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Global Cryogenic Energy Storage System Market Research Report 2025
Synopsis
Cryogenic Energy Storage System is a new large-scale energy storage technology that introduces low-temperature processes on the basis of traditional energy storage technology
Global Cryogenic Energy Storage System market is projected to reach US$ 988.5 million in 2029, increasing from US$ 426 million in 2022, with the CAGR of 12.6% during the period of 2023 to 2029. 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 Cryogenic Energy Storage System market research.
In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.
According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.
According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 134%.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Cryogenic Energy Storage System market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Highview Power
Linde
Mitsubishi Power
Sumitomo SHI FW
GE
Siemens
Messer
Viridor
Heatric
MAN
Atlas Copco
Cryostar
Chart Industries
Segment by Type
Flywheel Energy Storage
Superconducting Magnetic Energy Storage (SMES)
Liquid Air Energy Storage (LAES)
Others
Segment by Application
Household
Commercial
Industrial
Other
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
The Cryogenic Energy Storage System report covers below items:
Chapter 1: Product Basic Information (Definition, Type and Application)
Chapter 2: Manufacturers’ Competition Patterns
Chapter 3: Production Region Distribution and Analysis
Chapter 4: Country Level Sales Analysis
Chapter 5: Product Type Analysis
Chapter 6: Product Application Analysis
Chapter 7: Manufacturers’ Outline
Chapter 8: Industry Chain, Market Channel and Customer Analysis
Chapter 9: Market Opportunities and Challenges
Chapter 10: Market Conclusions
Chapter 11: Research Methodology and Data Source
Cryogenic Energy Storage System is a new large-scale energy storage technology that introduces low-temperature processes on the basis of traditional energy storage technology
Global Cryogenic Energy Storage System market is projected to reach US$ 988.5 million in 2029, increasing from US$ 426 million in 2022, with the CAGR of 12.6% during the period of 2023 to 2029. 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 Cryogenic Energy Storage System market research.
In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.
According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.
According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 134%.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Cryogenic Energy Storage System market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Highview Power
Linde
Mitsubishi Power
Sumitomo SHI FW
GE
Siemens
Messer
Viridor
Heatric
MAN
Atlas Copco
Cryostar
Chart Industries
Segment by Type
Flywheel Energy Storage
Superconducting Magnetic Energy Storage (SMES)
Liquid Air Energy Storage (LAES)
Others
Segment by Application
Household
Commercial
Industrial
Other
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
The Cryogenic Energy Storage System report covers below items:
Chapter 1: Product Basic Information (Definition, Type and Application)
Chapter 2: Manufacturers’ Competition Patterns
Chapter 3: Production Region Distribution and Analysis
Chapter 4: Country Level Sales Analysis
Chapter 5: Product Type Analysis
Chapter 6: Product Application Analysis
Chapter 7: Manufacturers’ Outline
Chapter 8: Industry Chain, Market Channel and Customer Analysis
Chapter 9: Market Opportunities and Challenges
Chapter 10: Market Conclusions
Chapter 11: Research Methodology and Data Source
Index1 Cryogenic Energy Storage System Market Overview
1.1 Product Definition
1.2 Cryogenic Energy Storage System Segment by Type
1.2.1 Global Cryogenic Energy Storage System Market Value Growth Rate Analysis by Type 2022 VS 2029
1.2.2 Flywheel Energy Storage
1.2.3 Superconducting Magnetic Energy Storage (SMES)
1.2.4 Liquid Air Energy Storage (LAES)
1.2.5 Others
1.3 Cryogenic Energy Storage System Segment by Application
1.3.1 Global Cryogenic Energy Storage System Market Value Growth Rate Analysis by Application: 2022 VS 2029
1.3.2 Household
1.3.3 Commercial
1.3.4 Industrial
1.3.5 Other
1.4 Global Market Growth Prospects
1.4.1 Global Cryogenic Energy Storage System Production Value Estimates and Forecasts (2018-2029)
1.4.2 Global Cryogenic Energy Storage System Production Capacity Estimates and Forecasts (2018-2029)
1.4.3 Global Cryogenic Energy Storage System Production Estimates and Forecasts (2018-2029)
1.4.4 Global Cryogenic Energy Storage System Market Average Price Estimates and Forecasts (2018-2029)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Cryogenic Energy Storage System Production Market Share by Manufacturers (2018-2023)
2.2 Global Cryogenic Energy Storage System Production Value Market Share by Manufacturers (2018-2023)
2.3 Global Key Players of Cryogenic Energy Storage System, Industry Ranking, 2021 VS 2022 VS 2023
