Global Advanced Energy Storage and Fuel Cells Market, By Battery Type (Flow, Molten Salt, Metal Air, Lithium-Ion, Ultra), By Application (Automotive, Consumer Electronics, Distribution & Grid Storage), By Region (North America, Western & Eastern Europe, South America, Asia Pacific, Middle East, and Rest of the World) – Opportunity & Forecast (2020-2026)
The Global Advanced Energy Storage and Fuel Cells Market is expected to grow at a CAGR of XX% during 2020-2026.
In recent years, the Advanced Energy Storage System and Fuel Cells earned acceptance with expanding concerns about universal climate change situations, heading towards the wide adoption of sustainable and renewable energy resources as a priority energy option. The rising utilization of green energy ventures in all the developing topographical regions along with the flourishing usage of electric and hybrid electric vehicles (EV) is responsible for the tremendous growth of the advanced energy storage and fuel cells market.
Based on Battery Type, the advanced energy storage market is segmented into Flow, Molten Salt, Metal Air, Lithium-Ion, and Ultra. In the Overall segment, the lithium-ion battery segment is anticipated to dominate the largest market share. Because they are widely used in electric bikes and cars and the latest smartphones as they have better performance and long-lasting properties. Additionally, Lithium-Ion batteries offer multiple benefits including prominent charge and discharge capacity and durability.
Based on Application Type, the advanced energy storage and fuel cells market is divided into Automotive, Consumer Electronics, Distribution, and grid Storage. The automotive segment is developing as a result of the high adoption of advanced storage systems and fuel cells in electric bikes and cars. The consumer electronics segment is forecast to have a major share of the market because of the growing demand for wireless devices that use a variety of fuel cells.
Key Players in the market ABB Ltd., AES Energy Storage LLC, Altair Nanotechnologies Inc., Beacon Power LLC, Calnetix Technologies LLC, EnSync Energy Systems Inc., Exide Technologies, General Electric, Hitachi Ltd., Maxwell Technologies Inc., Samsung SDI Co. Ltd., Siemens AG, Tesla Inc., Toshiba International Corporation.
North America region is anticipated to have a noticeable share in the Advanced Energy Storage and Fuel Cells market. this will be attributed to the deep-rooted perspective for Renewable Energy Systems, favorable government policies to increase solar power production efficiency, and ascending statistics of energy storage infrastructure. The APAC region is further expected to have a prominent share in the market principally due to the prime adoption of renewable energy sources in China, India, and other developing countries.
Growth Drivers of Advanced Energy Storage and Fuel Cells Market
The rise in the adoption rate of Electric Vehicle (EV) and Plug-in Hybrid Electric Vehicle (PHEV).
The global upsurge in the deployment of Renewable Energy Infrastructure.
Technological Boost in Energy Storage Systems and Fuel Cells.
Huge Investment in the installation of such systems.
Market Segmentation
By Battery Type
• Flow
• Molten Salt
• Metal Air
• Lithium-Ion
• Ultra
• Others
By Application
• Automotive
• Consumer Electronics
• Distribution
• Grid Storage
By Region
• North America
• Western Europe
• Eastern Europe
• South America
• Asia Pacific
• Middle East
• Rest of the World