June 28, 2011
Wellesley, Mass. – In a recent release, UTILITY-SCALE ELECTRICITY STORAGE TECHNOLOGIES: GLOBAL MARKETS (EGY056B) from BCC Research (www.bccresearch.com), global sales of UES technologies were $3.9 billion in 2010. That value is projected to be $18.5 billion in 2015, after increasing at a five-year compound annual growth rate (CAGR) of 36.6%.
Global UES technology sales can be broken down into three regions – Asia/Australia, Europe, and North America.
Sales in the Asia/Australia region were valued at $2.7 billion in 2010, and in 2015 should be nearly $7.2 billion, yielding a CAGR of 21.7%.
In the European region, sales were worth nearly $1 billion in 2010 and should rise to $5.3 billion in 2015, a CAGR of 41%.
In North America, sales amounted to $272 million in 2010 and should reach a value of $6.1 billion in 2015, a CAGR of 86.2%.
Utility-scale electricity storage is the process of capturing significant amounts of excess electric power, converting it into a storable medium, and later converting it back into electricity for delivery at an optimum time. Generally, electricity plants operate at base and peak loads, and it is during these peak-load operating times that UES units are used to lower overall fuel consumption, emissions, and generation costs.
Global demand for electricity is expected to continue to increase through at least the next two decades, although much of the world’s electricity generation industry is currently in the midst of turning from coal- and oil-fired to renewable energy sources. Some major near-term driving forces for expansion in the UES market include restrictions on greenhouse gas emissions, direct and indirect support for the installation of intermittent renewable sources of power, and infrastructure expansion needed to support further regional economic development.
Current and potential manufacturers and suppliers of UES technologies and components will find this report most useful, as well as venture capitalists, entrepreneurs, and entrepreneurial companies interested in expanding into the UES technology sector. The report also will be of interest to corporate planners, companies who produce combustion turbines, hydro turbines, compressors, and pumps, and also energy efficiency advocacy groups, and other public- and private-sector interest groups.
Utility-scale Electricity Storage Technologies: Global Markets( EGY056B )
Publish Date: Jan 2011
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.