PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1424965
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1424965
Compressed Air Energy Storage Market Size and Share Analysis by Type, Storage, Application - Global Industry Demand Forecast to 2030
The compressed air energy storage market is projected to grow at a CAGR of 23.7% during 2024-2030, to reach USD 26,605.3 million by 2030. This will be due to the increase in the global population, accompanied by a surge in the overall power demand. Along with this, the escalating need for alternatives to coal-based energy generation is a major driver for the market.
Compressed air energy storage (CAES) permits energy to be stored once and utilized later. Moreover, adiabatic CAES is an advanced variation of this technology as it focuses on maintaining adiabatic conditions, which are characterized by no heat transfer to the environment during the compression and expansion process. This results in the minimization of energy loss and increase in efficiency. It also offers the advantage of grid stability as it can swiftly respond to the changes in electricity demand, hence helping manage peak loads.
Traditional CAES Storage To Have Larger Market Share
The traditional category is expected to have the larger share during the forecast period, based on storage. This is because the conventional technology is cost-effective and reliable. This method involves the use of large underground geological formations to store compressed air. Moreover, the approach is characterized by its high operational efficiency, due to which it is widely used around the world.
Likewise, the liquid gas category will witness a robust CAGR over this decade, as it is an innovative approach to CAES. It is different from the traditional approach as it stores energy in liquid air or liquid nitrogen at low temperatures. The stored energy is further converted to a gas when electricity is required. Essentially, it has a high energy conversion efficiency, and its environmental impact depends on the energy source utilized for compression and the type of cryogenic liquid used. Thus, when powered by clean energy sources, liquid-gas CAES has the potential to deliver even more-significant environmental advantages.
Energy Management Application Dominates Market
Energy management is the dominating category in the compressed air energy storage market, under segmentation by application. This is because CAES holds a significant potential for application in power plants as it reduces the dependence on fossil-fuel-based
energy sources. Thus, it could be utilized in large power plants for multiple functions, such as frequency control, voltage regulation, load shifting, and peak load management.
Some of the key players in the global compressed air energy storage market are Siemens AG, Hydrostor Inc., Pacific Gas and Electric Company, and Apex Compressed Air Energy Storage LLC.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by storage
- 1.4.3. Market size breakdown, by application
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Type (2017-2030)
- 6.3. Market Revenue, by Storage (2017-2030)
- 6.4. Market Revenue, by Application (2017-2030)
- 6.5. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Type (2017-2030)
- 7.3. Market Revenue, by Storage (2017-2030)
- 7.4. Market Revenue, by Application (2017-2030)
- 7.5. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Type (2017-2030)
- 8.3. Market Revenue, by Storage (2017-2030)
- 8.4. Market Revenue, by Application (2017-2030)
- 8.5. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Type (2017-2030)
- 9.3. Market Revenue, by Storage (2017-2030)
- 9.4. Market Revenue, by Application (2017-2030)
- 9.5. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Type (2017-2030)
- 10.3. Market Revenue, by Storage (2017-2030)
- 10.4. Market Revenue, by Application (2017-2030)
- 10.5. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Type (2017-2030)
- 11.3. Market Revenue, by Storage (2017-2030)
- 11.4. Market Revenue, by Application (2017-2030)
- 11.5. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Type (2017-2030)
- 12.3. Market Revenue, by Storage (2017-2030)
- 12.4. Market Revenue, by Application (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Type (2017-2030)
- 13.3. Market Revenue, by Storage (2017-2030)
- 13.4. Market Revenue, by Application (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Type (2017-2030)
- 14.3. Market Revenue, by Storage (2017-2030)
- 14.4. Market Revenue, by Application (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Type (2017-2030)
- 15.3. Market Revenue, by Storage (2017-2030)
- 15.4. Market Revenue, by Application (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Type (2017-2030)
- 16.3. Market Revenue, by Storage (2017-2030)
- 16.4. Market Revenue, by Application (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Type (2017-2030)
- 17.3. Market Revenue, by Storage (2017-2030)
- 17.4. Market Revenue, by Application (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Type (2017-2030)
- 18.3. Market Revenue, by Storage (2017-2030)
- 18.4. Market Revenue, by Application (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Type (2017-2030)
- 19.3. Market Revenue, by Storage (2017-2030)
- 19.4. Market Revenue, by Application (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Type (2017-2030)
- 20.3. Market Revenue, by Storage (2017-2030)
- 20.4. Market Revenue, by Application (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Type (2017-2030)
- 21.3. Market Revenue, by Storage (2017-2030)
- 21.4. Market Revenue, by Application (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Type (2017-2030)
- 22.3. Market Revenue, by Storage (2017-2030)
- 22.4. Market Revenue, by Application (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Type (2017-2030)
- 23.3. Market Revenue, by Storage (2017-2030)
- 23.4. Market Revenue, by Application (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Type (2017-2030)
- 24.3. Market Revenue, by Storage (2017-2030)
- 24.4. Market Revenue, by Application (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Type (2017-2030)
- 25.3. Market Revenue, by Storage (2017-2030)
- 25.4. Market Revenue, by Application (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Type (2017-2030)
- 26.3. Market Revenue, by Storage (2017-2030)
- 26.4. Market Revenue, by Application (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Type (2017-2030)
- 27.3. Market Revenue, by Storage (2017-2030)
- 27.4. Market Revenue, by Application (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Type (2017-2030)
- 28.3. Market Revenue, by Storage (2017-2030)
- 28.4. Market Revenue, by Application (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Siemens AG
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Hydrostor Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Pacific Gas and Electric Company
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Apex Compressed Air Energy Storage LLC
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
