Research and Markets: Advanced Energy Storage Systems Report 2015-2022

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Advanced Energy Storage Systems Market Share and Size,
Growth and Trends, Analysis Research Report By Hexa
Reports

Global advanced energy storage systems market is expected to reach USD 6.93 billion by 2022.
Increasing demand for utility scale power generation particularly during peak hours is expected to
augment demand for advanced energy storage systems. Advanced energy storage systems efficiently
manage energy resources thereby reducing the need for utility scale power generation plants. The
above factor significantly helps in reducing fixed cost and is expected to play a key role in market growth
over the forecast period.
Stringent regulatory framework governing the use of fossil fuels for power generation is also expected
to act as a major driver for advanced energy storage systems market growth. Power plants generate
significant quantities of GHG such as CO2, which can be overcome through the efficient use of advanced
energy storage systems. These systems store energy when generated and are capable of providing back
up power in times of excess power demand (peak hours).
Browse Detail Report With TOC @ Advanced Energy Storage Systems Market
Further key findings from the study suggest:
Thermal energy storage systems were the largest technology segment in terms of installed capacity
accounting for over 40% of global market in 2014. High efficiency in terms of energy storage and ability
to provide power during peak hours in expected to play a major role in promoting market growth.

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