In today’s world, there is an incessant global requirement for more
energy which at the same time has to be cleaner than the energy produced from
traditional technologies. The increase in the demand for energy has facilitated
the increasing penetration of distributed generation technologies, primarily of
renewable energy sources. Use of clean energy can substantially minimize the
risk of global warming and climate change. The power output of renewable
sources is currently not reliable and not easily adjustable to the changing
demand cycles compared to the output from traditional power sources. This
problem can only be effectively corrected by the storing of the excess power
produced by distributed generation of renewable energy sources (DG-RES).
Worldwide efforts to find reliable energy sources that replace the
intensive use of limited fossil fuels have raised concerns worldwide. The world
energy market has been changing from conventional thinking to a newer thinking
where maximization of efficiency when using energy is given preference over
manufacturing efficiency, decentralized generation is being promoted, and
development of new and renewable energy sources is given much heed. Various
environmental laws and legislations have been passed to reduce emissions as
well as to restrict the usage of fossil fuels to set standards. All these
factors are driving the growth of developing technologies for the storage of
energy from alternate and renewable sources. However, the development of such
technologies is highly cost-intensive and the end-consumers of such storage
technologies are very limited, thus the industry faces many restraints.
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There are a large number of alternative energy sources including biopower
technologies, geothermal energy technologies, hydropower technologies, ocean
energy technologies, solar energy technologies, and wind energy technologies.
With such varied sources of alternative energies, the industry of electrical
power storage from alternative sources has a huge gamut of growth potential in
several regards. Many different types of storage equipments are available in
the market such as flywheel storage technologies wherein a flywheel rotates
about an axis, which can store energy mechanically in the form of potential
energy. Battery storage technologies are rechargeable electrochemical systems
used for storing energy. Super-capacitor storage technology’s where electricity
storage is by the means static charge rather than an electrochemical process.
Hydrogen storage technologies by pressurization or absorption, pneumatic, and pumped
storage technologies etc. are some of the storage technologies which are
currently being used.
Some of the market players in this industry are POWERTHRU, VYCON,
Pentadyne Power Corp., NedStack, Bloom Energy, Arotech Corp., Evans &
Sutherland, C&D Technology Inc., and many more.
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This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides
comprehensive analysis of
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- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
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restraints. It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
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players and new entrants along with detailed value chain analysis.
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