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Market Research Report

Thermal Energy Storage Market by Technology (Sensible, Latent, Thermochemical), Storage Material (Water, Molten Salts, PCM), Application (Power Generation, District Heating & Cooling, & Others), End User & Region-Global Forecast to 2025

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Thermal Energy Storage Market by Technology (Sensible, Latent, Thermochemical), Storage Material (Water, Molten Salts, PCM), Application (Power Generation, District Heating & Cooling, & Others), End User & Region-Global Forecast to 2025
Published: October 8, 2020 Content info: 173 Pages
Description

Title:
Thermal Energy Storage Market
by Technology (Sensible, Latent, Thermochemical), Storage Material (Water, Molten Salts, PCM), Application (Power Generation, District Heating & Cooling, Process Heating & Cooling), End User and Region - Global Forecast to 2025.

The global thermal energy storage market size is projected to grow from an estimated USD 188 million in 2020 to USD 369 million by 2025, at a CAGR of 14.4% from 2020 to 2025. The rising number of CSP projects across globe are driving demand for thermal energy storage. The Middle Eastern & African and American countries, such as the US, Morocco, South Africa, and the UAE, are experiencing an upsurge in the demand for electricity for district heating & cooling, and process heating & cooling applications.

"The latent heat storage segment is expected to be the fastest-growing of the thermal energy storage market, by technology, during the forecast period."

Latent heat storage has the advantage of storing large amounts of heat with only small temperature changes and, therefore, has a high storage density. Phase change materials work on constant temperature, both while charging and discharging. The use of phase change materials can be found in solar energy storage systems for water heating, greenhouses, space heating and cooling, cooking, and waste heat recovery systems.

"Americas: The fastest market for thermal energy storage."

Americas is the fastest-growing market for the thermal energy storage market. The growth of the market in the region is driven by the launch of various CSP projects and propelling demand for thermal energy storage for district heating & cooling applications. The US has been a pioneering market for concentrating solar power technology, with CSP installations since the 1980s. The stellar decline in solar PV prices took the attention away from the CSP industry, although project developments continued. The US is the only significant market in the region, with virtually no action in South America and Canada in the near future. However, Chile has some operational thermal energy projects and leads the market in South America with CSP installations for mining and utility-scale power supply.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 65%, Tier 2- 24%, Tier 3- 11%
  • By Designation: C-Level- 30%, D-Level- 25%, Others- 45%
  • By Region: Americas- 25%, Europe- 35%, Asia Pacific- 20%, and Middle East & Africa- 20%

Note: The tier of the companies has been defined based on their total revenue; as of 2017: Tier 1 ≥USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 ≤USD 500 million.

The key players in the thermal energy storage market include companies such as Abengoa Solar (Spain), Burns & McDonnell (US), BrightSource Energy (US), Calmac (US), and SolarReserve (US).

Research Coverage:

The report provides a complete view of the thermal energy storage market across regions. It aims at estimating the market size and future growth potential of the market across different segments such as type, capacity, technology, and fuel type. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

The market has been segmented based on type, capacity, technology, and fuel type with a focus on industry analysis (industry trends). The market ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the thermal energy storage market.

Key Benefits of Buying the Report:

  • 1. The report identifies and addresses the key technologies that are essential for the thermal energy storage market
  • 2. The report helps solution providers understand the pulse of the market and provide insights into drivers, opportunities, restraints, and challenges.
  • 3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
Table of Contents
Product Code: EP 5089

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 STUDY OBJECTIVES
  • 1.2 DEFINITION
  • 1.3 INCLUSIONS AND EXCLUSIONS
    • 1.3.1 THERMAL ENERGY STORAGE MARKET: INCLUSIONS AND EXCLUSIONS
  • 1.4 MARKET SCOPE
    • 1.4.1 MARKET SEGMENTATION
    • 1.4.2 REGIONS COVERED
    • 1.4.3 YEARS CONSIDERED
  • 1.5 CURRENCY
  • 1.6 LIMITATIONS
  • 1.7 STAKEHOLDERS
  • 1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY

