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Market Research Report

Thermal Energy Storage (TES)

Published by Global Industry Analysts, Inc. Product code 341964
Published Content info 245 Pages
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Thermal Energy Storage (TES)
Published: January 1, 2018 Content info: 245 Pages
Description

This report analyzes the worldwide markets for Thermal Energy Storage (TES) in US$ Million and Megawatts (Capacity Installations). The report further analyzes the Global and regional markets in terms of volume (Capacity Installations in Megawatts) by the following Technology Segments: Sensible Heat, and Others. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2024. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 47 companies including many key and niche players such as -

Abengoa Solar, S.A.
AREVA NP SAS
Baltimore Aircoil Company, Inc.
BrightSource Energy, Inc.
Burns & McDonnell, Inc.
Caldwell Energy Company

Table of Contents
Product Code: MCP-7021

Table of Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations

Disclaimers

Data Interpretation & Reporting Level

  • Quantitative Techniques & Analytics

Product Definitions and Scope of Study

  • Sensible Heat Storage
  • Others
    • Thermo Chemical Heat Storage
    • Latent Heat Storage

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW

  • Thermal Energy Storage (TES): Efficient and Economical Capture of Energy during Lean Period for Fueling Cooling Needs of the Peak Period
  • Superior Attributes and Multiple Benefits of Thermal Energy Storage Technology Drive Widespread Market Adoption
  • Thermal Energy Storage Stay Relevant Despite Rising Popularity of Battery Storage
  • Major Benefits of Thermal Storage
    • Cost-Effective
    • Energy Efficient
    • Ancillary Benefits
    • Grid Benefits
    • Benefits to Service Providers
    • Social and Environmental Benefits
  • Expanding Share of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: The Fundamental Growth Driver
    • Table 1: Global Energy Production by Energy Source (2017, 2020, 2030 and 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables (includes corresponding Graph/Chart)
    • Table 2: Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
  • Booming Renewable Energy Sector Benefits Penetration of Energy Storage Technologies
    • Major Growth Driving Factors for Energy Storage
  • Energy Storage Technologies: Classification
    • Key Energy Storage Technologies & Applications for Electrical, Chemical, Electrochemical, Mechanical and Thermal Energy
  • Thermal Energy Storage Vital for Development Efficient, Disruption-Resistant Grids
  • Global Market Outlook
  • Developing Regions of the World Offers Huge Untapped Market Growth Potential for TES
    • Asia-Pacific
    • Eastern Europe and Central Asia
    • Latin America and Caribbean
    • Sub-Saharan Africa
    • Middle East and North Africa (MENA)

2. MARKET TRENDS, ISSUES & DRIVERS

  • Growing Investments in Renewable Energy Projects Drive Strong Demand for Thermal Energy Storage Solutions
    • Table 3: Renewable Investments and Deployed Capacity Worldwide (2015 & 2017): Investments (US$ Billion) and Breakdown of Deployed Capacity (GW) for Solar, Wind, Hydropower, and Biomass (includes corresponding Graph/Chart)
    • Table 4: Global Number of Grid Connected Energy Storage Projects by Region/Country: 2017 (includes corresponding Graph/Chart)
    • Table 5: Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2018 (includes corresponding Graph/Chart)
    • Table 6: Global Grid Connected Energy Storage by Technology: Percentage Breakdown of Installed Capacity for 2014, 2017 and 2020 (includes corresponding Graph/Chart)
  • Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits Market Expansion
  • TES at Grid and Distributed Energy Levels
    • Table 7: Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040 (includes corresponding Graph/Chart)
  • TES Systems' Efficiency in Managing Inconsistencies of Wind and Solar Power Generation Spurs Market Demand
    • Table 8: Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030 (includes corresponding Graph/Chart)
    • Table 9: Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022 (includes corresponding Graph/Chart)
  • Thermal Energy Storage Pairing with Solar Generation: Opportunities Galore for Electric Utilities
  • Important Role of TES Systems in Commercialization of Solar Thermal Energy Plants
  • Despite Competition from Latent Heat Storage, Sensible Heat Technology Sustains Dominance
    • Table 10: Various Thermal Storage Technologies: Brief Details of Efficiency, Storage Time, Power and Capacity
  • Growing Trend towards Green/LEED Buildings Offer Lucrative Market Growth Opportunities
  • TES Techniques Offer Increased Efficiency in Buildings
  • Phase Change Materials-Based Systems Gain Prominence over Molten Salt-Based Thermal Storage
  • Demand for TES in Residential-Commercial HVAC and Commercial Refrigeration Systems on the Rise
  • TES' Energy Efficiency Augments its Application
  • TES Set to Address Peak Demand for Air Conditioning
  • Utility Load Factors
  • Stable and Secure Grid
  • Impact of Climate Change on Air Conditioning
  • Developments in Controls
  • Thermal Energy Storage Offers Cost and Energy Savings to the Cold Storage Sector
  • Evolving IoT Standard and Upcoming Smart Cities to Fuel Large-Scale Adoption
    • Table 11: Number of Smart Cities Worldwide (2013-2020) (includes corresponding Graph/Chart)
    • Table 12: Number of Smart Cities Worldwide by Geographic Region (2025) (includes corresponding Graph/Chart)
  • Thermal Energy Storage Generate Substantial Savings for Educational Institutes
  • Rising Deployments of Smart Grids Augurs Well for TES Market Growth
    • Table 13: Global Spend on Smart Grid Technologies by Region (2014, 2017 & 2020): Cumulative Spending (in US$ Billion) for Asia-Pacific (incl. China), Europe, Latin America, and North America (includes corresponding Graph/Chart)
  • Favorable Demographic and Urbanization Trends Aid Market Growth
    • Table 14: Global Population Estimates (in Billion): 2000, 2010, 2017E, 2030P, and 2050P (includes corresponding Graph/Chart)
    • Table 15: Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050P (includes corresponding Graph/Chart)
  • Key Factors Hampering Market Prospects for TES Technologies

