Worldwide Thermal Energy Storage Market Growing Steadily
With an increase in population, the demand for energy for heating and cooling purposes has also risen. Thermal energy storage is a means to temporarily store thermal energy for later utilization, helping maintain the demand and supply equilibrium. In 2017, the global thermal energy storage market generated a revenue of $3,000.9 million, which is expected to reach $7,472.9 million by 2023, progressing at a CAGR of 15.9% during the forecast period (2018–2023). Apart from a growing demand for energy, the...
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