  • 2.1 RESEARCH DATA
    • FIGURE 1 THERMAL ENERGY STORAGE MARKET: RESEARCH DESIGN
  • 2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
    • FIGURE 2 DATA TRIANGULATION METHODOLOGY
    • 2.2.1 SECONDARY DATA
      • 2.2.1.1 Key data from secondary sources
    • 2.2.2 PRIMARY DATA
      • 2.2.2.1 Key data from primary sources
      • 2.2.2.2 Breakdown of primaries
    • TABLE 1 THERMAL ENERGY STORAGE MARKET: PLAYERS/COMPANIES CONNECTED
  • 2.3 SCOPE
    • FIGURE 3 MAIN METRICS CONSIDERED IN ASSESSING DEMAND FOR THERMAL ENERGY STORAGE MARKET
  • 2.4 MARKET SIZE ESTIMATION
    • 2.4.1 BOTTOM-UP APPROACH
    • FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
    • 2.4.2 TOP-DOWN APPROACH
    • FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    • 2.4.3 IDEAL DEMAND-SIDE ANALYSIS
      • 2.4.3.1 Assumptions
      • 2.4.3.2 Limitations
      • 2.4.3.3 Calculation
    • 2.4.4 FORECAST
    • 2.4.5 SUPPLY-SIDE ANALYSIS
    • FIGURE 6 MAIN METRICS CONSIDERED IN ASSESSING SUPPLY FOR THERMAL ENERGY STORAGE MARKET
      • 2.4.5.1 Calculation
      • 2.4.5.2 Assumptions
    • FIGURE 7 INDUSTRY CONCENTRATION, 2019
  • 2.5 PRIMARY INSIGHTS

3 EXECUTIVE SUMMARY

  • 3.1 SCENARIO ANALYSIS
    • FIGURE 8 SCENARIO ANALYSIS: THERMAL ENERGY STORAGE, 2018-2025
    • 3.1.1 OPTIMISTIC SCENARIO
    • 3.1.2 REALISTIC SCENARIO
    • 3.1.3 PESSIMISTIC SCENARIO
    • TABLE 2 THERMAL ENERGY STORAGE MARKET SNAPSHOT
    • FIGURE 9 AMERICAS TO GROW AT HIGHEST CAGR IN THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD
    • FIGURE 10 LATENT HEAT STORAGE SEGMENT TO GROW AT HIGHEST CAGR IN THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD
    • FIGURE 11 MOLTEN SALTS SEGMENT TO CONTINUE TO ACCOUNT FOR LARGEST MARKET SIZE DURING FORECAST PERIOD
    • FIGURE 12 POWER GENERATION SEGMENT TO WITNESS FASTEST GROWTH IN THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD
    • FIGURE 13 UTILITIES SEGMENT TO WITNESS FASTEST GROWTH IN THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS

  • 4.1 ATTRACTIVE OPPORTUNITIES IN THERMAL ENERGY STORAGE MARKET
    • FIGURE 14 DECENTRALIZATION OF RENEWABLE ENERGY SECTOR TO DRIVE THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD
  • 4.2 THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY
    • FIGURE 15 SENSIBLE HEAT STORAGE SEGMENT TO DOMINATE THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY, DURING FORECAST PERIOD
  • 4.3 THERMAL ENERGY STORAGE MARKET, BY STORAGE MATERIAL
    • FIGURE 16 MOLTEN SALTS SEGMENT CAPTURED LARGEST SHARE OF THERMAL ENERGY STORAGE MARKET IN 2019
  • 4.4 THERMAL ENERGY STORAGE MARKET, BY APPLICATION
    • FIGURE 17 DISTRICT HEATING & COOLING SEGMENT CAPTURED LARGEST SHARE OF THERMAL ENERGY STORAGE MARKET IN 2019
  • 4.5 THERMAL ENERGY STORAGE MARKET, BY END USER
    • FIGURE 18 UTILITIES SEGMENT COMMANDED LARGEST SHARE OF THERMAL ENERGY STORAGE MARKET IN 2019
  • 4.6 THERMAL ENERGY STORAGE MARKET, BY REGION
    • FIGURE 19 THERMAL ENERGY STORAGE MARKET IN AMERICAS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • 4.7 THERMAL ENERGY STORAGE MARKET IN AMERICAS, BY END USER & COUNTRY
    • FIGURE 20 UTILITIES SEGMENT AND US DOMINATED THERMAL ENERGY STORAGE MARKET IN AMERICAS IN 2019

