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Boom in energy storage, says study

Mon, 04/15/2013 - 18:36 -- Ruth Williams

The energy storage market is set to boom in the coming years, according to a report from GBI Research. The study said the market, currently valued at US$39.5 billion globally, will be worth US$62 billion in 2016 at a rate of growth of 9% a year.

It attributes this growth to smart grid developments, growing energy demand and transport applications. It highlighted Asia as the leading regional market for energy storage, followed by the US and then Europe.

The report called capacitor technology "one of the most promising" sectors.

View the full report here