Global Electrical Energy Storage (EES) Market by Type (Physical, Electromegnetic, Chemical), By Application (Industrial, Commercial, Residential, Military, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global electrical energy storage (EES) market is expected to grow from USD 9.5 billion in 2018 to USD 28.8 billion by 2030, at a CAGR of 16.1% from 2018 to 2030. The growth of the EES market can be attributed to the increasing demand for grid-scale and behind-the-meter storage solutions, rising concerns over grid reliability and security, and growing investments in renewable energy sources. Based on type, the physical segment is expected to lead the global EES market during the forecast period. Physical storage systems are used for storing electrical energy in chemical or mechanical form using batteries, flywheels, pumped hydroelectricity systems (PHES), compressed air energy storage (CAES), and thermal Energy Storage Systems (TESS). PHES is one of the most commonly used physical storage technologies as it offers high roundtrip efficiency (~96%) and long life cycle (>20 years). Based on application, industrial segment is expected to lead the global EES market during the forecast period. Industrial applications include large power users such as steel mills, aluminum smelters, paper mills etc.



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Product Definition:

Electrical energy storage (EES) is the capture and storage of electrical energy for later use. The most common form of EES is batteries, though other technologies exist, such as pumped hydro and compressed air. Electrical energy storage allows utilities to store surplus electricity from renewable sources like solar and wind power, then release it when demand is high. This helps to smooth out fluctuations in supply and demand, reducing the need for expensive upgrades to the grid.

Physical:

Physical is the energy that can be handled, measured or perceived by human senses. It's different from electromagnetic radiation in terms of its properties and sources. Physical energy may come from various sources such as chemical reactions, nuclear reactions, solar power and wind power among others. The amount of physical energy available on earth is limited; it can only be harnessed to perform work through mechanical or thermal means.

Electromegnetic:

Electromagnetic is a type of energy that travels in waves. The most common types of electromagnetic are visible light, infrared light, x-rays, gamma rays and radiofrequency radiation. Electromagnetic energy can be used for many applications such as lighting and heating but it can also be used to generate electricity by using generators or motors.

Application Insights:

The market is segmented on the basis of application into industrial, commercial, residential and military. The industrial segment accounted for a major share in 2016 owing to the growing demand from power generation plants and rapid growth in renewable sources of energy such as wind and solar.

The rapid growth of industry has led to an increase in demand for storage devices that are highly efficient, reliable & safe with high performance capabilities. This factor is anticipated to fuel product demand over the forecast period. The commercial sector includes small & large scale retail stores, hotels/motels, hospitals/clinics medical centers etc., EESs are used across these sectors due to benefits such as increased system reliability & efficiency along with reduced maintenance costs over traditional systems.

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 owing to increasing demand from key end-use sectors such as industrial, commercial, and residential. China led the Asia Pacific regional market in 2016 and is projected to continue its dominance over the next eight years. This growth can be attributed to rapid urbanization coupled with growing consumer electronics production in countries such as Japan, South Korea, India, Taiwan among others are expected to drive industry expansion over this period.

Europe was estimated at USD X billion in 2016.

Growth Factors:

Increasing demand for electrical energy storage from the grid operators and utilities to store intermittent renewable energy sources such as solar and wind power.
Favorable government policies and regulations for the deployment of EES systems, especially in developed countries such as the US, Japan, and Germany.
Growing demand from end-users (commercial & industrial sector) for reliable backup power during outages or emergencies.
Rapid technological advancements in EES systems that are making them more efficient, reliable, and affordable than ever before.
Rising concerns about climate change and air pollution due to traditional forms of electricity generation such as coal-fired plants


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Scope Of The Report
Report Attributes
Report Details
Report Title
Electrical Energy Storage (EES) Market Research Report
By Type
Physical, Electromegnetic, Chemical
By Application
Industrial, Commercial, Residential, Military, Others
By Companies
LG Chem, NEC, NGK, Toshiba, Samsung SDI, BYD, Primus, Beacon
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
212
Number of Tables & Figures
149
Customization Available
Yes, the report can be customized as per your need.

Global Electrical Energy Storage (EES) Market Report Segments:
The global Electrical Energy Storage (EES) market is segmented on the basis of:
Types
Physical, Electromegnetic, Chemical
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
Industrial, Commercial, Residential, Military, Others
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:
LG Chem
NEC
NGK
Toshiba
Samsung SDI
BYD
Primus
Beacon



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Highlights of The Electrical Energy Storage (EES) 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:
Physical
Electromegnetic
Chemical
By Application:
Industrial
Commercial
Residential
Military
Others
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 Electrical Energy Storage (EES) 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:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



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

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