Market Research Future report provides a comprehensive segmental analysis of the Thermal Energy Storage Market on the basis of Technology and End-Use.
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Market Analysis
The Global Thermal Energy Storage Market is evolving at a rapid pace and anticipated to touch USD XX Billion at a notable XX% CAGR during the forecast period (2017-2022). At present, thermal storage holds the second largest position in the storage market. Also called heat storage, TES (thermal energy storage) is a highly efficient and simple method to transfer energy sans chemical conversion. TES is a highly feasible environment friendly energy saving method. Being a highly reliable energy source, multiple installations of TES are taking place all across the world. With the smart city trend gaining immense popularity, reliance on energy that is fuel based is likely to be eliminated. This trend has various technological barriers which also includes distribution of energy. In fact, the requirement for peak load electricity demand is likely to result in the acceptance of TES systems. The distributed energy storage technologies that are utilizing TES is being used for distribution lines and utility grids in the smart cities. The real perks of installing TES include enhanced efficiency of energy systems, reduction in CO2 emissions and lowering of power consumption.
There are many factors that can be linked to the growth of thermal energy storage market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include increasing need for uninterrupted power supply, favorable initiatives taken by the government towards power generation that is renewable energy-based, increasing demand for HVAC (Heating, Ventilation and Air Conditioning) systems, and ongoing investments for development of infrastructure. On the flip side, the factors that may hinder the growth of the thermal energy storage market include lack of awareness regarding storage technology, extra expenditure related with the utilization of TES system and requirement for skilled technicians for upholding the system.
Competitive Analysis
The global thermal energy storage market is a highly competitive one. The key players have attained forward integration via making their existence in the manufacturing and distribution sector. In fact, the distribution step especially in the value chain comprises of process cooling, district heating and cooling, cogeneration, micro grids, CHP (combined heat power) plants and stations and plants.
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Swiss Symposium Thermal Energy Storage is scheduled to take place on 25th January, 2019 in Lucerne, Switzerland. It aims at anyone that views the potential in TES systems or desire in gaining a detailed insight in the technological possibilities related to it. This symposium will regard TES systems against a huge background of applications thereby opening new rooms for the discussion of new solutions. The symposium’s goal is in developing lively and interactive dialogues amid industry representatives as well as research in the sectors of building technology, industry and energy to collaborately promote thermal energy storage advancements in Europe and Switzerland.
Key Players
Leading players profiled in the thermal energy storage market include
• Abengoa Solar (Spain)
• Fafco, Inc (U.S)
• Burns & McDonnell (U.S.)
• Steffes Corporation (U.S.)
• Ice Energy Holdings, Inc. (U.S.)
• DN Tanks, Inc. (U.S.)
• CalMac (U.K.)
• Caledonian MacBrayne
Market Segmentation
Market Research Future report provides a comprehensive segmental analysis of the Thermal Energy Storage Market on the basis of Technology and End-Use.
Based on Technology : Latent heat, Sensible heat and Thermochemical heat.
Based on End-Use : Utilities, Residential and Commercial and Industrial.
Regional Analysis
Based on region, the thermal energy storage market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, Europe is expected to rule the market owing to huge investments made on solar energy. Government authorities too are trying in balancing generation of power amid low and high load hours. The minimal expenditure of power generation is expected to drive the thermal energy storage market. Moreover, in this region, strong emphasis is being laid on initiatives on energy efficiency along with increasing levels of generating renewable energy. On the other hand, the unwillingness of shifting from traditional storage methods acts as a hindrance for the market growth in Europe. In North America, TES is widely used especially in the commercial sector while the APAC region is anticipated to grow largely over the forecast period owing to the increased energy usage and growing population.
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Company Information
• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies
Target Audience
• Manufactures
• Raw Materials Suppliers
• Aftermarket suppliers
• Research Institute / Education Institute
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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