The thermal energy storage refers to the storage of thermal energy by means of cooling, heating, vaporizing, solidifying, or melting of substances and reversing the process for later use. This is useful in balancing the demand and supply of the energy in residential, commercial and industrial entities. Besides, it is greener as it reduces greenhouse gases and decreases carbon footprint by eliminating the need for more fossil-based power plants. The thermal energy storage finds application in power generation, process heating and cooling and district heating and cooling.
The "Global Thermal Energy Storage Market Analysis to 2027" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of thermal energy storage market with detailed market segmentation by technology, storage material, application, end-user and geography.
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• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Thermal Energy Storage Market
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
The thermal energy storage market is anticipated to grow in the forecast period owing to driving factors such as increasing demands for thermal energy storage systems in HVAC and rising focus on adoption of the renewable energy generation, concentrated solar power (CSP) in particular.
Moreover, with government incentives for the thermal energy storage system, we can expect good growth of the market in the developed countries. However, a lack of technical expertise may hamper market growth. Nonetheless, the untapped markets hold great potential for the thermal energy storage market during the forecast period.
The global thermal energy storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading thermal energy storage market players and offers key trends and opportunities in the market.
The global thermal energy storage market is segmented on the basis of technology, storage material, application and end-user. Based on technology, the market is segmented as sensible heat storage, latent heat storage and thermochemical storage. By storage material, the market is segmented as water, molten salt, PCM, others. On the basis of the application, the market is segmented as power generation, district heating & cooling and process heating & cooling. The market on the basis of the end-user is classified as industrial and residential & commercial.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global thermal energy storage market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
The thermal energy storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting thermal energy storage market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the thermal energy storage market in these regions.
The reports cover key developments in the thermal energy storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations.
These activities have paved the way for the expansion of business and customer base of market players. The market payers from thermal energy storage market are anticipated to lucrative growth opportunities in the future with the rising demand for thermal energy storage in the global market. Below mentioned is the list of few companies engaged in the thermal energy storage market.
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Reasons to Buy the Report:
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.
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