Wind energy storage devices consist of devices used to store wind energy. The wind energy storage devices market can be classified based on the modes of storage of wind energy such as pumped hydro storage, compressed air storage, and flywheels. The pumped hydro storage method uses wind turbines to pump water from a low reservoir to a high reservoir, which is then dropped onto a turbine to generate electricity. Compressed air storage involves the compression and storage of air in underground chambers. When the demand increases, this air is let out into the gas turbine to produce electricity.
Flywheels are devices which use the inertial force to cycle electricity. The energy generated in the wind turbine is used for rotating a flywheel which stores the energy for further use according to the requirement.
It is estimated that in the given period of forecast, the wind energy storage devices market will grow with a CAGR of 25.4%. Wind energy utilization has seen growth due to a large number of factors, the primary one being the large supply-demand gap. The primary drivers for the wind energy storage device market are - the demand supply deficit which can be met using the stored wind energy, the dwindling of fossil fuels which makes the prices of petroleum products highly volatile, and the need for pollution free energy which has no environmental hazards and is renewable.
Wind energy storage devices help store the wind energy generated at off-peak times and use the same during peak times to meet the increased demand. Wind power is a variable form of energy and the setup of the storage system is based on the actual wind energy generation of a particular plant. The storage devices have certain geographical requirement in order to operate with sufficient efficiency. Thus, installation of these devices at potential locations is a major criterion to be met. The demand of these devices is thus concentrated according to their location for usage.
Wind energy storage devices have a great future prospect since such storage is as important as the generation of energy. With a vast amount of investment in the wind energy market in the near future, energy storage will play a pivotal role in providing energy as and when needed.
Some of the big companies in the wind energy storage device market are Duke Power, Dresser-Rand, Ballard Power, Beacon Power, and Extreme Power.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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