Thermal Energy Storage Market to ‘Reach $3.6 Billion Worldwide by 2020’

Author:Pike Research     Source:Pike Research     Click:261     Publish time:2013/1/11 11:01:08
Total revenue from worldwide sales of thermal energy storage (TES) will grow steadily over the remainder of this decade, reaching US $3.6 billion by 2020, according to a report from Pike Research.

Total revenue from worldwide sales of thermal energy storage (TES) will grow steadily over the remainder of this decade, reaching US $3.6 billion by 2020, according to a report from Pike Research.

“Thermal energy storage has strong potential in markets such as the European Union, which have a heavy emphasis on energy efficiency initiatives and rising levels of renewable energy generation,” says research director Kerry-Ann Adamson. “Growth is also expected in the less regulated US market, however, where industry representatives project as much as a quarter of a billion dollars of investment in TES, if pending legislation is passed by Congress.”

TES has not traditionally been packaged and sold as a standalone appliance or service. Thus, thermal storage companies tend to offer their technologies as part of a larger project, for new construction of buildings, or as part of a major retrofit project that will replace or expand an existing cooling system.

Being offered as part of a larger project is a key aspect of the economics of TES installation, according to the report. The greatest value for installing a system comes as part of a new project design, or when investment is triggered by a major event that requires a comprehensive upgrade, according to Pike Research.

The report, Thermal Energy Storage, analyzes the market for thermal energy storage, concentrating on five major applications that currently define the commercial marketplace for thermal storage: thermal storage for heating, ventilation and air conditioning in commercial buildings; district energy systems for cooling and, in some cases, heating; turbine inlet cooling to limit generation power losses; utility and grid support applications; and high-temperature storage at concentrated solar power generation facilities.

In addition to comparing TES technologies and examining the drivers and barriers for the TES market, the study includes profiles of more than two dozen key industry players as well as forecasts for revenue and capacity through 2020.


Keywords:Thermal Energy Storage Market to ‘Reach $3.6 Billion Worldwide by 2020’
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