Thermal Energy Storage Market Analysis, Top Companies, New Technology, Demand and Opportunity

-

 The global thermal energy storage market is currently witnessing strong growth. Looking forward, IMARC Group expects the market to register a CAGR of 9.5% during 2020-2025. Thermal energy storage stands for a power storage solution that transfers and retains energy obtained from ice, cold air, water, etc. It is based on miscibility gap alloy technology (MGA) using molten salt and ice. The system stores hot or cold energy to power electrical systems installed in commercial and residential complexes. Thermal energy storage is also used for storing solar energy during summers, which can be later consumed in winters. As a result, the storage systems aid in reducing the high-power demand from the conventional grid systems.

Request for a free sample copy of this report: https://www.imarcgroup.com/thermal-energy-storage-market/requestsample

The growing awareness towards energy conservation, coupled with the rising adoption of renewable energy sources, is catalyzing the demand for thermal energy storage. Moreover, the integration of concentrated solar power (CSP) with thermal energy storage system enhances grid flexibility and reduces efficiency losses. Thermal energy storage systems are widely employed in heating, ventilation, and air conditioning (HVAC) technology for large-scale heating and cooling. The rapid installation of these systems in green buildings is further fueling the market growth. Moreover, the implementation of favorable government initiatives to encourage sustainable infrastructural development is further anticipated to propel the thermal energy storage market.

Explore full report with table of contents: https://www.imarcgroup.com/thermal-energy-storage-market

Breakup by Storage Type:

  • Sensible Heat Storage
  • Latent Heat Storage
  • Thermochemical Heat Storage

Breakup by Technology:

  • Molten Salt Technology
  • Electric Thermal Storage Heaters
  • Solar Energy Storage
  • Ice-Based Technology
  • Miscibility Gap Alloy Technology (MGA)
  • Others

Breakup by Material Type:

  • Water
  • Molten Salt
  • Phase Change Materials (PCM)
  • Others

Breakup by Application:

  • Power Generation
  • District Heating and Cooling
  • Process Heating and Cooling

Breakup by End-Use:

  • Residential and Commercial Sector
  • Utility Industry
  • Other Industries

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


​Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Abengoa Solar S.A., Baltimore Aircoil Company Inc., Brightsource Energy Inc., Burns & McDonnell Inc., Chicago Bridge & Iron Company, DC Pro Engineering, Fafco Inc., Ice Energy Technologies Inc., Solarreserve LLC, Steffes Corporation, Terrafore Technologies LLC, etc.

Browse Related Report

https://www.imarcgroup.com/busbar-market

https://www.imarcgroup.com/shunt-reactor-market

Contact US: IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Location: United States

Comments

Post a Comment

Popular posts from this blog

$1197 Billion Global Advertising Market Size to Expand at a CAGR of 9% during 2019-2023

-
Advertising is a form of mass media communication which helps in endorsing a product, service or idea. It enhances the consumers’ awareness regarding the new product launches and assists them in their purchasing decisions. Some of the traditional mass media communication sources are newspapers, television, radio and magazines, while contemporary advertising means include social media, blogs, websites, text messages, etc. A new research report by IMARC Group, titled  “Global Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” , estimates that the market was approximately US$ 734 Billion in 2017. The report further anticipates the market to cross US$ 1197 Billion by 2023, at a projected CAGR of nearly 9% over the forecast period. Request for a free sample copy of this report:   https://www.imarcgroup.com/global-advertising-market/requestsample Market Drivers/Constraints: Over the years, consumers’ expenditure on entertainment as well as media
Read more

Xylitol Market to Reach US$ 1,225 Million by 2025 , Industry Overview, Growth Rate and Forecast

-
As per the latest report by IMARC Group, titled “ Xylitol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025 ”, the  global  xylitol market   size  reached US$ 875 Million in 2019. Xylitol is a sugar alcohol with a crystalline and granular structure and sweetness, which is comparable to sucrose. Also known as wood sugar, it is derived from xylose that occurs naturally in various fruits and vegetables. On a commercial scale, xylitol can be produced by chemical and biotechnological processes. With the rising health-consciousness, consumers are willing to spend more on natural sweeteners, such as xylitol, as it has around 75% fewer carbohydrates and 40% lesser calories as compared to table sugar. Request for a free sample copy of this report:  https://www.imarcgroup.com/xylitol-market/requestsample Global Xylitol Market Trends: Xylitol finds applications in numerous industries ranging from food and beverage (F&B), pharmaceutical, cosmetics
Read more

OpenStack Service Market Research Report 2019, Industry Trends, Share, Size, Demand and Future Scope

-
 According to the IMARC Group,  OpenStack  refers to an open-source platform that enables users to freely access, modify, and share the source code. It is a form of Infrastructure-as-a-service (IaaS) that facilitates communication and storage between the computer hardware and the cloud. OpenStack includes various computing services, consisting of object and block storages, networking and shared file systems, etc. These services are used for web hosting, conducting big data projects, delivering software-as-a-Service (SaaS), and effectively utilizing resources through a web interface. Request for a free sample copy of this report:  https://www.imarcgroup.com/openstack-service-market/requestsample The rising adoption of cloud-based and internet-enabled services is driving the  OpenStack service market . In recent times, OpenStack has emerged as a cost-efficient service that fortifies virtual computing infrastructure, thereby enabling the customized modification of hardware and software co
Read more