Thermal Energy Storage Market Size and Key Growth Strategies Analysis, Industry New Tech Development by Forecast 2022

“Global Thermal energy storage Market Research Report - Forecast to 2023 ” Market Analysis,Scope, Stake, Progress, Trends and Forecast to 2023 .

Thermal Energy Storage Global Market – Overview
The growing Concentrating Solar Thermal Power (CSP) installations and the increasing demand for thermal energy storage in HVAC systems are some of the major reasons behind the growing thermal energy storage market. As per the study conducted by Market Research Future, the global market for thermal energy storage is likely to grow at the CAGR of around 10.03%.

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Global Market Thermal Energy Storage – Competitive Dashboard

• Caledonian MacBrayne and CalMac
• DN Tanks, Inc.
• Ice Energy Holdings, Inc.
• Steffes Corporation
• Burns & McDonnell
• Fafco, Inc
• Abengoa Solar

Industry News:-

In January, 2018 – Microsoft Highlights Steffes’ Mission to Revolutionize Renewable Energy Storage. Microsoft visited Dickinson facility in October to talk about Steffes’ ongoing mission to revolutionize how renewable energy is utilized through grid interactive storage.

In November, 2017 – Trane, a leading global provider of indoor comfort systems and services and a brand of Ingersoll Rand, announced that it has acquired CALMAC Corp., a privately held company specializing in cool energy technologies including IceBank storage tanks.

In June, 2017 – Ice Energy, the leading provider of distributed thermal energy storage solutions, announced that its Ice Bear 20 home cooling and energy storage system has achieved a Seasonal Energy Efficiency Ratio (SEER) of 14.56 when operating like a conventional AC unit, and when operating in its ice cooling mode using stored ice, an unprecedented Energy Efficiency Ratio (EER) of 150.

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Regional Analysis of Global Thermal Energy Storage Market:-

Europe is expected to remain the largest region due to the huge investments on solar energy. Moreover, government authorities are also trying to balance power generation between high load and low load hours. Lower costs of power generation will drive the market. Moreover, in the region there is strong emphasis on energy efficiency initiatives and rising levels of renewable energy generation. However, reluctance to shift from the traditional methods of storage act as barrier for the growth of the market in Europe.
Thermal energy storage has been widely used in the commercial sector in North America. While, Asia-Pacific Region is expected to grow significantly in the forecast period, owing to factors such as ever growing population and increased energy usage.

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This release was published on openPR.