Thermal Energy Storage Market Forecasts from 2017 To 2025 Made Available By Top Research Firm Published By Credence Research

Credence Research Logo
Credenceresearch.com has announced the addition of ”Global Thermal Energy Storage Market- Growth, Future Prospects & Competitive Analysis, 2017 – 2025″ Market Research Report to their Database.

According to a new market report published by Credence Research Global Thermal Energy Storage Market– Growth, Future Prospects & Competitive Analysis, 2017 – 2025, the Global Thermal Energy Storage Market is expected to reach US$ 6.2 Bn by 2025, expanding at a CAGR of 11.0% during the forecast period 2017 – 2025.

Market Insights

Thermal energy storage market is expected to witness robust growth with increasing spending on renewable energy including wind and solar owing to rising concerns over the emission of greenhouse gases promoting the use of solar and wind energy. Revision in emission targets at Paris Climate Change Conference, impelling the investment in the solar and wind energy projects across various economies of the globe. In 2016, more than 54 GW of wind energy was added across various countries of the world to reach cumulative world wind power capacity of 486.8 GW.

Browse the full Global Thermal Energy Storage Market by Technology, Storage Material, End User and Geography – Growth, Future Prospects & Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/thermal-energy-storage-market

Similarly, global solar power generation also witness robust growth in capacity addition of solar power. In 2016, 50 GW solar power capacity was added global across the globe. Globally, now cumulative solar power capacity is about 305 GW with highest growth in new capacity addition of 29% of the Europe new solar capacity addition. Followed by it, Germany stood at second place with 21% share in Europe new capacity addition and France with 8.3% share in Europe new solar power capacity addition. Thus, growth in solar power installation is projected to fuel the demand thermal energy storage. Moreover, various government initiatives such as 100% electric vehicle mobility by 2030 set by Indian government to transform the transit system to use clean energy anticipated to propel the demand for thermal energy storage. Further, growing demand for thermal energy storage in HVAC application is projected to augment the demand for thermal energy storage over the forecast period. Therefore, thermal energy storage market is projected to witness robust growth during the forecast period of 2017-2025.

Competitive Insights:

Global thermal energy storage market is segmented on the basis of technology, storage material, end user and geography. By technology, sensible technology segment was the most dominant segment in global thermal energy storage market in 2016 and anticipated to continue its dominance over the forecast period. Increasing application of sensible technology such as underground storage of sensible heat in both liquid and solid storage medium is also used for various applications including district heating and cooling systems. Based on storage material, molten salt material segment accounted for the largest share in global thermal energy storage market owing increasing use of molten salts based technology is projected to drive the growth of the segment during the forecast period. On the basis of geography, Europe was estimated to be the largest market for thermal energy storage in 2016 and projected to maintain its dominance during the forecast period. Revision in emission targets and increasing investment in renewable energy capacity addition is anticipated to drive the growth of the segment during the forecast period. Major players in global thermal energy storage market are investing in research and development, merger and acquisition with focus on increasing market penetration.

Overall, global thermal energy storage market is anticipated to register robust growth over the forecast period (2017-2025).

Key Trends:

–  Merger & Acquisition

–  Investment in R&D

Browse the full Global Thermal Energy Storage Market by Technology, Storage Material, End User and Geography – Growth, Future Prospects & Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/thermal-energy-storage-market

About Us:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Who we are

Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.

Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.

Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.

Request Sample: http://www.credenceresearch.com/sample-request/58516

Media Contact
Company Name: Credence Research, Inc
Contact Person: Chris Smith, Global Sales Manager
Email: Send Email
Phone: +1-800-361-8290
Address:105 N 1st ST #429, SAN JOSE, CA 95103 US
City: SAN JOSE
State: California
Country: United States
Website: http://www.credenceresearch.com/report/thermal-energy-storage-market