Market Overview:
The global compressed air energy storage (CAES) market is expected to grow from USD 1.5 billion in 2018 to USD 3.8 billion by 2030, at a CAGR of 12.9% from 2018 to 2030. The growth of the global compressed air energy storage market can be attributed to the increasing demand for distributed energy systems and rising concerns about climate change and greenhouse gas emissions. Based on type, the traditional compressed air energy storage segment is expected to lead the global compressed air energy storage market during the forecast period.
Product Definition:
Compressed air energy storage (CAES) is a technology that stores energy in the form of compressed air. CAES systems use off-peak electricity to compress air into a large underground storage cavern, such as an abandoned salt mine. When demand for electricity peaks, the compressed air is released and powers turbines to generate electricity.
Traditional Compressed Air Energy Storage:
Traditional Compressed Air Energy Storage (TCAES) is a mature technology that has been used for many years. It is the conventional compressed air energy storage system which uses ambient air as the working fluid. The stored energy can be utilized to provide power in various industries such as oil & gas, chemical processing, and food & beverage processing among others.
The key factor responsible for market growth includes growing demand from end-use industries such as chemicals, pharmaceuticals.
Liquid Gas Compressed Air Energy Storage:
Liquid gas compressed air energy storage (LGCAS) is a new technology that stores energy in the form of compressed air and liquid gas. The stored energy can be used to provide power afterdischarge or it can be used to drive an compressors when the storedenergy is required for another application.
Application Insights:
The power station segment accounted for the largest share of more than 50% in 2017. The growing demand for renewable sources of energy, such as wind and solar, is expected to drive the growth of compressed air energy storage systems at power stations over the forecast period.
The automotive sector is anticipated to emerge as one of the prominent application areas over the forecast period owing to increasing investments in green technologies and electric vehicles. Investments in compressing air energy storage systems for use with electric vehicles are expected to increase significantly across various countries worldwide due largely to government initiatives promoting adoption of these technologies along with policies designed specifically towards supporting them such as tax credits and subsidies. Increasing research & development activities by major car manufacturers are also likely to play a significant role in driving this segment over next seven years or so.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 30% in 2016 and is anticipated to continue its dominance over the forecast period. This can be attributed to increasing investments in various countries such as China, Japan, South Korea, and India among others. In addition, growing demand for electricity on account of population growth and industrialization will drive market growth in this region.
The Latin American compressed air energy storage market was valued at USD X million in 2016 owing to large scale investments made by governments towards development of renewable sources such as wind & solar power generation along with other applications such as distributed energy system (DESS) that require compressed air for maintenance activities are expected to drive industry growth over the next eight years.
Europe accounted for a significant share due to large scale adoption across major economies including Germany and U.K.
Growth Factors:
- Increasing demand for compressed air energy storage systems from the utility sector to store intermittent renewable energy sources such as solar and wind power
- Growing number of electric vehicles on the road, which will require more charging stations that use CAES systems for storage
- Rising costs of traditional forms of electricity generation such as coal and natural gas, which will make CAES a more cost-effective option in some cases
- Advances in technology that have made CAES systems smaller and more efficient
- Regulatory incentives or mandates supporting the deployment of compressed air energy storage systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Compressed Air Energy Storage Market Research Report
By Type
Traditional Compressed Air Energy Storage, Liquid Gas Compressed Air Energy Storage, Other
By Application
Power Station, Distributed Energy System, Automotive Power, Other
By Companies
Dresser-Rand Group, General Compression, Hydrostor, LightSail Energy, SustainX, Apex CAES, Bright Energy Storage Technologies, Gaelectric, Pacific Gas and Electric Company, Dresser-Rand Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
215
Number of Tables & Figures
151
Customization Available
Yes, the report can be customized as per your need.
Global Compressed Air Energy Storage Market Report Segments:
The global Compressed Air Energy Storage market is segmented on the basis of:
Types
Traditional Compressed Air Energy Storage, Liquid Gas Compressed Air Energy Storage, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Station, Distributed Energy System, Automotive Power, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dresser-Rand Group
- General Compression
- Hydrostor
- LightSail Energy
- SustainX
- Apex CAES
- Bright Energy Storage Technologies
- Gaelectric
- Pacific Gas and Electric Company
- Dresser-Rand Group
Highlights of The Compressed Air Energy Storage Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Traditional Compressed Air Energy Storage
- Liquid Gas Compressed Air Energy Storage
- Other
- By Application:
- Power Station
- Distributed Energy System
- Automotive Power
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compressed Air Energy Storage Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Compressed air energy storage (CAES) is a technology that uses compressed air to store energy. When the compressed air is released, it can generate an electric current. CAES can be used to power homes and businesses, and it has the potential to reduce greenhouse gas emissions.
Some of the key players operating in the compressed air energy storage market are Dresser-Rand Group, General Compression, Hydrostor, LightSail Energy, SustainX, Apex CAES, Bright Energy Storage Technologies, Gaelectric, Pacific Gas and Electric Company, Dresser-Rand Group.
The compressed air energy storage market is expected to grow at a compound annual growth rate of 12.9%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Compressed Air Energy Storage Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Compressed Air Energy Storage Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Compressed Air Energy Storage Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Compressed Air Energy Storage Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Compressed Air Energy Storage Market Size & Forecast, 2020-2028
4.5.1 Compressed Air Energy Storage Market Size and Y-o-Y Growth
4.5.2 Compressed Air Energy Storage Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Traditional Compressed Air Energy Storage
5.2.2 Liquid Gas Compressed Air Energy Storage
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Power Station
6.2.2 Distributed Energy System
6.2.3 Automotive Power
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Compressed Air Energy Storage Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Compressed Air Energy Storage Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Traditional Compressed Air Energy Storage
9.6.2 Liquid Gas Compressed Air Energy Storage
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Power Station
9.10.2 Distributed Energy System
9.10.3 Automotive Power
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Traditional Compressed Air Energy Storage
10.6.2 Liquid Gas Compressed Air Energy Storage
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Power Station
10.10.2 Distributed Energy System
10.10.3 Automotive Power
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Traditional Compressed Air Energy Storage
11.6.2 Liquid Gas Compressed Air Energy Storage
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Power Station
11.10.2 Distributed Energy System
11.10.3 Automotive Power
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Traditional Compressed Air Energy Storage
12.6.2 Liquid Gas Compressed Air Energy Storage
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Power Station
12.10.2 Distributed Energy System
12.10.3 Automotive Power
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Traditional Compressed Air Energy Storage
13.6.2 Liquid Gas Compressed Air Energy Storage
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Power Station
13.10.2 Distributed Energy System
13.10.3 Automotive Power
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Compressed Air Energy Storage Market: Competitive Dashboard
14.2 Global Compressed Air Energy Storage Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dresser-Rand Group
14.3.2 General Compression
14.3.3 Hydrostor
14.3.4 LightSail Energy
14.3.5 SustainX
14.3.6 Apex CAES
14.3.7 Bright Energy Storage Technologies
14.3.8 Gaelectric
14.3.9 Pacific Gas and Electric Company
14.3.10 Dresser-Rand Group
