Description
The
global thermal energy storage market is expected to reach USD 12.50 billion by
2025, according to a new report by Grand View Research, Inc. Increasing demand
for access to efficient and cost competitive energy sources is expected to
favor market growth.
Request Sample Copy of Report- https://www.radiantinsights.com/research/thermal-energy-storage-market/request-sample?utm_source=Pr&utm_campaign=Nikkhhil
Thermal
energy storage is considered to be the primary renewable option for electricity
generation. Heat stored by short term and seasonal thermal energy storage
systems are extremely helpful in balancing the variations in renewable
electricity production & distribution, in a cost effective manner. It
causes no adverse impact on the environment and is a sustainable source of
energy.
The
renewable energy demand has increased from various countries including, the
U.S., South Africa, Saudi Arabia, Brazil, China, and India. The governments of
these countries are trying to derive solutions & technologies to store the
generated energy from renewable sources such as tides, wind, biomass, and sun.
The rising demand from these regions coupled with the novel product development
by industry participants is expected to drive market growth over the forecast
period.
A
large number of energy storage equipment manufacturers & service providers
are involved in the adoption of various strategies such as new product developments,
partnerships, agreements, collaborations, and joint ventures in order to
increase market penetration and cater to the changing technological
requirements of different end-use applications in the region.
Further
key findings from the report suggest:
•
In terms of technology, molten salt technology is expected to follow an
anticipated CAGR of 16.4% over the next eight years
•
Molten salt technology is utilized to store the heat collected by means of
solar troughs and solar towers. The growing awareness regarding the technology
is expected to benefit the segment demand
•
Asia Pacific is expected to witness the highest growth over the forecast
period. Rising demand from countries such as China and India and government
initiatives are expected to benefit the demand in the region
•
The global thermal energy storage demand in power generation application was
USD 0.57 billion in 2016 and is anticipated to witness the fastest growth over
the next eight years
View Full Report at- https://www.radiantinsights.com/research/thermal-energy-storage-market?utm_source=Pr&utm_campaign=Nikkhhil
•
The U.S. market was valued at USD 0.52 billion and is estimated to reach USD
2.32 billion by 2025
•
The Middle East & Africa region is anticipated to witness high growth at a
CAGR of 15.7% by 2025. The MEA region has a number of concentrating solar power
(CSP) projects which include thermal energy storage installed in countries such
as United Arab Emirates (UAE), Saudi Arabia and Morocco
•
Key players of the industry include Chicago Bridge & Iron Company N.V.
(CB&I), Abengoa Solar S.A., Ice Energy, Evapco, Inc., and Dunham-Bush
Holding Bhd. These major players are investing in R&D activities to enhance
their product portfolio and thus increase their geographical presence
About Us
Radiant
Insights is a market research and consulting company offering syndicated
research studies, customized reports, and consulting services. Our market
research studies are designed to facilitate strategic decision making, on the
basis of extensive and in-depth quantitative information, supported by
extensive analysis and industry insights. Using a patented and robust research
methodology, we publish exhaustive research reports covering a host of
industries such as Technology, Chemicals, Materials, and Energy. Radiant
Insights has a strong base of analysts, consultants and domain experts, with
global experience helping us deliver excellence in all research projects we
undertake
Contact Us
Michelle
Thoras
Corporate
Sales Specialist, USA
Radiant
Insights, Inc
201
Spear Street 1100, Suite 3036, San Francisco, CA 94105, United States
Tel:
1-415-349-0054
Toll
Free: 1-888-928-9744
Mail:
sales@radiantinsights.com
No comments:
Post a Comment