KEY FINDINGS
The global liquid air energy storage market is evaluated to reach a CAGR of 40.57% during the forecast period of 2023-2026. The significant factors steering market growth are low operating and capital costs, sustainable and clean energy storage with a longer lifespan, government support and technological advancements, rise in electricity consumption, and increasing focus on renewable electricity generation.
MARKET INSIGHTS
The liquid air energy storage systems use electricity to cool down the air until it liquefies. The liquid air is converted to a gas, which is then used to turn a turbine and generate electricity. The market is primarily driven due to its low capital and operating costs. The liquid air energy storage is a high-end cold store technology that uses a low-pressure device, a cost effective and largely available material, granite shingle, and a discharge device comprising of a standard gearbox, all of which reduces overall maintenance cost, and offers a longer lifespan.
The costs associated with LAES systems is one of the major factors hindering the market growth. Huge initial capital investment is needed for power plants and IPPs. The power utilities are reluctant to upgrade their power plants with liquid air energy storage systems because of the high costs involved. 5-15 MW capacity segment captured the largest revenue share in 2019. The companies are trying to increase the efficiency of their products and services through collaborations and partnerships.
REGIONAL INSIGHTS
The global liquid air energy storage systems market is analyzed regionally through the regions of North America, Europe, Asia Pacific, and the Rest of the World. As of 2019, Europe holds the largest market share in terms of revenue and is estimated to be consistent with the trend until the end of the forecast period. This is attributed to the presence of renewable installations in Europe.
COMPETITIVE INSIGHTS
The intensity of competition is estimated to be high, with the companies trying to increase their market share in the global market. Some of the well-established companies functioning in the market are Highview Power, Messer Group GmbH, Custom Metalcraft, Inc, Linde Kryotechnik, Mitsubishi Hitachi Power Systems Ltd, etc.
Our report offerings include:
-Explore key findings of the overall market
-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
Global Liquid Air Energy Storage (Laes) Market Forecast 2023-2026
Table of Contents
1. Research Scope & Methodology
1.1. Study Objectives
1.2. Scope Of Study
1.3. Methodology
1.4. Assumptions & Limitations
2. Executive Summary
2.1. Market Size & Estimates
2.2. Market Overview
3. Market Dynamics
3.1. Parent Market Analysis: Energy Storage Market
3.2. Development Of Liquid Air Energy Storage (Laes)
3.3. Market Definition
3.4. Key Drivers
3.4.1. Geographically Unconstrained Compared To Other Energy Storage Systems
3.4.2. Government Support And Technological Advancements
3.4.3. Low Operating And Capital Cost
3.4.4. Sustainable And Clean Energy Storage With A Long Lifespan
3.5. Key Restraints
3.5.1. Costs Associated With Laes Systems
3.5.2. Pumped Hydro Storage And Other Alternative Technologies
3.5.3. Difficulties In Implementation Of Laes On Large Scale
3.5.4. Shortage Of Labor Coupled With Land Constraints
4. Key Analytics
4.1. Key Investment Insights
4.2. Porter's Five Force Analysis
4.2.1. Buyer Power
4.2.2. Supplier Power
4.2.3. Substitution
4.2.4. New Entrants
4.2.5. Industry Rivalry
4.3. Opportunity Matrix
4.4. Vendor Landscape
4.5. Value Chain Analysis
4.5.1. Suppliers
4.5.2. Installation
4.5.3. Contracting & Marketing
4.5.4. End-Users
4.6. Key Buying Criteria
4.6.1. Cost
4.6.2. Efficiency
4.6.3. Adaptability & System Scalability
4.7. Regulatory Framework
5. Market By Capacity
5.1. 5-15 Mw Capacity
5.2. 16-50 Mw Capacity
5.3. 50-100 Mw Capacity
5.4. 100 Mw+ Capacity
6. Market By Application
6.1. Power Generation
6.2. Power Transmission
6.3. Power Distribution
6.4. Renewable Integration
6.5. Lng Terminals
6.6. Other Applications
7. Geographical Analysis
7.1. North America
7.1.1. United States
7.1.2. Canada
7.2. Europe
7.2.1. United Kingdom
7.2.2. Germany
7.2.3. France
7.2.4. Rest Of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. South Korea
7.3.4. Rest Of Asia Pacific
7.4. Rest Of World
7.4.1. Latin America
7.4.2. Middle East & Africa
8. Company Profiles
8.1. Highview Power
8.2. Custom Metalcraft Inc
8.3. Baker Hughes Company (Formerly, Baker Hughes, A Ge Co Llc)
8.4. Heatric (Division Of Meggitt (Uk) Limited)
8.5. Linde Kryotechnik Ag
8.6. Messer Group Gmbh
8.7. Mitsubishi Hitachi Power Systems Ltd (Mhps)
8.8. Viridor Limited
8.9. Man Energy Solutions Se
8.10. Keuka Energy Llc
List of Tables
Table 1: Market Snapshot - Liquid Air Energy Storage (Laes)
Table 2: Timeline Of Liquid Air Energy Storage Industry
Table 3: Comparison Between Liquid Air Energy Storage (Laes) And Other Storage Technologies/Systems
Table 4: Liquid Air Energy Storage (Laes) Efficiency Comparison With Other Storage Technologies.
Table 5: Energy Density Of Different Energy Storage Technology
Table 6: Features Of Different Energy Storage Systems Used In Distributed Energy Generation And Storage System.
