Advanced Energy Storage: Global Market (2018-2024) to Grow at a CAGR of 5.9% – ResearchAndMarkets.com

The "Advance Energy Storage Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024" report has been added to ResearchAndMarkets.com's offering.

The report predicts the global advance energy storage market to grow with a CAGR of 5.9% over the forecast period of 2018-2024.

The rapidly growing energy demand and depletion of fossil fuels led to the growing adoption of renewable energy such as solar energy and wind power. The cumulative renewable energy investments are driving the growth of the advanced energy storage system market.

In addition, the use of advanced energy storage systems in the heat and power generation and electrical/hybrid transportation are anticipated to boost the growth of the advanced energy storage system market. Advanced energy systems contain integrated software that helps to manage the storage system; that is likely to escalate market growth.

However, the high cost associated with the overall storage system is hampering the growth of the advanced energy storage system market.

Moreover, rising awareness about renewable energy, growing adoption of advanced energy storage systems across various end-use industries and increasing investment in the modern infrastructure are the factors projected to create the several opportunities in the advanced energy storage system market in upcoming years.

Companies Profiled

• Maxwell Corporation
• AES Corporation
• Schneider Electric
• LyondellBasell Industries N.V.
• INEOS Group AG.
• EDF Renewables
• ABB Ltd.
• Nippon Chemi-Con Corporation
• Tesla Inc.
• Toshiba Corporation

For more information about this report visit https://www.researchandmarkets.com/research/7986kn/advanced_energy?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20180920005780/en/