DUBLIN, Nov. 28, 2023 /PRNewswire/ — The “Compressed Air Energy Storage – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Compressed Air Energy Storage Market to Reach $22.5 Billion by 2030
The global market for Compressed Air Energy Storage estimated at US$3.9 Billion in the year 2022, is projected to reach a revised size of US$22.5 Billion by 2030, growing at a CAGR of 24.3% over the analysis period 2022-2030.
Renewable Energy Integration, one of the segments analyzed in the report, is projected to record 24.6% CAGR and reach US$10.1 Billion by the end of the analysis period. Growth in the Grid Optimization segment is estimated at 20.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 23.8% CAGR
The Compressed Air Energy Storage market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 23.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.3% and 25.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.1% CAGR.
MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession
Year 2021 in Review and Near-term Outlook
Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 through 2023
COVID-19 Pandemic Brings Numerous Challenges to the Energy Sector
Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
Opportunities for the Power & Energy Sector in the Post-Pandemic Era
Mechanical Energy Storage Registers Rise in Demand
COVID-19 Pandemic Impacts Compressed Air Energy Storage Systems Market
Competitive Scenario
Compressed Air Energy Storage – Global Key Competitors Percentage Market Share in 2021 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)
Global Compressed Air Energy Storage Market to Enjoy Strong Windfalls Ahead
Rising Energy Demand Sets Compressed Air Energy Storage Market on Boiling Point: Outlook
World Compressed Air Energy Storage Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Renewable Energy Integration, Grid Optimization, and T&D Deferral
Drivers Keeping Global Compressed Air Energy Storage Market in Hot Seat
Renewables Going Strong, CAES to Record Strong Growth
Compressed Air Energy Storage on Cloud Nine with Flurry of Ambitious Projects
Diabatic Technology Enjoys Monopoly in Global Compressed Air Energy Storage Market
Regional Analysis: North America Emerges as Major Hub for Compressed Air Energy Storage Projects
World Compressed Air Energy Storage Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
World Compressed Air Energy Storage Market – Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: USA, Canada, China, Asia-Pacific, Rest of World, Europe, and Japan
Hydrostor Facilities to Provide Big Boost to Compressed Air Energy Storage
India: Development of Energy Storage Critical for Attaining Renewables-Related Goals
Israel: Augwind’s AirBattery Compressed Air Energy Storage Solution
China: Salt Cavern CAES, the First in the Country, Becomes Operational
Australia: A-CAES System of Hydrostor Selected for Energy Supply Backup in Rural New South Wales
Compressed Air Energy Storage (CAES): Bundling Energy for Use at Peak Hours
Total Electrical Energy Stored Over Lifetime of Storage Technology
CAES Technologies
Pushing Efficiency & Maintaining High Pressure
Recent Market Activity
MARKET TRENDS & DRIVERS
Compressed Air Energy Storage Gains Attention
CAES Helps Clean Energy Sector Gather Full Steam Ahead
Intriguing Advantages Widen the Business Case for CASE
Compressed Air Energy Storage Technology: Galvanizing Socio-Economic Gains
Compressed Air Energy Storage Emerges as Ideal Companion of Renewable Energy
Renewable Energy Sector on Growth Trajectory
A Note on Renewable Energy Programs in Select Countries
Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022
Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030
Intermittent Nature of Renewable Energy Favors CAES Adoption
Electricity Demand Patterns Encourage Market Expansion
Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040
Demographic Trends and Urbanization Drive Electricity Demand
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Growing Importance of Grid Connected Energy Storage Augurs Well
Global Energy Production by Energy Source (2017, 2020, 2030 and 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables
Grid Modernization Programs Emphasize Grid Connected Energy Storage
Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2019
Grid Reliability Assurances from CAES Promote Uptake
Compressed Air Energy Storage Walks in the Air & Offers Viable Option for Grid-Scale Storage
CAES to Help Utilities Realize Zero-Carbon Grid Targets
EnPowered Payments, A Unique On-bill Payments Platform Helping Customers Easily Secure CAES Systems
What Makes CAES a Strong Energy Storage Contender?
Smart Grids Elevate the Prospects
Global Spend on Smart Grid Technologies by Region (2014, 2017 & 2020): Percentage Breakdown of Cumulative Spending for Asia-Pacific (incl. China), Europe, Latin America, and North America
Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
Strong Smart City Investments to Fuel Large-Scale Adoption
Number of Smart Cities Worldwide by Geographic Region (2025)
Factors Impeding Implementation of CAES
Efforts to Make Compressed Air Storage an Appealing Option
FOCUS ON SELECT PLAYERS(Total 27 Featured)
Siemens Energy AG
Pacific Gas & Electric Company
Hydrexia
Hydrostor, Inc.
Korea Electric Power Corporation (KEPCO)
NRStor, Inc.
MAN Energy Solutions SE
Enel Green Power SpA
Gravitricity
For more information about this report visit https://www.researchandmarkets.com/r/4p9dam
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