5 MARKET OVERVIEW

  • 5.1 INTRODUCTION
  • 5.2 YC SHIFT
  • 5.3 COVID-19 HEALTH ASSESSMENT
    • FIGURE 21 COVID-19: GLOBAL PROPAGATION
    • FIGURE 22 COVID-19 PROPAGATION IN SELECT COUNTRIES
  • 5.4 ROAD TO RECOVERY
    • FIGURE 23 RECOVERY ROAD FOR 2020
  • 5.5 COVID-19 ECONOMIC ASSESSMENT
    • FIGURE 24 REVISED GDP FORECAST FOR SELECT G20 COUNTRIES IN 2020
  • 5.6 MARKET DYNAMICS
    • FIGURE 25 THERMAL ENERGY STORAGE MARKET: MARKET DYNAMICS
    • 5.6.1 DRIVERS
      • 5.6.1.1 Demand for energy storage for supplementing ever-increasing solar energy generation
    • FIGURE 26 CHANGE IN RENEWABLE ENERGY GENERATION, BY SOURCE, 2017 VS 2018
    • TABLE 3 CSP TOWER PROJECTS WITH STORAGE IN 2017
      • 5.6.1.2 Increasing HVAC applications fueling demand for thermal energy storage
      • 5.6.1.3 Promotion of TES by governments and other regulatory authorities
    • 5.6.2 RESTRAINTS
      • 5.6.2.1 High grid connection barriers related to thermal energy storage
      • 5.6.2.2 Competition from battery storage and pumped-storage technologies
    • TABLE 4 COST COMPARISON OF VARIOUS STORAGE TECHNOLOGIES
    • 5.6.3 OPPORTUNITIES
      • 5.6.3.1 Decentralization of renewable energy sector
      • 5.6.3.2 Increasing use of molten salts for CSP plants
    • 5.6.4 CHALLENGES
      • 5.6.4.1 High initial costs, along with changing costs by technology
  • 5.7 VALUE CHAIN ANALYSIS
    • FIGURE 27 THERMAL ENERGY STORAGE: VALUE CHAIN
    • 5.7.1 PROJECT DEVELOPMENT
    • 5.7.2 PROCUREMENT OF MATERIALS
    • 5.7.3 PROCUREMENT OF COMPONENTS
    • 5.7.4 PLANT ENGINEERING & CONSTRUCTION
    • 5.7.5 OPERATION
    • 5.7.6 DISTRIBUTION
  • 5.8 AVERAGE SELLING PRICE
    • TABLE 5 THERMAL ENERGY STORAGE UNIT CAPITAL COST, BY TECHNOLOGY (USD/KWH)
  • 5.9 MARKET INTERCONNECTION
  • 5.10 CASE STUDY ANALYSIS
    • 5.10.1 CRESCENT DUNES USES MOLTEN SALT STORAGE FOR SOLAR POWER TOWER CSP
    • TABLE 6 CRESCENT DUNES PROJECT STATISTICS
    • 5.10.2 SUPCON DELINGHA 50MW MOLTEN SALT TOWER CSP USES SOLAR POWER TOWER CSP FOR UTILITIES
    • TABLE 7 SUPCON DELINGHA PROJECT STATISTICS

