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.
Demand for air source heat pumps is forecast to increase 2.5 percent per year through 2021 to $2.1 billion. Air source heat pumps comprise a significant amount of total heat pump demand, largely due to the easier installation requirements and lower initial costs than geothermal heat pumps. Air source heat pumps also compete more directly with other HVAC equipment and are a viable heating and cooling option in most buildings.
The global commercial refrigeration equipment market was valued at $36.63 billion in 2015, and is expected to generate revenue of $61.44 billion by the end of 2021, growing at a compound annual growth rate (CAGR) of slightly over 9 percent between 2016 and 2021, according to a report from Zion Market Research.
According to a recently published IHS report, the global market for demand response-enabled Smart Home Energy Management devices will grow to $4 billion by 2025.
The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency (IEA). The report also finds that energy efficiency finance is becoming an established market segment.
A new report from the International Energy Agency (IEA) said energy-efficiency markets around the world drew investments of up to $300 billion in 2011, on par with global investments in renewable energy or fossil-fuel power generation.
The scale of global investment in energy efficiency and its contribution to energy demand are as significant as those of other developed supply-side resources, stated the International Energy Agency (IEA) as it introduced a new report that describes the wide range of energy efficiency activities worldwide in market terms.