Shape strategic responses through the phases of industry recovery
ABB Ltd., Andritz AG and Beacon Power LLC will emerge as major mechanical energy storage market participants during 2021-2025
LONDON–(BUSINESS WIRE)–#GlobalMechanicalEnergyStorageMarket–The mechanical energy storage market is expected to grow by 58.27 GigaWatts during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the mechanical energy storage market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The mechanical energy storage market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Mechanical Energy Storage Market Participants:
ABB Ltd. operates the business through various segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers largely plug and play energy storage system for residential solar installations, which is the first to enable simultaneous AC and DC Coupling and is very expandable.
Andritz AG operates the business through various segments such as Pulp & Paper, Metals, Hydro, and Separation. The company offers a hybrid energy solution that combines a hydropower unit with stationary energy storage based on automotive lithium-ion battery systems. This system can be applied to all types and sizes of hydropower plants such as low head, run of river, and high head and to all turbine types.
Beacon Power LLC
Beacon Power LLC operates the business through the Unified segment. The company offers a mechanical battery that stores kinetic energy in a rotating mass. These systems are modular and can be configured to meet the power capacity demands of a variety of applications, from 100 kW to multi MW systems.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/mechanical-energy-storage-market-industry-analysis
Mechanical Energy Storage Market 2021-2025: Segmentation
The mechanical energy storage market is segmented as below:
- Pumped Hydroelectric
- North America
- South America
The mechanical energy storage market is driven by the growing energy storage requirement. In addition, other factors such as increasing energy storage alternatives is expected to trigger the mechanical energy storage market toward witnessing a CAGR of about 6% during the forecast period.
Get more insights about the global trends impacting the future of mechanical energy storage market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR46678
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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