Future Market Insights: Energy Storage Devices Market Value and Growth 2014-2020

ASEAN Energy

Storage Devices

Market

Share, Trends, Analysis,

Research, Report,

Opportunities,

Segmentation and Forecast,

2014

Future Market Insights

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ReportDescription

Report Description

Rise in the energy demand and depleting fossil fuels is pushing the market towards nonconventional sources of energy. Energy demand is expected to increase by 70% between

2012 and 2035. The existing conventional sources of energy are depleting at a much

faster rate than expected and their depletion is equally proving detrimental to the

climate. Although renewable sources of energy will help in addressing all the

environmental issues, this technology is still at its nascent stage and needs more

investment in R&D to harness its full potential. This has led to the market inclination

towards energy storage devices. These storage devices store energy to harness it in

future. This balances the demand and supply gap for future purposes.

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Energy storage devices (ESD) can be broadly segmented on the basis of geography,

technology, applications, and end use sectors. Flywheels, flow batteries, solid state

batteries, compressed air energy storage, thermal and pumped hydro power are different

types of storage technology being employed by end use sectors such as wind, thermal

and solar companies. While flywheel and battery storage technology is witnessing

massive popularity in North America, emerging economies are employing super magnets

and synthetic gas to harness the energy demands. Flywheel and battery storage with its

robust features is set to capture the APAC and ASEAN market in future.

Grid storage and transportation are two major end use segments where energy storage

devices find a promising future. These two major applications will witness a double digit

ReportDescription

Report Description

The rising demand for renewable...