6 IMPACT OF COVID-19 ON THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, BY REGION

  • 6.1 INTRODUCTION
    • 6.1.1 IMPACT OF COVID-19 ON GDP
    • TABLE 8 GDP ANALYSIS (%)
    • 6.1.2 SCENARIO ANALYSIS OF GLOBAL POWER SECTOR
    • FIGURE 28 ANNUAL AVERAGE GROWTH RATE OF ELECTRICITY DEMAND, 2017-2020
    • 6.1.3 OPTIMISTIC SCENARIO
    • TABLE 9 OPTIMISTIC SCENARIO: THERMAL ENERGY STORAGE MARKET, BY REGION, 2018-2025 (USD THOUSAND)
    • 6.1.4 REALISTIC SCENARIO
    • TABLE 10 REALISTIC SCENARIO: THERMAL ENERGY STORAGE MARKET, BY REGION, 2018-2025 (USD THOUSAND)
    • 6.1.5 PESSIMISTIC SCENARIO
    • TABLE 11 PESSIMISTIC SCENARIO: THERMAL ENERGY STORAGE MARKET, BY REGION, 2018-2025 (USD THOUSAND)

7 THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY

  • 7.1 INTRODUCTION
    • TABLE 12 TECHNOLOGY COMPARISON
    • FIGURE 29 SENSIBLE HEAT SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD
    • TABLE 13 THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
  • 7.2 SENSIBLE HEAT STORAGE TECHNOLOGY
    • 7.2.1 HIGH DEMAND FOR MOLTEN SALTS FOR THERMAL ENERGY STORAGE IS DRIVING SENSIBLE HEAT STORAGE TECHNOLOGY DEMAND
    • TABLE 14 LIST OF STORAGE MATERIALS FOR SENSIBLE HEAT STORAGE
    • TABLE 15 SENSIBLE HEAT STORAGE: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 7.3 LATENT HEAT STORAGE TECHNOLOGY
    • 7.3.1 DEVELOPMENT OF PHASE CHANGE MATERIALS IS LIKELY TO DRIVE MARKET
    • TABLE 16 LIST OF STORAGE MATERIALS FOR LATENT HEAT STORAGE
    • TABLE 17 LATENT HEAT STORAGE: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 7.4 THERMOCHEMICAL STORAGE TECHNOLOGY
    • 7.4.1 US OFFERS HIGH POTENTIAL FOR GROWTH OF THERMOCHEMICAL STORAGE TECHNOLOGY
    • TABLE 18 THERMOCHEMICAL STORAGE: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)

8 THERMAL ENERGY STORAGE MARKET, BY STORAGE MATERIAL

  • 8.1 INTRODUCTION
    • FIGURE 30 MOLTEN SALTS SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF THERMAL ENERGY STORAGE MARKET DURING 2020-2025
    • TABLE 19 THERMAL ENERGY STORAGE MARKET SIZE, BY STORAGE MATERIAL, 2018-2025 (USD THOUSAND)
  • 8.2 WATER
    • 8.2.1 WATER-BASED THERMAL ENERGY STORAGE SYSTEMS REQUIRE LOW INVESTMENT
    • TABLE 20 WATER: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 8.3 MOLTEN SALT
    • 8.3.1 LITHIUM SALTS
      • 8.3.1.1 Good thermophysical properties and low costs of lithium salts make them more demandable for CSP thermal plants
    • 8.3.2 POTASSIUM SALTS
      • 8.3.2.1 Binary and ternary salts, including potassium nitrate, make good storage materials for thermal energy storage
    • TABLE 21 MOLTEN SALT: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 8.4 PHASE CHANGE MATERIALS (PCM)
    • 8.4.1 PCMS ENABLE TARGET-ORIENTED DISCHARGING TEMPERATURES
    • TABLE 22 PHASE CHANGE MATERIALS: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 8.5 OTHERS
    • TABLE 23 OTHERS: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)

