+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Thermal Energy Storage Market Size, Share & Trends Analysis Report By Product Type, By Technology, By Storage Material, By Application, By End User, By Region, And Segment Forecasts, 2020 - 2027

  • PDF Icon

    Report

  • 110 Pages
  • June 2020
  • Region: Global
  • Grand View Research
  • ID: 4418847
Description Jump to:
Thermal Energy Storage Market Growth & Trends

The global thermal energy storage market size is expected to reach USD 10.1 billion by 2027, expanding at a CAGR of 12.6% from 2020 to 2027. Rising demand for cost competitive and efficient energy sources is likely to boost the market growth over the forecast period.

The market is primarily driven by the use of thermal energy storage as a major renewable option for electricity generation. Heat stored by seasonal and short-term thermal energy storage systems helps balance the variations in the production and distribution of renewable electricity in a cost-effective manner. Moreover, it is a sustainable energy source and causes no adverse environmental impact. Growing adoption of renewable energy is expected to positively influence the market growth.

Several thermal energy storage equipment manufacturers and service providers adopt strategies, such as collaborations, joint ventures, partnerships, agreements, and new product development, to cater to the changing technological requirements of different end users, thereby enhancing their foothold across the market. Major manufacturers include Evapco Inc.; Ice Energy; Caldwell Energy Company; and Abengoa Solar, S.A. The manufactured systems include ice thermal energy systems, heating terminals, heating pump chillers, heat exchangers, solar steam systems, air conditioning systems, heliostats, and parabolic trough collectors.

The global market is characterized by high competition and market players are focusing on forward integration by establishing their presence in manufacturing as well as distribution. Distributors in the value chain include thermal energy storage stations and plants, combined heat power (CHP) plants, microgrids, and cogeneration power plants as well as district energy, district heating and cooling, and process cooling.

