SpendEdge’s recent cost modeling study on molten salt tanks helps suppliers identify the potential cost saving opportunities and assess the cost impact of individual components to improve profit margins in the renewable energy sector.
Growth of the thermal storage sector
The reliability, scalability, and cost-effectiveness of molten salt tanks are propelling the use of thermal storage for storing solar power at an industrial level. The increasing awareness about the depleting energy resources and use of advanced technologies to promote the use of renewable energy is attributed to the demand for molten salt tanks. The initiatives undertaken by various countries across the globe are resulting in the integration of renewable energy sources with main power grid systems. The vendors are trying to venture into such expansion projects to increase their market share and boost their sales revenues. APAC is the fastest growing region with such initiatives and suppliers are focusing on expanding their businesses in this region. The growing focus on advanced testing and commercialization of these storage tanks will help suppliers to access the demand-supply trends and deliver products that meet the end-user requirements.
The latest cost modeling study by SpendEdge offers an in-depth understanding of the pricing models, supplier market landscape, and key market drivers of molten salt tanks. The study also delivers the identification of key data points, including market prices of raw materials, cost elements and structure, process innovations, and industry best practices. Suppliers in the market are focusing on delivering products that match regulatory compliances associated with energy services and develop cost-effective solutions that meet the ever-surging requirement for clean energy.
Increasing JVs and M&As
The demand for alternative energy sources and increasing requirement for sustainable development is encouraging corporate houses to enter joint ventures and mergers and acquisitions. These are capital intensive deals that support the installations of renewable energy systems which maintain electricity grids. Leading corporate houses like Google, Apple, Microsoft, and Facebook are forming strategic alliances to source renewable energy and promote sustainability creatively. Various vendors are taking advantage of these opportunities to expand their market shares.
Solutions SpendEdge offer to businesses
The latest procurement market intelligence study by SpendEdge offers a holistic overview of the growth drivers and the latest trends in the molten salt tank market. Some of the solutions are listed below:
- Offer a deep-dive assessment of each of the cost components and drivers to be included in the cost model and impact of labor cost specific to the location
- Provide insights into the suppliers’ evaluation and selection criteria, suppliers’ operational and functional capabilities, pricing models, and best-in-class procurement practices.
- Develop a robust cost model based on direct and indirect cost categories
- Identify key cost drivers to assist the client with consistent cost reduction and increase profitability and stakeholder returns
Read our complete case study titled – Cost Modeling Helps a Leading Molten Salt Tank Manufacturer Identify Potential Cost Saving Opportunities
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