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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.

Drivers:

             Rising demand for continuous power supply

Restraints:

             High cost for the use of thermal energy storage system

Opportunities:

             The rise in the implementation of renewable technology

Challenges:

             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)

Water

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

Europe

Asia-Pacific

ROW

Key Market Players

Brightsource Energy, Inc.

Caldwell Energy

Solarreserve, LLC

Abengoa Solar, S.A.

Burns & Mcdonnell

Calmac

Cristopia Energy Systems

Cryogel

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

             2.1.1.1. Key Data from Secondary Research

       2.1.2. Primary Research

             2.1.2.1. Key Data from Primary Research

             2.1.2.2. 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

                 9.5.2.1. UAE

                 9.5.2.2. Morocco

                 9.5.2.3. South Africa

                 9.5.2.4. 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)

 

List of Tables (61 Tables)

Table 1 Thermal Energy Storage Market Size, By Type, 2018–2023(USD Million)
Table 2 Sensible Heat: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 3 Global Sensible: Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 4 Latent Heat: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 5 Thermochemical Storage: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 6 Global Latent & Thermochemical: Thermal Energy Storage, By Storage Material, 2018–2023(USD Million)
Table 7 Global Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 8 Water: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 9 Molten Salt: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 10 Phase Change Material: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 11 Others: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 12 Thermal Energy Storage Market Size, By Application, 2018–2023(USD Million)
Table 13 Power Generation: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 14 District Heating & Cooling: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 15 Process Heating & Cooling: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 16 Thermal Energy Storage Market Size, By End-User, 2018–2023(USD Million)
Table 17 Residential & Commercial: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 18 Utilities: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 19 Industrial: Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 20 Thermal Energy Storage Market Size, By Region, 2018–2023(USD Million)
Table 21 Top 5 Countries: Thermal Energy Storage Market, 2018–2023(USD Million)
Table 22 Sensible Thermal Energy Storage Market Size, By Top 5 Countries, 2018–2023(USD Million)
Table 23 Asia-Pacific: Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 24 Asia-Pacific: Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 25 Asia-Pacific Thermal Energy Storage Market Size, By Application, 2018–2023(USD Million)
Table 26 Asia-Pacific Thermal Energy Storage Market Size, By End-User, 2018–2023(USD Million)
Table 27 Asia-Pacific Thermal Energy Storage Market Size, By Country, 2018–2023(USD Million)
Table 28 China Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 29 Indian Thermal Energy Storage Market, By Technology, 2018–2023(USD Million)
Table 30 Australian Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 31 Rest of Asia-Pacific Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 32 European Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 33 European Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 34 European Thermal Energy Storage Market Size, By Application, 2018–2023(USD Million)
Table 35 European Thermal Energy Storage Market Size, By End-User, 2018–2023(USD Million)
Table 36 European Thermal Energy Storage Market Size, By Country, 2018–2023(USD Million)
Table 37 France Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 38 German Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 39 Spain Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 40 U.K. Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 41 Italian Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 42 Rest of Europe Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 43 Americas Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 44 Americas: Sensible Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 45 Americas Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 46 American Thermal Energy Storage Market Size, By Application, 2018–2023(USD Million)
Table 47 American Thermal Energy Storage Market Size, By End-User, 2018–2023(USD Million)
Table 48 American Thermal Energy Storage Market Size, By Country, 2018–2023(USD Million)
Table 49 U.S. Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 50 Canadian Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 51 Chile Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 52 Rest of Americas Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 53 Middle East & African Thermal Energy Storage Market Size, By Storage Material, 2018–2023(USD Million)
Table 54 Middle East & African Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 55 Middle East & African Thermal Energy Storage Market Size, By Application, 2018–2023(USD Million)
Table 56 Middle East & African Thermal Energy Storage Market Size, By End-User, 2018–2023(USD Million)
Table 57 Middle East & African Thermal Energy Storage Market Size, By Country, 2018–2023(USD Million)
Table 58 South African Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 59 UAE Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 60 Morocco Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
Table 61 Rest of Middle East & African Thermal Energy Storage Market Size, By Technology, 2018–2023(USD Million)
 
 
List of Figures (35 Figures)
 
Figure 1 Thermal Energy Storage Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Americas Accounted for the Largest Market Share in the Thermal Energy Storage Market in 2016


Figure 7 Middle East & Africa Projected to Lead the Thermal Energy Storage Market From 2018 to 2023
Figure 8 Sensible Heat Segment is Expected to Dominate the Thermal Energy Storage Market By 2022
Figure 9 District Heating & Cooling Segment is Expected to Dominate the Thermal Energy Storage Market, 2018–2023
Figure 10 Residential & Commercial End-User Segment is Expected to Lead the Thermal Energy Storage Market, 2018–2023
Figure 11 Company Development Comparison, 2014–2017
Figure 12 Attractive Market Opportunities in the Thermal Energy Storage Market During the Forecast Period
Figure 13 Sensible Heat Storage Segment Dominates the Thermal Energy Storage Market During the Forecast Period
Figure 14 Molten Salt Segment is Expected to Dominate the Thermal Energy Storage Market Till 2023
Figure 15 District Heating & Cooling is the Largest End-User Segment in the Thermal Energy Storage Market, 2018–2023
Figure 16 Latent Heat Thermal Energy Storage Segment Held the Largest Market Share in 2018
Figure 17 Middle East & Africa is Projected to Grow at the Highest Growth Rate From 2018 to 2023
Figure 18 Thermal Energy Storage Market Segmentation
Figure 19 Rising Impetus on Renewable Energy Generation is the Major Driver for the Thermal Energy Storage Market
Figure 20 Global Annual CSP Capacity Additions (Mw), 2018–2023
Figure 21 The Sensible Heat Segment is Expected to Dominate the Thermal Energy Storage Market By 2023
Figure 22 Molten Salt Segment is Expected to Dominate the Thermal Energy Storage Market By 2023
Figure 23 The District Heating & Cooling Segment is Expected to Dominate the Thermal Energy Storage Market By 2023
Figure 24 Residential & Commercial End-User Segment is Expected to Dominate the Thermal Energy Storage Market By 2023
Figure 25 Thermal Energy Storage Market Size, By Region (USD Million)
Figure 26 Regional Snapshot: Asia-Pacific Offered Attractive Market Opportunities in 2018
Figure 27 Regional Snapshot: Middle East & Africa Thermal Energy Storage Market
Figure 28 Companies Adopted Contracts & Agreements and Joint Ventures & Collaborations to Capture the Market
Figure 29 Market Ranking, 2018
Figure 30 Battle for Market Share: Contracts & Agreements Was the Key Strategy, 2018–2023
Figure 31 Market Evaluation Framework: Contracts & Agreements Fueled Growth From 2018 to 2023
Figure 32 Vendor Dive Matrix
Figure 33 Product Strategy Comparison
Figure 34 Business Strategy Comparison
Figure 35 Regional Presence of the Top Five Players

 

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