In a recent release, Electrical Power Storage Technologies for Alternative Energy Sources (EGY073A) from BCC Research, the global market for alternative energy storage is projected to be $325 million in 2011. That value should reach $423 million in 2016 as it increases at a five-year compound annual growth rate (CAGR) of 5.4%.
The global alternative energy storage market can be broken down into four segments - batteries, capacitive energy storage, fuel cells, and flywheel energy storage.
The segment made up of batteries is estimated to be worth $256 million in 2011 and in 2016 should be worth $322 million, yielding a CAGR of 4.7%.
The capacitive energy storage segment, estimated to be worth $30 million in 2011, should rise in 2016 to $40 million at a CAGR of 5.9%.
The segment made up of fuel cells is estimated to be worth $25 million in 2011, and is expected to be worth $44 million in 2016, a CAGR of 12%.
The flywheel energy storage segment is estimated to be worth $14 million in 2011 and should be worth $17 million in 2016, a CAGR of 4%.
Alternative energy units range from small kilowatt units to giant developmental modules that can store megawatts of power. Most of the expected growth in the industry will come from the power storage systems used in the wind and solar, specifically the photovoltaic, segments.
This report will be of interest to a variety of current and potential alternative energy makers, users, and integrators as well as battery, fuel cell, capacitive energy storage and flywheel energy storage system makers, and component makers.