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Compressed Air Energy Storage - Global Market Trajectory & Analytics

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    Report

  • 191 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5139690

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.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Compressed Air Energy Storage

What is the estimated value of the Global Market for Compressed Air Energy Storage?

The Global Market for Compressed Air Energy Storage was estimated to be valued at $2.9 Billion in 2020.

What is the growth rate of the Global Market for Compressed Air Energy Storage?

The growth rate of the Global Market for Compressed Air Energy Storage is 22.3%, with an estimated value of $11.9 Billion by 2027.

What is the forecasted size of the Global Market for Compressed Air Energy Storage?

The Global Market for Compressed Air Energy Storage is estimated to be worth $11.9 Billion by 2027.

Who are the key companies in the Global Market for Compressed Air Energy Storage?

Key companies in the Global Market for Compressed Air Energy Storage include 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. and Storelectric Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Year 2021 in Review and Near-term Outlook
  • Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
  • Exhibit 1: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 through 2023
  • COVID-19 Pandemic Brings Numerous Challenges to the Energy Sector
  • Exhibit 2: Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
  • Opportunities for the Power & Energy Sector in the Post-Pandemic Era
  • Mechanical Energy Storage Registers Rise in Demand
  • COVID-19 Pandemic Impacts Compressed Air Energy Storage Systems Market
  • Competitive Scenario
  • Exhibit 3: Compressed Air Energy Storage - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 16 Players Worldwide in 2022 (E)
  • Global Compressed Air Energy Storage Market to Enjoy Strong Windfalls Ahead
  • Rising Energy Demand Sets Compressed Air Energy Storage Market on Boiling Point: Outlook
  • Exhibit 4: World Compressed Air Energy Storage Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Renewable Energy Integration, Grid Optimization, and T&D Deferral
  • Drivers Keeping Global Compressed Air Energy Storage Market in Hot Seat
  • Renewables Going Strong, CAES to Record Strong Growth
  • Compressed Air Energy Storage on Cloud Nine with Flurry of Ambitious Projects
  • Diabatic Technology Enjoys Monopoly in Global Compressed Air Energy Storage Market
  • Regional Analysis: North America Emerges as Major Hub for Compressed Air Energy Storage Projects
  • Exhibit 5: World Compressed Air Energy Storage Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • Exhibit 6: World Compressed Air Energy Storage Market - Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: USA, Canada, China, Asia-Pacific, Rest of World, Europe, and Japan
  • Hydrostor Facilities to Provide Big Boost to Compressed Air Energy Storage
  • India: Development of Energy Storage Critical for Attaining Renewables-Related Goals
  • Israel: Augwind's AirBattery Compressed Air Energy Storage Solution
  • China: Salt Cavern CAES, the First in the Country, Becomes Operational
  • Australia: A-CAES System of Hydrostor Selected for Energy Supply Backup in Rural New South Wales
  • Compressed Air Energy Storage (CAES): Bundling Energy for Use at Peak Hours
  • Exhibit 7: Total Electrical Energy Stored Over Lifetime of Storage Technology
  • CAES Technologies
  • Pushing Efficiency & Maintaining High Pressure
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Compressed Air Energy Storage Gains Attention
  • CAES Helps Clean Energy Sector Gather Full Steam Ahead
  • Intriguing Advantages Widen the Business Case for CASE
  • Compressed Air Energy Storage Technology: Galvanizing Socio-Economic Gains
  • Compressed Air Energy Storage Emerges as Ideal Companion of Renewable Energy
  • Renewable Energy Sector on Growth Trajectory
  • A Note on Renewable Energy Programs in Select Countries
  • Exhibit 8: Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
  • Exhibit 9: Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022
  • Exhibit 10: Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030
  • Intermittent Nature of Renewable Energy Favors CAES Adoption
  • Electricity Demand Patterns Encourage Market Expansion
  • Exhibit 11: Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040
  • Demographic Trends and Urbanization Drive Electricity Demand
  • Exhibit 12: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Exhibit 13: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Growing Importance of Grid Connected Energy Storage Augurs Well
  • Exhibit 14: Global 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 Renewables
  • Grid Modernization Programs Emphasize Grid Connected Energy Storage
  • Exhibit 15: Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2019
  • Grid Reliability Assurances from CAES Promote Uptake
  • Compressed Air Energy Storage Walks in the Air & Offers Viable Option for Grid-Scale Storage
  • CAES to Help Utilities Realize Zero-Carbon Grid Targets
  • EnPowered Payments, A Unique On-bill Payments Platform Helping Customers Easily Secure CAES Systems
  • What Makes CAES a Strong Energy Storage Contender?
  • Smart Grids Elevate the Prospects
  • Exhibit 16: Global 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 America
  • Exhibit 17: Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
  • Strong Smart City Investments to Fuel Large-Scale Adoption
  • Exhibit 18: Number of Smart Cities Worldwide by Geographic Region (2025)
  • Factors Impeding Implementation of CAES
