Thermal Energy Storage Market Estimated to Flourish by 2027 - Top Competitors Abengoa S.A., BrightSource Energy, DN Tanks, Evapco, Goss Engineering, Ice Energy, QCoefficient, SolarReserve and Steffes
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.
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Top Leading Market Players:
1. Abengoa S.A.
2. BrightSource Energy, Inc.
3. Cryogel Thermal Energy Storage
4. DN Tanks
5. Evapco, Inc.
6. Goss Engineering
7. Ice Energy
8. QCoefficient, Inc.
9. SolarReserve, LLC
10. Steffes, LLC
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.
Market Segmentation :
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.
• 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 report is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2018 – 2027, considering 2018 as the base year and 2018 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions.
The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the 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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