The global demand for Thermal Energy Storage Market is presumed to reach the market size of nearly USD 11.48 BN by 2030 from USD 5.25 BN in 2022 with a CAGR of 10.29% under the study period 2023 - 2030.
Thermal energy storage (TES) technology involves storing thermal energy in different forms for later use. It's a method of capturing and retaining heat or cold for use at a last time, providing flexibility in managing energy resources and enhancing energy efficiency.
The Thermal energy storage market is growing due to several influential factors. Primarily, the increasing focus on energy efficiency across industries and buildings drives the adopting of TES systems. These technologies store excess energy during low-demand periods and release it during high-demand times, reducing overall energy consumption. The integration of intermittent renewable energy sources has amplified the need for TES systems. These systems facilitate the storage of surplus energy generated by renewables for use when these sources are not actively producing electricity, enhancing grid stability and reliability. Government policies and incentives promoting energy efficiency and renewable energy adoption encourage businesses to invest in thermal energy storage technologies. Industries with high energy demands and the building sector are increasingly leveraging TES systems to optimize processes, reduce costs, and provide sustainable heating and cooling solutions. Continuous technological advancements are driving market growth by improving the efficiency and cost-effectiveness of thermal energy storage systems. Collectively, these factors are steering the expansion of the TES market, offering more sustainable and efficient energy solutions across various sectors.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of thermal energy storage. The growth and trends of thermal energy storage industry provide a holistic approach to this study.
This section of the thermal energy storage market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
By Technology
By Storage Material
By Application
By End-User
This section covers the regional outlook, which accentuates current and future demand for the Thermal Energy Storage market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Thermal Energy Storage market include BrightSource Energy Inc., SolarReserve LLC, Abengoa SA, Terrafore Technologies LLC, Baltimore Aircoil Company, Ice Energy, Caldwell Energy, Cryogel, Steffes Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . THERMAL ENERGY STORAGE – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Product Type
3.7.2 Market Attractiveness Analysis By Technology
3.7.3 Market Attractiveness Analysis By Storage Material
3.7.4 Market Attractiveness Analysis By Application
3.7.5 Market Attractiveness Analysis By End-user
3.7.6 Market Attractiveness Analysis By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . GLOBAL THERMAL ENERGY STORAGE MARKET ANALYSIS BY PRODUCT TYPE
5.1 Overview by Product Type
5.2 Historical and Forecast Data
5.3 Analysis by Product Type
5.4 Sensible Heat Storage Historic and Forecast Sales by Regions
5.5 Latent Heat Storage Historic and Forecast Sales by Regions
5.6 Thermochemical Heat Storage Historic and Forecast Sales by Regions
6 . GLOBAL THERMAL ENERGY STORAGE MARKET ANALYSIS BY TECHNOLOGY
6.1 Overview by Technology
6.2 Historical and Forecast Data
6.3 Analysis by Technology
6.4 Molten Salt Technology H ...