9 THERMAL ENERGY STORAGE MARKET, BY APPLICATION

  • 9.1 INTRODUCTION
    • FIGURE 31 DISTRICT HEATING & COOLING SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF THERMAL ENERGY STORAGE MARKET DURING 2020-2025
    • TABLE 24 THERMAL ENERGY STORAGE MARKET SIZE, BY APPLICATION, 2018-2025 (USD THOUSAND)
  • 9.2 POWER GENERATION
    • 9.2.1 UPCOMING CSP PROJECTS TO DRIVE POWER GENERATION APPLICATION OF THERMAL ENERGY STORAGE
    • TABLE 25 POWER GENERATION: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 9.3 DISTRICT HEATING & COOLING
    • 9.3.1 EVOLVING SMART CITY CONCEPT AND HVAC APPLICATIONS IN MIDDLE EAST AND EUROPEAN COUNTRIES IS DRIVING MARKET GROWTH
    • TABLE 26 DISTRICT HEATING & COOLING: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 9.4 PROCESS HEATING & COOLING
    • 9.4.1 INCREASING DEMAND FOR THERMAL ENERGY STORAGE TO PROVIDE HEATING AND COOLING SOLUTIONS FOR ENERGY-INTENSIVE INDUSTRIES IS FUELING MARKET GROWTH
    • TABLE 27 PROCESS HEATING & COOLING: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)

10 THERMAL ENERGY STORAGE MARKET, BY END USER

  • 10.1 INTRODUCTION
    • FIGURE 32 UTILITIES SEGMENT IS EXPECTED TO CONTINUE TO DOMINATE THERMAL ENERGY STORAGE MARKET DURING FORECAST PERIOD
    • TABLE 28 THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
  • 10.2 UTILITIES
    • 10.2.1 INCREASING FOCUS ON POWER LOAD MANAGEMENT DURING PEAK HOURS IS DRIVING DEMAND FROM UTILITIES
    • TABLE 29 UTILITIES: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 10.3 COMMERCIAL
    • 10.3.1 THERMAL ENERGY STORAGE SYSTEMS ARE USED FOR HVAC APPLICATIONS IN COMMERCIAL SECTOR
    • TABLE 30 COMMERCIAL: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)
  • 10.4 INDUSTRIAL
    • 10.4.1 HIGH VOLUMES OF WASTE HEAT GENERATED IN INDUSTRIES IS ENCOURAGING USE OF TES SYSTEMS FOR PROCESS HEATING & COOLING APPLICATIONS
    • TABLE 31 INDUSTRIAL: THERMAL ENERGY STORAGE MARKET SIZE, BY REGION, 2018-2025 (USD THOUSAND)

