Advanced Energy Storage Systems Market Is Expected To Grow At A CAGR Of 18% From 2015 To 2022: Grand View Research, Inc.

Global Advanced Energy Storage Systems Market is expected to reach USD 6.93 billion by 2022, according to a new study by Grand View Research, Inc. 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).

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/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.

·         Battery storage devices market is still in a nascent stage and is expected to witness fastest growth at a CAGR of over 18% from 2015 to 2022. The market has large potential owing to easy charging properties and re-energization of the electrolyte liquid resulting in negligible wastage.

·         North America dominated the advanced energy storage systems market accounting for over 45% of global installed capacity in 2014. Stringent regulations with regards to environmental emissions are expected to result in increased installations of advanced energy storage systems, particularly in the U.S.

·         Asia Pacific is expected to be the fastest growing market for advanced energy storage systems at a CAGR of over 18% in terms of revenue from 2015 to 2022. Growing industrialization and improving consumer lifestyle has resulted in a surging need for energy which in turn is expected to augment advanced energy storage systems market in the region.

·         Advanced energy storage systems market is highly fragmented owing to the presence of numerous companies across multiple technologies. Owing to the technology driven nature of the market, key companies including AES Energy Storage, LG Chem, GE and Alevo are heavily investing into R&D to develop breakthrough technologies.

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For the purpose of this study, Grand View Research has segmented the global advanced energy storage systems market on the basis of technology and region:
Global Advanced Energy Storage Systems Technology Outlook (Capacity, Megawatt; Revenue, USD Million, 2012 - 2022)

·         Batteries

·         Flywheel

·         Thermal

·         Compressed Air

·         Molten Salt

Global Advanced Energy Storage Systems Regional Outlook (Capacity, Megawatt; Revenue, USD Million, 2012 - 2022)

·         North America

·         U.S.

·         Europe

·         Germany

·         UK

·         Latin America

·         Brazil

·         Asia Pacific

·         China

·         India

·         Japan

·         MEA

·         Saudi Arabia

Wind Power Market Is Expected To Reach 760.35 GW By 2020, Growing At A CAGR Of 13.0% From 2014 To 2020: Grand View Research, Inc.

Global wind power market is expected to reach 760.35 GW by 2020 on account of increasing regulatory support from governments particularly in Europe in order to reduce carbon emissions. Furthermore, financial incentives and tax benefits in countries such as U.K., Italy, Brazil, Spain, U.S. and China have fuelled growth leading to a significant market share in overall electricity generation.
Industrial applications accounted for more than 40% of the total market in 2014 and hence dominated the global market. In addition, industrial application is expected to witness fastest growth, growing at over 13% CAGR from 2015 to 2022.
Rising energy needs in countries such as China, Brazil and India, owing to rapid industrialization is expected to have a positive impact on wind power generation industry. Wind power finds extensive use in various sectors including commercial heating/lighting applications and residential.
Europe had a cumulative installed capacity of 130.85 GW in 2014 and was the leading market for wind power. Europe’s framework legislation and its target to reduce carbon footprint by 2020 is expected to ensure continuous growth of the industry over the forecast period. Furthermore, large investment opportunities in countries including Ukraine and Russia are expected to have a positive impact on market growth. Growing demand from countries including Spain, France, U.K., Italy, and Germany is expected to drive market growth over the forecast period. However, market saturation is a major restraint for the region and is expected to hamper growth over the next six years.
Asia Pacific is expected to witness fastest growth going forward till 2022. Rising government initiatives undertaken by government of India and China to develop wind power generation as means to increase their renewable energy portfolio is likely to propel demand. Asia Pacific accounted for more than 34% of total installed capacity in 2012. Middle East and Africa is projected to be the fastest growing regional market at a CAGR more than 43%.
North America was the third largest wind power market in 2012. Regional market is expected to grow on account of extension of Production Tax Credit as a part of fiscal cliff package by the U.S. Congress. U.S added a large capacity for wind power generation in 201 and emerged as the largest source of new electricity generation by accounting for over 40% of capacity added.
Global wind power market is highly fragmented. Some of the major players operating in the global wind power industry include Gamesa, Sinovel, GE Wind, Vestas, Mingyang, Enercon, Goldwind, Suzlon Group, United Power and Siemen

