Asia’s grid-scale energy storage market projected to reach $36.4 billion by 2020, Zpryme Smart Grid Insights reports.
FOR IMMEDIATE RELEASE / PRURGENT
Austin, TX - (Zpryme) – 8/29/12 – A new Zpryme (www.zpryme.com) report, Energy Storage: Asian Systems & Apps released today reveals that the global grid-scale energy storage systems market is projected to reach $7.3 billion in 2012. By 2020, the global market is projected to reach $67.0 billion. More movingly, Asia’s grid-scale energy storage market is projected to reach $3.6 billion. By 2020, the Asia market will reach $36.4 billion.
“Nowhere is the opportunity greater for energy storage – and the need more pressing – than Asia, which faces a unique set of challenges. This report developed by Zpryme’s Smart Grid Insights Research Team and Zpryme’s Smart Grid Advisory Board, with valued contributions made by Alcatel-Lucent, Alstom Grid, GE, and IEEE, is the first of its kind to evaluate the energy storage opportunity, not just for the region, but also the key markets within it, namely, China, Japan, South Korea and India,” said Zpryme’s CEO and Director of Research Jason S. Rodriguez. “To help utilities make better investment decisions, our report examines the systems and applications that comprise energy storage solutions, as well as profiling the leading global technology vendors serving this market.”
Download Energy Storage: Asian Systems & Apps at: www.smartgridresearch.org
Asia’s large and growing population is placing unprecedented pressure on utilities to meet demand, and they cannot do it with the status quo. Even though the technologies are still evolving, energy storage presents a myriad of options that utilities can pursue right now. The Zpryme report, Energy Storage: Asian Systems & Apps reveals the top Asian markets by grid-scale energy storage (figures: 2020, US millions):
- China: $12,862
- Japan: $6,544
- India: $3,226
- South Korea: $2,545
See graphic, Grid-Scale Energy Storage System Forecast by Asian Country, 2012 – 2020: here
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