Global Thermal Storage Market to Witness Impressive Growth, Revenue to Surge to USD 8.30 Billion By 2028

The global Thermal Storage market accounted for USD 4.83 Billion in 2020 and is expected to reach USD 8.30 Billion by 2028, growing at a CAGR of 6.7% from 2021 to 2028.       

The Thermal Storage market report includes comprehensive and profound analysis on the global and regional level. The report gives historic data of 2016 to 2019 along with a forecast from 2021 to 2028 based on revenue (USD Billion). The study comprises drivers, restraints, and opportunities in the Thermal Storage market along with the impact on the demand over the forecast period.

The report provides the complete view of the Thermal Storage market and encompasses detailed type portfolio and strategic developments of key vendors. To know the competitive landscape of the Thermal Storage market, an analysis of Porter’s five forces model is done.

The study provides a decisive view on the thermal storage market by segmenting the market based on Technology, storage material, and applications. All the application segments have been analyzed based on present and future trends and the market is estimated from 2021 to 2028. Key application segments covered under this study include power generation, district heating & cooling, process heating & cooling. On the basis of technology, the market has been segmented into sensible heat, latent heat, and thermal chemical heat. On the basis of storage material, the market has been segmented into the water, molten salt, and phase change material. The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. This segmentation includes demand for thermal storage based on individual applications in all the regions and countries.

The MEA was the biggest and most attractive market that ruled the global thermal storage market. South Africa was the top region in the global thermal storage market. Asia Pacific region is likely to be the second top area for the thermal energy market, owing to developing nations such as China, India, South Korea, Japan, Indonesia, and Malaysia are witnessing rapid growth in urbanization and population.

Some of the major players involved in the global thermal storage market include Calmac, DN Tanks, Ice Energy Holdings. Inc, Steffes Corporation, Burns & McDonnell, Fafco, Moixa Energy Holding Ltd, Trinabess, SENEC.IES, Redflow Limited, Murata Manufacturing, Statoil ASA, Abengoa Solar, CircuiTree and Duke Energy Corporation.

Browse the full “Thermal Storage Market (By Technology: Sensible Heat, Latent Heat And Thermo Chemical Heat; By Storage Material : Water, Molten Salt And Phase Change Material For Power Generation, District Heating & Cooling, And Process Heating & Cooling By Applications): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/thermal-storage-market

The global Thermal Storage market is segmented as follows:   

By Storage Material  Analysis

• Water
• Molten Salt
• Phase Change Material

By Technology

• Sensible Heat
• Latent Heat
• Thermo Chemical Heat

By Application

• Power Generation
• District Heating & Cooling
• Process Heating & Cooling

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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