GlobalData Releases Market Report on Advanced Clean Energy Storage Devices

Advanced Clean Energy Storage Devices – Global Market Size, Market Analysis by Major Storage Device, and Competitive Landscape to 2020 is the latest report from industry analysis specialists GlobalData, offering comprehensive information and understanding of the current challenges in offshore wind industry.

The report provides clear understanding of the advanced energy storage devices market. It provides deep insight into the key drivers and challenges impacting the market, and also provides data regarding historic and forecast growth, market segment analysis, investment analysis, competitive landscapes, major regulations and support programs.

 Consumer Demand is Increasing for the Energy Storage Market

The growing consumer demand for a reliable energy storage option has resulted in a series of inventions in the advanced energy storage market. In recent years, significant progress has been made in the market in advanced batteries, fuel cells, flywheels and ultracapacitors. There has been significant progress in increasing the expected battery life and in developing battery technologies that are capable of effectively powering various digital devices, power tools, battery electric vehicles and plug-in hybrid electric vehicles.

A fuel cell is a zero-emission source of power, and the only byproduct of a fuel cell is water. Some fuel cells use natural gas or hydrocarbons as fuel, but even those produce far less emissions than conventional sources. Therefore, fuel cells eliminate or at least vastly reduce the pollution and greenhouse gas emissions caused by burning fossil fuels, and since they are also quiet in operation, they also reduce noise pollution. The advantages of advanced energy storage devices are significantly increasing consumer demand and the trend is expected to continue in future.

 Advanced Battery Industry

One of the key drivers of the advanced battery industry is that it is an environmentally friendly technology with fewer pollution and battery disposal issues than other technologies. The policies and environmental standards given by different regulating authorities help in assessing the advanced battery manufacturers in terms of the environmental hazards associated with conventional batteries. The technological aspects of each advanced battery differ based on different parameters, such as the duration of storage, capacity, energy density, cost, life cycle and others. Advanced batteries are secondary electrochemical energy storage devices and are large in terms of size and energy capacity. They are both technologically advanced and environmentally friendly. The advanced batteries market is expected to increase from $6,500m in 2010 to $20,190m in 2020 at a Compound Annual Growth Rate (CAGR) of 12%.

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Offshore WIND staff, February 06, 2012