Thermal Energy Storage Market Is Expected To Accomplish A Valuation Of Around USD 12.50 Billion By 2025: Grand View Research Inc.
San Francisco, 9 December 2019: The Report Thermal Energy Storage Market Analysis By Type (Sensible Heat Storage, Latent Heat Storage, Thermochemical Heat Storage), By Technology, By Storage Material, By Application, By End-use, And Segment Forecasts, 2018 – 2025 The global thermal energy storage market is expected to reach USD 12.50 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand for access to efficient and cost competitive energy sources is expected to favor market growth. Thermal energy storage is considered to be the primary renewable option for electricity generation. Heat stored by short term and seasonal thermal energy storage systems are extremely helpful in balancing the variations in renewable electricity production & distribution, in a cost effective manner. It causes no adverse impact on the environment and is a sustainable source of energy. The renewable energy demand has increased from various countries in