 2012
New Report: Energy Storage Market to Total $1.66bn in 2012
Electricity grids are becoming increasingly unstable due to strong electricity demand growth and increasing penetration of intermittent energy generation sources. In order to manage this, large amounts of inefficient spinning reserves are required to quickly be added to or removed from power supply according to demand patterns. Every grid network must be able to supply peak power, which is only required for a small part of the day, meaning grid networks are somewhat wasteful. Even in more developed economies loss of energy from generation to consumer can easily reach 7%, causing unnecessary extra carbon dioxide emissions and a greater use of costly fossil fuels.
Energy storage technologies can thus provide a number of solutions in both more efficiently controlling the flow of electricity through a grid network and improving the consistency of intermittent generation feed-in. By storing energy when demand is low and releasing it when demand is high, transmission will be smoother and generation capacity can be optimized. However, there are a large number of different applications which energy storage technologies can perform, and a large number of different technologies competing to manage these tasks. The Energy Storage Technologies (EST) Market 2012-2022 looks at the prospects of each of these technologies discussing the advantages and disadvantages of each with detailed forecast for each technology. Visiongain has calculated the global market for energy storage technologies in 2012 will reach $1.66bn.
Visiongain provides global energy storage market forecasts for the period 2012-2022, which is broken down into 7 energy storage technology submarkets. In addition, 11 national energy storage technologies markets are forecast and analyzed over the period 2012-2022, along with countries in the rest of the world. All global national and submarket forecasts are also accompanied by corresponding capacity forecasts for the 2012-2022 period. The report contains 173 tables, charts and graphs that add visual analysis in order to explain developing trends within the energy storage technologies market. Interviews with 3 company experts in the energy storage technology industry are included adding key insight to visiongain’s analysis, as well as profiles of 62 of the leading companies working in the energy storage technologies market.