Press release
Thermal Energy Storage Market Regional Analysis, Key Players, Industry Segments, Development, Opportunities, Forecast to 2022
Thermal energy storage is a technology that stocks thermal energy and is designed for use in heating & cooling applications and in power generation. The storage of thermal energy, replaces heat and cold production from fossil fuels while also reducing carbon emissions and lowering the need for expensive power and heat production capacity. Moreover, features such as lower capital costs as compared to other storage technologies as well as very high operating efficiency are some of the factors driving the energy storage market. 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.
While, additional cost & complexity, additional infrastructure & space requirements are some factors that act as barriers for the thermal energy storage market
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The global thermal energy storage market size was valued at around USD XX Billion in 2015 and is expected to cross USD XX Billion at CAGR of XX% by 2022.
Study Objectives of Thermal Energy Storage Market
To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the global thermal energy storage market
To provide insights about factors affecting the market growth
To analyze the global thermal energy storage market based on various tools such as Price Analysis, Supply Chain Analysis, Porters Five Forces Analysis
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segment by Technology, Vehicle type and regions
To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To 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
Segmentation
Global Thermal Energy Storage Market Research Report - Forecast to 2022 -Report image 00
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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Key Players
The key players of global thermal energy storage market include Caledonian MacBrayne and CalMac (U.K.), DN Tanks, Inc. (U.S.), Ice Energy Holdings, Inc. (U.S.), Steffes Corporation (U.S.), Burns & McDonnell (U.S.), Fafco, Inc (U.S) and Abengoa Solar (Spain).
Target Audience
Manufactures
Raw Materials Suppliers
Aftermarket suppliers
Research Institute / Education Institute
Potential Investors
Key executive (CEO and COO) and strategy growth manager
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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