Market Research

Transparency Market Research
Thermal Energy Storage Market by Technology for Commercial and Industrial, Utilities, and Residential End Use Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020

Published Date 2015-01-21

122 Page Report

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Press Release

Thermal Energy Storage Capacity Installation is Estimated to Reach 6,070.2 MW by 2020
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Thermal Energy Storage Market

REPORT DESCRIPTION

Transparency Market Research has released a new market research report. According to the report, the global thermal energy storage installed capacity stood at 2,038.3 MW in 2013 and is anticipated to reach 6,070.2 MW by 2020, expanding at a CAGR of 17.1% from 2014 to 2020. In terms of revenue, the global thermal energy storage market was valued at USD 627.6 million in 2013 and is projected to reach USD 1,818.8 million by 2020, expanding at a CAGR of 16.7% between 2014 and 2020.

Global demand for energy is increasing due to rising population. Improved standard of living also acts as a catalyst for demand for energy. Demand for primary energy is likely to increase at a rate of 1.6% p.a. from 2011 to 2030. Furthermore, energy-related environmental concerns such as stratospheric ozone depletion, increasing amount of carbon in the atmosphere, and acid precipitation are projected to rise in the near future. End-users are shifting to renewable energy sources due to the rise in energy costs and growing importance of environmental protection. Renewable energy sources, particularly solar and wind, are gaining importance as means to achieve higher efficient and environment-friendly energy.

Browse the full Thermal Energy Storage Market report at http://www.transparencymarketresearch.com/thermal-energy-storage-market.html

Renewable energy sources are time...