3. INNOVATIONS & ADVANCEMENTS

  • Compact TES for Higher Efficiencies and Cleaner Energy
  • 'FES' (Future-Energy-Solution) TES Technology
  • A Resorption TES System for Seasonal Storage
  • Novel PTC (Parabolic-Trough-Collector) for Residential Solar Heating
  • Graphite-Enhanced PCM for Better Storage Results in TES
  • Twenty Times Increase in Solar TES Capacity Using Graphite Foam
  • PCM-TES for Baby Incubators
  • Cost-Effective and Eco-Friendly TES Systems
  • Novel Thermal Energy Storage System from NEST

4. PRODUCT OVERVIEW

  • Introduction to Energy Storage
  • Thermal Energy Storage: A Prelude
  • Thermal Energy Storage for Low-, Mid- and High-Temperature Applications
  • Space Consumption and Maintenance of TES Systems
  • Thermal Storage Technologies
  • Sensible Heat Storage
  • Latent Heat Storage
  • Thermo Chemical Heat Storage
  • TES Systems for Ice/Cool Storage
  • Types of Ice Thermal Storage Systems
  • Advantages of Ice Thermal Storage
    • Low Cost of Construction
    • Small Chillers/Heat Rejection Equipment
    • Reduced Pipe and Pump Sizes
    • Low Cost of Energy
    • Shift in Energy Usage
    • Energy Savings
    • Other Advantages
  • Solar Power TES Systems
  • Two-Tank Direct System
  • Two-Tank Indirect System
  • Single-Tank Thermocline System
  • Inter-Seasonal Thermal Storage Systems
  • Small-Scale Thermal Energy Storage (TES) Systems
  • High-Temperature Thermal Energy Storage
  • Full and Partial Thermal Energy Storage Systems
  • Thermal Storage Media
  • Ice/Ice Crystals
  • Concrete
  • Gravel
  • Phase Change Materials
  • Rock Strata
  • Costs of TES Systems

5. PRODUCT INNOVATIONS/INTRODUCTIONS

  • Siemens and AES Establish Fluence
  • Ice Energy Introduces Residential Ice Storage

6. RECENT INDUSTRY ACTIVITY

  • Ingersoll-Rand Takes Over CALMAC
  • Genbright Partners with Ice Energy
  • Ice Energy Partners with NRG Energy
  • Siemens Unveil Thermal Storage System for Wind Power
  • Con Edison Incentivizes Thermal Energy Storage Installations
  • Axiom Exergy Raises Funds for Thermal Energy Storage
  • Ice Energy Joins Community Storage Initiative
  • Masdar Institute Signs Agreement with EnergyNest

7. FOCUS ON SELECT GLOBAL PLAYERS

  • Abengoa Solar, S.A. (Spain)
  • AREVA NP SAS (France)
  • Baltimore Aircoil Company, Inc. (USA)
  • BrightSource Energy, Inc. (USA)
  • Burns & McDonnell, Inc. (USA)
  • Caldwell Energy Company (USA)
  • CALMAC Corporation (USA)
  • Chicago Bridge & Iron Company N.V. (The Netherlands)
  • DC Pro Engineering LLC (UAE)
  • DN Tanks, Inc. (USA)
  • Dunham-Bush Holding Bhd (Malaysia)
  • EnergyNest AS (Norway)
  • Evapco, Inc. (USA)
  • FAFCO, Inc. (USA)
  • Finetex EnE Inc. (South Korea)
  • Goss Engineering, Inc. (USA)
  • Ice Energy, Inc. (USA)
  • Siemens AG (Germany)
  • SolarReserve, LLC (USA)
  • Steffes Corporation (USA)
  • Sunwell Technologies Inc. (Canada)
  • TAS Energy Inc. (USA)

