Energy storage is the method of capturing the energy for using it some other time. It involves the conversion of energy from the form, which is difficult to store to that form, which is economic or convenient for storing purposes. Some technologies involved in this process provide short-term energy storage, and some technologies can endure for a longer-term. Stationary energy includes emission from electricity generation, fuels consumed in construction, manufacturing & commercial sectors, and domestic heating. Energy storage plays a major role in creating a more reliable and flexible grid system.
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The increasing government funding and international financiers such as BNP Paribas, SoftBank, etc. are bolstering the growth of the UAE Stationary storage market. The vast upcoming expansion of renewable energy, the requirement of increased flexibility in the electricity system, and smoothing renewable energy input are some factors driving the growth of stationary energy storage in UAE during the forecast period. For instance, UAE has installed a pilot project using innovative concrete thermal storage technology along with sodium-sulfur batteries to level the load in Abu Dhabi. Growth in both the distributed generation and utility-scale segments can be seen in this region, showing government interest in expanding renewable sources.
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Various notable players operating in the UAE stationary energy storage market include GS Yuasa Corporation, BYD Company Ltd., LG Chem, Samsung SDI, Johnson Controls, NGK Insulators Ltd., Tesla Inc., Masdar, Man Energy Solutions and Toshiba Corporation among others.
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The UAE stationary energy storage market has been segmented on the basis of technology, application. On the basis of technology, the market is segmented into Thermal Energy Storage, Pumped Hydroelectricity Storage, Flywheels Energy Storage, Batteries, and Others. The application segment is categorized into Residential, Commercial & Industrial.
Key questions answered in this research report:
- At what pace is UAE stationary energy storage market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the various application areas and how they are poised to grow?
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