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18 Jan 2016 11:01:20

Molten Salt Thermal Energy Storage Market to Rise at 24.7% CAGR from 2015 to 2023, Need for Future Energy Security Drives Market



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

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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