In a recent market research report concerning the
global thermal energy storage market Transparency Market Research
zeroes in on the area of latent heat storage as the one with the most
lucrative growth opportunities. The report states that the global
market will exhibit an exponential 16.70% CAGR from 2014 through 2020
and rise to a valuation of US$1.8 bn by 2020, from US$0.6 bn in
2013.The report is titled “Thermal Energy Storage Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 -
2020” and is available for sale on the company’s website.
Thermal energy storage technologies refer to the
various ways of storing thermal energy for later use as required,
rather than at the time of the production of the energy. These
technologies are therefore central to various intermittent renewable
energy generation methods. Thermal energy storage also provides an
effective way of making sustained use of utilizing energy that is
commonly wasted in several processes and reducing the energy demands
of a facility.
This 122 page report gives readers a
comprehensive overview of the Thermal Energy Storage market. Browse
through 27 data tables and 34 figures to unlock the hidden
opportunities in this market@
The need for reducing greenhouse gas emissions and
introducing mixed energy sources in the overall energy mix of local,
regional, and global utilities is dramatically changing the global
power generation and distribution scenario. This has prompted
researchers and power generation companies in looking for ways of
effectively storing energy coming from a variety of sources.
The report provides a clean and comprehensive
picture of the major thermal energy storage technologies available at
present, their applicability, and their actual use in present-day
power generation and distribution networks.
For examining the market in a better manner, the
market has been examined from the perspective of three broad
criteria: thermal energy storage technology, end use, and geography.
On the basis of technology, the market is
segmented into sensible heat, thermochemical heat, and latent heat.
Sensible heat technology, which is the most commonly used thermal
energy storage technology, is projected to be the leading market
segment over the report’s forecast period. However, the high energy
density of latent heat technology has led to an increase in the focus
on the technology. Thus, the segment of latent heat technology is
projected to expand at a significant pace over the forecast period.
On the basis of end-users, the market has been
segmented into utilities, commercial and industrial, and residential.
The commercial and industrial sector dominated the market in 2013
owing to the exponential rise in the demand for an effective backup
power supply. Nevertheless, the residential sector holds immense
growth potential owing to the increased installation of renewable
energy production mechanisms in households.
Get accurate market forecast and analysis on
the Thermal Energy Storage market. Request a sample to stay abreast
on the key trends impacting this market@
From a geographical standpoint, the market has
been segmented into Europe, North America, Asia Pacific, and Rest of
the World (RoW). Europe held the dominant position in the global
thermal energy storage market in 2013 in terms of the total
installation capacity.
Some of the major companies operating in the
global thermal energy storage market profiled in the report are TAS
Energy, Steffes Corporation, Ice Lings, Goss Engineering, Inc., FAFCO
Thermal Storage Systems, EVAPCO, Inc., Chicago Bridge & Iron
Company (CB&I), CALMAC, Caldwell Energy, Burns & McDonnell,
BrightSource Energy, Inc., Baltimore Aircoil Company, and Abengoa
Solar, S.A.
The market has been segmented as:
Global Thermal Energy Storage Market:
Technology Segment
- Sensible Heat
- Latent Heat
- Thermochemical Heat
Global Thermal Energy Storage Market: End
Use Segment
- Commercial and Industrial
- Utilities
- Residential
Global Thermal Energy Storage Market:
Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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