This report titled “Thermal Energy Storage Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025” offers strategic insights into the trends in thermal energy storage market along with the market size and forecast for the duration 2017 to 2025. The said research study incorporates in-depth analysis of multiple market segments based technology, storage material, end user and geographical distribution.

Fly ash is a type of pozzolan formed by the burning of pulverised coal. The fly ash is a fine amorphous powder, rich in alumina and silica generated through separation methods such as electrostatic, mechanical etc. The fly ash is a predominant material in the construction industry and used as an admixture. The quality and properties of fly ash varies depending upon the nature of coal and coal combustion processes.

Acyclic nature of weather and growth in end-use industries dependent on forecast stimulating the weather forecasting services market to register market value of US$ 1,300.5 Mn in 2017 and estimated to touch US$ 1,951.8 Mn by 2026 with a compound annual growth rate of 4.6%. Global warming and continued deterioration of natural resources disturbed the cyclic nature of weather.

Reed switches are unique devices with hermetically sealed technology and are designed to be used in almost any environmental condition. Due to its simple and unique structure, reed switches are used in several applications including test and measurement equipment, medical electronics, telecom, automotive, security, appliances, general purpose and others. The overall reed switches market is highly driven by the superior operational benefits offered by these switches as compared to conventional mechanical switches. Some of the major benefits offered by reed switches include:

Perpetual rise in demand for electric energy and rising pressure of optimum utilization of available resources encouraged power plant simulators market to grow with a growth rate of 3.6% during the forecast period from 2018 to 2026. A power plant is combination of millions of systems and sub-systems working together with a common goal of electricity generation.

Power battery management systems are electronic devices used to monitor and control charging and discharging of a rechargeable battery. Power battery management systems protects and manages the cells in the battery pack. Government initiatives in form of subsidies and tax exemptions have encouraged adoption of electric vehicles. Growing need for managing batteries in hybrid electric vehicles is identified as the major factor driving the global power battery management systems market.

The metagenomics analysis market is set to reach from US$ 374.6 Mn in 2017 to US$ 1,505.7 Mn in 2026 highlighting rampant growth at a compounded annual growth rate of 16.9% during the forecast period from 2018 to 2026. Increasing demand for microbial screening in food and chemical industry and significant increase in the bioinformatics segment drive the metagenomic analysis market growth.

A KVM Switch is a hardware device that allows you to control multiple computers through a single keyboard, monitor and mouse (KVM). KVM switches are commonly used in data centers where multiple servers are placed in single rack. KVM switches enable network administrators to streamline IT environment and rack space. In addition, it substantially reduces networking cost for organizations and clutter of additional monitors, keyboards and mice required. Another benefit of using KWM is it improves the server manageability.

Wind energy is one of the cheapest forms of energy source. Depletion of conventional energy sources and their ill effects are causing serious problem to environment. Countries of the world are reducing their over-dependence on fossil fuel and shifting towards renewable energy sources like wind. In the long run, wind energy will help to reduce CO2 emission, a gas responsible for depleting ozone layer and thereby climate change. Commitment of countries of the world to increase their share in renewable energy and financial aid from governments has helped to grow the market in 2018.

The test and burn-in sockets market worldwide is expected to grow with a CAGR of 5.6% during the forecast period from 2019 to 2027. The test and burn-in sockets market is driven by the connector market. The test and burn-in sockets denote a small but challenging segment of the connector market. The designs of the sockets are robust, leading edge and are produced in small quantities. The sockets are widely used in smartphones and driving assistance systems.

The global residential energy storage market is growing competently, expected to grow at a CAGR of 16.0% during the estimated period from 2019 to 2027, starting from US$ 5.99 Bn in 2018. The growth of residential battery storage in the power sector has engrossed attention for a wide-scale application in the residential and commercial sectors. Most of the attention is focused towards utility-scale batteries and for commercial and industrial customers. In addition, the large batteries are precarious segments for the energy-storage market, along with the swift growth of residential energy storage and household systems will expand the battery market on a global scale.

The global power tool batteries market is poised to reach US$ 55.04 Bn by 2027, expanding at a CAGR of 7.10% during the forecast period from 2019 to 2027. Increase in number of construction and infrastructure projects, rapid growth in automobile sector, and growing adoption of power tools are identified as the major factors driving demand for power tool batteries worldwide. However, higher cost for cordless tools, higher maintenance cost, and government policies and regulation constraints for its transportation are the major challenges faced by power tool batteries market.

Hydrogen is an energy rich gas and is used in number of applications such as rocket fuel, car fuel, a material for industrial products such as hardened fats and also can be converted into synthetic natural gas. Hydrogen energy storage (HES) system increases the resiliency and improves the economics of energy supply in electric grids, pipeline systems and transportation fuels. Hydrogen energy storage system increases the flexibility and resilience of sustainable energy supply system with overall reduction in energy cost by on account of integration and better utilization of renewables.

The Ground power unit (GPU) market worldwide is expected to grow with a CAGR of 4.7% during the forecast period from 2019 to 2027, starting from US$ 7.63 Bn in 2018. Ground Power Unit also abbreviated as GPU is an immovable power supply for aircraft parked on the ground or a powered vehicle. A GPU may refer to a specific power supply, battery power supply, or a combination of both. Power sources might be an airport-based dedicated generator or central station.

The global grid-scale battery market is growing competently, expected to grow at a CAGR of 22.0% during the estimated period from 2019 to 2027, starting from US$ 2.22 Bn in 2018. Grid-scale battery storage systems will play a vital role in aiding the next stage energy transition towards renewable systems. The battery storage systems offer grid services like regulation reserves, frequency response, and ramp rate control.

Globally, the gas circuit breaker market is expected to grow with a CAGR of 5.0% during the forecast period from 2019 to 2027, starting from US$600.5 Mn in 2018. Gas circuit breakers consists of sulphur hexafluoride (SF6) which interrupts with electric currents when a fault is detected and helps protect the electrical power stations and distribution systems. Gas circuit breakers have various advantages over conventional methods as these systems donot need to be replaced, however they can be reset to resume usual operations.

The global energy as a service market is growing proficiently, projected to grow at a CAGR of 11.9% during the expected period from 2019 to 2027, starting from US$ 42.35 Bn in 2018. A key factor driving the growth of global energy as a service market is a growing demand for reducing building energy costs.

Globally, the electric charging station market is expected to grow with a CAGR of more than 39% during the forecast period from 2019 to 2027, starting from US$8.8Bn in 2018. The adoption of electric vehicles is growing rapidly across the world.  Electric charging station provides the import role in the adoption of electric vehicles as they offer the safe, durable, reliable and the affordable charging infrastructure and ecosystem. 

With the growing urbanization and industrialization across the globe, there are many environmental challenges pop-up in the world. With the stringent environmental laws for treating industrial wastewater, there is a high demand for charcoal. Also, a new trend of barbecued food created ample opportunities for charcoal manufacturers in the recent past. Moreover, to minimize the carbon dioxide emission while producing silicon, industries are opting for charcoal instead of coal as earlier. This has provided a good opportunity for the market to grow in 2018.

Coconut shells are a clean, preferred source of charcoal. While charcoal can be made from wood, coal, or other substances. However, coconut charcoal is superior as wood charcoal has a carbon content with about 80% while coconut charcoal has a carbon content of maximum 75%. This makes coconut charcoal healthier. Further, by burning coconut shells at a very high heat, activated coconut charcoal is produced. This generates millions of tiny pores on the surface.