Compressed Air Energy Storage

World Market Report

MCP11233

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DATE

JUL 2022

TABLES

52

PAGES

191

EDITION

10

PRICE

USD 4950

CODE

MCP11233


COMPETITIVE METRICS

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HIGHLIGHTS & REPORT INDEX

What's New for 2022?

» Global competitiveness and key competitor percentage market shares
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Amid the COVID-19 crisis, the global market for Compressed Air Energy Storage estimated at US$2.9 Billion in the year 2020, is projected to reach a revised size of US$11.9 Billion by 2027, growing at a CAGR of 22.5% over the analysis period 2020-2027.Renewable Energy Integration, one of the segments analyzed in the report, is projected to grow at a 22.9% CAGR to reach US$5.3 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Grid Optimization segment is readjusted to a revised 18.9% CAGR for the next 7-year period. This segment currently accounts for a 29.4% share of the global Compressed Air Energy Storage market.
The Compressed Air Energy Storage market in the U.S. is estimated at US$1.1 Billion in the year 2020. The country currently accounts for a 37.96% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$918.6 Million in the year 2027 trailing a CAGR of 22.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.2% and 24.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 22.5% CAGR while Rest of European market (as defined in the study) will reach US$918.6 Million by the year 2027.
In the global T&D Deferral segment, USA, Canada, Japan, China and Europe will drive the 25.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$652.2 Million in the year 2020 will reach a projected size of US$3.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$747.1 Million by the year 2027.

SELECT PLAYERS

Airlight Energy Manufacturing SA; Apex Compressed Air Energy Storage, LLC; Bright Energy Storage Technologies LLP; Hydrostor Inc.; Magnum Development LLC; Pacific Gas and Electric Company; Ridge Energy Storage & Grid Services L.P.; Siemens AG; Storelectric Ltd.

SEGMENTS

» End-Use (Renewable Energy Integration, Grid Optimization, T&D Deferral)

GEOGRAPHIES

» World » USA » Canada » Japan » China » Europe » France » Germany » Italy » UK » Rest of Europe » Asia-Pacific » Rest of World

