Thermal Energy Storage - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Thermal Energy Storage market is accounted for $164.34 million in 2019 and is expected to reach $593.03 million by 2027 growing at a CAGR of 17.4% during the forecast period. Rising demand for electricity during peak hours, increasing commercialization of Concentrated Solar Power (CSP) plants, and demand for heating & cooling applications for smart infrastructure are the major factors driving the market growth. However, high grid connection barriers related to thermal energy storage is restraining the market growth.
Thermal energy storage systems store energy in form of hot or cold substances that can be used when requirement of energy occurs. Energy demand varies from day to night and one season to other season. Thermal energy storage helps to balance the energy requirements as it stores energy by melting, healing, cooling, and solidifying the material, when the process is reversed thermal energy is available for use.
Based on product, the sensible heat storage segment accounted for considerable market share during the forecast period due to rising demand for solar thermal systems, along with applicability across large scale heating, ventilation, and air conditioning (HVAC) systems. By geography, Europe held largest market share during forecast period due to large number of thermal energy storage systems, which are utilized for space heating, water heating, district heating and cooling, and power generation.
Some of the key players profiled in the Thermal Energy Storage Market include Abengoa Solar, Baltimore Air coil Company, Bright source Energy, Inc., Burns & McDonnell, Caldwell Energy, Caledonian MacBrayne, Calmac,, Chicago Bridge & Iron Company N.V. (CB&I), Cristopia Energy Systems, Cryogel, Dunham-Bush Holding Bhd., Evapco, Inc., FAFCO, Inc., Goss Engineering, Ice Energy, SENER Group, Solar reserve, LLC,, Steffes Corporation, DN Tanks and TAS Energy.
Types Covered:
• Concentrated Solar Power (CSP)
• Pumped Hydroelectric Energy Storage (PHES)
Storage Materials Covered:
• Water
• Molten Salts
• Phase Change Materials
• Heat
• Ice
Technologies Covered:
• Electric Thermal Storage Heaters
• Miscibility Gap Alloy Technology
• Solar Energy Storage
• Other Technologies
Applications Covered:
• District Heating & Cooling
• Ice Storage Air-Conditioning
• Power Generation
• Process Heating & Cooling
Products Covered:
• Sensible Heat Storage
• Latent Heat Storage
• Thermochemical Storage
End Users Covered:
• Commercial
• Industrial
• Residential
• Utilities
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Product Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Thermal Energy Storage Market, By Type
