According to the market research report released by Technavio, the global thermal energy storage market is expected to accelerate at a CAGR of nearly 6% during the forecast period. The increasing demand for CSP is one of the key factors triggering the growth of the market.
This research report titled ˜Global Thermal Energy Storage Market 2018-2022 provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global thermal energy storage market into the following technologies:
In 2017, the MSES segment accounted for 90% of the global market and is projected to decline to 89% by 2022, exhibiting almost 1% decrease in market share.
Global thermal energy storage market: An emerging trend
Change in energy mix is an emerging trend in the thermal energy storage market space. The global demand for energy is on the rise, driven by the growing global population and rising disposable incomes of developing countries. The energy mix is defined as the use of different proportions of energy sources like fossil fuels, nuclear energy, and renewable energy to meet energy needs. The energy mix is changing globally as policy measures are evolving and the technology is advancing. As per IEA, renewable sources of energy are catering to 40% of the increase in the demand for primary energy.
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Technavios sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavios report provides expert market research on the following topics:
- Market Outline
- Global Thermal Energy Storage Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by technology (MSES and PCM)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (CALMAC, DN Tanks, EnergyNest, Ice Energy, and SENER group)
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