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Further Key findings from the study suggest:

·         Europe emerged as the leading market for wind power with a cumulative installed capacity of 109.80 GW of the total market in 2012. Europe’s framework legislation and its target to reduce carbon footprints by 2020 are expected to ensure continuous growth of wind power market in the region

·         Germany, UK, Italy, Spain and France represent some of the leading markets in Europe. However, huge investment opportunities exist in the Eastern European countries such as Russia, Ukraine etc.

·         Owing to rapid strides taken by India and China to develop wind power generation, Asia Pacific is expected to overtake Europe to lead the global market by 2020. Asia Pacific accounted for 35.6% of the total installed capacity in 2012. Wind power accounted for a 2% of the total electricity produced in China up from 1.5% in 2011.

·         North America emerged as the third largest wind power market in 2012. Extension of Production Tax Credit as a part of fiscal cliff package by the U.S. Congress is expected to be a key factor driving the regional market for wind power. The U.S. saw a record number of capacity addition in 2012 as wind power emerged as the largest source of new electricity generation by accounting more than 40% of new capacity added.

·         Some of the key companies operating in the global wind power market include GE Wind, Vestas, Siemens Wind Power, Enercon, Suzlon Group, Gamesa, Goldwind, United Power, Sinovel and Mingyang.

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Grand View Research has segmented the global wind power market on the basis of application and region:
Wind Power Application Outlook
        • Industrial
        • Residential
        • Commercial
Wind Power Regional Outlook
        • North America
                • U.S.
        • Europe
                • UK
                • Spain
                • Germany
                • France
                • Italy
        • Asia Pacific
                • India
                • China
                • Japan
        • RoW
                • Brazil

Compressed Natural Gas (CNG) Market Set for Explosive Growth, To Reach Around USD 129.77 Billion by 2020: Grand View Research, Inc.

Global Compressed Natural Gas (CNG) Market is anticipated to reach USD 129.77 billion by 2020, according to a new study by Grand View Research, Inc. Growth of global natural gas vehicles (NGVs) industry coupled with increased automobile fuel efficiency attributed by CNG is anticipated to remain a key driving factor for the global market. Government subsidiaries in form of financial incentives particularly in Asia Pacific and Latin America is also expected to have a positive impact on the market growth. Positive outlook on exploration of unconventional resources including shale gas particularly in U.S. and China is expected to provide growth opportunities for market participants. High initial investment for CNG automobile storage tanks is expected to remain a key challenge for market participants over the forecast period. Increasing R&D expenditure by automobile manufactures on developing dual fuel engines is expected to remain a critical success factor over the next six years.
Non-associated gas emerged as leading source for CNG and accounted for 89.9% of total market volume in 2013. Increasing drilling activities particularly in Middle East is expected to ensure continuous supply of non-associated gases for CNG over the forecast period. Unconventional methods are expected to be the most lucrative source segment growing at an estimated CAGR of 28% from 2014 to 2020.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/compressed-natural-gas-cng-market

Further key findings from the study suggest:

• Global CNG demand was 61,668 MCM in 2013 and is expected to reach 108,957.9 MCM by 2020, growing at a CAGR of 8.5% from 2014 to 2020.
• Light duty vehicles (LDV) were the largest CNG consuming segment and accounted for 48.3% of total market volume in 2013. Growth of passenger cars particularly in emerging markets of BRICS is expected to drive this segment. LDV is also expected to witness highest growth rate over the forecast period. The segment is expected to grow at an estimated CAGR of 9.1% from 2014 to 2020.
• Asia Pacific was the leading regional CNG market and is expected to continue its dominance over the next six years in the global market. The region accounted for 46.6% of total market volume in 2013. Positive outlook on automotive industry coupled with government support to promote the use of alternative transportation fuel particularly in China and India is expected to drive the regional CNG market. Central & South America is expected to be the fastest growing regional market for CNG at an estimated CAGR of 17% from 2014 to 2020.
• Highly fragmented CNG industry participants compete on the basis of price differentiation across various regions. Major industry participants operating in the global CNG market include National Iranian Gas Comp, Indraprastha Gas Ltd (IGL), China Natural Gas Inc and Mahanagar gas Ltd (MNGL).