  • Efforts to Make Compressed Air Storage an Appealing Option
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Compressed Air Energy Storage Market Analysis of Annual Sales in US$ Million for Years 2017 through 2027
  • Table 2: World Recent Past, Current & Future Analysis for Compressed Air Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 3: World Historic Review for Compressed Air Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 4: World 10-Year Perspective for Compressed Air Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2017, 2021 & 2027
  • Table 5: World Recent Past, Current & Future Analysis for Renewable Energy Integration by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 6: World Historic Review for Renewable Energy Integration by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 7: World 10-Year Perspective for Renewable Energy Integration by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2021 & 2027
  • Table 8: World Recent Past, Current & Future Analysis for Grid Optimization by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 9: World Historic Review for Grid Optimization by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 10: World 10-Year Perspective for Grid Optimization by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2021 & 2027
  • Table 11: World Recent Past, Current & Future Analysis for T&D Deferral by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 12: World Historic Review for T&D Deferral by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 13: World 10-Year Perspective for T&D Deferral by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Small-Scale Renewable Energy Projects: A Threat to Grid-Scale Energy Storage?
  • Market Analytics
  • Table 14: USA Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 15: USA Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 16: USA 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
CANADA
  • Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Canada for 2022 (E)
  • Market Analytics
  • Table 17: Canada Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 18: Canada Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 19: Canada 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
JAPAN
  • Table 20: Japan Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 21: Japan Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 22: Japan 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
CHINA
  • China to Experience Notable Adoption of Energy Storage Systems in Long Term
  • Market Analytics
  • Table 23: China Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 24: China Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 25: China 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
EUROPE
  • Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Advanced Energy Storage Gains Momentum in Western Europe
  • Market Analytics
  • Table 26: Europe Recent Past, Current & Future Analysis for Compressed Air Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 27: Europe Historic Review for Compressed Air Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 28: Europe 10-Year Perspective for Compressed Air Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2017, 2021 & 2027
  • Table 29: Europe Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 30: Europe Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 31: Europe 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
FRANCE
  • Table 32: France Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 33: France Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 34: France 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
GERMANY
  • Table 35: Germany Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 36: Germany Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 37: Germany 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
ITALY
  • Table 38: Italy Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 39: Italy Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 40: Italy 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
UNITED KINGDOM
  • Table 41: UK Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 42: UK Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 43: UK 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
REST OF EUROPE
  • Table 44: Rest of Europe Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 45: Rest of Europe Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 46: Rest of Europe 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
ASIA-PACIFIC
  • Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Asia: A Potential Laden Market
  • Market Analytics
  • Table 47: Asia-Pacific Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 48: Asia-Pacific Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 49: Asia-Pacific 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
REST OF WORLD
  • Compressed Air Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Rest of World for 2022 (E)
  • Market Analytics
  • Table 50: Rest of World Recent Past, Current & Future Analysis for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • Table 51: Rest of World Historic Review for Compressed Air Energy Storage by End-Use - Renewable Energy Integration, Grid Optimization and T&D Deferral Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2019 and % CAGR
  • Table 52: Rest of World 10-Year Perspective for Compressed Air Energy Storage by End-Use - Percentage Breakdown of Value Sales for Renewable Energy Integration, Grid Optimization and T&D Deferral for the Years 2017, 2021 & 2027
IV. COMPETITION
  • Total Companies Profiled: 27

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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.