5.1 Introduction
5.2 Concentrated Solar Power (CSP)
5.3 Pumped Hydroelectric Energy Storage (PHES)
6 Global Thermal Energy Storage Market, By Storage Material
6.1 Introduction
6.2 Water
6.3 Molten Salts
6.3.1 Lithium Salts
6.4 Phase Change Materials (PCM)
6.5 Heat
6.5.1 Sensible Heat
6.5.2 Latent Heat
6.5.3 Thermochemical
6.6 Ice
7 Global Thermal Energy Storage Market, By Technology
7.1 Introduction
7.2 Electric Thermal Storage Heaters
7.3 Miscibility Gap Alloy Technology
7.4 Solar Energy Storage
7.5 Other Technologies
7.5.1 Cryogenic Energy Storage
7.5.2 Hot Silicon Technology
8 Global Thermal Energy Storage Market, By Application
8.1 Introduction
8.2 District Heating & Cooling
8.3 Ice Storage Air-Conditioning
8.4 Power Generation
8.5 Process Heating & Cooling
9 Global Thermal Energy Storage Market, By Product
9.1 Introduction
9.2 Sensible Heat Storage
9.2.1 Thermal Energy Storage Tanks
9.2.2 Electric Resistance Storage Water Heaters
9.2.2.1 Electric Heat Pump Water Heaters
9.2.2.2 Grid-Interactive Water Heaters
9.3 Latent Heat Storage
9.3.1 Static Ice Internal-Melt Thermal Energy Storage System (TESS)
9.3.2 Static Ice External-Melt Thermal Energy Storage System (TESS)
9.3.3 Encapsulated Ice Thermal Energy Storage System (TESS)
9.3.4 Unitary Ice Thermal Energy Storage System (TESS)
9.4 Thermochemical Storage
10 Global Thermal Energy Storage Market, By End User
10.1 Introduction
10.2 Commercial
10.3 Industrial
10.4 Residential
10.5 Utilities
11 Global Thermal Energy Storage Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Abengoa Solar
13.2 Baltimore Air coil Company
13.3 Bright source Energy, Inc.
13.4 Burns & McDonnell
13.5 Caldwell Energy
13.6 Caledonian MacBrayne
13.7 Calmac,
13.8 Chicago Bridge & Iron Company N.V. (CB&I)
13.9 Cristopia Energy Systems
13.10 Cryogel
13.11 Dunham-Bush Holding Bhd.
13.12 Evapco, Inc.
13.13 FAFCO, Inc.
13.14 Goss Engineering
13.15 Ice Energy
13.16 SENER Group
13.17 Solar reserve, LLC,
13.18 Steffes Corporation, DN Tanks
13.19 TAS Energy
List of Tables
1 Global Thermal Energy Storage Market Outlook, By Region (2018-2027) (US $MN)
2 Global Thermal Energy Storage Market Outlook, By Type (2018-2027) (US $MN)
3 Global Thermal Energy Storage Market Outlook, By Concentrated Solar Power (CSP) (2018-2027) (US $MN)
4 Global Thermal Energy Storage Market Outlook, By Pumped Hydroelectric Energy Storage (PHES) (2018-2027) (US $MN)
5 Global Thermal Energy Storage Market Outlook, By Storage Material (2018-2027) (US $MN)
6 Global Thermal Energy Storage Market Outlook, By Water (2018-2027) (US $MN)
7 Global Thermal Energy Storage Market Outlook, By Molten Salts (2018-2027) (US $MN)
8 Global Thermal Energy Storage Market Outlook, By Lithium Salts (2018-2027) (US $MN)
9 Global Thermal Energy Storage Market Outlook, By Phase Change Materials (PCM) (2018-2027) (US $MN)
10 Global Thermal Energy Storage Market Outlook, By Heat (2018-2027) (US $MN)
11 Global Thermal Energy Storage Market Outlook, By Sensible Heat (2018-2027) (US $MN)
12 Global Thermal Energy Storage Market Outlook, By Latent Heat (2018-2027) (US $MN)
13 Global Thermal Energy Storage Market Outlook, By Thermochemical (2018-2027) (US $MN)
14 Global Thermal Energy Storage Market Outlook, By Ice (2018-2027) (US $MN)
15 Global Thermal Energy Storage Market Outlook, By Technology (2018-2027) (US $MN)
16 Global Thermal Energy Storage Market Outlook, By Electric Thermal Storage Heaters (2018-2027) (US $MN)
17 Global Thermal Energy Storage Market Outlook, By Miscibility Gap Alloy Technology (2018-2027) (US $MN)
18 Global Thermal Energy Storage Market Outlook, By Solar Energy Storage (2018-2027) (US $MN)
19 Global Thermal Energy Storage Market Outlook, By Other Technologies (2018-2027) (US $MN)
20 Global Thermal Energy Storage Market Outlook, By Cryogenic Energy Storage (2018-2027) (US $MN)
21 Global Thermal Energy Storage Market Outlook, By Hot Silicon Technology (2018-2027) (US $MN)
22 Global Thermal Energy Storage Market Outlook, By Application (2018-2027) (US $MN)
23 Global Thermal Energy Storage Market Outlook, By District Heating & Cooling (2018-2027) (US $MN)
24 Global Thermal Energy Storage Market Outlook, By Ice Storage Air-Conditioning (2018-2027) (US $MN)
25 Global Thermal Energy Storage Market Outlook, By Power Generation (2018-2027) (US $MN)
26 Global Thermal Energy Storage Market Outlook, By Process Heating & Cooling (2018-2027) (US $MN)
27 Global Thermal Energy Storage Market Outlook, By Product (2018-2027) (US $MN)
28 Global Thermal Energy Storage Market Outlook, By Sensible Heat Storage (2018-2027) (US $MN)
29 Global Thermal Energy Storage Market Outlook, By Thermal Energy Storage Tanks (2018-2027) (US $MN)
30 Global Thermal Energy Storage Market Outlook, By Electric Resistance Storage Water Heaters (2018-2027) (US $MN)
31 Global Thermal Energy Storage Market Outlook, By Latent Heat Storage (2018-2027) (US $MN)
32 Global Thermal Energy Storage Market Outlook, By Static Ice Internal-Melt Thermal Energy Storage System (TESS) (2018-2027) (US $MN)
33 Global Thermal Energy Storage Market Outlook, By Static Ice External-Melt Thermal Energy Storage System (TESS) (2018-2027) (US $MN)
34 Global Thermal Energy Storage Market Outlook, By Encapsulated Ice Thermal Energy Storage System (TESS) (2018-2027) (US $MN)
35 Global Thermal Energy Storage Market Outlook, By Unitary Ice Thermal Energy Storage System (TESS) (2018-2027) (US $MN)
36 Global Thermal Energy Storage Market Outlook, By Thermochemical Storage (2018-2027) (US $MN)
37 Global Thermal Energy Storage Market Outlook, By End User (2018-2027) (US $MN)
38 Global Thermal Energy Storage Market Outlook, By Commercial (2018-2027) (US $MN)
39 Global Thermal Energy Storage Market Outlook, By Industrial (2018-2027) (US $MN)
40 Global Thermal Energy Storage Market Outlook, By Residential (2018-2027) (US $MN)
41 Global Thermal Energy Storage Market Outlook, By Utilities (2018-2027) (US $MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in the same manner as above.
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