Liquid Air Energy Storage Systems market research and analysis focus on rising market drifts to assist businesses find market opportunities and develop effective ways to optimise their market positions. Report contains complete coverage, intensive analysis, and actionable market insights to spot opportunities in existing and potential markets. Report also contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Report can be used by both established as well as new entrants to live competitive positions in dynamic market situations. Industry experts project Liquid Air Energy Storage Systems market to grow at a CAGR of 178.32% during the period 2017-2021.
A liquid air energy storage system is a system, which converts the surrounding air into liquid air and stores it; it later converts the air into a gaseous form with help of thermal units. The turbine runs on this gas and uses it to generate energy. This energy is stored in tanks from where electricity is supplied to the grid, whenever it is needed.
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Liquid Air Energy Storage Systems market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Liquid Air Energy Storage Systems industry. To determine the Liquid Air Energy Storage Systems market size the report considers detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments Further the Liquid Air Energy Storage Systems market report focuses on global major leading industry players with information. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in Liquid Air Energy Storage Systems market space like Custom Metalcraft, GE Oil & Gas, Heatric, Highview Power Storage, The Linge Group and many more.
Liquid Air Energy Storage Systems Market Drivers, and Trends: –
Liquid Air Energy Storage Systems Market Driver: – One driver in market is rise in use of renewable resources. Energy insecurities have led governments worldwide to focus on the alternate sources of power for the future. The rising concerns over carbon emissions from power plants have made it necessary to switch to gas-powered plants and renewable sources for electricity generation. A significant amount has been invested in the renewable sources for cleaner power generation, which has increased the year-over-year renewable installed capacity. The global liquid air energy storage systems market is driven by the need to maintain grid stabilization; awareness of issues pertaining to renewable resources, such as the wind, solar PV; and transmission and distribution (T&D) deferral. In addition, the need for optimizing variable renewables fed into the grids and balancing the demand-supply gap has also boosted the market growth. The liquid air energy storage systems enable efficient power supply to the grid whenever the need arises, especially during peak load times or electricity outage times, and supply shift for the variable nature of renewable energy sources. Ancillary services, such as regulation of grid and voltage support with a high-variable renewable energy share, are explored with an emphasis on short-term regulation at the grid level.
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Liquid Air Energy Storage Systems Market trend: – One trend in market is stringent vehicle emission regulations. Auto regulators around the world have been setting emission targets to control emissions as the transport sector accounts for about a quarter (23%) of global energy-related GHG emissions, which comprise nitrogen oxides (NOx), sulfur oxide (SOx), hydrocarbons, carbon monoxide, and particle matter (PM). While different regions across the world are setting different regulations, the overall message and targets are clear. Accordingly, the automobile industry needs to drastically limit the amount of emissions it produces. The adoption of liquid air energy storage system worldwide will help in reducing the global carbon emissions. The EU has set a target for the region to reduce the GHG emissions and countries, such as the US and China also set a target to decrease the GHG emissions by 15% to 20% by 2020. This increase in GHG emissions and the targets set by the governments across the world are boosting the global liquid air energy storage systems market. The adoption of these systems has the potential to change the complete outlook of the usage of power and fossil fuels in transportation