Thermal Energy Storage Market is set to grow at a healthy CAGR up to 2024, China to show steady growth

China Thermal Energy Storage Market is set to grow on account of government incentives to promote the adoption of renewable energy sources. Introduction of sizeable solar farms to meet the growing energy consumption along with the implementation of CSP pilot projects to encourage energy efficiency will stimulate the industry outlook. In 2018, Henan, Jiangsu, Guangdong and Qinghai provinces announced the introduction of energy storage projects of variable capacity equaling 340.5 megawatt.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/2589

Government focus toward the provision of cost efficient and uninterrupted power supply along with surging demand from remote and off grid areas will boost the thermal energy storage market. Increasing demand for HVAC systems coupled with ongoing investments toward infrastructure development will further complement the industry landscape.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. DN Tanks
2. CALMAC Corp
3. Abengoa
4. CRYOGEL, an EREN GROUP Company
5. Dunham-Bush Holding Bhd
6. Goss Engineering, Inc.
7. TAS Energy Inc.
8. FAFCO, Inc.
9. Sunwell Technologies Inc.
10. Finetex EnE
11. McDermott International Inc.

Chapter 3 Thermal Energy Storage Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Key customer requirements
3.5 Entry barriers
3.6 Innovation & sustainability
3.7 Regulatory landscape
3.7.1 North America
3.7.1.1 U.S.
3.7.1.1.1 Federal Energy Regulatory Commission (FERC)
3.7.1.1.1.1 Order 841
3.7.1.1.1.2 Order 784-A
3.7.1.1.1.3 FERC Order 1000
3.7.1.1.2 Department of Energy
3.7.1.1.2.1 SunShot Initiative
3.7.1.1.2.2 Energy Storage Funding
3.7.1.2 California
3.7.1.2.1 Energy Storage Mandates and Rebates
3.7.1.2.2 Assembly Bill No. 2514
3.7.1.2.3 Order No. 792
3.7.1.2.4 Energy Storage Association (ESA)
3.7.1.2.4.1 Federal Policy
3.7.1.2.4.2 State Policy
3.7.1.2.5 National Grid Energy Storage Strategy
3.7.1.2.6 Self-Generation Incentive Program (SGIP)
3.7.1.2.7 California Assembly Bill 1150
3.7.1.2.8 Storage Act of 2011
3.7.1.3 Hawaii
3.7.1.4 HB 2618
3.7.1.4.1 SECTION 2: Chapter 235 “Energy storage; income tax credit”
3.7.1.5 New York
3.7.1.5.1 Incentive Program
3.7.1.6 New Jersey
3.7.1.6.1 New Jersey Clean Energy Program
3.7.1.7 Texas
3.7.1.7.1 Senate Bill 943
3.7.1.7.2 Project Number 39657
3.7.1.7.3 Project Number 39917
3.7.1.7.4 Project Number 39764
3.7.1.8 Canada
3.7.1.8.1 Energy Storage Procurement Framework
3.7.2 Europe
3.7.2.1 The Feed-in Tariff
3.7.3 Asia Pacific
3.7.3.1 China
3.7.3.1.1 China 13th Energy Technology Innovation Five Year Plan (2016-2020)
3.7.3.1.1.1 13th Five-Year-Plan (2016–2020) for solar development
3.7.3.1.2 CSP Goal
3.7.3.2 India
3.7.3.2.1 IREDA’S LOAN SCHEME FOR CSTs UNDER UNIDO-GEF-MNRE PROJECT
3.7.3.3 Japan
3.7.3.3.1 4th Strategic Energy Plan of Japan
3.7.4 Middle East & Africa
3.7.4.1 Saudi Arabia
3.7.4.1.1 National Renewable Energy Program
3.7.4.2 UAE
3.7.4.2.1 Energy Plan for 2050
3.7.4.3 Turkey
3.7.4.3.1 Renewable Energy Law 2010
3.7.5 Latin America
3.7.5.1 Chile
3.7.5.1.1 National Energy Policy 2050
3.7.5.1.2 Renewable Energy Target
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Rising deployment of concentrated solar power plants
3.8.1.2 Growing demand for Thermal Energy Storage (TES) technologies for comfort cooling
3.8.1.3 Favorable government incentives to promote the adoption of thermal energy storage systems
3.8.2 Industry pitfalls & challenges
3.8.2.1 High costs associated with TES systems
3.9 Thermal energy storage project list
3.10 Renewable energy storage trends & outlook
3.11 Growth potential analysis
3.12 Price trend analysis, by technology
3.13 Key customer requirements
3.14 Customer group requirement
3.15 Entry barriers
3.16 Porter’s analysis
3.17 Competitive landscape
3.17.1 Strategy Dashboard
3.17.1.1 Ice Energy
3.17.1.1.1 Collaboration
3.17.1.1.2 Program Launch
3.17.1.1.3 Partnership
3.17.1.2 Abengoa Solar S.A.
3.17.1.2.1 Partnership
3.17.1.3 SolarReserve, LLC
3.17.1.3.1 Agreement
3.17.1.3.2 Project
3.17.1.4 EVAPCO Inc.
3.17.1.4.1 Acquisition
3.17.1.5 FAFCO
3.17.1.5.1 Expansion
3.17.1.6 Dunham-Bush
3.17.1.6.1 Product Launch
3.17.1.7 Burns & McDonnell
3.17.1.7.1 Acquisition
3.17.2 Company market share, 2017
3.18 PESTEL Analysis

The U.S. thermal energy storage market was over USD 6 billion in 2017. Consumer awareness and inclination toward renewable based power generation along with massive investments toward research & development programs will accelerate the industry growth. In 2017, the country accounted for the installation of energy storage systems of around 41.8-megawatt capacity, depicting 46% year-on-year growth. In addition, utilities through 14 states employed energy storage of nearly 2 gigawatts under Integrated Resource Planning (IRP).

Make an inquiry for buying this report @ www.gminsights.com/inquiry-before-buying/2589

Thermal energy storage market by molten salt, in 2017 was valued over USD 9 billion. Rising consumer focus toward energy efficiency complemented by the implementation of energy storage programs will positively influence the industry growth. Increasing demand for large scale energy storage across various commercial and industrial establishments along with the adoption of CSP plants will further stimulate the product penetration.

Advancements in the materials and manufacturing technology for the development and deployment of storage systems will drive the thermal energy storage market. Enhanced efforts to limit the fuel-based power generation complemented by the introduction of solar power generation schemes across developing economies will further enhance the product penetration.

Increasing stringency toward limiting carbon footprint coupled with rising focus on sustainable technology adoption will stimulate the thermal energy storage market growth. Furthermore, rising demand for energy storage technologies on account of mitigating the power demand and supply mismatch will propel the business landscape.

Key industry players in the Thermal Energy Storage Market comprises Ice Energy, CALMAC Corp, DN Tanks, Abengoa, SolarReserve, Burns & McDonnell, BrightSource Energy, Inc., Baltimore Aircoil Company, CRYOGEL, an EREN GROUP Company, Dunham-Bush Holding Bhd, Goss Engineering, Inc., Steffes,TAS Energy Inc., EVAPCO, Inc., FAFCO, Inc., Sunwell Technologies Inc., Finetex EnE, McDermott International Inc., and Caldwell.

Browse key industry insights spread across 425 pages with 606 market data tables & 35 figures & charts from the report, Thermal Energy Storage Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/thermal-energy-storage-market

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.