openPR Logo
Press release

Molten Salt Thermal Energy Storage (TES) Market - Global Industry Analysis Forecast 2015 - 2023

12-20-2016 11:27 AM CET | Energy & Environment

Press release from: Transparency Market Research

Molten Salt Thermal Energy Storage (TES) Market - Global

The global market for molten salt thermal energy storage is exceptionally fragmented in nature and is expected to witness stiff competition throughout the forecast period, states a research study by Transparency Market Research (TMR). The leading players, such as Siemens AG, Acciona S.A., Pratt and Whitney Rocktdyne, Inc., SCHOTT AG, AREVA, BrightSource Energy, Inc., and Abengoa Solar S.A are currently dominating the overall market and are projected to collectively account for a key share of the market. At present, the global molten salt thermal energy storage market is at a nascent stage and hold immense growth potential throughout the forecast period. The rising number of mergers and acquisitions and the growing focus on research and development activities are estimated to contribute towards the development of the market.

As per the research study by TMR, the global market for molten salt thermal storage is estimated to reach a value of US$480.5 mn by the end of 2023. The market is likely to register a remarkable 24.70% CAGR between 2015 and 2023.

View exclusive Global strategic Business report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6478

Middle East and Africa to Lead in Global Molten Salt Thermal Storage Market

From a geographical perspective, Europe led the global market in the last few years; however, this region is expected to lose its share throughout the forecast period. The Middle East and Africa is projected to lead the global molten salt thermal energy storage market throughout the forecast period. This region is estimated to account for a share of 30.7% of the overall market by the end of 2023. The rising desire to access reliable, efficient, and price competitive electricity is one of the primary factors anticipated to encourage the growth of this region in the next few years.

Asia Pacific is expected to witness substantial growth in the near future, thanks to the growing focus of key players on research and development activities and innovations. Moreover, the rising demand for molten salt thermal energy storage is likely to increase in the next few years, thanks to the large-scale projects for planned concentrated solar power plant in this region. The expansion of application base is another factor anticipated to encourage the growth of the overall market in the coming years.

Technological Developments and Innovations to Bolster Global Market

A significant growth in variable renewable energy is accepted to drive the demand for innovative molten salt thermal energy storage technologies is one of the key factors anticipated to fuel the growth of the overall market in the next few years. In addition, the deferral of transmission and frequent distribution upgrades through the deployment of these technologies are expected to accelerate the growth of the global molten salt thermal energy storage market in the coming years.

Furthermore, the de-carbonization of the power sector in the center of a rising power consumption is projected to help in accomplishing the VRE combined with advanced molten salt thermal energy storage. This factor is likely to supplement the growth of the market in the coming years.

Requirement of High Upfront Investment to Curtail Market Growth

The global market for molten salt thermal energy storage, on the other hand, is expected to witness several advantages throughout the forecast period. The high upfront investment required to set up an energy storage systems is one of the primary factors estimated to restrict the growth of the global molten salt thermal energy storage market in the next few years. Nevertheless, the increasing adoption of VREs, such as wind and solar is estimated to generate promising opportunities throughout the forecast period.

Complete Report with TOC : http://www.transparencymarketresearch.com/molten-salt-thermal-energy-storage-market.html

This information is based on the findings of a report published by Transparency Market Research (TMR), titled “Molten Salt Thermal Energy Storage (TES) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

90 Sate Street, Suite 700
Albany, NY 12207

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Molten Salt Thermal Energy Storage (TES) Market - Global Industry Analysis Forecast 2015 - 2023 here

News-ID: 399029 • Views: 351

More Releases from Transparency Market Research

Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals

All 5 Releases


More Releases for TMR

TMR Research
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
TMR
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158 Monolithic ceramics are
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
Subsea Boosting Systems Market Analysis : TMR
Due to a limited number of manufacturers of subsea boosting systems, the degree of competition in the global subsea boosting systems market is expected to substantially increase, reports Transparency Market Research (TMR) in a new study. The leading manufacturers of subsea boosting systems are focusing on pricing strategies to attract consumers and maintain their leading position in the industry. The top three companies, FMC Technologies, OneSubsea, and GE Oil &
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the