11 THERMAL ENERGY STORAGE MARKET, BY REGION

  • 11.1 INTRODUCTION
    • FIGURE 33 REGIONAL SNAPSHOT: MARKET IN AMERICAS IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    • FIGURE 34 THERMAL ENERGY STORAGE MARKET SHARE (VALUE), BY REGION, 2020 & 2025
    • TABLE 32 THERMAL ENERGY STORAGE MARKET, CAPACITY, BY REGION, 2018-2025 (MWH)
    • TABLE 33 THERMAL ENERGY STORAGE MARKET, BY REGION, 2018-2025 (USD THOUSAND)
  • 11.2 EUROPE
    • 11.2.1 IMPACT OF COVID-19 ON THERMAL ENERGY STORAGE MARKET IN EUROPE
    • FIGURE 35 REGIONAL SNAPSHOT: EUROPE
    • 11.2.2 EUROPE: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025
    • TABLE 34 EUROPE: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025 (USD THOUSAND)
    • 11.2.3 BY TECHNOLOGY
    • TABLE 35 EUROPE: THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
      • 11.2.3.1 Sensible heat storage technology, by country
    • TABLE 36 SENSIBLE HEAT STORAGE: EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.2.3.2 Latent heat storage technology, by country
    • TABLE 37 LATENT HEAT STORAGE: EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.2.3.3 Thermochemical storage, by country
    • TABLE 38 THERMOCHEMICAL STORAGE: EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.2.4 BY STORAGE MATERIAL
    • TABLE 39 EUROPE: THERMAL ENERGY STORAGE MARKET SIZE, BY STORAGE MATERIAL, 2018-2025 (USD THOUSAND)
    • 11.2.5 BY APPLICATION
    • TABLE 40 EUROPE: THERMAL ENERGY STORAGE MARKET SIZE, BY APPLICATION, 2018-2025 (USD THOUSAND)
    • 11.2.6 BY END USER
    • TABLE 41 EUROPE: THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.2.6.1 Utilities, by country
    • TABLE 42 UTILITIES: EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.2.6.2 Commercial, by country
    • TABLE 43 COMMERCIAL: EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.2.6.3 Industrial, by country
    • TABLE 44 INDUSTRIAL: EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.2.7 BY COUNTRY
    • TABLE 45 EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.2.7.1 Spain
        • 11.2.7.1.1 High demand from utilities for low-cost CSP plus storage solutions is driving market
    • TABLE 46 SPAIN THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 47 SPAIN THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.2.7.2 France
        • 11.2.7.2.1 High demand for thermal energy storage for heating & cooling applications drives market in France
    • TABLE 48 FRANCE THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 49 FRANCE THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.2.7.3 Germany
        • 11.2.7.3.1 Government initiatives to increase share of renewables in power generation mix will drive market in Germany
    • TABLE 50 GERMANY THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 51 GERMANY THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.2.7.4 UK
        • 11.2.7.4.1 High focus on decarbonization of heat is driving market growth in UK
    • TABLE 52 UK THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 53 UK THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.2.7.5 Italy
        • 11.2.7.5.1 Increased demand for molten salts and demand for energy storage in Italy is fueling market growth
    • TABLE 54 ITALY THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 55 ITALY THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.2.7.6 Rest of Europe
    • TABLE 56 REST OF EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 57 REST OF EUROPE THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
  • 11.3 AMERICAS
    • FIGURE 36 REGIONAL SNAPSHOT: AMERICAS
    • 11.3.1 IMPACT OF COVID-19 ON THERMAL ENERGY STORAGE MARKET IN AMERICAS
    • 11.3.2 AMERICAS: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025
    • TABLE 58 AMERICAS: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025 (USD THOUSAND)
    • 11.3.3 BY TECHNOLOGY
    • TABLE 59 AMERICAS: THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
      • 11.3.3.1 Sensible heat storage technology, by country
    • TABLE 60 SENSIBLE HEAT STORAGE: AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.3.3.2 Latent heat storage technology, by country
    • TABLE 61 LATENT HEAT STORAGE: AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.3.3.3 Thermochemical storage, by country
    • TABLE 62 THERMOCHEMICAL STORAGE: AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.3.4 BY STORAGE MATERIAL
    • TABLE 63 AMERICAS: THERMAL ENERGY STORAGE MARKET SIZE, BY STORAGE MATERIAL, 2018-2025 (USD THOUSAND)
    • 11.3.5 BY APPLICATION
    • TABLE 64 AMERICAS: THERMAL ENERGY STORAGE MARKET SIZE, BY APPLICATION, 2018-2025 (USD THOUSAND)
    • 11.3.6 BY END USER
    • TABLE 65 AMERICAS: THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.3.6.1 Utilities, by country
    • TABLE 66 UTILITIES: AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.3.6.2 Commercial, by country
    • TABLE 67 COMMERCIAL: AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.3.6.3 Industrial, by country
    • TABLE 68 INDUSTRIAL: AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.3.7 BY COUNTRY
    • TABLE 69 AMERICAS: THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.3.7.1 US
        • 11.3.7.1.1 High investments in solar thermal storage and planned CSP power generation is likely to drive market in the US
    • TABLE 70 US THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 71 US THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.3.7.2 Canada
        • 11.3.7.2.1 Steadily integration of solar power in overall generation mix is likely to bring opportunities for thermal energy storage market in Canada
    • TABLE 72 CANADA THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 73 CANADA THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.3.7.3 Chile
        • 11.3.7.3.1 Potential to supply molten salts fostering thermal energy storage market growth in Chile
