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As per a recent industry report put forward by Global Market Insights Inc., the thermal energy storage market is forecast to register its name in the billion-dollar fraternity down the line of six years, by exceeding a revenue of $55 billion by 2024, with a projected compound annual growth rate of 18.5 percent over 2018-2024.
DAVIDSON, North Carolina – Ingersoll Rand engaged with Western Cooling Efficiency Center at University of California, Davis, on research that shows thermal energy storage can provide significantly greater benefits to utilities and electricity grid operators than previously thought.
Thermal energy storage has been a proven commodity for years in Europe, but the technology has seemingly been on the peripheral of the HVAC industry in the U.S. Now, energy storage is gradually stepping into the industry spotlight, and manufacturers are ready and willing to showcase their offerings in this important space.
Axiom Energy has been honored with a Gold Stevie® Award for Energy Innovation in the 15th annual American Business Awards. The award recognized Axiom for its Refrigeration Battery, one of which is operating at a Whole Foods Market in Los Altos, California. According to Axiom Energy, other Refrigeration Batteries are scheduled for installation at a Walmart store in San Diego and planned for utilization by Con Edison in its Brooklyn and Queens New York territories.
According to a new market research report, "The Thermal Energy Storage Market, By Technology, Storage Material, Application, End-User, and Region - Global Forecast To 2022," published by MarketsandMarkets, the market is expected to grow from an estimated $3.67 billion in 2017 to $6.20 billion by 2022, registering a compound annual growth rate (CAGR) of 11 percent from 2017 to 2022.
According to a new market research report, "The Thermal Energy Storage Market, By Technology, Storage Material, Application, End-User, and Region - Global Forecast To 2022," published by MarketsandMarkets, the market is expected to grow from an estimated $3.67 billion in 2017 to $6.20 billion by 2022, registering a compound annual growth rate (CAGR) of 11 percent from 2017 to 2022.
Viking Cold Solutions, a supplier of thermal energy storage systems, announced that a Southern California utility, along with an independent third party energy management firm, ASWB Engineering, completed a field demonstration study of the Viking Cold thermal energy storage (TES) system.
Ice Energy, a provider of distributed thermal energy storage solutions, has launched the Ice Cub — a way to cool and heat the home, store energy, and optimize solar power.
Continuing its efforts to bring energy storage to both utilities and facilities with large refrigeration and air conditioning needs, Axiom Exergy has been granted a patent for direct expansion thermal energy storage.