The Global Molten Salt Thermal Energy Storage Market to Grow At A CAGR Of 17.25 Percent over the Period 2012-2016

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Dublin, Oct. 10, 2013 (GLOBE NEWSWIRE) -- Research and Markets
(http://www.researchandmarkets.com/research/fcpd7m/global_molten) has announced the addition of the "Global Molten Salt Thermal Energy Storage Market 2012-2016" report to their offering.

One of the key factors contributing to this market growth is the increase in positive attributes of molten salt. The Global Molten Salt Thermal Energy Storage market has also been witnessing the increase in R&D initiatives. However, the decline in solar subsidy rates could pose a challenge to the growth of this market.

The key vendors dominating this market space are Abengoa Solar S.A., Areva S.A.S., General Electric (GE) Energy LLC., and Pratt and Whitney Rocketdyne Inc.

The other vendors mentioned in the report are Siemens Energy Inc., Acciona Solar Power Inc., Applied Materials Inc., Asahi Glass Co. Ltd., Battelle Energy Alliance LLC, BrightSource Energy Inc., Corning Inc., Directed Vapor Technologies International Inc., DuPont E.I., Hitachi Ltd, and SCHOTT AG.

Commenting on the report, an analyst from TechNavio's Clean Tech team said: ''The increased R & D activities in the Renewable Energy sector constitute another major prevailing trend in the Global Molten Salt Thermal Energy Storage (TES) market. There are various favorable policies and procedures that exist for boosting the Solar sector. For instance, the Federal Environment Ministry (FEM) in the US has plans to increase investment in research related to renewable energies; a massive amount was kept aside for R & D in the Renewable sector in 2011, part of which was diverted for R & D in the Global Molten Salt TES market.''

According to the report, the increase in the positive attributes of molten salt is one of the major factors that drives the growth of the market. The positive attributes of molten salt have increased as a result of R & D activities in the market. One of the most important qualities of molten salt energy TES is that it has operating temperatures compatible with high-pressure and high-temperature steam turbines.

For more information visit http://www.researchandmarkets.com/research/fcpd7m/global_molten

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Source:Research and Markets