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Markets and Markets : Energy Storage Technology Market Poise $61.9 Billion by 2016(M2 PressWIRE Via Acquire Media NewsEdge) According to the new market research report "Advanced Energy Storage Technologies Market by Type, Applications and Strategic Opportunities (Forecast to 2016)" published by MarketsandMarkets, global energy storage technologies market is expected to grow at almost double-digit CAGR from 2011 to 2016. Browse 60 market data tables with 18 figures and in-depth TOC on Advanced Energy Storage Technologies Market by Type, Applications and Strategic Opportunities Forecast to 2016) http://www.marketsandmarkets.com/Market-Reports/high-power-energy-storage-advanced-technologies-and-global-market-research-95.html Early buyers will receive 10% customization on this report. Inquiry Before Buying @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=95 Flywheel-based technology is receiving grants from government for its development and installations. For example, U.S. based Beacon Power Corporation received $2.25 million from U.S. Department of Energy for development of flywheel energy storage system; which is also boosting growth in the market. Capacitor-based energy storage is expected to grow at a CAGR of 10.4% due to growing capacitor applications in transportation and electronics segment. The growing flat panel display, digital camera, and consumer electronics market are driving growth in capacitor-based storage technologies. Battery storage technology is expected to grow at a CAGR of 9.2% due to growing market for lithium ion batteries and adoption of NiMH batteries in automotive applications. The major drivers for energy storage technologies market are identified as energy arbitrage across the globe, government funding and grants, growing smart grid infrastructure development, growing market for hybrid vehicles, and enhanced performance. The capital intensive nature of energy storage technologies combined with environmental concerns over safe disposal of batteries offer little resistance towards adoption of energy storage technologies. The opportunities are cited in renewable energy integration and focus on lithium ion technology development. About MarketsandMarkets MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. CONTACT: Mr. Rohan North - Dominion Plaza, 17304 Preston Road, Suite 800, Dallas, TX 75252 Tel: +1-888-600-6441 Email: [email protected] ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.com on the world wide web. Inquiries to [email protected])). (c) 2013 M2 COMMUNICATIONS |