Thermal Energy Storage Market Update, Business Statistics and Research Methodology by Forecast to 2023

The global thermal energy storage market was valued at $3,988 million in 2016 growing at a CAGR of 10.9% from 2017 to 2023 to reach $8,862 million by 2023. Thermal energy storage systems make the use of standard cooling & energy storage equipment to store thermal energy for later use. These systems are widely adopted to store solar energy for space heating during winter and stock cold winter air for air conditioning purposes during summer. Thermal energy storage helps to balance the supply & demand for energy on daily, weekly, & seasonal bases. Moreover, it provides several benefits such as reduced energy consumption, increased flexibility of operations, and reduced initial & maintenance cost. The major sources for thermal energy storage include heat pumps and heat generated by power plants & waste.

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These storage systems reduce the demand for energy during peak hours, lower the carbon dioxide emissions, and decrease the energy consumption of end consumers. It is widely employed in thermal power plants, solar power plants to supply dispatchable power even during night, and to utilize heat in process industries.

In 2016, North America dominated the global thermal energy storage market, owing to the high energy storage capacity and increase in penetration of thermal storage specifically in the U.S. In addition, rapid penetration of renewable energy has changed the energy landscape in this region. U.S. was the leading country in the North America thermal energy storage market, followed by Canada. The market is driven by shift to renewable sources of energy and demand for continuous power supply.

Some of the key players of Thermal Energy Storage Market:

Calmac,Abengoa Solar,Caldwell Energy,Baltimore Aircoil Company Inc.,Chicago Bridge & Iron Company,BrightSource Energy Inc.,DC Pro Engineering LLC.,Burns & McDonnell,Evapco Inc.,DN Tanks

The Global Thermal Energy Storage Market research report offers an in-depth analysis of the global market, providing relevant information for the new market entrants or well-established players. Some of the key strategies employed by leading key players operating in the market and their impact analysis have been included in this research report.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Thermal Energy Storage market based on product and application. It also provides market size and forecast till 2023 for overall Thermal Energy Storage market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments.

Fundamentals of Table of Content:

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Thermal Energy Storage Market Size
2.2 Thermal Energy Storage Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Thermal Energy Storage Market Size by Manufacturers
3.2 Thermal Energy Storage Key Players Head office and Area Served
3.3 Key Players Thermal Energy Storage Product/Solution/Service
3.4 Date of Enter into Thermal Energy Storage Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Thermal Energy Storage Sales by Product
4.2 Global Thermal Energy Storage Revenue by Product
4.3 Thermal Energy Storage Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Thermal Energy Storage Breakdown Data by End User

Sameer Joshi
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