The thermal energy storage refers to the storage of thermal energy by means of cooling, heating, vaporizing, solidifying, or melting of substances and reversing the process for later use. This is useful in balancing the demand and supply of the energy in residential, commercial and industrial entities. Besides, it is greener as it reduces greenhouse gases and decreases carbon footprint by eliminating the need for more fossil-based power plants. The thermal energy storage finds application in power generation, process heating and cooling and district heating and cooling.

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Top Major Players

  1. Abengoa S.A.
  2. BrightSource Energy, Inc.
  3. Cryogel Thermal Energy Storage
  4. DN Tanks
  5. Evapco, Inc.
  6. Goss Engineering
  7. Ice Energy
  8. QCoefficient, Inc.
  9. SolarReserve, LLC
  10. 1Steffes, LLC

MARKET SEGMENTATION

  • The global thermal energy storage market is segmented on the basis of technology, storage material, application and end-user.
  • Based on technology, the market is segmented as sensible heat storage, latent heat storage and thermochemical storage.
  • By storage material, the market is segmented as water, molten salt, PCM, others.
  • On the basis of the application, the market is segmented as power generation, district heating & cooling and process heating & cooling.
  • The market on the basis of the end-user is classified as industrial and residential & commercial.

The study wanted to focus on key manufacturers, competitive landscape, and SWOT analysis for the Thermal Energy Storage Market. Apart from looking into the geographical regions, the report concentrated on key trends and segments that are either driving or preventing the growth of the industry. Researchers have also focused on individual growth trends besides their contribution to the overall market

Scope of the Report:

The report segments the global Thermal Energy Storage Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Thermal Energy Storage Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

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Competitive Analysis:

In the competitive analysis section of the report, leading as well as prominent players of the global Thermal Energy Storage market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2022-2028. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2022-2028

The research provides answers to the following key questions:

1.What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?

2. What are the key driving forces responsible for shaping the fate of the Thermal Energy Storage market during the forecast period?

3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Thermal Energy Storage market?

4. What are the prominent market trends influencing the development of the Thermal Energy Storage market across different regions?

5. What are the major threats and challenges likely to act as a barrier in the growth of the Thermal Energy Storage market?

6. What are the major opportunities the market leaders can rely on to gain success and profitability?

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