Thermal Energy Storage Market Scope of the Report:
The worldwide market for Thermal Energy Storage is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2025, from xx million US$ in 2019, according to a new study.
This report focuses on the Thermal Energy Storage in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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Thermal Energy Storage Market Segment by Manufacturers, this report covers
key drivers for the global thermal energy storage market in the recent past. While the use of renewable sources of energy has picked up steam in recent years, the renewable energy sector faces a considerable problem in the lack of consistent energy production from renewable energy sources. Thermal energy storage has been mooted as a solution in this regard and is likely to become a key part of the global renewable energy market in the coming years.
Global Thermal Energy Storage Market: Key Trends
The rising use of combined energy generation units, wherein energy is harnessed from two or more renewable sources simultaneously, is a prime driver for the global thermal energy storage market. Solar and wind energy generation can usually be conducted on the same site and often on the same device. However, both solar and wind energy suffer from the lack of a reliable energy storage mechanism, as both energy sources are available infrequently. A rising number of residential as well as commercial consumers, particularly in developed countries, have started to install combined energy generation systems on their own land, which is likely to drive the demand for thermal energy storage systems in the coming years.
Utilities distributors are also playing an important role in the development of the global thermal energy storage market. While the use of smart grids will help distributors provide utilities uniformly, the installation of thermal energy storage can help further smoothen the process.
On the other hand, despite the steady rise in the demand from the thermal energy storage market, the high cost of thermal energy storage technology is likely to hamper the growth of the market to some extent. Despite the rising demand for thermal energy storage technologies from the utilities sector, the thermal energy storage industry needs to achieve parity with other non-storage options.
Global Thermal Energy Storage Market: Market Potential
Due to the high costs of developing and installing thermal energy storage systems, the market needs government support to enable widespread adoption. Developed countries such as the U.S. are likely to be at the forefront, with Maryland becoming the first American state to incentivize the use of energy storage with tax credits. The bill was passed in April 2017 and could be the first step in establishing a well-maintained and efficient power storage and distribution infrastructure that takes into account the variety of energy sources used in a modern economy.
Global Thermal Energy Storage Market: Geographical Dynamics
The global thermal energy storage market is expected to be dominated by the Middle East and Africa (MEA) in the coming years, as the region receives abundant solar power and is also home to a power-intensive industrial sector. Europe and Asia Pacific could also play key roles in the growth of the global thermal energy storage market in the coming years due to the rising emphasis on solar power in both regions.
Global Thermal Energy Storage Market: Competitive Dynamics
The report also discusses the competitive landscape of the global thermal energy storage market in detail by profiling the leading players operating in it. The key companies examined in the report include Ice Energy, Calmac, SolarReserve LLC, and Abengoa Solar.
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Reasons to Purchase this Thermal Energy Storage Market Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
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The Thermal Energy Storage Market report has 150 tables and figures browse the report description and TOC:
Table of Contents
1 Study Coverage
1.1 Thermal Energy Storage Product
1.2 Key Market Segments in This Study
1.3 Key Manufacturers Covered
1.4 Market by Type
1.4.1 Global Thermal Energy Storage Market Size Growth Rate by Type
1.5 Market by Application
1.5.1 Global Thermal Energy Storage Market Size Growth Rate by Application
2 Executive Summary
2.1 Global Thermal Energy Storage Market Size
2.1.1 Global Thermal Energy Storage Revenue 2014-2025
2.1.2 Global Thermal Energy Storage Production 2014-2025
2.2 Thermal Energy Storage Growth Rate (CAGR) 2019-2025
2.3 Analysis of Competitive Landscape
2.3.1 Manufacturers Market Concentration Ratio (CR5 and HHI)
2.3.2 Key Thermal Energy Storage Manufacturers
18.104.22.168 Thermal Energy Storage Manufacturing Base Distribution, Headquarters
22.214.171.124 Manufacturers Thermal Energy Storage Product Offered
126.96.36.199 Date of Manufacturers Enter into Thermal Energy Storage Market
2.4 Key Trends for Thermal Energy Storage Markets & Products
3 Market Size by Manufacturers
3.1 Thermal Energy Storage Production by Manufacturers
3.1.1 Thermal Energy Storage Production by Manufacturers
3.1.2 Thermal Energy Storage Production Market Share by Manufacturers
3.2 Thermal Energy Storage Revenue by Manufacturers
3.2.1 Thermal Energy Storage Revenue by Manufacturers (2019-2025)
3.2.2 Thermal Energy Storage Revenue Share by Manufacturers (2019-2025)
3.3 Thermal Energy Storage Price by Manufacturers
3.4 Mergers & Acquisitions, Expansion Plans
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