Compressed air energy storage, as the name suggests, is a technique for storing energy by using compressed air. Energy is generally stored for utilizing it later to meet the high demand during peak hours.
Market Analysis and Insights: Global Compressed Air Energy Storage Market
Due to the COVID-19 pandemic, the global Compressed Air Energy Storage market size is estimated to be worth US$ 4468.9 million in 2022 and is forecast to a readjusted size of US$ 13970 million by 2028 with a CAGR of 20.9% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Traditional Compressed Air Energy Storage accounting for % of the Compressed Air Energy Storage global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Power Station segment is altered to an % CAGR throughout this forecast period.
Compressed air energy storage has been the most prevalent form of energy storage after pumped-hydro technology. Compressed air energy storage is preferred because of its higher efficiency, greater reliability, and economic feasibility when compared to other energy storage technologies.
Global Compressed Air Energy Storage Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Compressed Air Energy Storage Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Traditional Compressed Air Energy Storage
Liquid Gas Compressed Air Energy Storage
Other
Segment by Application
Power Station
Distributed Energy System
Automotive Power
Other
By Company
Dresser-Rand Group
General Compression
Hydrostor
LightSail Energy
SustainX
Apex CAES
Bright Energy Storage Technologies
Gaelectric
Pacific Gas and Electric Company
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina