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KEY FINDINGS
The Asia Pacific liquid air energy storage market is estimated to register a CAGR of 51.55% over the forecast period of 2023-2026. The new energy storage projects budding in emerging markets in developing countries, mainly driven by rapidly falling energy storage costs, are boosting the market growth in the region.
MARKET INSIGHTS
The Asia Pacific liquid air energy storage market is analyzed further by segmenting the region into countries such as China, South Korea, Japan, and the rest of Asia Pacific. In South Korea, the rising focus on the renewable energy sector is expected to increase the adoption of liquid air energy storage technology. The liquid air energy storage market is expected to emerge as a rewarding alternative to energy storage technology, owing to its cost efficiency, heat reduction and cold waste efficiency, easy deployment in various locations are helping in an expansion of its scope of adoption. South Korea is one of the world's leading manufacturers of batteries, and has been promoting grid and distributed energy storage for load leveling and frequency distribution. Also, the increase in solar energy generation will lead to a surge in demand for large energy storage systems such as LAES.
The Australian market is estimated to grow, owing to rising energy demand in the country. The country is expected to continue focusing on LNG to meet its growing energy demand. Huge opportunity and adoption of energy storage technology, owing to the presence of gas projects in the country, are expected to promote the deployment of liquid air energy storage technology in the country. In India, the high potential for LNG is predicted to provide profitable growth opportunities for the LAES market.
COMPETITIVE INSIGHTS
Some of the well-established companies functioning in the market include Messer Group GmbH, Baker Hughes, Mitsubishi Hitachi Power Systems Ltd, Heatric, Highview Power, etc.
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-Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
-Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
-Market Segmentation cater to a thorough assessment of key segments with their market estimations
-Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
-Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
-Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
-Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments