Global Compressed Air Energy Storage Strategic Analysis Report 2023: Market to Reach $22.5 Billion by 2030 – CAES Helps Clean Energy Sector Gather Full Steam Ahead

DUBLIN, Nov. 28, 2023 /PRNewswire/ — The “Compressed Air Energy Storage – Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

Global Compressed Air Energy Storage Market to Reach $22.5 Billion by 2030

The global market for Compressed Air Energy Storage estimated at US$3.9 Billion in the year 2022, is projected to reach a revised size of US$22.5 Billion by 2030, growing at a CAGR of 24.3% over the analysis period 2022-2030.

Renewable Energy Integration, one of the segments analyzed in the report, is projected to record 24.6% CAGR and reach US$10.1 Billion by the end of the analysis period. Growth in the Grid Optimization segment is estimated at 20.6% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 23.8% CAGR

The Compressed Air Energy Storage market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 23.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.3% and 25.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.1% CAGR.

MARKET OVERVIEW

Impact of COVID-19 Pandemic and Looming Global RecessionYear 2021 in Review and Near-term OutlookProlonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth OutlookWorld Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 through 2023COVID-19 Pandemic Brings Numerous Challenges to the Energy SectorGlobal Energy Market Growth Outlook (In %) for Years 2019 through 2025Opportunities for the Power & Energy Sector in the Post-Pandemic EraMechanical Energy Storage Registers Rise in DemandCOVID-19 Pandemic Impacts Compressed Air Energy Storage Systems MarketCompetitive ScenarioCompressed Air Energy Storage – Global Key Competitors Percentage Market Share in 2021 (E)Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)Global Compressed Air Energy Storage Market to Enjoy Strong Windfalls AheadRising Energy Demand Sets Compressed Air Energy Storage Market on Boiling Point: OutlookWorld Compressed Air Energy Storage Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Renewable Energy Integration, Grid Optimization, and T&D DeferralDrivers Keeping Global Compressed Air Energy Storage Market in Hot SeatRenewables Going Strong, CAES to Record Strong GrowthCompressed Air Energy Storage on Cloud Nine with Flurry of Ambitious ProjectsDiabatic Technology Enjoys Monopoly in Global Compressed Air Energy Storage MarketRegional Analysis: North America Emerges as Major Hub for Compressed Air Energy Storage ProjectsWorld Compressed Air Energy Storage Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing RegionsWorld Compressed Air Energy Storage Market – Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: USA, Canada, China, Asia-Pacific, Rest of World, Europe, and JapanHydrostor Facilities to Provide Big Boost to Compressed Air Energy StorageIndia: Development of Energy Storage Critical for Attaining Renewables-Related GoalsIsrael: Augwind’s AirBattery Compressed Air Energy Storage SolutionChina: Salt Cavern CAES, the First in the Country, Becomes OperationalAustralia: A-CAES System of Hydrostor Selected for Energy Supply Backup in Rural New South WalesCompressed Air Energy Storage (CAES): Bundling Energy for Use at Peak HoursTotal Electrical Energy Stored Over Lifetime of Storage TechnologyCAES TechnologiesPushing Efficiency & Maintaining High PressureRecent Market Activity

MARKET TRENDS & DRIVERS

Compressed Air Energy Storage Gains AttentionCAES Helps Clean Energy Sector Gather Full Steam AheadIntriguing Advantages Widen the Business Case for CASECompressed Air Energy Storage Technology: Galvanizing Socio-Economic GainsCompressed Air Energy Storage Emerges as Ideal Companion of Renewable EnergyRenewable Energy Sector on Growth TrajectoryA Note on Renewable Energy Programs in Select CountriesTargets for Electricity Production from Renewable Energy Sources Worldwide by CountryGlobal Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030Intermittent Nature of Renewable Energy Favors CAES AdoptionElectricity Demand Patterns Encourage Market ExpansionGlobal Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040Demographic Trends and Urbanization Drive Electricity DemandWorld Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050Growing Importance of Grid Connected Energy Storage Augurs WellGlobal 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 RenewablesGrid Modernization Programs Emphasize Grid Connected Energy StorageGlobal Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2019Grid Reliability Assurances from CAES Promote UptakeCompressed Air Energy Storage Walks in the Air & Offers Viable Option for Grid-Scale StorageCAES to Help Utilities Realize Zero-Carbon Grid TargetsEnPowered Payments, A Unique On-bill Payments Platform Helping Customers Easily Secure CAES SystemsWhat Makes CAES a Strong Energy Storage Contender?Smart Grids Elevate the ProspectsGlobal 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 AmericaGlobal Market for Smart Grids in US$ Billion) for the Years 2018 and 2020Strong Smart City Investments to Fuel Large-Scale AdoptionNumber of Smart Cities Worldwide by Geographic Region (2025)Factors Impeding Implementation of CAESEfforts to Make Compressed Air Storage an Appealing Option

FOCUS ON SELECT PLAYERS(Total 27 Featured)

Siemens Energy AGPacific Gas & Electric CompanyHydrexiaHydrostor, Inc.Korea Electric Power Corporation (KEPCO)NRStor, Inc.MAN Energy Solutions SEEnel Green Power SpAGravitricity

For more information about this report visit https://www.researchandmarkets.com/r/4p9dam

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected] 
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-compressed-air-energy-storage-strategic-analysis-report-2023-market-to-reach-22-5-billion-by-2030—caes-helps-clean-energy-sector-gather-full-steam-ahead-301998898.html

SOURCE Research and Markets