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 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.
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What the report features:-
- Global analysis of Thermal Energy Storage marketfrom 2018 – 2027 illustrating the progression of the market.
- Forecast and analysis of Thermal Energy Storage market by Dosage, Route of Administration and Application from 2018 – 2027
- Forecast and analysis of Thermal Energy Storage market in five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America
Leading key market players mentioned in the report:-
Abengoa S.A., BrightSource Energy, Cryogel Thermal Energy Storage, DN Tanks, Evapco, Goss Engineering, Ice Energy, QCoefficient, SolarReserve, Steffes.
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.
This market research report administers a broad view of the Thermal Energy Storage market on a Global basis, presenting a forecast and statistics in terms of revenue during the forecast period. It covers an illustrative study with detailed segmentation, complete research and development history, latest news and press releases. Additionally, it demonstrates the future aspects and portrays a sketch of the key players involved in the Thermal Energy Storage market’s growth in terms of revenue.
The report contains imperative and pivotal details affecting the developments and growth of the market and also talks about the restricting factors that may restrain the Thermal Energy Storage market growth during the forecast period. Segmentations of the market are examined specifically to provide knowledge for supplementary market investments. Segmentation of the market on the basis of Dosage, Route of Administration and Application are elucidated in details portraying a descriptive structure of the market trends and restrictions affecting the Thermal Energy Storage market through the segments and sub-segments.
The report also provides the market size and estimates a forecast from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America providing an exhaustive PEST analysis for all five regions after evaluating political, economic, social and technological factors effecting the Thermal Energy Storage market.
The report also analyzes the factors affecting Thermal Energy Storage market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend.
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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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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.