Press release
Global Thermal Energy Storage Market Study Offering Deep Insight Related to Growth Trends until 2020
MRRSE
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In a recent market research report concerning the global thermal energy storage market zeroes in on the area of latent heat storage as the one with the most lucrative growth opportunities. The report states that the global market will exhibit an exponential 16.70% CAGR from 2014 through 2020 and rise to a valuation of US$1.8 bn by 2020, from US$0.6 bn in 2013.The report is titled “Thermal Energy Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020” and is available for sale on the company’s website.
Thermal energy storage technologies refer to the various ways of storing thermal energy for later use as required, rather than at the time of the production of the energy. These technologies are therefore central to various intermittent renewable energy generation methods. Thermal energy storage also provides an effective way of making sustained use of utilizing energy that is commonly wasted in several processes and reducing the energy demands of a facility. The need for reducing greenhouse gas emissions and introducing mixed energy sources in the overall energy mix of local, regional, and global utilities is dramatically changing the global power generation and distribution scenario. This has prompted researchers and power generation companies in looking for ways of effectively storing energy coming from a variety of sources.
The report provides a clean and comprehensive picture of the major thermal energy storage technologies available at present, their applicability, and their actual use in present-day power generation and distribution networks.
For examining the market in a better manner, the market has been examined from the perspective of three broad criteria: thermal energy storage technology, end use, and geography.
On the basis of technology, the market is segmented into sensible heat, thermochemical heat, and latent heat. Sensible heat technology, which is the most commonly used thermal energy storage technology, is projected to be the leading market segment over the report’s forecast period. However, the high energy density of latent heat technology has led to an increase in the focus on the technology. Thus, the segment of latent heat technology is projected to expand at a significant pace over the forecast period.
On the basis of end-users, the market has been segmented into utilities, commercial and industrial, and residential. The commercial and industrial sector dominated the market in 2013 owing to the exponential rise in the demand for an effective backup power supply. Nevertheless, the residential sector holds immense growth potential owing to the increased installation of renewable energy production mechanisms in households.
From a geographical standpoint, the market has been segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Europe held the dominant position in the global thermal energy storage market in 2013 in terms of the total installation capacity.
The study also includes the value chain of the global thermal energy storage market, which provides a glimpse of the upstream, midstream, and downstream players involved in the business as well as their interaction with end-users of technologies. Market share analysis has been conducted considering the thermal energy storage system/capacity installed and the upcoming thermal energy storage projects. The attractiveness analysis involves benchmarking and ranking each technology and region on the basis of numerous parameters. The parameters selected are likely to significantly affect demand for each technology in the current scenario as well as in the near future.
The technology segment analysis has been carried out on the global and regional level. The overall thermal energy storage market has been bifurcated into sensible heat, latent heat, and thermochemical storage technology segments. Primary end-user applications of thermal energy storage systems identified in this market study include commercial and industrial, utilities, and residential applications.
Complete Report details with TOC @ https://www.mrrse.com/thermal-energy-storage-market
Key participants in the global thermal energy storage market include CALMAC, EVAPCO, Inc., Chicago Bridge & Iron Company (CB&I), and Goss Engineering, Inc. Other market players that have been profiled in this report include Abengoa Solar, S.A., Baltimore Aircoil Company, Burns & McDonnell, Caldwell Energy, FAFCO Thermal Storage Systems, and TAS Energy. This report provides an overview of these companies, followed by their financial revenue, business strategies, and recent developments.
Global Thermal Energy Storage Market: Technology Segment
Sensible Heat
Latent Heat
Thermochemical Heat
Global Thermal Energy Storage Market: End Use Segment
Commercial and Industrial
Utilities
Residential
Global Thermal Energy Storage Market: Regional Analysis
North America
Europe
Asia Pacific
Rest of the World (RoW)
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