Table 7: All-In Installed Cost Range Of Laes 4h System
Table 8: Regulatory Framework
Table 9: Global Liquid Air Energy Storage (Laes) Market, By Capacity, Historical Years, 2016-2019 (In $ Million)
Table 10: Global Liquid Air Energy Storage (Laes) Market, By Capacity, Forecast Years, 2023-2026 (In $ Million)
Table 11: Global 5-15 Mw Capacity Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 12: Global 5-15 Mw Capacity Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 13: Global 16-50 Mw Capacity Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 14: Global 16-50 Mw Capacity Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 15: Global 50-100 Mw Capacity Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 16: Global 50-100 Mw Capacity Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 17: Global 100 Mw+ Capacity Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 18: Global 100 Mw+ Capacity Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 19: Global Liquid Air Energy Storage (Laes) Market, By Application, Historical Years, 2016-2019 (In $ Million)
Table 20: Global Liquid Air Energy Storage (Laes) Market, By Application, Forecast Years, 2023-2026 (In $ Million)
Table 21: Global Power Generation Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 22: Global Power Generation Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 23: Global Power Transmission Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 24: Global Power Transmission Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 25: Global Power Distribution Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 26: Global Power Distribution Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 27: Global Renewable Integration Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 28: Global Renewable Integration Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 29: Global Lng Terminals Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 30: Global Lng Terminals Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 31: Global Other Applications Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 32: Global Other Applications Market, By Region, Forecast Years, 2023-2026 (In $ Million)
Table 33: Global Liquid Air Energy Storage (Laes) Market, By Geography, Historical Years, 2016-2019 (In $ Million)
Table 34: Global Liquid Air Energy Storage (Laes) Market, By Geography, Forecast Years, 2023-2026 (In $ Million)
Table 35: North America Liquid Air Energy Storage (Laes) Market, By Country, Historical Years, 2016-2019 (In $ Million)
Table 36: North America Liquid Air Energy Storage (Laes) Market, By Country, Forecast Years, 2023-2026 (In $ Million)
Table 37: Europe Liquid Air Energy Storage (Laes) Market, By Country, Historical Years, 2016-2019 (In $ Million)
Table 38: Europe Liquid Air Energy Storage (Laes) Market, By Country, Forecast Years, 2023-2026 (In $ Million)
Table 39: Asia Pacific Liquid Air Energy Storage (Laes) Market, By Country, Historical Years, 2016-2019 (In $ Million)
Table 40: Asia Pacific Liquid Air Energy Storage (Laes) Market, By Country, Forecast Years, 2023-2026 (In $ Million)
Table 41: Rest Of World Liquid Air Energy Storage (Laes) Market, By Region, Historical Years, 2016-2019 (In $ Million)
Table 42: Rest Of World Liquid Air Energy Storage (Laes) Market, By Region, Forecast Years, 2023-2026 (In $ Million)
List of Figures
Figure 1: Key Investment Insights
Figure 2: Electricity Demand Projection In Key Geographies, 2016-2040 (In Twh)
Figure 3: Average Annual Net Capacity Addition Estimates, 2010-2040 (In Gw)
Figure 4: Porter's Five Force Analysis
Figure 5: Opportunity Matrix
Figure 6: Vendor Landscape
Figure 7: Value Chain Analysis
Figure 8: Worldwide Trend Of Energy Consumption, 1970-2040 (In Billion Toe)
Figure 9: Key Buying Criteria
Figure 10: Global Liquid Air Energy Storage (Laes) Market, Growth Potential, By Capacity, In 2019
Figure 11: Global Liquid Air Energy Storage (Laes) Market, By 5-15 Mw Capacity, 2023-2026 (In $ Million)
Figure 12: Global Liquid Air Energy Storage (Laes) Market, By 16-50 Mw Capacity, 2023-2026 (In $ Million)
Figure 13: Global Liquid Air Energy Storage (Laes) Market, By 50-100 Mw Capacity, 2023-2026 (In $ Million)
Figure 14: Global Liquid Air Energy Storage (Laes) Market, By 100 Mw+ Capacity, 2023-2026 (In $ Million)
Figure 15: Global Liquid Air Energy Storage (Laes) Market, Growth Potential, By Application, In 2019
Figure 16: Global Liquid Air Energy Storage (Laes) Market, By Power Generation, 2023-2026 (In $ Million)
Figure 17: Global Liquid Air Energy Storage (Laes) Market, By Power Transmission, 2023-2026 (In $ Million)
Figure 18: Global Liquid Air Energy Storage (Laes) Market, By Power Distribution, 2023-2026 (In $ Million)
Figure 19: Global Liquid Air Energy Storage (Laes) Market, By Renewable Integration, 2023-2026 (In $ Million)
Figure 20: Global Liquid Air Energy Storage (Laes) Market, By Lng Terminals, 2023-2026 (In $ Million)
Figure 21: Global Liquid Air Energy Storage (Laes) Market, By Other Applications, 2023-2026 (In $ Million)
Figure 22: North America Liquid Air Energy Storage (Laes) Market, Regional Outlook, 2019 & 2026 (In %)
Figure 23: United States Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 24: Canada Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 25: Europe Liquid Air Energy Storage (Laes) Market, Regional Outlook, 2019 & 2026 (In %)
Figure 26: United Kingdom Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 27: Germany Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 28: France Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 29: Rest Of Europe Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 30: Asia Pacific Liquid Air Energy Storage (Laes) Market, Regional Outlook, 2019 & 2026 (In %)
Figure 31: China Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 32: Japan Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 33: South Korea Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 34: Rest Of Asia Pacific Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 35: Rest Of World Air Energy Storage (Laes) Market, Regional Outlook, 2019 & 2026 (In %)
Figure 36: Latin America Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
Figure 37: Middle East & Africa Liquid Air Energy Storage (Laes) Market, 2023-2026 (In $ Million)
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