Dallas, Texas (PRWEB) October 19, 2014
One key trend emerging in this market is the increased government support. Governments around the world are providing grants and loans for microgrids to increase energy security and also to encourage advances in the technology of energy storage systems.
Analysts forecast the Global Energy Storage for Microgrids market to grow at a CAGR of 19 percent over the period 2013-2018. According to the report, one of the major drivers in this market is an increase in microgrid installations. The growing need for energy security and reliable power supply fuels the growth of microgrid installations, especially in remote systems and for military purposes.
An electrical energy storage system is an energy reservoir that can store electrical energy and supply energy when required. Generally, energy storage systems perform three functions; energy management, power bridging, and power quality control. Technological advancements in electricity storage systems have created opportunities for storage systems to provide unique ancillary and customer energy management services to the evolving grid.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Energy Storage for Microgrids market for the period 2014-2018. In terms of technology, the Global Energy Storage for Microgrids market can be segmented into five: Advanced Lead-acid Battery, Advanced Lithium-ion Battery, Flow Battery, Sodium Metal Halide Battery, and Flywheel
The Global Energy Storage for Microgrids market 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the landscape of the Global Energy Storage for Microgrids market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
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The report recognizes the following companies as the key players in the Global Energy Storage Market for Microgrids: ABB Ltd., EnStorage, General Electric Digital Energy, NEC, S&C Electric and Toshiba Corp.
Other Prominent Vendors in the market are: Ampard, Aquion Energy, Green Energy, Greensmith Energy, Raytheon and Sunverge Energy.
Market Driver
Growing Microgrid Installations
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Market Trend
Government Support
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Further, the report states that one of the major challenges in this market is the high cost of batteries. Other major deterrents are the high cost of raw materials, cell and module packaging, and manufacturing costs.
Key Questions Answered in this Report
What will the market size be in 2018 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Table of Contents
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
04. Market Research Methodology
05. Introduction
06. Market Landscape
07. Market Segmentation by Technology
08. Geographical Segmentation
09. Key Leading Countries
10. Buying Criteria
11. Market Growth Drivers
12. Drivers and their Impact
13. Market Challenges
14. Impact of Drivers and Challenges
15. Market Trends
16. Trends and their Impact
17. Vendor Landscape
18. Key Vendor Analysis
19. Other Reports in this Series
27 – List of Exhibits
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