In
current times, tapping into renewable energy sources and aiming for
maximum utilization of the energy produced will be sustainable in the
long-run, says a recent market study by Transparency Market Research
(TMR). In this endeavor, to conserve energy for future use, the trend
to store energy in specialty units has come to the fore, which has
enabled the global molten salt thermal energy storage (TES) market’s
estimated rise at a phenomenal 24.70% CAGR from 2015 to 2023. The
market had a valuation of US$266.2 mn in 2014 and will be valued at
US$2.5 bn by 2023,
In-depth
research report on Molten Salt Thermal Energy Storage (TES)
Market with Full TOC at :
http://www.transparencymarketresearch.com/molten-salt-thermal-energy-storage-market.html
The
report says that worldwide, the need for sustainable energy
solutions, wherein renewable energy and thermal energy storage
technologies are important elements, is boosting the demand for
thermal energy storage systems. Molten salt TES systems can be
installed in buildings, districts, and towns, wherein energy
generated can be conserved for future use. With the utilization of
molten salt TES systems, the dependency on conventional energy
sources reduces substantially and optimum efficiency of energy
systems is attained, which in turn helps fill the demand-supply gap
in the energy sector.
Molten
salt thermal energy storage will also curb energy demand and energy
consumption by end users, thereby curbing carbon dioxide emissions.
In the future, it is expected that the utilization of molten salt TES
systems will increase the share of renewable energy in the overall
power generation scenario, especially benefiting the wind and solar
energy markets. For example, concentrating solar power (CSP) units
are now installing thermal energy storage technologies such as molten
salt, wherein stored energy is stored to provide electricity in the
absence of sunlight.
Currently,
the molten salt TES market is on a fast growth trajectory due to the
high reliability, high performance, and optimized cost of these
systems. The use of the technology for the purpose of storing energy
is suitable for a myriad end uses, which ranges from centralized
energy distribution units in industries to district heating and
cooling systems to power plants to energy distribution systems in
residential and commercial buildings, and more.
The
output of a thermal energy storage system, such as the molten salt
one, is dependent on the number of users, applicability, operational
needs, and the nature of the storage cycle.In order to bridge the
energy supply and demand gap and to ensure electricity supply in
off-grid areas, economies around the world are displaying an
inclination towards the adoption of thermal energy storage
technology, such as molten salt.
Ask
of Brief Illustration of this Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6478
Apart
from North America and Europe, which already have TES systems in
place in large numbers, the developing economies of Asia Pacific, the
Middle East, and Africa also have high potential for the adoption of
these technologies. In developing economies, the low construction
cost of these units and high potential of the real estate sector will
accentuate the growth of the molten salt TES market.Europe, led by
Spain, was the largest market for molten salt TES market in 2014,
with this hierarchy expected to continue in the next few years.
Global
Molten Salt Thermal Energy Storage Market: Regional Segment Analysis
North
America
- U.S.
- Rest of North America
Europe
- Spain
- Rest of Europe
Asia
Pacific
- India
- China
- Japan
- Rest of Asia Pacific
Middle
East and Africa (MEA)
- South Africa
- Israel
- Morocco
- Rest of MEA
Central
and South America (CSA)
- Chile
- Brazil
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Us
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Market Research (TMR) is a market intelligence company, providing
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of quantitative forecasting and trends analysis provides
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