This post is the last in a series of excerpts from the Advanced Energy Now 2021 Market Report, prepared for AEE by Guidehouse Insights.
The year 2019 was one of the biggest for Electricity Delivery and Management, recording 13% growth globally and 14% in the United States; 2020 was strong as well, with global growth at 9% and 10% in the U.S.
Total revenue in the global market has traditionally been driven by large-scale transmission infrastructure, but Energy Storage has emerged as the fastest growing subsegment globally, with a CAGR of 47% from 2011 to 2020 and 35% growth last year, reaching $3.8 billion. Conversely, transmission, which comprised nearly half of Electricity Delivery and Management revenue in 2011, dropped from $6 billion to just over $3.2 billion in revenue since 2016.
In the United States, Transmission, which comprised nearly half of Electricity Delivery and Management revenue in 2011, has dropped from $6 billion to just over $3.2 billion in revenue since 2016. Meanwhile, Energy Storage has taken off, especially in the past year, jumping 139%, to $1.6 billion, in 2020, capping a run at 39% CAGR since 2011.