Thermal energy storage provides an effective way of utilizing the energy that is otherwise wasted in several processes and is also becoming important for saving and conservation of electricity. The need for reducing greenhouse gas emissions and introducing mixed energy sources in global utilities changes the global power generation and distribution scenario. Moreover, features such as lower capital costs as compared to other storage technologies as well as very high operating efficiency helps to boost the Thermal Energy Storage Market. The need for a sustainable energy solution for daily needs has fueled the demand for thermal energy storage systems globally.
The report has analyzed the market based on technologies, end use and the regions of North America, Europe, APAC and ROW (rest of the world). On the basis of Technology it includes Sensible heat, Latent heat, and Thermochemical heat. Sensible heat storage is the most common method and has been employed for hundreds of years as hot water tanks. On the basis of end use, it is segmented as Commercial, Industrial, Utilities and Residential.
Scope of the report:-
This study provides an overview of the global Thermal energy storage industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global thermal energy storage market by Technology and End use. On the basis of technology it is segmented as Sensible heat, Latent heat and Thermochemical heat. On the basis of end use it is segmented as Commercial & Industrial, Utilities, and Residential.
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Industry Major Key Players:
The key players of global thermal energy storage market include Caledonian MacBrayne and CalMac (U.K.), DN Tanks, Inc. (U.S.), Ice Energy Holdings, Inc. (U.S.), Steffes Corporation (U.S.), Burns & McDonnell (U.S.), Fafco, Inc (U.S) and Abengoa Solar (Spain).
Major Points of TOC:-
1… Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3… Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4… Global Thermal Energy Storage Market, By Technology
4.1 Sensible Heat
4.2 Latent Heat
4.3 Thermochemical Heat
To be continued……
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Regional Analysis of Global Thermal Energy Storage Market :-
Europe is expected to remain the largest region due to the huge investments on solar energy. Moreover, government authorities are also trying to balance power generation between high load and low load hours. Lower costs of power generation will drive the market. Moreover, in the region there is strong emphasis on energy efficiency initiatives and rising levels of renewable energy generation. However, reluctance to shift from the traditional methods of storage act as barrier for the growth of the market in Europe.
Thermal energy storage has been widely used in the commercial sector in North America. While, Asia-Pacific Region is expected to grow significantly in the forecast period, owing to factors such as ever growing population and increased energy usage.