Global thermal energy storage marketPosted by ashwini on February 4th, 2021 Global thermal energy storage market was valued at USD 4.09 Bn in 2019, and it is expected to reach a value of USD XX Bn by 2027 at a CAGR ofX %, during the forecast.
Report segmented market by Technology, by Storage material, by Application, by region. Based on technology is divided into Sensible, Latent, & TCS. Storage material classified into Water, Molten salt, Phase Change Material (PCM).based on application divided into Power Generation, District Heating & Cooling, and Process Heating & Cooling. Region wise the market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Increasing adoption of the renewable energy resources is the major factor driving the thermal energy storage market. The utilities, commercial, industrial, and residential sectors have emerged as the key end users of thermal energy storage solutions across the world. Thermal energy storage has become a reliable source of energy, resulting in multiple installations in major cities of the world. Increasing demand for thermal energy storage systems in HVAC. Government incentives for thermal energy storage systems. The retrain of thermal energy storage is high grid interconnection barriers & lack of the technical expertise. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. Based on technology, Sensible thermal energy storage market is set to witness growth to wide applicability across residential establishments coupled with increasing demand for solar thermal systems. Longer thermal storage period and effective energy utilization are some of the key features which will propel the product penetration. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. On the basis of storage material, molten salt is expected to hold the largest market share of the thermal energy storage market, during the forecast period. Molten salts have high boiling points, low viscosity, low vapor pressure, and high volumetric heat capacities. A higher heat capacity corresponds to a smaller storage tank volume. Molten salt can function as a large-scale thermal storage method that would allow other energy sources, such as solar, to become more feasible by smoothing out the fluctuations in demand and weather. In terms of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, Latin America. The Middle East & Africa is expected to be the largest market for thermal energy storage, with South Africa being the biggest market in the region. Estimated to dominate the global market during the forecast period, as they are best suited for CSP plants integrated with molten salt based thermal energy storage. Key players operated to Abengoa Solar, Brightsource Energy, Solarreserve, Baltimore Aircoil, Caldwell Energy, Burns & Mcdonnell, Calmac, Cristopia Energy Systems, Cryogel,Dc Pro Engineering,Dunham-Bush,Goss Engineering,Ice Energy, Natgun, Steffes, Tas Energy, Evapco, Fafco, Icelings, Sunwell Technologies, Qcoefficient, Finetex EnE, Chicago Bridge & Iron. The objective of the report is to present comprehensive analysis of Thermal Energy Storage Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Thermal Energy Storage Market dynamics, structure by analyzing the market segments, and project the Thermal Energy Storage Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Thermal Energy Storage Market make the report investor’s guide. Thermal Energy Storage Market, by Technology • Sensible • Water • Power Generation • North America • Abengoa Solar For More Information Visit @: https://www.maximizemarketresearch.com/market-report/global-thermal-energy-storage-market/15053/ This Report Is Submitted By :Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
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