Thursday 14 May 2015, Amsterdam
The report recognizes the following companies as the key players in Global Thermal Energy Storage Market 2015-2019: Baltimore Aircoil Company Inc. (BAC), Caldwell Energy Inc, CALMAC Ltd and Chicago Bridge & Iron Co. NV.
Other Prominent Vendors in the market are: NEST and Sunwell Technologies.
The report said: “One of the trends for this market is the increased investment in storage technology. Rapid advances in storage technology such as electric vehicles or solar-powered storage technologies will pave the way for the growth of the market in the future. The US and China are investing in efficient storage batteries, power grid capacitors, and CAES to increase the development of these storage technologies.”
According to the report, factors such as growing demand for uninterrupted power supply drive the market growth. Increased electrical disturbances in the power grid in various countries have fueled the need for thermal energy storage systems.
Further, the report states that technological challenges pertaining to thermal energy storage systems curtail the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.