Wind Energy Storage Devices Market - Global Industry Size, 2016 - 2024
Based on mode of storage, the wind energy storage devices market can be classified as compressed air storage, flywheels, and pumped hydro storage. Regionally, the market has been segmented into Europe, North America, Asia Pacific, and Rest of the World. The future of the wind energy storage devices market seems quite promising as governments around the world accelerate their spending on harnessing energy from renewable sources such as wind, water, and solar.
Based on mode of storage, the wind energy storage devices market can be classified as compressed air storage, flywheels, and pumped hydro storage. Regionally, the market has been segmented into Europe, North America, Asia Pacific, and Rest of the World. The future of the wind energy storage devices market seems quite promising as governments around the world accelerate their spending on harnessing energy from renewable sources such as wind, water, and solar.
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<strong>Global</strong> <strong>Wind</strong> <strong>Energy</strong> <strong>Storage</strong> <strong>Devices</strong> <strong>Market</strong>: Overview<br />
As per TMR, during the course of the forecast period between 2012 and 2018, the global wind energy storage<br />
devices market is expected to rise at a CAGR of 25.4%. Over the last few years, wind energy utilization has been<br />
witnessing tremendous growth. Several factors have aided this, the primary being the existing demand-and-supply<br />
gap, which can be only mitigated using advanced storage solutions.<br />
Besides this, the dwindling of fossil fuels, which results in high fluctuation of petroleum prices, and the increasing<br />
need for pollution-free energy have been crucial drivers for the global wind energy storage devices market. These<br />
devices are designed to store the wind energy generated during peak times and use them during times of need. This<br />
storage system is based on the actual wind energy generation of a given plant because wind power is basically a<br />
variable form of energy.<br />
However, in order to function efficiently, these storage devices require certain specific geographic conditions. For<br />
instance, location is a major criterion to be taken care of for installing these devices. Hence, demand for wind energy<br />
storage devices is concentrated in locations fit for their usage.<br />
TMR forecasts the global wind energy storage devices market to grow at a positive pace as the demand for energy<br />
derived from renewable sources increases in the near future. With the investment in the wind energy market<br />
increasing, efficient energy storage solutions will play a pivotal role in ensuring uninterrupted supply of energy.<br />
Companies Mentioned in Report<br />
To present an exhaustive analysis on the prevailing competitive landscape, the report also profiles some of the<br />
leading players operating in the market. Duke Power, Beacon Power, Dresser-Rand, Extreme Power, and Ballard<br />
Power are among the prominent companies operating in the market.
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