Thermal Energy Storage Market Report Highlights
  • Molten salt technology occupied the largest revenue share in 2019 owing to its high technological efficiency and usage in several solar power projects
  • Ice-based technology is projected to witness significant growth over the forecast period owing to growing applications of ice storage air conditioning
  • By product type, sensible heat storage occupied the largest revenue share in 2019 owing to its applicability across large scale heating, ventilation, and air conditioning (HVAC) systems
  • Asia Pacific is expected to be the fastest growing regional market over the forecast period owing to growing demand for reliable power supply across developing economies, such as China and India.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Information procurement
1.2.1. Purchased database
1.2.2. Internal database
1.2.3. Secondary sources &third-party perspectives
1.2.4. Primary research
1.3. Information analysis
1.3.1. Data analysis models
1.4. Market formulation & data visualization
1.5. Data validation & publishing
Chapter 2. Executive SummaryChapter 3. Market Definitions
Chapter 4. TES Market Variables, Trends & Scope
4.1. Market Size and Growth Prospects
4.2. Industry Value Chain Analysis
4.3. Market Dynamics
4.3.1. Market Driver Analysis
4.3.1.1. Increasing Demand For Efficient And Cost-Competitive Energy Resources
4.3.1.2. Increasing development of variable energy sources
4.3.2. Market Restraint/ Challenges Analysis
4.3.2.1. Lack Of Long-Term Energy Storage
4.3.2.2. High costs associated with TES technology
4.4. Penetration & Growth Prospect Mapping
4.5. Business Environment Analysis Tools
4.5.1. Industry Analysis - Porter’s
4.5.2. PEST Analysis
4.6. Company Market Share Analysis, 2019
Chapter 5. TES Market Product Type Outlook
5.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Revenue, USD Million)
5.2. Sensible Heat Storage
5.2.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
5.3. Latent Heat Storage
5.3.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
5.4. Thermochemical Heat Storage
5.4.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
Chapter 6. TES Market Technology Outlook
6.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Revenue, USD Million)
6.2. Molten Salt Technology
6.2.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
6.3. Electric Thermal Storage Heaters
6.3.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
6.4. Solar Energy Storage
6.4.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
6.5. Ice-based Technology
6.5.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
6.6. Miscibility Gap Alloy Technology
6.6.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
Chapter 7. TES Market Storage Material Outlook
7.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Revenue, USD Million)
7.2. Molten Salt
7.2.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
7.3. Phase Change Material
7.3.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
7.4. Water
7.4.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
Chapter 8. TES Market Application Outlook
8.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Revenue, USD Million)
8.2. Process Heating & Cooling
8.2.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
8.3. District Heating & Cooling
8.3.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
8.4. Power Generation
8.4.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
8.5. Ice storage air-conditioning
8.5.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
8.6. Others
8.6.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
Chapter 9. TES Market End-user Outlook
9.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Revenue, USD Million)
9.2. Industrial
9.2.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
9.3. Utilities
9.3.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
9.4. Residential & Commercial
9.4.1. Market estimates and forecasts by region, 2016 - 2027 (Revenue, USD Million)
Chapter 10. TES Regional Outlook
10.1. TES Market, By Region, 2019 & 2027
10.2. North America
10.2.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.2.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.2.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.2.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.2.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.2.6. U.S.
10.2.6.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.2.6.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.2.6.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.2.6.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.2.6.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.2.7. Canada
10.2.7.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.2.7.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.2.7.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.2.7.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.2.7.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.2.8. Mexico
10.2.8.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.2.8.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.2.8.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.2.8.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.2.8.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.3. Europe
10.3.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.3.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.3.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.3.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.3.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.3.6. U.K.
10.3.6.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.3.6.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.3.6.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.3.6.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.3.6.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.3.7. Russia
10.3.7.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.3.7.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.3.7.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.3.7.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.3.7.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.3.8. Germany
10.3.8.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.3.8.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.3.8.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.3.8.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.3.8.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.3.9. Spain
10.3.9.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.3.9.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.3.9.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.3.9.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.3.9.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.4. Asia Pacific
10.4.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.4.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.4.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.4.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.4.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.4.6. China
10.4.6.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.4.6.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.4.6.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.4.6.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.4.6.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.4.7. India
10.4.7.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.4.7.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.4.7.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.4.7.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.4.7.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.4.8. Japan
10.4.8.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.4.8.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.4.8.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.4.8.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.4.8.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.4.9. South Korea
10.4.9.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.4.9.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.4.9.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.4.9.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.4.9.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.5. Central & South America
10.5.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.5.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.5.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.5.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.5.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.5.6. Brazil
10.5.6.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.5.6.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.5.6.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.5.6.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.5.6.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.6. Middle East and Africa (MEA)
10.6.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.6.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.6.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.6.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.6.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
10.6.6. Saudi Arabia
10.6.6.1. Market estimates and forecasts by product type, 2016 - 2027 (Revenue, USD Million)
10.6.6.2. Market estimates and forecasts by technology, 2016 - 2027 (Revenue, USD Million)
10.6.6.3. Market estimates and forecasts by storage material, 2016 - 2027 (Revenue, USD Million)
10.6.6.4. Market estimates and forecasts by application, 2016 - 2027 (Revenue, USD Million)
10.6.6.5. Market estimates and forecasts by end user, 2016 - 2027 (Revenue, USD Million)
Chapter 11. Competitive Landscape
11.1. BrightSource Energy Inc.
11.1.1. Company overview
11.1.2. Financial performance
11.1.3. Product benchmarking
11.1.4. Recent developments
11.2. Abengoa SA
11.2.1. Company overview
11.2.2. Financial performance
11.2.3. Product benchmarking
11.2.4. Recent developments
11.3. Baltimore Aircoil Company
11.3.1. Company overview
11.3.2. Financial performance
11.3.3. Product benchmarking
11.3.4. Recent developments
11.4. Terrafore Technologies LLC
11.4.1. Company overview
11.4.2. Financial performance
11.4.3. Product benchmarking
11.4.4. Recent developments
11.5. SolarReserve LLC
11.5.1. Company overview
11.5.2. Product benchmarking
11.5.3. Product benchmarking
11.5.4. Recent developments
11.6. Dunham-Bush Holding Bhd.
11.6.1. Company overview
11.6.2. Financial performance
11.6.3. Product benchmarking
11.6.4. Recent developments
11.7. Caldwell Energy Company
11.7.1. Company overview
11.7.2. Financial performance
11.7.3. Product benchmarking
11.7.4. Recent developments
11.8. DC Pro Engineering LLC
11.8.1. Company overview
11.8.2. Financial performance
11.8.3. Product benchmarking
11.8.4. Recent developments
11.9. Chicago Bridge & Iron Company N.V. (CB&I)
11.9.1. Company overview
11.9.2. Financial performance
11.9.3. Product benchmarking
11.9.4. Recent developments
11.10. Burns & McDonnell, Inc.
11.10.1. Company overview
11.10.2. Financial performance
11.10.3. Product benchmarking
11.10.4. Recent developments

Companies Mentioned

  • BrightSource Energy Inc.
  • Abengoa SA
  • Baltimore Aircoil Company
  • Terrafore Technologies LLC
  • SolarReserve LLC
  • Dunham-Bush Holding Bhd.
  • Caldwell Energy Company
  • DC Pro Engineering LLC
  • Chicago Bridge & Iron Company N.V. (CB&I)
  • Burns & McDonnell, Inc.

Methodology

Loading
LOADING...

Related Topics

Related Reports

Thermal Energy Storage Market by Material, Technology, Application, End User - Global Forecast 2025-2030 - Product Image

Thermal Energy Storage Market by Material, Technology, Application, End User - Global Forecast 2025-2030

  • Report
  • 180 Pages
  • Global
From
The Global Market for Thermal Energy Storage 2024-2035 - Product Image

The Global Market for Thermal Energy Storage 2024-2035

  • Report
  • 270 Pages
  • Global
From
Thermal Energy Storage - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029 - Product Image

Thermal Energy Storage - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

  • Report
  • 125 Pages
  • Global
From
Thermal Energy Storage Market by Technology (Sensible Heat, Latent Heat, Thermochemical Heat), End-user (Commercial & Industrial, Utilities, Residential) and Region - Global Forecast Up to 2032 - Product Image

Thermal Energy Storage Market by Technology (Sensible Heat, Latent Heat, Thermochemical Heat), End-user (Commercial & Industrial, Utilities, Residential) and Region - Global Forecast Up to 2032

  • Report
  • Global
From
Thermal Energy Storage (TES) - Global Strategic Business Report - Product Image

Thermal Energy Storage (TES) - Global Strategic Business Report

  • Report
  • 415 Pages
  • Global
From
Copyright © 2002-2024 Research and Markets. All Rights Reserved.