Compressed Air Energy Storage - Global Market Trajectory & Analytics

Global Compressed Air Energy Storage Market to Reach $11.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Compressed Air Energy Storage estimated at US$2.9 Billion in the year 2020, is projected to reach a revised size of US$11.9 Billion by 2027, growing at a CAGR of 22.5% over the period 2020-2027. Renewable Energy Integration, one of the segments analyzed in the report, is projected to record a 22.9% CAGR and reach US$5.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Grid Optimization segment is readjusted to a revised 18.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 22.7% CAGR

The Compressed Air Energy Storage market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$918.6 Million by the year 2027 trailing a CAGR of 22.7% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.2% and 24.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 22.5% CAGR.

T&D Deferral Segment to Record 25.3% CAGR

In the global T&D Deferral segment, USA, Canada, Japan, China and Europe will drive the 25.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$652.2 Million in the year 2020 will reach a projected size of US$3.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 27 Featured)

• Airlight Energy Manufacturing SA
• Apex Compressed Air Energy Storage, LLC
• Bright Energy Storage Technologies LLP
• Hydrostor Inc.
• Magnum Development LLC
• Pacific Gas and Electric Company
• Ridge Energy Storage & Grid Services L.P.
• Siemens AG
• Storelectric Ltd.

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