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Thermal Energy Storage Market Future Growth with Top Players | SolarReserve, TAS Energy, Abengoa Solar, Cryogel, Ice Energy, Tessol, Steffes Corporation, Baltimor Aircoil

05-13-2020 08:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Study Report LLC

Thermal Energy Storage Market

Thermal Energy Storage Market

The Thermal Energy Storage Market report, recently added by Market Study Report, LLC, examines the industry in terms of the global expanse, highlighting the present & future growth potential of each region as well as consolidated statistics. The study also presents a precise summary of the competitive milieu, key developments, and application landscape of the Thermal Energy Storage Market based on the impact of the financial and non-financial facades of the industry.

Thermal Energy Storage Market in 2017, was valued over USD 16 billion and is set to witness cumulative deployment of over 13,000 MW by 2024. Growing demand for Concentrated Solar Power (CSP) owing to fuel independency along with favorable government measures toward the adoption of renewable based power generation will drive the thermal energy storage market. In addition, rising demand for reliable and uninterrupted power supply coupled with the ongoing efforts for the improvement of energy efficiency will further complement the industry landscape.

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.

Request a sample of this premium report titled Thermal Energy Storage Market at https://www.marketstudyreport.com/request-a-sample/1358196?utm_source=openpr.com&utm_medium=Ram

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.

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).

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.

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.

Notable industry players in the thermal energy storage market comprise of SolarReserve, TAS Energy, Abengoa Solar, Cryogel, Ice Energy, Tessol, Steffes Corporation, Baltimor Aircoil Company, Burns & McDonnell, Fafco, Evapco, Caldwell Energy, Goss Engineering, DN Tanks and BrightSource Energy amongst others.

Request a discount on standard prices of this premium report titled Thermal Energy Storage Market at https://www.marketstudyreport.com/check-for-discount/1358196?utm_source=openpr.com&utm_medium=Ram

Report Content

Chapter 1 Methodology & Scope

1.1 Methodology

1.2 Market definitions

1.3 Market estimation & forecast parameters

1.4 Abbreviations

1.5 Data Sources

1.5.1 Primary

1.5.2 Secondary

1.5.2.1 Paid Sources

1.5.2.2 Public Sources

Chapter 2 Executive Summary

2.1 Thermal energy storage market 360 degree synopsis, 2013 - 2024

2.1.1 Business trends

2.1.2 Storage material trends

2.1.3 Technology trends

2.1.4 Application trends

2.1.5 End-use trends

2.1.6 Regional trends

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

Chapter 4 Thermal Energy Storage Market, By Storage Material

Chapter 5 Thermal Energy Storage Market, By Technology

Chapter 6 Thermal Energy Storage Market, By Application

Chapter 7 Thermal Energy Storage Market, By End-Use

Chapter 8 Thermal Energy Storage Market, By Region

Chapter 9 Company Profiles

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