Published on June 18th, 2013 | by Zachary Shahan0
Global Energy Storage Market To 2020 (Charts, Sort Of…)
CleanTechnica has a partnership with GBI Research to help get more cleantech market research reports into more people’s hands*. GBI Research recently published a new report on the Global Energy Storage Market to 2020 (in April 2013) and passed this one on to me to share with you all.
Unfortunately, the company doesn’t reveal too many details in the sample reports, which is all that even we get to view, so I don’t have exciting numbers from these reports to share with you. However, some of the sample charts definitely give a good sense of where the market and specific sectors of the market are projected to advance, according to GBI research. Regarding this global energy storage report, here are three interesting charts:
Some key takeaway points from the report, which I think you can also gather from the above charts, are that:
- The advanced batteries market – which consists of Lithium-ion (Li-ion) batteries, Nickel Metal Hydride (NiMH) batteries, and Nickel Cadmium (NiCd) batteries in the report — is projected to explode in the coming years, and that strong growth has already begun.
- The fuel cell and ultracapacitor markets are still very nascent, but they are projected to grow to a decent size by 2020.
- The flywheels market isn’t projected to do much of anything.
Regarding the fuel cells market, which we don’t cover very often here on CleanTechnica, the report states: “Fuel cells are one of the most promising energy storage technologies, and currently attract the highest amount of investor interest among power supply technologies. Driven by the need to compensate for the ill-effects and inconveniences of lead-acid batteries, stationary fuel cells are primarily used for backup power applications. Fuel cells are considered low maintenance, environmentally friendly storage solutions with long life spans for long periods of back-up power. Since the market is in its developmental stage, it is characterized by highly restricted sales volumes, with the consequence that prices fall due to a lack of adequate demand. Nevertheless, the potential of fuel cells is being actively explored by power supply players across the value chain.”
I think the future of fuel cells is much less certain than that of advanced battery technologies, but GBI Research does make some interesting and valid points.
Notably, energy storage technologies the report does not cover include: Compressed Air Energy Storage (CAES) and flow batteries.
Again, you can go ahead and purchase the report here.
Global Solar PV Market to 2020
GBI Research also has a “Solar Photovoltaics Power Market to 2020” report (published in October 2012) that it just shared with me. It’s a good match for the energy storage market report discussed above. Again, we don’t get to see any of the important numbers from the report (without purchasing it), but there are numerous interesting sample charts from the report that I’ll discuss a bit in my next article.
*The partnership works as follows: you get a 10% discount on GBI Research’s cleantech market research reports, GBI Research sells more reports, and CleanTechnica gets a small cut of these report sales.