2.4 Global Cryogenic Energy Storage System Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Cryogenic Energy Storage System Average Price by Manufacturers (2018-2023)
2.6 Global Key Manufacturers of Cryogenic Energy Storage System, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Cryogenic Energy Storage System, Product Offered and Application
2.8 Global Key Manufacturers of Cryogenic Energy Storage System, Date of Enter into This Industry
2.9 Cryogenic Energy Storage System Market Competitive Situation and Trends
2.9.1 Cryogenic Energy Storage System Market Concentration Rate
2.9.2 Global 5 and 10 Largest Cryogenic Energy Storage System Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Cryogenic Energy Storage System Production by Region
3.1 Global Cryogenic Energy Storage System Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.2 Global Cryogenic Energy Storage System Production Value by Region (2018-2029)
3.2.1 Global Cryogenic Energy Storage System Production Value Market Share by Region (2018-2023)
3.2.2 Global Forecasted Production Value of Cryogenic Energy Storage System by Region (2024-2029)
3.3 Global Cryogenic Energy Storage System Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.4 Global Cryogenic Energy Storage System Production by Region (2018-2029)
3.4.1 Global Cryogenic Energy Storage System Production Market Share by Region (2018-2023)
3.4.2 Global Forecasted Production of Cryogenic Energy Storage System by Region (2024-2029)
3.5 Global Cryogenic Energy Storage System Market Price Analysis by Region (2018-2023)
3.6 Global Cryogenic Energy Storage System Production and Value, Year-over-Year Growth
3.6.1 North America Cryogenic Energy Storage System Production Value Estimates and Forecasts (2018-2029)
3.6.2 Europe Cryogenic Energy Storage System Production Value Estimates and Forecasts (2018-2029)
3.6.3 China Cryogenic Energy Storage System Production Value Estimates and Forecasts (2018-2029)
3.6.4 Japan Cryogenic Energy Storage System Production Value Estimates and Forecasts (2018-2029)
4 Cryogenic Energy Storage System Consumption by Region
4.1 Global Cryogenic Energy Storage System Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
4.2 Global Cryogenic Energy Storage System Consumption by Region (2018-2029)
4.2.1 Global Cryogenic Energy Storage System Consumption by Region (2018-2023)
4.2.2 Global Cryogenic Energy Storage System Forecasted Consumption by Region (2024-2029)
4.3 North America
4.3.1 North America Cryogenic Energy Storage System Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.3.2 North America Cryogenic Energy Storage System Consumption by Country (2018-2029)
4.3.3 United States
4.3.4 Canada
4.4 Europe
4.4.1 Europe Cryogenic Energy Storage System Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.4.2 Europe Cryogenic Energy Storage System Consumption by Country (2018-2029)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Cryogenic Energy Storage System Consumption Growth Rate by Region: 2018 VS 2022 VS 2029
4.5.2 Asia Pacific Cryogenic Energy Storage System Consumption by Region (2018-2029)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Cryogenic Energy Storage System Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.6.2 Latin America, Middle East & Africa Cryogenic Energy Storage System Consumption by Country (2018-2029)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Cryogenic Energy Storage System Production by Type (2018-2029)
5.1.1 Global Cryogenic Energy Storage System Production by Type (2018-2023)
5.1.2 Global Cryogenic Energy Storage System Production by Type (2024-2029)
5.1.3 Global Cryogenic Energy Storage System Production Market Share by Type (2018-2029)
5.2 Global Cryogenic Energy Storage System Production Value by Type (2018-2029)
5.2.1 Global Cryogenic Energy Storage System Production Value by Type (2018-2023)
5.2.2 Global Cryogenic Energy Storage System Production Value by Type (2024-2029)
5.2.3 Global Cryogenic Energy Storage System Production Value Market Share by Type (2018-2029)
5.3 Global Cryogenic Energy Storage System Price by Type (2018-2029)
6 Segment by Application
6.1 Global Cryogenic Energy Storage System Production by Application (2018-2029)
6.1.1 Global Cryogenic Energy Storage System Production by Application (2018-2023)
6.1.2 Global Cryogenic Energy Storage System Production by Application (2024-2029)
6.1.3 Global Cryogenic Energy Storage System Production Market Share by Application (2018-2029)
6.2 Global Cryogenic Energy Storage System Production Value by Application (2018-2029)
6.2.1 Global Cryogenic Energy Storage System Production Value by Application (2018-2023)
6.2.2 Global Cryogenic Energy Storage System Production Value by Application (2024-2029)
6.2.3 Global Cryogenic Energy Storage System Production Value Market Share by Application (2018-2029)
6.3 Global Cryogenic Energy Storage System Price by Application (2018-2029)
