Press release
Thermal Energy Storage Market Demand, Trends and Competitive Landscape Forecast 2021-2031
Thermal energy storage (TES) systems can store heat or cold to be used later, under varying conditions such as temperature, place, or power. TES systems are divided into three types: sensible heat, latent heat, and thermochemical. Thermal energy storage systems are cost-effective compared to other storage technologies. In terms of environmental impact, thermal energy storage is a clean energy storage technology.
Thermal energy storage systems are generally used in small-scale applications for hot water and heating. They are also used in the field of electrical energy generation in large-scale applications. Thus, electricity generation is realized with the stored heat energy during periods of intense power demand. Thermal energy storage systems help meet short-term high load demands in quick time.
๐๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:ย https://www.transparencymarketresearch.com/thermal-energy-storage-market.html
Theย thermal energy storage marketย is expected to expand at a fast-paced CAGR ofย 16.3%ย during the forecast period from 2021 to 2031. In this context, the global thermal energy market was valued at US$ย 4.3ย Bn in 2020 and is expected to reach US$ย 22.6ย Bn by 2031.
Rising Awareness about Benefits of Thermal Energy Storage System Boosts Market Growth
TES systems can contribute significantly to meeting society's desire for more efficient and reliable energy storage system. The value-added renewable energy integration with TES systems offers vast potential for performing low energy design and opens a gateway toward the development of a sustainable future.
Concentrated solar power (CSP) and its integration with thermal energy storage is key to overcoming the intermittency of the solar resource. Hence, operation of solar thermal power can be extended beyond periods of no sunlight.
As the popularity of renewable energy increases, the need for energy storage is expected to rise. Thermal energy storage offers safe, reliable, and environmentally friendly operation. This is projected to boost the thermal energy storage market in the near future.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐:ย https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2101ย
The global thermal energy storage market seems to be fairly fragmented with the presence of many well-entrenched enterprises. This also highlights the presence of a highly intense competitive landscape. Calmac, Evapco, McDermott International Ltd, Goss Engineering Inc, Trane Technologies Inc, Brenmiller Energy, Siemens Gamesa Renewable Energy, Azelio, Abengoa Solar S.A., and BrightSource Energy Inc. are some of the key participants of the global thermal energy storage market.
Global Thermal Energy Storage Market: Segmentation
Thermal Energy Storage Market, by Technology
Sensible Heat
Latent Heat
Thermochemical Heat
๐๐๐ญ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ :ย https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2101ย
Thermal Energy Storage Market, by End-user
Commercial and Industrial
Utilities
Residential
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