Increase in demand for thermal energy storage systems for power backup, cooling, and heating applications drives the growth of the global thermal energy storage marketPORTLAND, Ore., April 11, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Thermal Energy Storage Market by Technology (Sensible, Latent, Thermochemical), by Application (Power Generation, Heating, Cooling), by Storage Material (Water, Molten Salt, Phase Change Material (PCM), Others), by End User (Residential, Commercial and Industrial, Utilities): Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global thermal energy storage industry was pegged at $20.8 billion in 2020, and is expected to reach $51.3 billion by 2030, growing at a CAGR of 8.5% from 2021 to 2030.Allied_Market_Research_LogoDrivers, restraints, and opportunities-Increase in demand…
Thermal Energy Storage Market to Reach $51.3 Bn, Globally, by 2030 at 8.5% CAGR: Allied Market Research
