Global Mountain Gravity Energy Storage (MGES) Market Research Report 2024
Published on: 2024-01-04 | No of Pages : 400 | Industry : Latest Trends
Publisher : MRA | Format : PDF
Global Mountain Gravity Energy Storage (MGES) Market Research Report 2024
MGES involves constructing cranes on the edge of a steep mountain with sufficient reach to transport sand (or gravel) from a storage location at the bottom to a storage location at the top.
A motor/generator transports storage vessels filled with sand from the bottom to the top, just like a ski lift. In the course of this process, potential energy storage takes place. Electricity is produced by lowering sand from the upper storage location back to the bottom.
According to MRA Research’s new survey, global Mountain Gravity Energy Storage (MGES) market is projected to reach US$ million in 2033, increasing from US$ million in 2023, with the CAGR of % during the period of 2023 to 2033. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Mountain Gravity Energy Storage (MGES) market research.
Due to the rapid development of the wind power and photovoltaic industry, as well as the increasing awareness of environmental protection in various countries, the energy storage industry is becoming one of the key technologies, which is used in many countries to advance the carbon neutral target process today. The United States, China and Japan occupied the leading position in the installed capacity of energy storage projects, among which the United States is the world's largest energy storage market. The European Union established the European Battery Alliance (EBA) in 2017, aiming to escape the EU's dependence on Asian manufacturers in the battery storage field. According to Data Europa’s statistics, the cumulative installed capacity has reached 48.38GW in 2020. At present, pumped storage accounts for 94% of the energy storage market in Europe, with Spain and Germany having the largest capacity. According to BNEF data, electrochemical energy storage in the United States added 3.97GW / 10.88 GWh in 2021. In terms of power, it accounted for 40% of the global increase. In 2023, the United States passed the IRA, which subsidized independent energy storage for the first time. Under the ITC, new energy storage projects could offset up to 73% of the investment. The effect of the policy has initially appeared, and the energy storage industry in the United States shows an upward trend.
Report Scope
This report, based on historical analysis (2018-2023) and forecast calculation (2023-2033), aims to help readers to get a comprehensive understanding of global Mountain Gravity Energy Storage (MGES) market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
Energy Vault
Heindl Energy
Advanced Rail Energy Storage
Gravitricity
Segment by Type
35 MWh
Others
Utilities
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
The Mountain Gravity Energy Storage (MGES) report covers below items
Chapter 1Product Basic Information (Definition, Type and Application)
Chapter 2Global market size, regional market size. Market Opportunities and Challenges
Chapter 3Companies’ Competition Patterns
Chapter 4Product Type Analysis
Chapter 5Product Application Analysis
Chapter 6 to 10Country Level Value Analysis
Chapter 11Companies' Outline
Chapter 12Market Conclusions
Chapter 13Research Methodology and Data Source
A motor/generator transports storage vessels filled with sand from the bottom to the top, just like a ski lift. In the course of this process, potential energy storage takes place. Electricity is produced by lowering sand from the upper storage location back to the bottom.
According to MRA Research’s new survey, global Mountain Gravity Energy Storage (MGES) market is projected to reach US$ million in 2033, increasing from US$ million in 2023, with the CAGR of % during the period of 2023 to 2033. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Mountain Gravity Energy Storage (MGES) market research.
Due to the rapid development of the wind power and photovoltaic industry, as well as the increasing awareness of environmental protection in various countries, the energy storage industry is becoming one of the key technologies, which is used in many countries to advance the carbon neutral target process today. The United States, China and Japan occupied the leading position in the installed capacity of energy storage projects, among which the United States is the world's largest energy storage market. The European Union established the European Battery Alliance (EBA) in 2017, aiming to escape the EU's dependence on Asian manufacturers in the battery storage field. According to Data Europa’s statistics, the cumulative installed capacity has reached 48.38GW in 2020. At present, pumped storage accounts for 94% of the energy storage market in Europe, with Spain and Germany having the largest capacity. According to BNEF data, electrochemical energy storage in the United States added 3.97GW / 10.88 GWh in 2021. In terms of power, it accounted for 40% of the global increase. In 2023, the United States passed the IRA, which subsidized independent energy storage for the first time. Under the ITC, new energy storage projects could offset up to 73% of the investment. The effect of the policy has initially appeared, and the energy storage industry in the United States shows an upward trend.
Report Scope
This report, based on historical analysis (2018-2023) and forecast calculation (2023-2033), aims to help readers to get a comprehensive understanding of global Mountain Gravity Energy Storage (MGES) market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Energy Vault
Heindl Energy
Advanced Rail Energy Storage
Gravitricity
Segment by Type
35 MWh
Others
Segment by Application
Utilities
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
The Mountain Gravity Energy Storage (MGES) report covers below items
Chapter 1Product Basic Information (Definition, Type and Application)
Chapter 2Global market size, regional market size. Market Opportunities and Challenges
Chapter 3Companies’ Competition Patterns
Chapter 4Product Type Analysis
Chapter 5Product Application Analysis
Chapter 6 to 10Country Level Value Analysis
Chapter 11Companies' Outline
Chapter 12Market Conclusions
Chapter 13Research Methodology and Data Source
Electronic and Semiconductor
Food and Beverages
Chemicals and Materials
Consumer Goods
Construction Manufacturing
Aerospace and Defence
Energy and Power
ICT Media
Banking and Finance
Automotive and Transportation
Machinery and Equipments
Pharmaceutical and Healthcare
Medical Devices