Future Market Insights: Energy Storage Devices Market Value and Growth 2014-2020

Future Market Insights: Energy Storage Devices Market Value and Growth 2014-2020

ASEAN Energy
Storage Devices
Share, Trends, Analysis,
Research, Report,
Segmentation and Forecast,

Future Market Insights



Report Description
Rise in the energy demand and depleting fossil fuels is pushing the market towards nonconventional sources of energy. Energy demand is expected to increase by 70% between
2012 and 2035. The existing conventional sources of energy are depleting at a much
faster rate than expected and their depletion is equally proving detrimental to the
climate. Although renewable sources of energy will help in addressing all the
environmental issues, this technology is still at its nascent stage and needs more
investment in R&D to harness its full potential. This has led to the market inclination
towards energy storage devices. These storage devices store energy to harness it in
future. This balances the demand and supply gap for future purposes.

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Energy storage devices (ESD) can be broadly segmented on the basis of geography,
technology, applications, and end use sectors. Flywheels, flow batteries, solid state
batteries, compressed air energy storage, thermal and pumped hydro power are different
types of storage technology being employed by end use sectors such as wind, thermal
and solar companies. While flywheel and battery storage technology is witnessing
massive popularity in North America, emerging economies are employing super magnets
and synthetic gas to harness the energy demands. Flywheel and battery storage with its
robust features is set to capture the APAC and ASEAN market in future.
Grid storage and transportation are two major end use segments where energy storage
devices find a promising future. These two major applications will witness a double digit


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