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For the purpose of this study, Grand View Research has segmented the CNG market on the basis of source, application and region:
Global Compressed Natural Gas (CNG) Source Outlook (Volume, MCM; Revenue, USD Billion, 2012 – 2020)
    • Non-Associated Gas
    • Associated Gas
    • Unconventional Methods
Global Compressed Natural Gas (CNG) Application Outlook (Volume, MCM; Revenue, USD Billion, 2012 – 2020)
    • Light Duty Vehicles
    • Medium/Heavy Duty Buses
    • Medium/Heavy Duty Trucks
    • Others
Global Compressed Natural Gas (CNG) Regional Outlook (Volume, MCM; Revenue, USD Billion, 2012 – 2020)
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • Central & South America

Lead Acid Battery Market Is Anticipated To Witness Growth At A CAGR Of 6.4% From 2015 To 2022: Grand View Research, Inc.

The global lead acid battery market is expected to reach USD 76.44 billion by 2022, according to a new report by Grand View Research, Inc. Growth of the automotive industry in Indonesia, Mexico, India, Vietnam and Thailand is expected to propel industry. Growing preference for pollution free hybrid & electric vehicles along with technological development is expected to drive lead acid battery demand over the forecast period.
VRLA battery is anticipated to witness growth at a CAGR of 6.4% from 2015 to 2022 on account of its increasing application in UPS systems, engines, security systems, backup power, emergency lighting systems, cell phone towers and radio communication systems. In addition, its low maintenance cost along with easy installation will fuel growth over the forecast period.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/lead-acid-battery-market

Further key findings from the report suggest:

·         SLI was the largest product segment and accounted for 60.3% of market share in 2014. The segment is likely to witness lucrative growth over the next seven years in light of its high rate cranking current delivery in automotive applications. Moreover, growing demand for passenger cars as a result of high living standard and improving infrastructure facilities will promote growth over the forecast period.

·         Transport vehicles were valued at USD 4.43 billion in 2014 and are expected to witness immense growth in light of increasing requirement of forklifts, mainly in China and India, due to their increasing prevalence as trading and transit hubs for logistic transport. High investment by players including Toyota and Konecranes will augment demand.

·         Europe was the second largest market and accounted over 24.8% of the global share in 2014. Increasing investment in eco-innovations including electric bikes, cranes and forklift will aid industry expansion. Growing demand for e-bikes along with solar power systems in UK, Germany, and Netherlands will stimulate industry growth.

·         Asia Pacific will witness significant gains on account of growing demand for UPS solutions owing to the rapid development of data centers and the IT sector.China is expected to witness high gains in light of energy storage technologies and favourable government support to promote investments in manufacturing sectors.

·         Global lead acid battery industry was mainly dominated by Johnson Controls, Exide Technologies, GS YUASA, EnerSys, East Penn Manufacturing Co., and ATLASBX Co., Ltd. In March 2016, GS Yuasa Corp launched "SLR-1000" lead acid battery for solar power generation, which can handle 5,000 charge-discharge cycles, with rated capacity of 1,000 Ah.

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Grand View Research has segmented the global lead acid battery market by product, construction method, application and region:
Product Outlook (Revenue, USD Million, 2012 - 2022)

·         SLI

·         Stationary

·         Motive

Construction Method Outlook (Revenue, USD Million, 2012 - 2022)

·         Flooded

·         VRLA

Application Outlook (Revenue, USD Million, 2012 - 2022)

·         Automotive

·         UPS

·         Telecommunication

·         Electric bikes

·         Transport Vehicles

·         Others

Regional Outlook (Revenue, USD Million, 2012 - 2022)

·         North America

·         U.S.

·         Europe

·         Germany

·         Asia Pacific

·         China

·         India

·         Latin AmericaMEA

·         Brazil