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Thermal Energy Storage Market By Storage Material (Molten Salt, Phase Change Material (PCM), Water), By Application (Process Heating & Cooling, Power Generation, District Heating & Cooling ) By Technology (Latent Heat Storage Technology, Thermochemical Storage Technology, Sensible Heat Storage Technology) - Global Opportunity Analysis and Industry Forecast, 2018-2023

 Energy and Power

Report Overview

GLOBAL THERMAL ENERGY STORAGE MARKET was valued at USD 3.72 Billion for the year 2017. Thermal Energy Storage Market is further expected to grow at a CAGR of 10.78% from 2018 to reach USD 6.88 Billion by the year 2023. Middle-East & Africa region holds the highest market share in 2017. The Middle-East & Africa region is also considered as the fastest growing market in the forecasted period. UAE is the major market in 2017 at country level and it is also further anticipated to grow at a steady pace in the next 5 years.

Brightsource Energy Inc. (US), Solarreserve LLC (US), Abengoa Solar S.A. (Spain) are some of the top players in the Thermal Energy Storage Market with Abengoa Solar S.A. holding a substantial market share in 2017. Better global reach at an operational level is the main reason for holding this market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.


             Rising demand for continuous power supply


             High cost for the use of thermal energy storage system


             The rise in the implementation of renewable technology


             Lack of skilled personnel

The segmentation is done on the basis of Technology include Latent Heat Storage Technology, Thermochemical Storage Technology, and Sensible Heat Storage Technology of which the Sensible Heat Storage segment is expected to hold the highest market share during the forecast period.

Segmentation done on the basis of Application includes Process Heating & Cooling, Power Generation, District Heating & Cooling segment of which Process Heating & Cooling segment is expected to grow at the highest CAGR during the forecasted period.

Key Benefits for Stakeholders

Thermal Energy Storage System Providers

Research and Consulting organization

Government bodies

End-use industries

Regulatory bodies, policymakers and consumers.

By Storage Material

Molten Salt

Phase Change Material (PCM)


By Application

Process Heating & Cooling

Power Generation

District Heating & Cooling

By Technology

Latent Heat Storage Technology

Thermochemical Storage Technology

Sensible Heat Storage Technology

By Region

North America




Key Market Players

Brightsource Energy, Inc.

Caldwell Energy

Solarreserve, LLC

Abengoa Solar, S.A.

Burns & Mcdonnell


Cristopia Energy Systems


Dunham-Bush Holding Bhd.

Goss Engineering

Evapco, Inc.

Steffes Corporation  

(Another brief information of 13 companies will be provided in the report)

Research Methodology:

Genesis Market Insights follows in-depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques –

  1. Raw Market Data is collected and compared with the Existing in-house Data on a broad front.
  2. Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
  3. To avoid bias, we filter the collected data collected from authenticated sources.
  4. GMI has a well proven Statistical Modeling System for estimates and forecasts.
  5. Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
  6. Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.

Detailed customization is also available for you. Further, if the report listed above does not meet your key requirements. Our customized research report will analytically cover the required market information you need which will help you to plan your business decisions.

Table Of Content

1. Introduction

1.1 Market Vision

       1.1.1 Market Definition

       1.1.2 Market Scope

1.2 Limitations

1.3 Stakeholders

2. Research Methodology

2.1. Research Process

       2.1.1. Secondary Research

    Key Data from Secondary Research

       2.1.2. Primary Research

    Key Data from Primary Research

    Breakdowns of Primary Interviews

2.2. Market Size Estimation

       2.2.1. Bottoms-Up Approach

       2.2.2. Top-Down Approach

       2.2.3. Annual Revenue Process

2.3. Data Triangulation 

2.4. Research Assumptions 

       2.4.1. Assumption

3. Executive Summary

4. Market Overview

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

4.6. Regulations

4.7. Supply Chain/Value Chain Analysis

4.8. Patent & Standards

5. Industry Trends

5.1. Introduction

5.2. Porter’s Five Forces Analysis

       5.2.1. Threat of New Entrants

       5.2.2. Threat of Substitutes

       5.2.3. Bargaining Power of Buyers

       5.2.4. Bargaining Power of Suppliers

       5.2.5. Intensity of Competitive Rivalry

6. Thermal Energy Storage Market, By Storage Material

6.1. Molten Salt

6.2. Phase Change Material (PCM)

6.3. Water

7. Thermal Energy Storage Market, By Application

7.1. Process Heating & Cooling

7.2. Power Generation

7.3. District Heating & Cooling

8. Thermal Energy Storage Market, By Technology

8.1. Latent Heat Storage Technology

8.2. Thermochemical Storage Technology

8.3. Sensible Heat Storage Technology

9. Geographical Analysis

9.1. Introduction

9.2. North America

       9.2.1. U.S.

       9.2.2. Canada

       9.2.3. Mexico

9.3. Europe

       9.3.1. U.K.

       9.3.2. Germany

       9.3.3. Russia

       9.3.4. RoE

9.4. Asia Pacific

       9.4.1. China

       9.4.2. Japan

       9.4.3. RoAPAC

9.5. RoW

       9.5.1. Latin America

       9.5.2. Middle East and Africa



        South Africa

        Rest of Middle East & Africa

10. Company Profiles

(Business Overview, Financial Overview, Product write Up, Recent Developments)

10.1. Brightsource Energy, Inc.

10.2. Caldwell Energy

10.3. Solarreserve, LLC

10.4. Abengoa Solar, S.A.

10.5. Burns & Mcdonnell

10.6. Calmac

10.7. Cristopia Energy Systems

10.8. Cryogel

10.9. Dunham-Bush Holding Bhd.

10.10. Goss Engineering

10.11. Evapco, Inc.

10.12. Steffes Corporation

(Another brief information of 13 companies will provided in report)

11. Competitive Analysis

11.1. Introduction

11.2. Market Positioning of Key Players

11.3 Competitive Strategies Adopted by Leading Players

        11.3.1. Investments & Expansions

        11.3.2. New Product Launches

        11.3.3. Mergers & Acquisitions

        11.3.4. Agreements, Joint Ventures, and Partnerships

12. Appendix

12.1. Questionnaire

12.2. Available Customizations 

12.3. Upcoming Events (Trade Fair, Exhibitions, Conferences)


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