The compressed air energy storage (CAES) technology includes the storage of energy by compression of air and storing the same in the underground cavern. The power is generated by heating the pressurized air and expansion of the same in a turbine, which drives the generator, leading to the power generation. Since 1870, CAES systems have been deployed to provide effective, on-demand energy for cities and industries. CAES offers the potential for both large- and small-scale, on-site energy storage solutions, as well as larger installations that can provide immense energy reserves for the grid. The first CAES plant of capacity 290 MW was set up in Germany in 1978, and a 110 MW plant commenced operation in Alabama in 1991. The successful operation of these two plants demonstrated the technical viability of CAES technology in supplying ancillary services, load following, and intermediate power generation. Despite its success, the market for CAES is in the nascent phase, due to several reasons, such as lack of investment and lack of technology, which prevented the development of new CAES plants. However, the market is expected to witness growth during the forecast period, owing to the increasing awareness of energy storage and investments on this technology

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

5. MARKET SEGMENTATION

6. COMPETITIVE LANDSCAPE

7. MARKET OPPORTUNITIES AND FUTURE TRENDS