Thermal Energy Storage Market size was valued at USD 4.38 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 12%.
Changing preferences for renewable energy generation, including concentrated solar power generation, and increasing demand for thermal energy storage (TES) systems in HVAC are one of the key drivers driving industry growth. Increasing demand for improved energy efficiency along with continuous energy utilization efforts will have a positive impact on the demand for thermal energy storage.
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Key Market Players
Abengoa Solar, Burns & McDonnell, SolarReserve, BrightSource Energy, Calmac, MAN Energy Solutions, and Baltimore Air Coil
Based on the storage material:
- Water
- Molten Salts
- Phase Change Materials
- Others
Based on the application:
- Power generation
- District Heating & Cooling
- Process Heating & Cooling
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Scope of the Report
The research study analyzes the global Thermal Energy Storage industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Thermal Energy Storage Market Report
1. What was the Thermal Energy Storage Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Thermal Energy Storage Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Thermal Energy Storage Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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