Energy storage is the capture of energy produced at one time for use at a later time. A device that stores energy is generally called an accumulator or battery. Energy comes in multiple forms including radiation, chemical, gravitational potential, electrical potential, electricity, elevated temperature, latent heat and kinetic. Energy storage involves converting energy from forms that are difficult to store to more conveniently or economically storable forms. Some technologies provide short-term energy storage, while others can endure for much longer. Bulk energy storage is currently dominated by hydroelectric dams, both conventional as well as pumped. Interest in long duration energy storage is rising as the rapid growth of variable output renewables continues and issues with grid stability and efficiency become more tangible for grid operators.
This report contains market size and forecasts of Long Duration Energy Storage System in Global, including the following market information:
Global Long Duration Energy Storage System Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Long Duration Energy Storage System market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Pumped Storage Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Long Duration Energy Storage System include GE, ABB, Highview Power, Linde, Messer, Viridor, Heatric, Samsung SDI and Hitachi, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Long Duration Energy Storage System companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Long Duration Energy Storage System Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Long Duration Energy Storage System Market Segment Percentages, by Type, 2021 (%)
Pumped Storage
LAES
CAES
Molten Salt Energy Storage
Flow Batteries Energy Storage
Li-Ion Batteries Energy Storage
Power-to-Gas Technology
Others
Global Long Duration Energy Storage System Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Long Duration Energy Storage System Market Segment Percentages, by Application, 2021 (%)
Power Plant
Utility Scale
Others
Global Long Duration Energy Storage System Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Long Duration Energy Storage System Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Long Duration Energy Storage System revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Long Duration Energy Storage System revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
GE
ABB
Highview Power
Linde
Messer
Viridor
Heatric
Samsung SDI
Hitachi
Fluence Energy
LG Chem
Panasonic
MAN
ESS, Inc
Dalian Rongke Power
BYD
Saft Batteries
Lockheed Martin Energy
LSIS
Kokam
Atlas Copco
Cryostar
Chart
Aggreko
NGK
SMA Solar Technology
Primus Power