Market Research Future published a Half Cooked Research Report on Global Mechanical Energy Storage Market. The Mechanical Energy Storage Market is expected to grow over the CAGR of around 6.5% during the period 2017 to 2023.
Mechanical energy storage has by far been the largest form of energy storage around the world so far as it is comprised of systems such as, pumped hydro storage (PHS), compressed air energy storage (CAES) and flywheels. These systems are extensively used and are beneficial on large scale at various industrial, commercial and residential uses.
Currently, the mechanical energy storage market is in the growth stage. This is due to the increase in demand for power, and cross-border power transmission, global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to restrict carbon emission, will boost the global mechanical energy storage market.
The key players of global mechanical energy storage market are Voith GmbH (Germany), Sulzer Ltd. (Switzerland), DeWalt, (U.S), Ingersoll Rand (U.S), Hitachi, Ltd. (Japan), Porter-Cable (U.S), Kirloskar Pneumatic Co Ltd. (India), Atlas Copco AB (Sweden), Active Power Inc.(U.S), Beacon Power (U.S), Powerthru (Canada) and Schwungrad Energie Limited, (Ireland).
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Market Research Analysis
Asia-Pacific region is expected to grow at the fastest rate
The mechanical energy storage market in the Asia-Pacific region is currently leading and is followed by Europe and North America market. The rapid industrial development in the countries such as India and China where there are issues with continuous reliable electricity supply, is driving the market for mechanical energy storage. Also R&D and utilization of modern flywheels in China and India with the growing trend of compressing air and storing them it in large repositories, such as underground salt caverns, and releasing it to drive a turbine during periods of demand, will drive mechanical energy storage market.
Scope of the Report:
This study provides an overview of the global mechanical energy storage market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
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The scope of the study segments the global mechanical energy storage market by its Type, by End User and by Region.
- By Type
- Pumped Hydro Storage (PHS)
- Compressed Air Energy Storage (CAES)
- By End User
- By Regions
- North America
- Asia Pacific
- Rest of the World
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