Skip to content
  • About Us
  • Contact Us
  • Press Release

The Global News Press

Daily Source of Industry News & Updates !!

  • Top Stories
  • Health
  • Science
  • Technology
  • Press Release
  • Toggle search form
Thermal Energy Storage Market

Thermal Energy Storage Market Expected to Reach USD 8558.34 Million by 2026

Posted on October 28, 2021 By Milind k No Comments on Thermal Energy Storage Market Expected to Reach USD 8558.34 Million by 2026

According to the research report, the global thermal energy storage market in 2019 was approximately USD 4,281.6 Million. The market is expected to grow at a CAGR of 10.4% and is anticipated to reach around USD 8558.34 Million by 2026.

Thermal energy storage is referred to as a technology that stocks thermal energy by cooling or heating a storage medium. Later on, the stored energy can be used for heating and cooling applications and while reducing the consumption of power. Generally, in buildings and industrial processes, thermal energy storage systems are used.

An increase in demand for thermal energy storage systems in HVAC, government incentive programs for thermal energy storage systems are significantly influencing the demand for thermal energy storage systems in recent years. However, the lack of technical expertise and high grid interconnection barriers are curbing market growth. Furthermore, thermal energy storage in combination with concentrating solar power (CSP) for storing electricity is gaining popularity as solar heat can be stored for the production of electricity, even in the absence of sunlight. Thereby, consecutive briefs on emerging technologies will accelerate the demand for the thermal energy storage market.

Request Free Sample Copy of Research Report @ https://www.fnfresearch.com/sample/thermal-energy-storage-market-by-technology-sensible-heat

The global thermal energy storage market has been segmented into technology, storage material, and end-users. The technology has been categorized into sensible heat storage, latent heat storage, and thermal heat storage. In 2019, latent heat storage is leading the market and sensible heat storage is followed by latent heat storage technology. The storage material has been classified into the water, molten salt, and phase change material (PCM), among others. Molten salt has accounted for the highest market share presently. The phase change material is expected to grow at the fastest rate during the forecast timeline as it is capable of releasing and storing large amounts of energy. The end-user has been fragmented into commercial and industrial, utilities, and residential. The residential segment is expected to grow at a faster rate than other application segment owing to its rising usage of thermal energy storage systems in HVACs.

North America dominated the global thermal energy storage market owing to the presence of a huge number of vendors coupled with numerous thermal projects that are under construction. For instance, in 2019, Azelio AB, a Europe-based renewable energy equipment manufacturer had entered into a partnership agreement with Biodico, a US-based renewable energy technology provider for developing thermal energy storage projects in Atascadero, California, US, by 2024. This project will help Biodico, to develop biofuel production centers, which will be powered by clean energy produced by renewable resources on-site to minimize greenhouse gas emissions, and Azelio will be able to supply approximately 9,000 units to meet the demand for electricity. Furthermore, growing awareness toward limiting carbon footprint paired with greater investments in solar energy in the European region will propel the installations of the thermal storage systems. Thereby, certain initiatives taken by regions will increase the global market share of thermal energy storage in the upcoming years.

Inquire more about this report before purchase @ https://www.fnfresearch.com/inquiry/thermal-energy-storage-market-by-technology-sensible-heat

(You may enquire a report quote OR available discount offers to our sales team before purchase.)

Top Market Players

Some of the essential players operating in the global thermal energy storage market, but not restricted to include Baltimore Aircoil International, Cryogel Thermal Energy Storage, Caldwell Energy Company, Dunham Bush, EVAPCO, Inc., CALMAC (Trane), Cristopia (CIAT UK), Araner, Nostromo, FVB Energy Inc., Ground Sun Ltd., Viking Cold Solutions, DN Tanks, Vogt Ice, and Sunwell among others.

Browse detail report with in-depth TOC @ https://www.fnfresearch.com/thermal-energy-storage-market-by-technology-sensible-heat

About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
Global Headquarters
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
Tel: +91 96043 17127
USA: 1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com

Milind k
Milind k
Digital Journal Tags:Thermal Energy Storage Market

Post navigation

Previous Post: Global Nuclear Power Plant and Equipment Market Worth USD 50,128.4 Million By 2026
Next Post: 3D Printed Batteries Market Expected CAGR Rate of 20% During Forecast Period

Related Posts

Global Feed Premix Market to reach new threshold volume in the years to come Digital Journal
Skin Allergy Therapeutics Market : Industry Analysis and Forecast (2021-2027)– by Type, Application, and Region Digital Journal
In-Memory Computing Market Rise in Demand,Future Analysis by Top Leaders – Oracle,Software AG,Red Hat,MongoDB,Salesforce,Kognitio,Intel,Enea Digital Journal
Digital Journal
Global Implantable Drug Delivery Devices Market 2021 Business Standards and Competition Landscape 2027 Digital Journal
Global Bronchoscopes Market Revenue To Hit US$ 21,416 Million By 2027 Digital Journal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Data recoverers crack Apple’s M1 chip
  • Global Electrosurgical Generators Market Manufacturers and suppliers, Geographical insights and Competitive landscape 2022-2028
  • Global Biometric Payments Market Growth will Accelerate at CAGR value, SWOT Analysis and EBITA Analysis | Know More
  • Global Hyperhidrosis Treatment Market by Historical data, Financial reports of key industry players and Industry journals | Know More
  • Global Robo-Taxi Market by Industry experts, Strategic decision makers, Manufacturers and suppliers and Channel partners|Know More

Who We are

The Global News Press is a news platform that offers a detailed report on every global affair in a unique and conversational way. While we are one of the key news providers all across the world, the enormous number of our followers is the end product of our consistent, true, and trustworthy news reporting service. Besides covering all the happenings around the world only after checking the authenticity of each news report, we see that the platform is not used for the purpose of spreading hatred or propaganda.

Company

  • Home
  • Contact Us

Copyright © 2025 The Global News Press.

Powered by PressBook Grid Blogs theme