Product Code: A31889
The global compressed air energy storage market is anticipated to reach $31,827.7 million by 2031, growing from $3,995.4 million in 2021, at a CAGR of 23.6% from 2022 to 2031.
The enormous potential of CAES systems for effective energy storage for power generation is responsible for the post-pandemic rapid rise of the worldwide compressed air energy storage sector. The CAES systems can be utilized for both small- and large-scale energy storage. As a result, load shifting, peak shaving, and frequency & voltage management have potential uses in the compressed air energy storage sector. Since CAES is a sustainable energy storage system that can fulfil the rising energy demands, the compressed air energy storage market is anticipated to expand quickly. In CAES, low-cost power can be produced during peak hours if it is used to store compressed air in an underground cavern. These factors are anticipated to propel the market growth.
Compressed air energy storage devices have high setup and investment costs, which limit market expansion. Additionally, installing CAES facilities requires a drawn-out regulatory process, which is expected to slow market expansion.
As infrastructure (roads) activities increase in both established and emerging nations, the compressed air energy storage market is anticipated to grow (especially medium and heavy commercial vehicles for the movement of goods).
The compressed air energy storage market is segmented into type, storage, application, end-use industry, and region. On the basis of method, the market is classified into diabatic, adiabatic and isothermal. Based on storage, the CAES market is bifurcated into traditional CAES storage and liquid gas CAES storage. On the basis of application, the market is categorized into energy management, backup and seasonal reserves and renewable integration. By end-use industry the market is divided into power station, distributed energy system and automotive power. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, Italy, France, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, and rest of LAMEA).
Asia-Pacific is anticipated grow at the fastest CAGR during the projected timeframe. Energy demand and the need for dependable energy storage solutions are rising quickly in nations like China, Japan, India, and others. The government has taken a number of actions to promote environmentally friendly power generation.
The COVID-19 pandemic had left businesses in the compressed air energy storage sector with serious financial worries. Due to import-export limitations, among other things, these businesses have encountered a scarcity of workers due to concerns about the COVID-19 virus. Due to these considerations, the compressed air energy storage market size has suffered during the pandemic. The availability of necessary funds for installing compressed air energy storage systems has been impacted by the government's budget shift toward healthcare institutions. Additionally, these elements have prolonged the CAES approval procedure. The demand for compressed air energy storage was significantly impacted by the aforementioned considerations.
The key players profiled in this report include: Siemens Energy AG, General Compression Ltd (GCL), Hydrostor Inc., Bright Energy Storage Technologies, Pacific Gas and Electric Company, Apex Compressed Air Energy Storage, LLC, Ridge Energy Storage and Grid Services LP, ALACAES, Storelectric Limited, and LightSail Energy.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the compressed air energy storage market analysis from 2021 to 2031 to identify the prevailing compressed air energy storage market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the compressed air energy storage market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global compressed air energy storage market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Method
- Diabatic
- Adiabatic
- Isothermal
By Storage
- Traditional CAES Storage
- Liquid Gas CAES Storage
By Application
- Energy Management
- Backup and Seasonal Reserves
- Renewable Integration
By End-use Industry
- Power Station
- Distributed Energy System
- Automotive Power
By Region
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- UAE
- Israel
- Rest of LAMEA
Key Market Players
- Siemens Energy AG
- General Compression Ltd (GCL)
- Hydrostor Inc.
- Bright Energy Storage Technologies
- Pacific Gas and Electric Company
- Apex Compressed Air Energy Storage, LLC
- Ridge Energy Storage and Grid Services LP
- ALACAES
- Storelectric Limited
- LightSail Energy
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. COVID-19 Impact Analysis on the market
- 3.6. Key Regulation Analysis
- 3.7. Market Share Analysis
- 3.8. Patent Landscape
- 3.9. Regulatory Guidelines
- 3.10. Value Chain Analysis
CHAPTER 4: COMPRESSED AIR ENERGY STORAGE MARKET, BY METHOD
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Diabatic
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Adiabatic
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Isothermal
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: COMPRESSED AIR ENERGY STORAGE MARKET, BY STORAGE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Traditional CAES Storage
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Liquid Gas CAES Storage
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: COMPRESSED AIR ENERGY STORAGE MARKET, BY APPLICATION
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Energy Management
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Backup and Seasonal Reserves
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Renewable Integration
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: COMPRESSED AIR ENERGY STORAGE MARKET, BY END-USE INDUSTRY
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Power Station
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.3. Distributed Energy System
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
- 7.4. Automotive Power
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by region
- 7.4.3. Market share analysis by country
CHAPTER 8: COMPRESSED AIR ENERGY STORAGE MARKET, BY REGION
- 8.1. Overview
- 8.1.1. Market size and forecast By Region
- 8.2. North America
- 8.2.1. Key trends and opportunities
- 8.2.2. Market size and forecast, by Method
- 8.2.3. Market size and forecast, by Storage
- 8.2.4. Market size and forecast, by Application
- 8.2.5. Market size and forecast, by End-use Industry
- 8.2.6. Market size and forecast, by country
- 8.2.6.1. U.S.