8. GLOBAL MARKET PERSPECTIVE

  • A. Volume Analytics
    • Table 16: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 17: World 10-Year Perspective for Thermal Energy Storage by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
  • Thermal Energy Storage Market by Technology
    • Table 18: World Recent Past, Current & Future Analysis for Sensible Heat Technology by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 19: World 10-Year Perspective for Sensible Heat Technology by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Table 20: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 21: World 10-Year Perspective for Other Technologies by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
  • B. Value Analytics
    • Table 22: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 23: World 10-Year Perspective for Thermal Energy Storage by Geographic Region/Country - Percentage Breakdown of Dollar Revenues for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

III. MARKET

1. THE UNITED STATES

  • A. Market Analysis
    • The Urgent Need to Reduce Water and Electricity Consumption Drive Strong Demand for TES Solutions
      • Thermal Energy Storage to Offset Escalating Electricity Cost
      • Different Types of TES Systems for Use in CSPs
    • Rising Number of Thermal Energy Storage Projects Benefit Market Prospects
      • Efficiency of TES Highly Influenced by Climatic Conditions
    • New Emission Regulations Bodes Well for the Energy Storage Solutions Market
      • NYC Utility's Ambitious Plans for Energy Efficiency
    • Table 24: Incentives under ConEd's Demand Management Program by Storage Technology
    • Long-term Outlook for Solar Energy to Drive Demand
      • Favorable US Policies to Improve Solar Power Generation Capabilities
    • TES Solutions Offer Immense Potential for Earning Green Building LEED Certification
    • Dwindling Utility-Scale LCOE to Expand Scope for Thermal Energy Storage Technologies
    • Ice Cub & Ice Bear Energy Storage Systems: TES Innovations from Ice Energy
    • Energy Storage Market in the US: A Macro Perspective
      • Current Value and Application of Storage Systems
      • Impediments to Energy Storage
    • Product Launch
    • Strategic Corporate Developments
    • Select Key Players
  • B. Market Analytics
    • Volume Analytics
    • Table 25: US Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 26: US 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Value Analytics
    • Table 27: US Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

2. CANADA

  • A. Market Analysis
    • Sunwell Technologies Inc. - A Major Canada-Based Company
  • B. Market Analytics
    • Volume Analytics
    • Table 28: Canadian Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 29: Canadian 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Value Analytics
    • Table 30: Canadian Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

3. JAPAN

  • A. Market Analysis
    • Japan's Focus on Renewable Energy Drives Healthy Market Growth for TES Systems
  • B. Market Analytics
    • Volume Analytics
    • Table 31: Japanese Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 32: Japanese 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Value Analytics
    • Table 33: Japanese Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

4. EUROPE

  • A. Market Analysis
    • Europe's Goal to Reduce Carbon Emissions Boost Demand for Thermal Energy Storage
      • Three TES-based Approaches Proposed for Improving Energy Efficiency
    • Potential of Thermal Energy Storage Undermined by European Regulatory System
    • Review of Select Markets in Western Europe
      • Germany
      • The UK
    • Product Launch
    • Strategic Corporate Developments
    • Select Key Players
  • B. Market Analytics
    • Volume Analytics
    • Table 34: European Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 35: European 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Value Analytics
    • Table 36: European Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

5. ASIA-PACIFIC

  • A. Market Analysis
    • Unpenetrated and Underpenetrated Asian Countries Offer Huge Untapped Market Growth Opportunities
    • Need for Technological Improvements for Realizing Cost Reductions
    • Flourishing Solar Power Market Offers Growth Opportunities
    • Review of Select Markets in the Region
      • China
      • India
      • Australia
    • Select Key Players
  • B. Market Analytics
    • Volume Analytics
    • Table 37: Asia-Pacific Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 38: Asia-Pacific 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Value Analytics
    • Table 39: Asia-Pacific Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

6. REST OF WORLD

  • A. Market Analysis
    • Thermal Energy Storage to Deliver Reliable and Affordable Electricity in South Africa
    • Recent Industry Activity
    • DC Pro Engineering LLC - A Key UAE-Based Company
  • B. Market Analytics
    • Volume Analytics
    • Table 40: Rest of World Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)
    • Table 41: Rest of World 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)
    • Value Analytics
    • Table 42: Rest of World Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)
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