Thermal Energy Storage Market Global Market Share, Trends and Growth Insights by Top Key Players -DN Tanks, Solar Reserve, Bright Source Energy

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Thermal Energy Storage Market.

According to the report on Thermal Energy Storage Market, it is expected that the market is to offer high growth due to the rising demand in recent years for advanced energy technology. Increasing demand from end-use industries/applications, including manufacturing, commercial and residential, is expected to drive the growth of the market for thermal energy storage.

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This sector has seen a number of major innovations including Baltimore Aircoil Company, DC PRO Engineering, Ice Power, DN Tanks, SolarReserve, BrightSource Energy, and Caldwell Energy Company with an emphasis on both organic and inorganic growth strategies.

What is Thermal Energy Storage?

Thermal energy storage is a system that stores thermal energy by heating or cooling a storage medium so that the energy stored can be used for heating and cooling applications and generating power at a later time. The benefits of an energy storage system are better economics and efficiency, decreasing expenditure and running costs, less emissions of the atmosphere, etc. For thermal energy storage systems, various types of storage materials include molten salt, water, phase-change material, and others.

The increasing demand for the industrial application for thermal energy storage systems is one of the key factors driving the market for the thermal energy storage system.

Growing the adoption of renewable energy sources and rising demand for continuous power supply drive the market. In addition, high demand for district heating & cooling for thermal energy storage in heating, ventilation, and air conditioning (HVAC) is expected to fuel market growth. However, lack of awareness regards to storage technology, additional costs associated with the use of thermal energy storage systems and the need for highly skilled technicians to maintain the system are expected to restrain market growth over the forecast period.

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This report provides:

1) An overview of Global Thermal Energy Storage Market globally and related technologies.

2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).

3) Identification of new market opportunities and targeted promotion plans for Global Thermal Energy Storage Market.

4) Discussion of R&D and demand for new products and new applications

5) Comprehensive company profiles of key industry players.

The researchers have studied the market in-depth and have come up with major segments like product type, application, and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

Key Factors Impacting Market Growth:
o Lower pollution levels in the environment
o Increasing demand for storage energy
o Rising demand for advanced energy technology

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

The regional market overview for thermal energy storage offers detailed information for markets like North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World.

During the forecast period, North America and Western Europe are expected to be main regions for the demand for thermal energy storage. The energy & power sector is one of the developed regions which is essential to the operations of various industries in this area. This is one of the important factors for the growth of the market for thermal energy storage in those areas. Some of the major countries included in this area include the USA, Germany, United Kingdom, France, Italy, Canada, etc.

During the forecast period, Asia Pacific is expected to be one of the fastest-growing thermal energy storage markets regions. Some of the fastest-growing economies and increasing energy & power demand to cater for high population & industries are expected to drive demand in this region.

During the forecast period, China and India are expected to record large demand. Middle East covers the countries includes UAE, Saudi Arabia, Iran, Qatar, and others promises huge market potential during the forecast period. The rest of the World including South America and Africa are trending regions in terms of market demand during the forecast period.

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Understanding the key Development:

o In Dec 2016, Burns & McDonnell purchased Azco, Inc. (U.S.), an engineering contractor. The firms worked together on multiple projects and recently made a combustion turbine generator for the Empire Riverton power plant in Riverton, Kansas.

Market Segmentation:

By Technology:
o Thermochemical
o Sensible Heat
o Latent Heat

By Application:
o District Heating & Cooling
o Process Heating & cooling
o Power Generation

By Storage Material:
o Molten Salt
o Water
o Phase Change Material
o Others

By End-User:
o Industrial
o Commercial
o Residential
o Utility

By Region:

North America
o By Country (US, Canada, Mexico)
o By Technology
o By Application
o By Storage Material
o By End-User

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Technology
o By Application
o By Storage Material
o By End-User

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Technology
o By Application
o By Storage Material
o By End-User

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Technology
o By Application
o By Storage Material
o By End-User

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Technology
o By Application
o By Storage Material
o By End-User

Rest of the World
o By Region (South America, Africa)
o By Technology
o By Application
o By Storage Material
o By End-User

Reasons To Buy This Report:

o Market size estimation of the global thermal energy storage market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

o By Segment
o By Sub-segment
o By Region/Country

Contact:

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Office No- A109
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