- 8.2.6.1.1. Key market trends, growth factors and opportunities
- 8.2.6.1.2. Market size and forecast, by Method
- 8.2.6.1.3. Market size and forecast, by Storage
- 8.2.6.1.4. Market size and forecast, by Application
- 8.2.6.1.5. Market size and forecast, by End-use Industry
- 8.2.6.2. Canada
- 8.2.6.2.1. Key market trends, growth factors and opportunities
- 8.2.6.2.2. Market size and forecast, by Method
- 8.2.6.2.3. Market size and forecast, by Storage
- 8.2.6.2.4. Market size and forecast, by Application
- 8.2.6.2.5. Market size and forecast, by End-use Industry
- 8.2.6.3. Mexico
- 8.2.6.3.1. Key market trends, growth factors and opportunities
- 8.2.6.3.2. Market size and forecast, by Method
- 8.2.6.3.3. Market size and forecast, by Storage
- 8.2.6.3.4. Market size and forecast, by Application
- 8.2.6.3.5. Market size and forecast, by End-use Industry
- 8.3. Europe
- 8.3.1. Key trends and opportunities
- 8.3.2. Market size and forecast, by Method
- 8.3.3. Market size and forecast, by Storage
- 8.3.4. Market size and forecast, by Application
- 8.3.5. Market size and forecast, by End-use Industry
- 8.3.6. Market size and forecast, by country
- 8.3.6.1. Germany
- 8.3.6.1.1. Key market trends, growth factors and opportunities
- 8.3.6.1.2. Market size and forecast, by Method
- 8.3.6.1.3. Market size and forecast, by Storage
- 8.3.6.1.4. Market size and forecast, by Application
- 8.3.6.1.5. Market size and forecast, by End-use Industry
- 8.3.6.2. UK
- 8.3.6.2.1. Key market trends, growth factors and opportunities
- 8.3.6.2.2. Market size and forecast, by Method
- 8.3.6.2.3. Market size and forecast, by Storage
- 8.3.6.2.4. Market size and forecast, by Application
- 8.3.6.2.5. Market size and forecast, by End-use Industry
- 8.3.6.3. France
- 8.3.6.3.1. Key market trends, growth factors and opportunities
- 8.3.6.3.2. Market size and forecast, by Method
- 8.3.6.3.3. Market size and forecast, by Storage
- 8.3.6.3.4. Market size and forecast, by Application
- 8.3.6.3.5. Market size and forecast, by End-use Industry
- 8.3.6.4. Spain
- 8.3.6.4.1. Key market trends, growth factors and opportunities
- 8.3.6.4.2. Market size and forecast, by Method
- 8.3.6.4.3. Market size and forecast, by Storage
- 8.3.6.4.4. Market size and forecast, by Application
- 8.3.6.4.5. Market size and forecast, by End-use Industry
- 8.3.6.5. Italy
- 8.3.6.5.1. Key market trends, growth factors and opportunities
- 8.3.6.5.2. Market size and forecast, by Method
- 8.3.6.5.3. Market size and forecast, by Storage
- 8.3.6.5.4. Market size and forecast, by Application
- 8.3.6.5.5. Market size and forecast, by End-use Industry
- 8.3.6.6. Rest of Europe
- 8.3.6.6.1. Key market trends, growth factors and opportunities
- 8.3.6.6.2. Market size and forecast, by Method
- 8.3.6.6.3. Market size and forecast, by Storage
- 8.3.6.6.4. Market size and forecast, by Application
- 8.3.6.6.5. Market size and forecast, by End-use Industry
- 8.4. Asia-Pacific
- 8.4.1. Key trends and opportunities
- 8.4.2. Market size and forecast, by Method
- 8.4.3. Market size and forecast, by Storage
- 8.4.4. Market size and forecast, by Application
- 8.4.5. Market size and forecast, by End-use Industry
- 8.4.6. Market size and forecast, by country
- 8.4.6.1. China
- 8.4.6.1.1. Key market trends, growth factors and opportunities
- 8.4.6.1.2. Market size and forecast, by Method
- 8.4.6.1.3. Market size and forecast, by Storage
- 8.4.6.1.4. Market size and forecast, by Application
- 8.4.6.1.5. Market size and forecast, by End-use Industry
- 8.4.6.2. Japan
- 8.4.6.2.1. Key market trends, growth factors and opportunities
- 8.4.6.2.2. Market size and forecast, by Method
- 8.4.6.2.3. Market size and forecast, by Storage
- 8.4.6.2.4. Market size and forecast, by Application
- 8.4.6.2.5. Market size and forecast, by End-use Industry
- 8.4.6.3. India
- 8.4.6.3.1. Key market trends, growth factors and opportunities
- 8.4.6.3.2. Market size and forecast, by Method
