Thermal Energy Storage Systems Are Majorly Incorporated In Electric Utility Plants
Definition
Thermal energy storage systems are particularly utilized to store energy for later use. Thermal energy storage (TES), also known as heat storage, is a simple & highly efficient method of transferring energy, which does not involve chemical conversion.
Drivers & Restraints
The global market is anticipated to rise at a considerable rate during the forecast period. In the recent years, the market was growing at a steady rate and with the rising adoption of strategies by key players; the market is expected to rise over the projected horizon. The growth of the global thermal energy storage market is backed by increasing demand for electricity during peak hours, increasing commercialization of CSP plants, and demand for heating & cooling applications for smart infrastructure.
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Segments-
Product Type-
Sensible Heat Storage
Latent Heat Storage
Thermochemical Heat Storage
Application-
Industrial
Utilities
Residential & Commercial
Regional Analysis
The market has been segment into North America, South America, Europe, Asia-Pacific, and Middle East and Africa. Europe held the largest share of the thermal energy storage market in the recent years.
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Companies-
BrightSource Energy Inc.
SolarReserve LLC
Abengoa SA
Terrafore Technologies LLC
Baltimore Aircoil Company
Ice Energy
Caldwell Energy
Cryogel
Steffes Corporation
