DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Thermal Energy Storage Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022" report to their offering.
The global thermal energy storage market is projected to grow at 16.70% CAGR during 2016 to 2022, to an estimate of $1.8 billion by 2022.
According to International Energy Agency (IEA), share of renewable energy in global energy production is set increase up to 26% by 2022. Demand for renewable energy has increased among countries like India, Brazil, Middle East, South Africa and US. Tapping on renewable energies like solar, wind, tidal etc, governments are trying to find technology to store generated energy. According to IEA, sun could be largest source of electricity by 2050. Solar photovoltaic systems and solar thermal electricity could contribute up to 16% and 11% of the world's electricity by 2050.
Increasing need for access to reliable, efficient, cost competitive electricity, delaying distribution and transmission of electricity, and development in variable energy sources are some of the drivers of the thermal energy storage market. Long term energy storage and limited commercialization of product are challenges hampering the growth global thermal energy storage market for the forecasted period. Also, high initial setup cost for storage, maintenance cost, and high grid interconnection barriers are the restraints for global thermal energy storage market.
Companies Mentioned:
- Abengoa Solar
- Baltimore Aircoil Co
- Brightsourceinc
- Caldwell Energy Ltd
- Clean Urban Energy Inc
- Solar Reserve
- Steffes Corporation
- Dc Pro Engineering Llc
- Tas Energy
- Cristopia Energy Systems
- Cool Solutions Co
- Evapcoinc
-
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Key Topics Covered:
1. Introduction
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Geographic Analysis
6. Company Profile
For more information about this report visit http://www.researchandmarkets.com/research/cdsckt/global_thermal
