The Next Generation Energy Storage Systems Market deals with the development, manufacture and distribution of next generation energy storage technologies and devices like next generation batteries and next generation solar panels. Currently most next generation energy storage technologies are in development or testing.
Over the years, the Next Generation Energy Storage Systems Market has developed a thorough understanding of energy storage, through battery storage and other technologies, to ensure that energy which is produced at a particular point can be immediately stored and utilized at some later point in time. A device which enables such energy storage is also known as an accumulator.
Scope & Regional Forecast of the Next Generation Energy Storage Systems Market
The Next Generation Energy Storage Systems Market has been able to get various projects off the ground through constant R&D efforts during the last couple of decades. Some of this new storage technology revolves around storing energy varieties like radiation, solar, electrical, kinetic, etc.
With a rise in climate change awareness, renewable energy storage has come to the forefront with the development of next generation solar panels coupled with battery storage improvements bringing about greater efficiency. The Next Generation Energy Storage Systems Market has also been boosted by a rise in adoption of electrical or smart grids which improve efficiency of energy storage as well as usage through constant electrical monitoring and distribution.
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The Next Generation Energy Storage Systems Market expects a few factors to be the primary growth drivers in the future: growing need for renewable energy storage and capture; technical innovations in manufacture and installation of smart grid; and the rising demand for electrical vehicles which in turn spurred the need for next generation batteries.
The Next Generation Energy Storage Systems Market share was dominated by demand emanating from Europe in 2014, followed by Americas and Asia-Pacific. Aggressive policies favouring renewable energy storage has led to a significant amount of demand in the U.S. while Asia_pacific is expected to exhibit the fastest growth rate during the forecast period of 2015-2020.
Segmentations & Key Players Involved in the Next Generation Energy Storage Systems Market
According to IndustryARC findings, the Next Generation Energy Storage Systems Market can be broken down into various segmentations on the basis of -
Device: Ultracapacitors, Energy grid, Batteries, Fuel Cells, Flywheels, Pumped storage and Others.
Application: Electronics, Oil and Gas, Transportation, Military, Marine, Mining, Manufacturing, Residential and Others.
Geographical Location: Americas, Europe, Asia-Pacific and RoW (Rest of the World).
Some of the key players involved in the Next Generation Energy Storage Systems Market according to IndustryARC are as follows:
- Lockheed Martin Corporation
- UniEnergy Technologies, LLC.
- Valence Technology, Inc.
- ZBB Energy Corporation
- SB LiMotive Germany GmbH
- Leidos Engineering, LLC.
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