3rd April 2020 – Global Thermal
Energy Storage Market report offers the latest industry trends, technological
alteration and forecast data. A deep-dive view of Thermal Energy Storage
industry based on its size, growth, development plans, and opportunities is
offered by this report. The forecast information, SWOT analysis, Thermal Energy
Storage barriers, and feasibility study are the vital aspects evaluated in this
report.
Synopsis:
The global Thermal Energy Storage
Market was appreciated at US$ 3.20 billion in 2016 and will touch the value of
US$ 12.50 billion by the completion of the year 2025. The storage of thermal energy is a machinery comprising the storing
of energy by way of cooling or heating medium with the aim of the stored energy
to be utilized at a later step for the purpose of generation of power. It also
simplifies the balancing amidst the demand and supply of energy.
The thermal energy storage hinge on a
lot of issues for example capacity of storage, utilization of temperature as
per the requirements, duration of storage, available space, losses of heat, and
supply. The important benefits of thermal energy storage are an upsurge in
system dependability, decrease in the costs of generation and growth in the
capacity of power generation.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Thermal Energy Storage Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Thermal Energy Storage Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
Drivers:
The most important issues motivating the
development of the global thermal energy storage market are growing focus on
the generation of renewable energy and growing government initiatives for the
system of thermal power energy storage. Furthermore, the increasing demand for
it in Heating, Ventilation, and Cooling (HVAC) will motivate the demand for it.
Moreover, the greater demand for it in concentrated solar power (CSP) too offer
a development opening for the global market for thermal energy storage.
What's more, the global thermal energy
storage industry is estimated to develop at a greater percentage for the
duration of the forecast owing to the growing emphasis on the generation of
renewable energy.
By way of growing generation of
renewable energy, here is the greatest necessity to store this energy, because
the generation of renewable energy rests on sun and wind. This requires storing
of the generated renewable energy from sources for example hydrogen, thermal,
and solar. This will increase the demand for the system of energy storage,
comprising thermal energy storage.
Restraints:
On the other hand; greater barriers on
interconnections of grid and absence of technological capability may well pose
as restraints for the development.
Regional Lookout:
By Region the global thermal energy
storage industry can be classified as North America, Europe, Asia Pacific,
South America, and Middle East & Africa. North America grasps the principal
share in the market for thermal energy storage. A big sum of energy storage
projects has been observed in the U.S.A during the previous small number of
years. This will increase the market within the province.
Middle East & Africa are expected to
be a robust donor in the market for thermal energy storage during the period of
forecast, due to tough directives by the government and enormous resources of
solar. Middle East & Africa is likely to record speedy CAGR as compare to
any additional province. It is funded by growing existence of most important
companies within the market.
Companies:
Some of the important companies
for thermal energy storage market are Cristopia Energy Systems, Baltimore Air
coil Company, Bright source Energy, Inc., FAFCO, Inc., Steffes Corporation, DN
Tanks, Calmac, Solar reserve, LLC, Abengoa Solar, Burns & McDonnell, Ice
Energy, Caledonian MacBrayne. Additional notable companies are Evapco, Inc., Chicago
Bridge & Iron Company N.V. (CB&I), Caldwell Energy, Dunham-Bush Holding
Bhd., Cryogel, TAS Energy, SENER Group, and Goss Engineering.
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