Thermal Energy Storage Market
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PUBLISHED: 2021 ID: SMRC20373
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Thermal Energy Storage - Global Market Outlook (2019-2027)

4.6 (38 reviews)
4.6 (38 reviews)
Published: 2021 ID: SMRC20373

This report covers the impact of COVID-19 on this global market
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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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