Global Mechanical Energy Storage Market 2021-2025
Technavio has been monitoring the mechanical energy storage market and it is poised to grow by 58.27 GW during 2021-2025 progressing at a CAGR of 6% during the forecast period. Our report on mechanical energy storage market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing energy storage requirement, government initiatives to promote energy storage, and change in energy mix. In addition, growing energy storage requirement is anticipated to boost the growth of the market as well.
The mechanical energy storage market analysis includes technology segment and geographical landscapes.
Technavio's mechanical energy storage market is segmented as below:
- Pumped hydroelectric
By Geographical Landscapes
- North America
- South America
This study identifies the renewables integration with energy storage as one of the prime reasons driving the mechanical energy storage market growth during the next few years. Also, flywheel energy storage for transportation and growing need for continuous power supply will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on mechanical energy storage market covers the following areas:
- Mechanical energy storage market sizing
- Mechanical energy storage market forecast
- Mechanical energy storage market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading mechanical energy storage market vendors that include ABB Ltd., Andritz AG, Beacon Power LLC, General Electric Co., Gilbert Gilkes & Gordon Ltd., Hitachi Ltd., Melrose Industries Plc, Siemens AG, STORNETIC GmbH, and Toshiba Corp.. Also, the mechanical energy storage market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.