The global Compressed Air Energy Storage Market is expected to exceed more than US$ 8 Billion by 2024 at a CAGR of 27% in the given forecast period.
Compressed air energy storage, because the name suggests, is a technique for storing energy by using compressed air. Energy is mostly stored for utilizing it later to fulfill the high demand during peak hours. Growing interest in energy storage by utilizing renewable energy source has led to an upsurge in new and more advanced energy storage techniques. Compressed air energy storage has been the most prevalent form of energy storage after pumped-hydro technology. Compressed air energy storage is most well-liked because of its higher efficiency, greater reliability, and economic feasibility when compared to other energy storage technologies. It is recommended for large-scale energy storage and for meeting the growing energy needs.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the Global market. Key players profiled in the report Dresser-Rand, General Compression, Hydrostor, LightSail Energy and SustainX. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The Global Compressed Air Energy Storage Market is segmented on the lines of its application and region. Based on application it covers (Renewable Energy Integration, Grid Optimization and T&D Deferral). The Global Compressed Air Energy Storage Market on geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.
The scope of the report includes a detailed study of Global Compressed Air Energy Storage Market with the reasons given for variations in the growth of the industry in certain regions.
The Global Compressed Air Energy Storage Market has been segmented as below:
The Global Compressed Air Energy Storage Market is segmented on the basis of its Application Type and Region Analysis.
By Application Type this market is segmented on the basis of Renewable Energy Integration, Grid Optimization and T&D Deferral. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia Pacific and Rest of World.
This report provides:
1) An overview of the Global market for Compressed Air Energy Storage and related technologies.
2) Analyses of Global market trends, with data from 2015, estimates for 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2024.
3) Identifications of new market opportunities and targeted promotional plans for Global Compressed Air Energy Storage Market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
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The major driving factors of Global Compressed Air Energy Storage Market are as follows:
- Need to Reduce Power Blackouts
The challenges of Global Compressed Air Energy Storage Market are as follows:
- High Capital Cost for Compressed Air Energy Storage System
The trend factors of Global Compressed Air Energy Storage Market are as follows:
- Increased Investment in Storage Technology
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