March 28, 2024

Thermal Energy Storage Market Size Analysis 2022 To 2030

The global thermal energy storage market size accounted for US$ 23.7 billion in 2021 and is projected to reach around USD 53.4 billion by 2030, growing at a CAGR of 9.45% from 2022 to 2030.

Thermal Energy Storage Market Size 2022 To 2030


Thermal Energy Storage Market Key Takeaway:

  • By technology, the sensible storage segment has captured 84.8% of the total share in 2021.
  • By storage material, the molten salt segment is growing at a CAGR of 9.3% during the forecast period.
  • By application, power generation segment has accounted market share of around 60% in 2021.
  • By end user, the industrial segment has accounted 40% market share in 2021.
  • In 2021, Europe dominated the market with 37.6% of the total market share.

Report Summary

The global thermal energy storage market report provides a Point-by-Point and In-Depth analysis of global market size, regional and country-level market size, market share, segmentation market growth, competitive landscape, sales analysis, opportunities analysis, strategic market growth analysis, the impact of domestic and global market key players, value chain optimization, trade regulations, recent developments, product launches, area marketplace expanding, and technological innovations.

The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the thermal energy storage market across the globe.

A comprehensive estimate on the thermal energy storage market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of thermal energy storage during the forecast period. Price point comparison by region with global average price is also considered in the study.

Thermal Energy Storage Market Scope

Report CoverageDetails
Market Size in 2022USD 25.94 Billion
Market Size by 2030USD 53.4 Billion
Growth Rate from 2022 to 2030CAGR of 9.45%
Base Year2021
Forecast Period2022 to 2030
Segments CoveredTechnology, Storage Material, Application, End User, and Geography

Key Highlights:

Reports Coverage: It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide containerized thermal energy storage market and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.

Market Outline: This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.

Market Production by Region: The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.

Also Read: Seafood Market Size Analysis 2022 To 2030

Thermal Energy Storage Market Players

The report includes the profiles of key thermal energy storage market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.

Major companies operating in this area are BrightSource Energy Inc., SolarReserve LLC, Caldwell Energy, Cryogel, Steffes Corporation, Abengoa SA, Terrafore Technologies LLC, Ice Energy, Baltimore Aircoil Company

Market Segmentation

By Technology

  • Latent
  • Thermochemical
  • Sensible

By Storage Material

  • Molten salts
  • Water
  • Phase change materials
  • Others

By Application

  • Process Heating and Cooling
  • Power Generation
  • District Heating and Cooling

By End-User

  • Utilities
  • Residential & Commercial
  • Industrial

Regional Segmentation

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us to recognize financial information, the structure of the market participants and industry’s competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to-face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire-based research etc.
  • In order to validate our research findings and analysis, we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Thermal Energy Storage Market 

5.1. COVID-19 Landscape: Thermal Energy Storage Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Thermal Energy Storage Market, By Technology

8.1. Thermal Energy Storage Market, by Technology, 2022-2030

8.1.1. Latent

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Thermochemical

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Sensible

8.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Thermal Energy Storage Market, By Storage Material

9.1. Thermal Energy Storage Market, by Storage Material, 2022-2030

9.1.1. Molten salts

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Water

9.1.2.1. Market Revenue and Forecast (2017-2030)

9.1.3. Phase change materials

9.1.3.1. Market Revenue and Forecast (2017-2030)

9.1.4. Others

9.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Thermal Energy Storage Market, By Application 

10.1. Thermal Energy Storage Market, by Application, 2022-2030

10.1.1. Process Heating and Cooling

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Power Generation

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. District Heating and Cooling

10.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Thermal Energy Storage Market, By End-User 

11.1. Thermal Energy Storage Market, by End-User, 2022-2030

11.1.1. Utilities

11.1.1.1. Market Revenue and Forecast (2017-2030)

11.1.2. Residential & Commercial

11.1.2.1. Market Revenue and Forecast (2017-2030)

11.1.3. Industrial

11.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 12. Global Thermal Energy Storage Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Technology (2017-2030)

12.1.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.1.3. Market Revenue and Forecast, by Application (2017-2030)

12.1.4. Market Revenue and Forecast, by End-User (2017-2030)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Technology (2017-2030)

12.1.5.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.1.5.3. Market Revenue and Forecast, by Application (2017-2030)

12.1.5.4. Market Revenue and Forecast, by End-User (2017-2030)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Technology (2017-2030)

