The report, now available on ASDReports, recognizes the following companies as the key players in the Global Advanced Energy Storage Systems Market: AES Energy Storage, Alevo, EnSync Energy, GE and LG Chem
Other Prominent Vendors in the market are: Mitsubishi Heavy Industries, Enersys, Active Power, and Beacon Power.
Commenting on the report, an analyst said: “Certain off-grid renewable applications such as solar and wind energy installation, and a few types of grid-connected PV storage, utilize lead-acid batteries as low-cost conventional energy storage systems. Advanced battery technology has the ability to produce 90%-98% efficiency, with a charging time that is 4-5 times faster than conventional lead-acid batteries and at 1/3 the size and weight.”
According to the report, advanced energy storage systems enable frequency regulation of grids in grid-energy storage. This type of energy storage system helps power producers achieve economies of scale. Frequency regulation in ESS benefits gas-fired power generation as it enables better management of power systems.
Further, the report states that the market for advanced energy storage is growing rapidly and Li-ion batteries play a significant role in increasing the installation of these systems. However, technological concerns are hindering the market’s growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: Dec 14, 2015