The global Thermal Energy Storage Market is witnessing a significant growth due to rising impetus on renewable energy generation such as concentrated solar power, increasing demand for thermal energy storage systems in HVAC, and government incentives for thermal energy storage systems. The thermal energy storage market is expected to grow from an estimated USD 3.67 Billion in 2017 to USD 6.20 Billion by 2022, registering a CAGR of 11.0% from 2017 to 2022.

Browse 61 market data tables and 35 figures spread through 142 pages and in-depth TOC on "Thermal Energy Storage Market"
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The sensible heat storage segment is expected to hold the largest share of the thermal energy storage market, by technology, during the forecast period
The sensible heat storage segment led the overall thermal energy storage market in 2016. Sensible heat storage of thermal energy has a number of residential and industrial applications. Underground storage of sensible heat in both liquid and solid storage medium is also used for typically large-scale applications such as district heating and cooling systems. Increased applications of sensible heat based thermal storage in the Middle East & Africa and Asia-Pacific is projected to drive the market during the forecast period.

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The Middle East & Africa is the largest market for thermal energy storage
In this report, the thermal energy storage market has been analyzed with respect to four regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Middle East & Africa is estimated to be the largest market for thermal energy storage by 2022. Heat thermal storage and molten salt thermal storage are major technology types employed in South Africa. Majority of thermal storage projects are present in Northern Cape in the country. South Africa is endowed with enormous solar and wind resources. This will drive the thermal energy storage market in the country during the forecast period.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the thermal energy storage market. These players include Ice Energy (U.S.), Calmac (U.S.), DN Tanks (U.S.), Abengoa Solar (Spain), SolarReserve, LLC (U.S.), and Burns & McDonnell (U.S.) among others.

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