Energy Storage for Microgrids Market to Grow at 19% CAGR to 2018, Says a New Research Report at

Dallas, Texas (PRWEB) October 19, 2014

One key trend emerging in this market is the increased government support. Governments around the world are providing grants and loans for microgrids to increase energy security and also to encourage advances in the technology of energy storage systems.

Analysts forecast the Global Energy Storage for Microgrids market to grow at a CAGR of 19 percent over the period 2013-2018. According to the report, one of the major drivers in this market is an increase in microgrid installations. The growing need for energy security and reliable power supply fuels the growth of microgrid installations, especially in remote systems and for military purposes.

An electrical energy storage system is an energy reservoir that can store electrical energy and supply energy when required. Generally, energy storage systems perform three functions; energy management, power bridging, and power quality control. Technological advancements in electricity storage systems have created opportunities for storage systems to provide unique ancillary and customer energy management services to the evolving grid.

Covered in this Report

The report covers the present scenario and the growth prospects of the Global Energy Storage for Microgrids market for the period 2014-2018. In terms of technology, the Global Energy Storage for Microgrids market can be segmented into five: Advanced Lead-acid Battery, Advanced Lithium-ion Battery, Flow Battery, Sodium Metal Halide Battery, and Flywheel

The Global Energy Storage for Microgrids market 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the landscape of the Global Energy Storage for Microgrids market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

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The report recognizes the following companies as the key players in the Global Energy Storage Market for Microgrids: ABB Ltd., EnStorage, General Electric Digital Energy, NEC, S&C Electric and Toshiba Corp.

Other Prominent Vendors in the market are: Ampard, Aquion Energy, Green Energy, Greensmith Energy, Raytheon and Sunverge Energy.

Market Driver

Growing Microgrid Installations
For a full, detailed list, view our report

Market Trend

Government Support
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Further, the report states that one of the major challenges in this market is the high cost of batteries. Other major deterrents are the high cost of raw materials, cell and module packaging, and manufacturing costs.

Key Questions Answered in this Report

What will the market size be in 2018 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

Table of Contents

01. Executive Summary

02. List of Abbreviations

03. Scope of the Report

04. Market Research Methodology

05. Introduction

06. Market Landscape

07. Market Segmentation by Technology

08. Geographical Segmentation

09. Key Leading Countries

10. Buying Criteria

11. Market Growth Drivers

12. Drivers and their Impact

13. Market Challenges

14. Impact of Drivers and Challenges

15. Market Trends

16. Trends and their Impact

17. Vendor Landscape

18. Key Vendor Analysis

19. Other Reports in this Series

27 – List of Exhibits

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