A new Transparency Market Research report states that the global thermal energy storage market stood at US$0.6 bn in 2013 and is predicted to reach US$1.8 bn in 2020. It is expected to expand at a remarkable CAGR of 16.70% from 2014 to 2020. Browse the full Thermal Energy Storage Market report at : http://www.transparencymarketresearch.com/thermal-energy-storage-market.html As per the report, the market for thermal energy storage is fuelled by the expansion in variable energy sources (VES) and the rising demand for reliable, price-competitive, and efficient access to electricity. In addition, the key opportunity in the market is the emergence of latent heat storage as a key application area for thermal energy storage systems. On the other hand, the factors such as grid interconnection and investment barriers may impede the growth of the market in the coming years.
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