TABLE OF CONTENTS

1. MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession
Year 2021 in Review and Near-term Outlook
Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
EXHIBIT: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 through 2023
COVID-19 Pandemic Brings Numerous Challenges to the Energy Sector
EXHIBIT: Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
Opportunities for the Power & Energy Sector in the Post-Pandemic Era
Mechanical Energy Storage Registers Rise in Demand
COVID-19 Pandemic Impacts Compressed Air Energy Storage Systems Market
Competitive Scenario
Compressed Air Energy Storage – Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for 27 Players Worldwide in 2022 (E)
Global Compressed Air Energy Storage Market to Enjoy Strong Windfalls Ahead
Rising Energy Demand Sets Compressed Air Energy Storage Market on Boiling Point: Outlook
EXHIBIT: World Compressed Air Energy Storage Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Renewable Energy Integration, Grid Optimization, and T&D Deferral
Drivers Keeping Global Compressed Air Energy Storage Market in Hot Seat
Renewables Going Strong, CAES to Record Strong Growth
Compressed Air Energy Storage on Cloud Nine with Flurry of Ambitious Projects
Diabatic Technology Enjoys Monopoly in Global Compressed Air Energy Storage Market
Regional Analysis: North America Emerges as Major Hub for Compressed Air Energy Storage Projects
EXHIBIT: World Compressed Air Energy Storage Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
EXHIBIT: World Compressed Air Energy Storage Market - Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: USA, Canada, China, Asia-Pacific, Rest of World, Europe, and Japan
Hydrostor Facilities to Provide Big Boost to Compressed Air Energy Storage
India: Development of Energy Storage Critical for Attaining Renewables-Related Goals
Israel: Augwind’s AirBattery Compressed Air Energy Storage Solution
China: Salt Cavern CAES, the First in the Country, Becomes Operational
Australia: A-CAES System of Hydrostor Selected for Energy Supply Backup in Rural New South Wales
Compressed Air Energy Storage (CAES): Bundling Energy for Use at Peak Hours
EXHIBIT: Total Electrical Energy Stored Over Lifetime of Storage Technology
CAES Technologies
Pushing Efficiency & Maintaining High Pressure
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Compressed Air Energy Storage Gains Attention
CAES Helps Clean Energy Sector Gather Full Steam Ahead
Intriguing Advantages Widen the Business Case for CASE
Compressed Air Energy Storage Technology: Galvanizing Socio-Economic Gains
Compressed Air Energy Storage Emerges as Ideal Companion of Renewable Energy
Renewable Energy Sector on Growth Trajectory
A Note on Renewable Energy Programs in Select Countries
EXHIBIT: Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
EXHIBIT: Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022
EXHIBIT: Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030
Intermittent Nature of Renewable Energy Favors CAES Adoption
Electricity Demand Patterns Encourage Market Expansion
EXHIBIT: Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040
Demographic Trends and Urbanization Drive Electricity Demand
EXHIBIT: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
EXHIBIT: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Growing Importance of Grid Connected Energy Storage Augurs Well
EXHIBIT: Global Energy Production by Energy Source (2017, 2020, 2030 and 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables
Grid Modernization Programs Emphasize Grid Connected Energy Storage
EXHIBIT: Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2019
Grid Reliability Assurances from CAES Promote Uptake
Compressed Air Energy Storage Walks in the Air & Offers Viable Option for Grid-Scale Storage
CAES to Help Utilities Realize Zero-Carbon Grid Targets
EnPowered Payments, A Unique On-bill Payments Platform Helping Customers Easily Secure CAES Systems
What Makes CAES a Strong Energy Storage Contender?
Smart Grids Elevate the Prospects
EXHIBIT: Global Spend on Smart Grid Technologies by Region (2014, 2017 & 2020): Percentage Breakdown of Cumulative Spending for Asia-Pacific (incl. China), Europe, Latin America, and North America
EXHIBIT: Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
Strong Smart City Investments to Fuel Large-Scale Adoption
EXHIBIT: Number of Smart Cities Worldwide by Geographic Region (2025)
Factors Impeding Implementation of CAES
Efforts to Make Compressed Air Storage an Appealing Option
4. GLOBAL MARKET PERSPECTIVE
World Compressed Air Energy Storage Market Analysis of Annual Sales in US$ Million for Years 2017 through 2027
World Recent Past, Current & Future Analysis for Compressed Air Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World Historic Review for Compressed Air Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
World 10-Year Perspective for Compressed Air Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2017, 2021 & 2027
World Recent Past, Current & Future Analysis for Renewable Energy Integration by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World Historic Review for Renewable Energy Integration by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
World 10-Year Perspective for Renewable Energy Integration by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2021 & 2027
World Recent Past, Current & Future Analysis for Grid Optimization by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World Historic Review for Grid Optimization by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
World 10-Year Perspective for Grid Optimization by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2021 & 2027
World Recent Past, Current & Future Analysis for T&D Deferral by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World Historic Review for T&D Deferral by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
World 10-Year Perspective for T&D Deferral by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2021 & 2027
UNITED STATES
Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
Small-Scale Renewable Energy Projects: A Threat to Grid-Scale Energy Storage?
USA Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
USA Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
USA 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
CANADA
Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Canada for 2022 (E)
Canada Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Canada Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Canada 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
JAPAN
Japan Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Japan Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Japan 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
CHINA
China to Experience Notable Adoption of Energy Storage Systems in Long Term
China Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
China Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
China 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
EUROPE
Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
Advanced Energy Storage Gains Momentum in Western Europe
Europe Recent Past, Current & Future Analysis for Compressed Air Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Europe Historic Review for Compressed Air Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Europe 10-Year Perspective for Compressed Air Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2017, 2021 & 2027
Europe Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Europe Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Europe 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
FRANCE
France Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
France Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
France 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
GERMANY
Germany Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Germany Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Germany 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
ITALY
Italy Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Italy Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Italy 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
UNITED KINGDOM
UK Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
UK Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
UK 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
REST OF EUROPE
Rest of Europe Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Rest of Europe Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Rest of Europe 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
ASIA-PACIFIC
Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
Asia: A Potential Laden Market
Asia-Pacific Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Asia-Pacific Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Asia-Pacific 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
REST OF WORLD
Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Rest of World for 2022 (E)
Rest of World Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Rest of World Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
Rest of World 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
Total Companies Profiled: 27

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