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Market Overview: –

Thermal energy storage provides an effective way of utilizing the energy that is otherwise wasted in several processes and is also becoming important for saving and conservation of electricity. The need for reducing greenhouse gas emissions and introducing mixed energy sources in global utilities changes the global power generation and distribution scenario. Moreover, features such as lower capital costs as compared to other storage technologies as well as very high operating efficiency helps to boost the thermal energy storage market. The need for a sustainable energy solution for daily needs has fueled the demand for thermal energy storage systems globally.

Key Players

  • Caledonian MacBrayne and CalMac
  • DN Tanks, Inc. 
  • Ice Energy Holdings, Inc.
  • Steffes Corporation
  • Burns & McDonnell
  • Fafco, Inc
  • Abengoa Solar 

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Europe to be the largest market

Europe is projected to dominate the thermal energy storage market. Higher investments on solar energy as well as the lower costs of power generation are some of the factors driving the market in Europe region. Moreover, Europe is also showing great potential for replacement of fossil fuels with utilization of waste heat. Recently, newer developments like seasonal thermal storage and molten salt thermal storage have allowed for the storage of energy during summer as well as in winters.

Scope of the Report

This study provides an overview of the Global Electric motors market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Electric motors market by its type, output power, application and region.

  • By type
  • AC
  • DC
  • Hermatic
  • By Output Power
  • Fractional horsepower
  • Integral horsepower
  • By Application
  • HVAC
  • Motor vehicles
  • Industrial machinery
  • Household appliances
  • Others
  • By Region
  • North America 
  • Asia Pacific 
  • Europe

Market Research Analysis

Asia-Pacific region is expected to dominate the Electric motors market with highest CAGR due to the high industrial output in developing nations such as India and China in automotive sectors as well as consumer electronics sector. The rapidly increasing agricultural sector in the region with use of advanced technology in agricultural equipment is further expected to drive the demand for electric motors in the Asia-pacific region.

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