    • TABLE 74 CHILE THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 75 CHILE THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.3.7.4 Rest of Americas
    • TABLE 76 REST OF AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 77 REST OF AMERICAS THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
  • 11.4 MIDDLE EAST & AFRICA
    • 11.4.1 IMPACT OF COVID-19 ON MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET
    • 11.4.2 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025
    • TABLE 78 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025 (USD THOUSAND)
    • 11.4.3 BY TECHNOLOGY
    • TABLE 79 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
      • 11.4.3.1 Sensible heat storage technology, by country
    • TABLE 80 SENSIBLE HEAT STORAGE: MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.4.3.2 Latent heat storage technology, by country
    • TABLE 81 LATENT HEAT STORAGE: MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.4.3.3 Thermochemical storage, by country
    • TABLE 82 THERMOCHEMICAL STORAGE: MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.4.4 BY STORAGE MATERIAL
    • TABLE 83 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET SIZE, BY STORAGE MATERIAL, 2018-2025 (USD THOUSAND)
    • 11.4.5 BY APPLICATION
    • TABLE 84 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET SIZE, BY APPLICATION, 2018-2025 (USD THOUSAND)
    • 11.4.6 BY END USER
    • TABLE 85 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.4.6.1 Utilities, by country
    • TABLE 86 UTILITIES: MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.4.6.2 Commercial, by country
    • TABLE 87 COMMERCIAL: MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.4.6.3 Industrial, by country
    • TABLE 88 INDUSTRIAL: MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.4.7 BY COUNTRY
    • TABLE 89 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.4.7.1 South Africa
        • 11.4.7.1.1 Escalating power demand from mining sector to drive thermal energy storage market growth
    • TABLE 90 SOUTH AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 91 SOUTH AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.4.7.2 UAE
        • 11.4.7.2.1 Availability of inexpensive thermal storage materials, such as sand, to favor thermal energy storage capacity additions
    • TABLE 92 UAE THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 93 UAE THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.4.7.3 Morocco
        • 11.4.7.3.1 Growing number of CSP projects and supportive legislation to drive market in Morocco
    • TABLE 94 MOROCCO THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 95 MOROCCO THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.4.7.4 Rest of Middle East & Africa
    • TABLE 96 REST OF MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 97 REST OF MIDDLE EAST & AFRICA THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
  • 11.5 ASIA PACIFIC
    • 11.5.1 IMPACT OF COVID-19 ON THERMAL ENERGY STORAGE MARKET IN ASIA PACIFIC
    • 11.5.2 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025
    • TABLE 98 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET, SCENARIO ANALYSIS, 2018-2025 (USD THOUSAND)
    • 11.5.3 BY TECHNOLOGY
    • TABLE 99 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
      • 11.5.3.1 Sensible heat storage technology, by country
    • TABLE 100 SENSIBLE HEAT STORAGE: ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.5.3.2 Latent heat storage technology, by country
    • TABLE 101 LATENT HEAT STORAGE: ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.5.3.3 Thermochemical storage, by country
    • TABLE 102 THERMOCHEMICAL STORAGE: ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.5.4 BY STORAGE MATERIAL
    • TABLE 103 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET SIZE, BY STORAGE MATERIAL, 2018-2025 (USD THOUSAND)
    • 11.5.5 BY APPLICATION
    • TABLE 104 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET SIZE, BY APPLICATION, 2018-2025 (USD THOUSAND)
    • 11.5.6 BY END USER
    • TABLE 105 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.5.6.1 Utilities, by country
    • TABLE 106 UTILITIES: ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.5.6.2 Commercial, by country
    • TABLE 107 COMMERCIAL: ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.5.6.3 Industrial, by country
    • TABLE 108 INDUSTRIAL: ASIA THERMAL PACIFIC ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
    • 11.5.7 BY COUNTRY
    • TABLE 109 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2018-2025 (USD THOUSAND)
      • 11.5.7.1 China
        • 11.5.7.1.1 Increasing focus on CSP for hedging carbon emissions and meeting peak hours demand is driving thermal energy storage market in China
    • TABLE 110 CHINA THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 111 CHINA THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.5.7.2 India
        • 11.5.7.2.1 Focus on renewable energy generation capacity additions will support thermal energy storage technologies in India
    • TABLE 112 INDIA THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 113 INDIA THERMAL ENERGY STORAGE MARKET, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.5.7.3 Australia
        • 11.5.7.3.1 Initiation of ARENA-funded thermal energy storage projects is fostering market growth in Australia
    • TABLE 114 AUSTRALIA THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 115 AUSTRALIA THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)
      • 11.5.7.4 Rest of Asia Pacific
    • TABLE 116 REST OF ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 2018-2025 (USD THOUSAND)
    • TABLE 117 REST OF ASIA PACIFIC THERMAL ENERGY STORAGE MARKET SIZE, BY END USER, 2018-2025 (USD THOUSAND)

