DUBLIN--(BUSINESS WIRE)--The "Global Molten Salt Thermal Energy Storage Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The molten salt thermal energy storage market will register a CAGR of over 4% by 2023.
In the commercial and industrial (C&I) sectors, downtime caused by power outages leads to huge losses for the companies.
For commercial and industrial sectors, such as the manufacturing, engineering and construction, pharmaceutical and healthcare, oil and gas, industrial farming, mining, energy, aerospace, petrochemical, warehousing, and distribution sectors, power backup is crucial for smooth operations.
Many mission-critical businesses, from data centers to financial institutions, can incur losses by even a short power outage. Morten salt thermal energy storage solutions help reduce utility costs and improve power reliability and quality.
Many companies have started investing in energy storage to overcome the challenges with power outages. Therefore, the increased need for power backup across industries will drive the global molten salt thermal energy storage market during the forecast period.
Cost savings by ESSs
The rise in demand for power has led to power outages and heavy loads during peak hours in many countries. Power loss during transmission and distribution can cause power outages. Therefore, this ESS helps reduce power bills.
The addition of renewables, such as concentrated solar power, into the energy mix drives the demand for molten salt ESSs to store heat that can be converted into electricity.
One of the main procedural issues is the administrative delay in the implementation of new regulations in favor of energy storage, which acts as a barrier to ESSs' deployment.
Reasons for this delay include the slow adoption of pay-for-performance and slow progress in considering ESSs as an alternative in planning and procurement process by state public utility commissions. Considering such factors, administrative delay still remains a challenge for ESSs development.
The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
- SENER Group
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TECHNOLOGY
- Comparison by technology
- Parabolic trough - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by technology
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- EMEA - Market size and forecast 2018-2023
- Americas - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Development of ZEBs
- Emergence of solar thermal enhanced oil recovery
- Increased adoption of microgrids
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- SENER Group
For more information about this report visit https://www.researchandmarkets.com/research/fkgph7/global_molten?w=4
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