Thermal Energy Storage Market
Global Thermal Energy Storage Market Size, Share & Trends Analysis Report by Technology (Sensible, Latent and Thermochemical), by Application (Power Generation, District Heating & Cooling and Process Heating & Cooling), Forecast 2019-2025 Update Available - Forecast 2024-2030
The thermal energy storage market is anticipated to grow at a CAGR of more than 8.0% during the forecast period. The thermal energy storage industry is anticipated to witness high growth with the growing emphasis on technology that supports a decrease in the emission of greenhouse gases and rising energy dependency on renewable energy sources expected to fuel the demand for thermal energy storage systems. Moreover, emerging technology such as latent heat technology is anticipated to boost the demand for the market during the forecast period.
Growing adopting renewable energy sources such as solar and wind energy supported by government and rising demand for continuous power supply is fueling the market growth. Further, there is a significant demand forthe thermal energy storage in ventilation, heating, air conditioning (HVAC) for district heating & cooling is anticipated to fuel the market growth. However, the lack of highly skilled technicians to maintain the system and additional cost associated with the use of a thermal energy storage system is one of the restraining factors for the market growth over the forecast period.
Segmental Outlook
The global thermal energy storage market is segmented on the basis of technology, and application. Based on technology, the market is sub-segmented into latent, sensible and thermochemical. Based on application, the market is sub-segmented into power generation, district heating & cooling and process heating & cooling.
Power Generation Segment to Hold a Significant Market Value
Power generation is anticipated to hold a significant market share during the forecast period. Excess generation available at the low demand time that can be used to charge a thermal energy storage system in order to raise effective generation capacity during high demand periods leads the demand for thermal energy storage on the power generation industry. Energy storage technology enables the grid operators in managing variable energy generation from renewables such as wind and solar energy. Utilities use energy storage technologies in a range of applications includes time shifts and supply capacity that results to meet the demand-supply gap efficiently, thus, propelling the growth of the thermal energy storage market.
Global Thermal Energy Storage Market Share by End-Users, 2018 (%)
Regional Outlooks
The thermal energy storage market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World. North America is expected to hold a considerable market share in the thermal energy storage market during the forecast period due to the high energy storage capacity, the significant presence of major players in the region. Moreover, rising awareness related to the benefits of renewable energy sources in the consumers is a factor boosting the growth of the market in North America. whereas, the market in Asia-Pacific is anticipated to be the fastest growth rate in the thermal energy storage market due to the rise in energy use, upsurge in the demand for renewable energy sources and increase in population.
Global Thermal Energy Storage Market Growth, by Region 2019-2025
Market Players Outlook
The key players of the thermal energy storage market include Abengoa S.A., Axiom Exergy, Inc., Baltimore Aircoil Co., Brightsource Energy, Inc., Burns & McDonnell, Inc., Caldwell Energy, DN Tanks, Inc, McDermott International, Inc., SolarReserve, LLC, and Terrafore Technologies LLC. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global thermal energy storagemarket. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Burns & McDonnell, Inc.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. Axiom Exergy, Inc.
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Abengoa S.A.
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. McDermott International, Inc
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
3.3.5. Trane Technologies (Ingersoll Rand)
3.3.5.1. Overview
3.3.5.2. Financial Analysis
3.3.5.3. SWOT Analysis
3.3.5.4. Recent Developments
4. Market Determinants
4.1 Motivators
4.2 Restraints
4.1. Opportunities
5. Market Segmentation
5.1. Global Thermal Energy Storage Market by Technology
5.1.1. Sensible Storage
5.1.2. LatentStorage
5.1.3. ThermochemicalStorage
5.2. Global Thermal Energy Storage Market by Application
5.2.1. Power Generation
5.2.2. District Heating & Cooling
5.2.3. Process Heating & Cooling
6. Regional Analysis
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Abengoa S.A.
7.2. Axiom Exergy, Inc.
7.3. Baltimore Aircoil Co.
7.4. Brightsource Energy, Inc.
7.5. Burns & McDonnell, Inc.
7.6. Caldwell Energy Co.
7.7. Cryogel Thermal Energy Storage
7.8. DN Tanks, Inc.
7.9. Dunham-Bush Holding Bhd
7.10. EVAPCO, Inc.
7.11. FAFCO, Inc.
7.12. FinetexEnE, Inc.
7.13. Goss Engineering
7.14. Johnson Control, Inc.
7.15. McDermott International, Inc.
7.16. SolarReserve, LLC
7.17. Steffes, LLC
7.18. Sunwell Technologies, Inc.
7.19. TAS Energy, Inc.
7.20. Terrafore Technologies LLC
7.21. Trane Technologies (Ingersoll Rand)
1. GLOBAL THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
2. GLOBAL SENSIBLE MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
3. GLOBAL LATENT MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
4. GLOBAL THERMOCHEMICAL MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
5. GLOBAL THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
6. GLOBAL POWER GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
7. GLOBAL DISTRICT HEATING & COOLING MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
8. GLOBAL PROCESS HEATING & COOLING MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
9. NORTH AMERICAN THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
10. NORTH AMERICAN THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
11. NORTH AMERICAN THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
12. EUROPEAN THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
13. EUROPEAN THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
14. EUROPEAN THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
15. ASIA-PACIFIC THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
16. ASIA-PACIFIC THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
17. ASIA-PACIFIC THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
18. REST OF THE WORLD THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
19. REST OF THE WORLD THERMAL ENERGY STORAGE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
1. GLOBAL THERMAL ENERGY STORAGE MARKET SHARE BY TECHNOLOGY, 2018 VS 2025 (%)
2. GLOBAL THERMAL ENERGY STORAGE MARKET SHARE BY APPLICATION, 2018 VS 2025 (%)
3. GLOBAL THERMAL ENERGY STORAGE MARKET SHARE BY GEOGRAPHY, 2018 VS 2025 (%)
4. THE US THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
5. CANADA THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
6. UK THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
7. FRANCE THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
8. GERMANY THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
9. ITALY THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
10. SPAIN THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
11. ROE THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
12. INDIA THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
13. CHINA THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
14. JAPAN THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
15. REST OF ASIA-PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
16. REST OF THE WORLD THERMAL ENERGY STORAGE MARKET SIZE, 2018-2025 ($ MILLION)