- 8.4.6.3.3. Market size and forecast, by Storage
- 8.4.6.3.4. Market size and forecast, by Application
- 8.4.6.3.5. Market size and forecast, by End-use Industry
- 8.4.6.4. South Korea
- 8.4.6.4.1. Key market trends, growth factors and opportunities
- 8.4.6.4.2. Market size and forecast, by Method
- 8.4.6.4.3. Market size and forecast, by Storage
- 8.4.6.4.4. Market size and forecast, by Application
- 8.4.6.4.5. Market size and forecast, by End-use Industry
- 8.4.6.5. Australia
- 8.4.6.5.1. Key market trends, growth factors and opportunities
- 8.4.6.5.2. Market size and forecast, by Method
- 8.4.6.5.3. Market size and forecast, by Storage
- 8.4.6.5.4. Market size and forecast, by Application
- 8.4.6.5.5. Market size and forecast, by End-use Industry
- 8.4.6.6. Rest of Asia-Pacific
- 8.4.6.6.1. Key market trends, growth factors and opportunities
- 8.4.6.6.2. Market size and forecast, by Method
- 8.4.6.6.3. Market size and forecast, by Storage
- 8.4.6.6.4. Market size and forecast, by Application
- 8.4.6.6.5. Market size and forecast, by End-use Industry
- 8.5. LAMEA
- 8.5.1. Key trends and opportunities
- 8.5.2. Market size and forecast, by Method
- 8.5.3. Market size and forecast, by Storage
- 8.5.4. Market size and forecast, by Application
- 8.5.5. Market size and forecast, by End-use Industry
- 8.5.6. Market size and forecast, by country
- 8.5.6.1. Brazil
- 8.5.6.1.1. Key market trends, growth factors and opportunities
- 8.5.6.1.2. Market size and forecast, by Method
- 8.5.6.1.3. Market size and forecast, by Storage
- 8.5.6.1.4. Market size and forecast, by Application
- 8.5.6.1.5. Market size and forecast, by End-use Industry
- 8.5.6.2. UAE
- 8.5.6.2.1. Key market trends, growth factors and opportunities
- 8.5.6.2.2. Market size and forecast, by Method
- 8.5.6.2.3. Market size and forecast, by Storage
- 8.5.6.2.4. Market size and forecast, by Application
- 8.5.6.2.5. Market size and forecast, by End-use Industry
- 8.5.6.3. Israel
- 8.5.6.3.1. Key market trends, growth factors and opportunities
- 8.5.6.3.2. Market size and forecast, by Method
- 8.5.6.3.3. Market size and forecast, by Storage
- 8.5.6.3.4. Market size and forecast, by Application
- 8.5.6.3.5. Market size and forecast, by End-use Industry
- 8.5.6.4. Rest of LAMEA
- 8.5.6.4.1. Key market trends, growth factors and opportunities
- 8.5.6.4.2. Market size and forecast, by Method
- 8.5.6.4.3. Market size and forecast, by Storage
- 8.5.6.4.4. Market size and forecast, by Application
- 8.5.6.4.5. Market size and forecast, by End-use Industry
CHAPTER 9: COMPETITIVE LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product Mapping of Top 10 Player
- 9.4. Competitive Dashboard
- 9.5. Competitive Heatmap
- 9.6. Top player positioning, 2021
CHAPTER 10: COMPANY PROFILES
- 10.1. Siemens Energy AG
- 10.1.1. Company overview
- 10.1.2. Key Executives
- 10.1.3. Company snapshot
- 10.2. General Compression Ltd (GCL)
- 10.2.1. Company overview
- 10.2.2. Key Executives
- 10.2.3. Company snapshot
- 10.3. Hydrostor Inc.
- 10.3.1. Company overview
- 10.3.2. Key Executives
- 10.3.3. Company snapshot
- 10.4. Bright Energy Storage Technologies
- 10.4.1. Company overview
- 10.4.2. Key Executives
- 10.4.3. Company snapshot
- 10.5. Pacific Gas and Electric Company
- 10.5.1. Company overview
- 10.5.2. Key Executives
- 10.5.3. Company snapshot
- 10.6. Apex Compressed Air Energy Storage, LLC
- 10.6.1. Company overview
- 10.6.2. Key Executives
- 10.6.3. Company snapshot
- 10.7. Ridge Energy Storage and Grid Services LP
- 10.7.1. Company overview
- 10.7.2. Key Executives
- 10.7.3. Company snapshot
- 10.8. ALACAES
- 10.8.1. Company overview
- 10.8.2. Key Executives
- 10.8.3. Company snapshot
- 10.9. Storelectric Limited
- 10.9.1. Company overview
- 10.9.2. Key Executives
- 10.9.3. Company snapshot
- 10.10. LightSail Energy
- 10.10.1. Company overview
- 10.10.2. Key Executives
- 10.10.3. Company snapshot