7 Key Companies Profiled
7.1 Highview Power
7.1.1 Highview Power Cryogenic Energy Storage System Corporation Information
7.1.2 Highview Power Cryogenic Energy Storage System Product Portfolio
7.1.3 Highview Power Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.1.4 Highview Power Main Business and Markets Served
7.1.5 Highview Power Recent Developments/Updates
7.2 Linde
7.2.1 Linde Cryogenic Energy Storage System Corporation Information
7.2.2 Linde Cryogenic Energy Storage System Product Portfolio
7.2.3 Linde Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.2.4 Linde Main Business and Markets Served
7.2.5 Linde Recent Developments/Updates
7.3 Mitsubishi Power
7.3.1 Mitsubishi Power Cryogenic Energy Storage System Corporation Information
7.3.2 Mitsubishi Power Cryogenic Energy Storage System Product Portfolio
7.3.3 Mitsubishi Power Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.3.4 Mitsubishi Power Main Business and Markets Served
7.3.5 Mitsubishi Power Recent Developments/Updates
7.4 Sumitomo SHI FW
7.4.1 Sumitomo SHI FW Cryogenic Energy Storage System Corporation Information
7.4.2 Sumitomo SHI FW Cryogenic Energy Storage System Product Portfolio
7.4.3 Sumitomo SHI FW Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.4.4 Sumitomo SHI FW Main Business and Markets Served
7.4.5 Sumitomo SHI FW Recent Developments/Updates
7.5 GE
7.5.1 GE Cryogenic Energy Storage System Corporation Information
7.5.2 GE Cryogenic Energy Storage System Product Portfolio
7.5.3 GE Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.5.4 GE Main Business and Markets Served
7.5.5 GE Recent Developments/Updates
7.6 Siemens
7.6.1 Siemens Cryogenic Energy Storage System Corporation Information
7.6.2 Siemens Cryogenic Energy Storage System Product Portfolio
7.6.3 Siemens Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.6.4 Siemens Main Business and Markets Served
7.6.5 Siemens Recent Developments/Updates
7.7 Messer
7.7.1 Messer Cryogenic Energy Storage System Corporation Information
7.7.2 Messer Cryogenic Energy Storage System Product Portfolio
7.7.3 Messer Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.7.4 Messer Main Business and Markets Served
7.7.5 Messer Recent Developments/Updates
7.8 Viridor
7.8.1 Viridor Cryogenic Energy Storage System Corporation Information
7.8.2 Viridor Cryogenic Energy Storage System Product Portfolio
7.8.3 Viridor Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.8.4 Viridor Main Business and Markets Served
7.7.5 Viridor Recent Developments/Updates
7.9 Heatric
7.9.1 Heatric Cryogenic Energy Storage System Corporation Information
7.9.2 Heatric Cryogenic Energy Storage System Product Portfolio
7.9.3 Heatric Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.9.4 Heatric Main Business and Markets Served
7.9.5 Heatric Recent Developments/Updates
7.10 MAN
7.10.1 MAN Cryogenic Energy Storage System Corporation Information
7.10.2 MAN Cryogenic Energy Storage System Product Portfolio
7.10.3 MAN Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.10.4 MAN Main Business and Markets Served
7.10.5 MAN Recent Developments/Updates
7.11 Atlas Copco
7.11.1 Atlas Copco Cryogenic Energy Storage System Corporation Information
7.11.2 Atlas Copco Cryogenic Energy Storage System Product Portfolio
7.11.3 Atlas Copco Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.11.4 Atlas Copco Main Business and Markets Served
7.11.5 Atlas Copco Recent Developments/Updates
7.12 Cryostar
7.12.1 Cryostar Cryogenic Energy Storage System Corporation Information
7.12.2 Cryostar Cryogenic Energy Storage System Product Portfolio
7.12.3 Cryostar Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.12.4 Cryostar Main Business and Markets Served
7.12.5 Cryostar Recent Developments/Updates
7.13 Chart Industries
7.13.1 Chart Industries Cryogenic Energy Storage System Corporation Information
7.13.2 Chart Industries Cryogenic Energy Storage System Product Portfolio
7.13.3 Chart Industries Cryogenic Energy Storage System Production, Value, Price and Gross Margin (2018-2023)
7.13.4 Chart Industries Main Business and Markets Served
7.13.5 Chart Industries Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Cryogenic Energy Storage System Industry Chain Analysis
8.2 Cryogenic Energy Storage System Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Cryogenic Energy Storage System Production Mode & Process
8.4 Cryogenic Energy Storage System Sales and Marketing
8.4.1 Cryogenic Energy Storage System Sales Channels
8.4.2 Cryogenic Energy Storage System Distributors
8.5 Cryogenic Energy Storage System Customers
9 Cryogenic Energy Storage System Market Dynamics
9.1 Cryogenic Energy Storage System Industry Trends
9.2 Cryogenic Energy Storage System Market Drivers
9.3 Cryogenic Energy Storage System Market Challenges
9.4 Cryogenic Energy Storage System Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Published By : QY Research
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