12.1.6.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.1.6.3. Market Revenue and Forecast, by Application (2017-2030)

12.1.6.4. Market Revenue and Forecast, by End-User (2017-2030)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Technology (2017-2030)

12.2.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.2.3. Market Revenue and Forecast, by Application (2017-2030)

12.2.4. Market Revenue and Forecast, by End-User (2017-2030)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Technology (2017-2030)

12.2.5.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.2.5.3. Market Revenue and Forecast, by Application (2017-2030)

12.2.5.4. Market Revenue and Forecast, by End-User (2017-2030)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Technology (2017-2030)

12.2.6.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.2.6.3. Market Revenue and Forecast, by Application (2017-2030)

12.2.6.4. Market Revenue and Forecast, by End-User (2017-2030)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Technology (2017-2030)

12.2.7.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.2.7.3. Market Revenue and Forecast, by Application (2017-2030)

12.2.7.4. Market Revenue and Forecast, by End-User (2017-2030)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Technology (2017-2030)

12.2.8.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.2.8.3. Market Revenue and Forecast, by Application (2017-2030)

12.2.8.4. Market Revenue and Forecast, by End-User (2017-2030)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Technology (2017-2030)

12.3.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.3.3. Market Revenue and Forecast, by Application (2017-2030)

12.3.4. Market Revenue and Forecast, by End-User (2017-2030)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Technology (2017-2030)

12.3.5.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.3.5.3. Market Revenue and Forecast, by Application (2017-2030)

12.3.5.4. Market Revenue and Forecast, by End-User (2017-2030)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Technology (2017-2030)

12.3.6.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.3.6.3. Market Revenue and Forecast, by Application (2017-2030)

12.3.6.4. Market Revenue and Forecast, by End-User (2017-2030)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Technology (2017-2030)

12.3.7.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.3.7.3. Market Revenue and Forecast, by Application (2017-2030)

12.3.7.4. Market Revenue and Forecast, by End-User (2017-2030)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Technology (2017-2030)

12.3.8.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.3.8.3. Market Revenue and Forecast, by Application (2017-2030)

12.3.8.4. Market Revenue and Forecast, by End-User (2017-2030)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Technology (2017-2030)

12.4.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.4.3. Market Revenue and Forecast, by Application (2017-2030)

12.4.4. Market Revenue and Forecast, by End-User (2017-2030)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Technology (2017-2030)

12.4.5.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.4.5.3. Market Revenue and Forecast, by Application (2017-2030)

12.4.5.4. Market Revenue and Forecast, by End-User (2017-2030)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Technology (2017-2030)

12.4.6.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.4.6.3. Market Revenue and Forecast, by Application (2017-2030)

12.4.6.4. Market Revenue and Forecast, by End-User (2017-2030)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Technology (2017-2030)

12.4.7.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.4.7.3. Market Revenue and Forecast, by Application (2017-2030)

12.4.7.4. Market Revenue and Forecast, by End-User (2017-2030)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Technology (2017-2030)

12.4.8.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.4.8.3. Market Revenue and Forecast, by Application (2017-2030)

12.4.8.4. Market Revenue and Forecast, by End-User (2017-2030)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Technology (2017-2030)

12.5.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.5.3. Market Revenue and Forecast, by Application (2017-2030)

12.5.4. Market Revenue and Forecast, by End-User (2017-2030)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Technology (2017-2030)

12.5.5.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.5.5.3. Market Revenue and Forecast, by Application (2017-2030)

12.5.5.4. Market Revenue and Forecast, by End-User (2017-2030)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Technology (2017-2030)

12.5.6.2. Market Revenue and Forecast, by Storage Material (2017-2030)

12.5.6.3. Market Revenue and Forecast, by Application (2017-2030)

12.5.6.4. Market Revenue and Forecast, by End-User (2017-2030)

Chapter 13. Company Profiles

13.1. BrightSource Energy Inc.

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. SolarReserve LLC

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Caldwell Energy

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Cryogel

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Steffes Corporation

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Abengoa SA

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Terrafore Technologies LLC

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Ice Energy

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Baltimore Aircoil Company

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Download Access to a Free Copy of Our Latest Sample Report@ https://www.precedenceresearch.com/sample/2243

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Emailsales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://precedenceresearchnews.wordpress.com

Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

View all posts by Precedence Research →