Market Overview:
The global gravity energy storage systems market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for renewable energy sources and the need for grid stabilization. Gravity energy storage systems are used to store gravitational potential energy in a rotating mass, which can then be converted into electrical or mechanical power as needed. These systems are typically used for applications such as utilities, transportation, and others. Some of the key players in this market include ABB Ltd., Siemens AG, S&C Electric Company LLC.
Product Definition:
Gravity energy storage systems are devices that use the force of gravity to store energy. These systems can be used to store energy in a variety of ways, including using weights or magnets. The importance of gravity energy storage systems is that they can provide a way to store large amounts of energy without using any moving parts.
35 MWh:
35 MWh is the capacity of energy required to power 1,000 homes for one hour. It's also equal to 35 million British thermal unit (BTU). One BTU is the amount of heat needed to boil a litre of water or enough to warm two hands when held at 15°C.
The global market size was valued at USD 3.6 billion in 2016.
Others:
Others include services, support and maintenance, and other operating costs. The Others segment includes all the indirect costs associated with running a business including marketing & sales, general & administrative expenses etc. It also includes capitalized interests on debt owing by the company as well as deferred tax assets that are not recognized in the financial statements until some future period.
Application Insights:
The utilities application segment accounted for the largest revenue share of over 70% in 2017. The segment is projected to witness significant growth over the forecast period owing to growing demand-supply gap in major economies such as China, Germany, Japan and the U.S., which results in increasing electricity imports from other countries such as Canada and Mexico.
The others application segment includes commercial and industrial applications. Increasing energy costs have driven industrial users to adopt energy storage systems that can smooth out supply shocks caused by rapid fluctuations in wind power or solar rays variation. Besides this, there has been a rise in demand for GRTS due to its ability to provide clean continuous power without relying on weather conditions; these factors are expected drive industry expansion over the coming years (see chart).
Regional Analysis:
North America accounted for the largest revenue share of over 40% in 2017. The region is expected to continue its dominance over the forecast period as well, owing to increasing demand for electricity storage from various industrial and commercial sectors. In addition, growing renewable energy production will drive the market further.
Asia Pacific is projected to be one of the fastest-growing regional markets during the forecast period due to rapid economic development coupled with increased government spending on infrastructure development in countries such as China and India. Furthermore, supportive policies aimed at promoting investments through subsidies are anticipated to boost industry growth across this region.
Growth Factors:
- Increasing demand for energy storage systems from the utility sector to store renewable energy
- Favorable government policies and regulations for the deployment of energy storage systems
- Growing demand for grid-scale energy storage systems to reduce electricity costs and improve grid reliability
- Increasing investment in renewable energy projects, which is expected to drive the growth of the gravity Energy Storage Systems market
- Technological advancements in gravity Energy Storage Systems that are helping to increase their efficiency and reduce costs
Scope Of The Report
Report Attributes
Report Details
Report Title
Gravity Energy Storage Systems Market Research Report
By Type
35 MWh, Others
By Application
Utilities, Others
By Companies
Energy Vault, Heindl Energy, Advanced Rail Energy Storage, Gravitricity
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
138
Number of Tables & Figures
97
Customization Available
Yes, the report can be customized as per your need.
Global Gravity Energy Storage Systems Market Report Segments:
The global Gravity Energy Storage Systems market is segmented on the basis of:
Types
35 MWh, Others
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
Utilities, 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:
- Energy Vault
- Heindl Energy
- Advanced Rail Energy Storage
- Gravitricity
Highlights of The Gravity Energy Storage Systems 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:
- 35 MWh
- Others
- By Application:
- Utilities
- 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 Gravity Energy Storage Systems 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
Frequently Asked Questions?
Gravity energy storage systems are a type of renewable energy storage system that uses the gravitational force of an object to store energy. The stored energy can be used to power devices, such as electric cars or wind turbines, when needed.
Some of the key players operating in the gravity energy storage systems market are Energy Vault, Heindl Energy, Advanced Rail Energy Storage, Gravitricity.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Gravity Energy Storage Systems 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 Gravity Energy Storage Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Gravity Energy Storage Systems 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 Gravity Energy Storage Systems 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 Gravity Energy Storage Systems Market Size & Forecast, 2020-2028
4.5.1 Gravity Energy Storage Systems Market Size and Y-o-Y Growth
4.5.2 Gravity Energy Storage Systems 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 35 MWh
5.2.2 Others
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 Utilities
6.2.2 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Gravity Energy Storage Systems 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 Gravity Energy Storage Systems 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 35 MWh
9.6.2 Others
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 Utilities
9.10.2 Others
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 35 MWh
10.6.2 Others
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 Utilities
10.10.2 Others
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 35 MWh
11.6.2 Others
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 Utilities
11.10.2 Others
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 35 MWh
12.6.2 Others
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 Utilities
12.10.2 Others
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 35 MWh
13.6.2 Others
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 Utilities
13.10.2 Others
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 Gravity Energy Storage Systems Market: Competitive Dashboard
14.2 Global Gravity Energy Storage Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Energy Vault
14.3.2 Heindl Energy
14.3.3 Advanced Rail Energy Storage
14.3.4 Gravitricity
