Energy & Environment Industry Today
Thermal Energy Storage Market Global Trends, Size, Share, Growth and Forecast 2016 to 2022
Global Thermal Energy Storage Market Information by Technology (sensible heat, latent heat and thermochemical heat), by End use (commercial & industrial, utilities, residential) and Region - Forecast to 2022
Published 15 February 2018
Market Highlights
Thermal energy technologies minimize energy consumption resulting an increase in energy through the utilization of renewable sources. Sources of thermal energy include heat pumps, peak shaving, heat generated by power plants and heat from wastes.
Thermal energy storage provides an effective way of utilizing the energy that is otherwise wasted in several processes and is also becoming important for saving and conservation of electricity. The need for reducing greenhouse gas emissions and introducing mixed energy sources in global utilities changes the global power generation and distribution scenario. Moreover, features such as lower capital costs as compared to other storage technologies as well as very high operating efficiency helps to boost the thermal energy storage market. The need for a sustainable energy solution for daily needs has fueled the demand for thermal energy storage systems globally. As per the study conducted by Market Research Future, the global market for thermal energy storage is likely to grow at the CAGR of around 10.03%.
Thermal Energy Storage Market - Competitive Analysis
The global market for thermal energy storage seems to be highly competitive. All the major players have achieved forward integration by establishing their presence in the distribution and manufacturing sector. The distribution step in the value chain consists of stations & plants, combined heat power (CHP) plants, micro grids, cogeneration, district heating & cooling, process cooling. Service providers offer thermal energy storage services for end-use applications. The various applications catered to the prominent companies in the thermal energy storage market.
Prominent Players
Caledonian MacBrayne and CalMac (U.K.), DN Tanks, Inc. (U.S.), Ice Energy Holdings, Inc. (U.S.), Steffes Corporation (U.S.), Burns & McDonnell (U.S.), Fafco, Inc (U.S) and Abengoa Solar (Spain) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Thermal Energy Storage Market.
Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/2401
Industry News
In January, 2018 – Microsoft Highlights Steffes’ Mission to Revolutionize Renewable Energy Storage. Microsoft visited Dickinson facility in October to talk about Steffes’ ongoing mission to revolutionize how renewable energy is utilized through grid interactive storage
.
In November, 2017 – Trane, a leading global provider of indoor comfort systems and services and a brand of Ingersoll Rand, announced that it has acquired CALMAC Corp., a privately held company specializing in cool energy technologies including IceBank storage tanks.
In June, 2017 – Ice Energy, the leading provider of distributed thermal energy storage solutions, announced that its Ice Bear 20 home cooling and energy storage system has achieved a Seasonal Energy Efficiency Ratio (SEER) of 14.56 when operating like a conventional AC unit, and when operating in its ice cooling mode using stored ice, an unprecedented Energy Efficiency Ratio (EER) of 150.
Market Research Analysis:
The Europe is dominating the market of thermal energy storage. High investments and growing demand for thermal energy storage are some of the factor which drives the demand for thermal energy storage market. The need for reducing greenhouse gas emissions and introducing mixed energy sources in global utilities changes the scenario for the global market. Moreover, molten salt thermal energy storage market is growing fast due to the high reliability, high performance, and optimized cost of these systems. Thermal storage companies tend to offer their technologies as an important part of the project for new construction of buildings or as part of a major retrofit project that will replace or expand an existing cooling system. Such solutions can be implemented in buildings, towns and districts.
Browse full report @ https://www.marketresearchfuture.com/reports/thermal-energy-storage-market-2401
Europe to be the largest market
Europe is projected to dominate the thermal energy storage market. Higher investments on solar energy as well as the lower costs of power generation are some of the factors driving the market in Europe region. Moreover, Europe is also showing great potential for replacement of fossil fuels with utilization of waste heat. Recently, newer developments like seasonal thermal storage and molten salt thermal storage have allowed for the storage of energy during summer as well as in winters.
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.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
Thermal energy technologies minimize energy consumption resulting an increase in energy through the utilization of renewable sources. Sources of thermal energy include heat pumps, peak shaving, heat generated by power plants and heat from wastes.
Thermal energy storage provides an effective way of utilizing the energy that is otherwise wasted in several processes and is also becoming important for saving and conservation of electricity. The need for reducing greenhouse gas emissions and introducing mixed energy sources in global utilities changes the global power generation and distribution scenario. Moreover, features such as lower capital costs as compared to other storage technologies as well as very high operating efficiency helps to boost the thermal energy storage market. The need for a sustainable energy solution for daily needs has fueled the demand for thermal energy storage systems globally. As per the study conducted by Market Research Future, the global market for thermal energy storage is likely to grow at the CAGR of around 10.03%.
Thermal Energy Storage Market - Competitive Analysis
The global market for thermal energy storage seems to be highly competitive. All the major players have achieved forward integration by establishing their presence in the distribution and manufacturing sector. The distribution step in the value chain consists of stations & plants, combined heat power (CHP) plants, micro grids, cogeneration, district heating & cooling, process cooling. Service providers offer thermal energy storage services for end-use applications. The various applications catered to the prominent companies in the thermal energy storage market.
Prominent Players
Caledonian MacBrayne and CalMac (U.K.), DN Tanks, Inc. (U.S.), Ice Energy Holdings, Inc. (U.S.), Steffes Corporation (U.S.), Burns & McDonnell (U.S.), Fafco, Inc (U.S) and Abengoa Solar (Spain) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Thermal Energy Storage Market.
Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/2401
Industry News
In January, 2018 – Microsoft Highlights Steffes’ Mission to Revolutionize Renewable Energy Storage. Microsoft visited Dickinson facility in October to talk about Steffes’ ongoing mission to revolutionize how renewable energy is utilized through grid interactive storage
.
In November, 2017 – Trane, a leading global provider of indoor comfort systems and services and a brand of Ingersoll Rand, announced that it has acquired CALMAC Corp., a privately held company specializing in cool energy technologies including IceBank storage tanks.
In June, 2017 – Ice Energy, the leading provider of distributed thermal energy storage solutions, announced that its Ice Bear 20 home cooling and energy storage system has achieved a Seasonal Energy Efficiency Ratio (SEER) of 14.56 when operating like a conventional AC unit, and when operating in its ice cooling mode using stored ice, an unprecedented Energy Efficiency Ratio (EER) of 150.
Market Research Analysis:
The Europe is dominating the market of thermal energy storage. High investments and growing demand for thermal energy storage are some of the factor which drives the demand for thermal energy storage market. The need for reducing greenhouse gas emissions and introducing mixed energy sources in global utilities changes the scenario for the global market. Moreover, molten salt thermal energy storage market is growing fast due to the high reliability, high performance, and optimized cost of these systems. Thermal storage companies tend to offer their technologies as an important part of the project for new construction of buildings or as part of a major retrofit project that will replace or expand an existing cooling system. Such solutions can be implemented in buildings, towns and districts.
Browse full report @ https://www.marketresearchfuture.com/reports/thermal-energy-storage-market-2401
Europe to be the largest market
Europe is projected to dominate the thermal energy storage market. Higher investments on solar energy as well as the lower costs of power generation are some of the factors driving the market in Europe region. Moreover, Europe is also showing great potential for replacement of fossil fuels with utilization of waste heat. Recently, newer developments like seasonal thermal storage and molten salt thermal storage have allowed for the storage of energy during summer as well as in winters.
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.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
Share on Social Media
Other Industry News
Ready to start publishing
Sign Up today!
