The value of the global market for distributed energy storage systems was US$ 4.2 billion in 2022, and it is anticipated to grow quickly, with a CAGR of 9.6%, to reach US$ 10.6 billion by 2032.
By the end of 2021, sales of distributed energy storage systems held around 12% of the worldwide energy storage system market.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7670
Refuse-Derived Fuel (RDF) is a product of the waste-to-energy industry, where non-recyclable waste materials are processed and converted into a valuable fuel source. The RDF market has witnessed steady growth over the past decade, driven by environmental concerns, energy demands, and a shift toward sustainable waste management practices. RDF is produced by mechanically sorting and processing municipal solid waste (MSW) to extract high-calorific-value materials suitable for incineration or co-firing in power plants.
Looking to the future, the RDF market is expected to continue its growth trajectory. Several factors contribute to this positive outlook. First, as the world grapples with increasing waste generation and limited landfill space, RDF provides a sustainable alternative. Its ability to divert non-recyclable waste from landfills aligns with global waste reduction goals and regulatory pressures to minimize landfill use.
Second, the energy market is increasingly turning to renewable and alternative energy sources. RDF is considered a renewable energy source, and its use in co-firing with traditional fuels in power plants is expected to gain traction. This co-firing approach reduces greenhouse gas emissions and offers a more sustainable way to generate energy.
Furthermore, as environmental concerns and regulations become more stringent, RDF will likely play a crucial role in waste-to-energy initiatives. Countries and regions aiming to reduce their carbon footprint will find RDF as an attractive option, especially as advanced technologies for RDF production and combustion improve efficiency and emissions control.
In addition to waste management and energy generation, RDF offers opportunities for local and regional economic development. The RDF production and utilization chain creates jobs and stimulates local economies. This aspect is particularly appealing as governments seek ways to bolster employment and encourage sustainable practices in the wake of environmental and economic challenges.
Key Companies Profiled in This Report
- Fluence
- GENERAL ELECTRIC
- Hitachi Energy Ltd.
- Jabil Inc.
- Johnson Controls
- NextEra Energy Resources, LLC
- Juniper Networks
- Panasonic Corporation
- SAMSUNG SDI CO., LTD.
- Schneider Electric
- Tesla
- TOSHIBA CORPORATION
Country-wise Insights:
What Is Fueling the U.S. Demand for Distributed Energy Storage Systems?
When it comes to producing energy from renewable sources, the U.S. is the world leader.
The Energy Information Administration (EIA) reports that 826 TWh of power were produced using renewable energy sources in the United States. Also, 163 energy storage systems with a combined 1,688 MWh of storage capacity have been installed across the nation.
The country’s central and municipal governments have established various rules and are offering incentives to encourage the use of electric vehicles by the populace.
The U.S. Department of Energy reports that compared to 2020, sales of electric vehicles increased by 85% in 2021.
The rising use of renewable energy sources for electricity generation will help the U.S. market for distributed energy storage systems grow even more. Hence, it is anticipated that by 2032, the market for battery energy storage systems in the United States will be worth US$ 2.6 billion.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7670
Competitive Landscape
- In June 2022, Lingtan Intelligence released its Tensorpack T 200kWh/100kW distributed energy storage DES system, battery, and energy management system, integrating batteries, thermal management system, DC/AC bidirectional converter, and fire protection system in the cabinet.
- In October 2021, Gogoro, Taipower, and Enel X collaborated to offer bidirectional charging through their battery swapping stations. This will broaden distributed energy storage systems by using more diverse sources.
- In September 2021, SimpliPhi Power and Lumin partnered to launch a user-friendly app to monitor the generation, consumption, and control of storage systems.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: [email protected]
