Thermal Energy Storage market share research by applications and regions for 2018-2024

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Thermal Energy Storage market forecast to witness
phenomenal growth opportunities by 2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Overview of Thermal Energy Storage Market

• Eminent players in the thermal energy storage
  market comprise of Abengoa Solar, Araner,
  Baltimor Aircoil Company, EnergyNest, Highview
  Power Storage, Caldwell Energy Company, Burns
  McDonnell, BrightSource Energy, Ice Energy and
  Evapco among others.
• Thermal Energy Storage Market size is predicted
  to witness growth on account of rising impetus
  toward renewable energy generation coupled with
  ongoing industrialization. Increasing demand for
  cost-effective power supply along with expanding
  grid networks across the primary secondary
  distribution channels will augment the business
  growth.
• The U.S. thermal energy storage market share is
  projected to expand on account of positive
  consumer outlook toward the integration of power
  generation with renewable sources. In addition,
  ability to reduce peak energy usage along with
  the rising demand for reliable and continuous
  supply of power will positively influence the
  industry outlook.

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• Escalating electricity demand coupled with
  introduction of energy storage plans will foster
  the thermal energy storage market growth. In
  2018, EDF Energy announced to invest around USD
  10 billion toward energy storage by 2035. The
  investment is in line with the companys new
  Electricity Storage Plan (ESP) which may also
  double its Research Development (RD)
  investments.
• Funding toward the grid integration of large
  scale sustainable energy coupled with expansion
  of micro-grid networks will positively impact the
  thermal energy storage market. Government norms
  pertaining to renewable portfolio standards along
  with ongoing investments toward development of
  underground storage infrastructure will further
  complement the business landscape.
• Sensible thermal energy storage market is set to
  witness growth owing to its wide applicability
  across residential establishments coupled with
  increasing demand for solar thermal systems.
  Longer thermal storage period and effective
  energy utilization are some of the key features
  which will propel the product penetration.

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• Expansion along with retrofitting and replacement
  of electric infrastructure will fuel the thermal
  energy storage market share. Increasing demand
  for cost-effective and uninterrupted power supply
  from remote and off-grid areas will further
  stimulate the product adoption.
• Increasing demand for Heating, Ventilation Air
  Conditioning (HVAC) systems followed by new
  infrastructure establishments will drive the
  industrial thermal energy storage market. Rising
  community-based electrification programs along
  with increasing private investments from World
  Bank, International Finance Corporation and Asian
  Development Bank toward electrification will
  propel the product demand. In 2015, World bank
  announced to invest USD 400 million in the East
  Asia and Pacific region by 2021 under its
  National Electrification Project.
• Cost effective equipment and technological
  advancements have continued to be the pivot point
  for the industry players. In the changing market
  scenario, companies are also focusing toward
  inorganic growth ventures as a part of their
  expansion strategy.

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Methodology

• Market
  research reports Key analytical components

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