12 COMPETITIVE LANDSCAPE

  • 12.1 OVERVIEW
    • FIGURE 37 KEY DEVELOPMENTS IN GLOBAL THERMAL ENERGY STORAGE MARKET, 2017-AUGUST 2020
  • 12.2 MARKET EVALUATION FRAMEWORK
    • FIGURE 38 MARKET EVALUATION FRAMEWORK: CONTRACTS & AGREEMENTS HAVE FUELED GROWTH OF COMPANIES FROM 2017 TO 2020
  • 12.3 INDUSTRY CONCENTRATION, 2019
    • FIGURE 39 INDUSTRY CONCENTRATION, 2019
    • 12.3.1 CONTRACTS & AGREEMENTS
    • 12.3.2 INVESTMENTS & EXPANSION
  • 12.4 COMPANY EVALUATION MATRIX DEFINITIONS AND METHODOLOGY
    • 12.4.1 STARS
    • 12.4.2 EMERGING LEADERS
    • 12.4.3 PERVASIVE
    • 12.4.4 EMERGING COMPANIES
  • 12.5 COMPANY EVALUATION MATRIX, 2019
    • FIGURE 40 THERMAL ENERGY STORAGE MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
  • 12.6 WINNERS VS. TAIL-ENDERS
    • 12.6.1 WINNERS
    • 12.6.2 TAIL ENDERS

13 COMPANY PROFILE

(Business overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, MNM view)**

  • 13.1 ABENGOA
    • FIGURE 41 ABENGOA: COMPANY SNAPSHOT
  • 13.2 MAN ENERGY SOLUTIONS
  • 13.3 BRIGHTSOURCE ENERGY
  • 13.4 BALTIMORE AIRCOIL COMPANY
  • 13.5 SOLARRESERVE
  • 13.6 CALDWELL ENERGY
  • 13.7 BURNS & MCDONNELL
  • 13.8 CRISTOPIA ENERGY
  • 13.9 CRYOGEL THERMAL ENERGY STORAGE
  • 13.10 DUNHAM BUSH
  • 13.11 STEFFES CORPORATION
  • 13.12 TURBINE AIR SYSTEMS (TAS)
  • 13.13 EVAPCO
  • 13.14 CALMAC
  • 13.15 CB&I (MCDERMOTT)
  • 13.16 LIME
  • 13.17 VOGTICE
  • 13.18 SUNWELL TECHNOLOGIES
  • 13.19 DC PRO ENGINEERING
  • 13.20 FAFCO

*Details on Business overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.

14 APPENDIX

  • 14.1 INSIGHTS OF INDUSTRY EXPERTS
  • 14.2 DISCUSSION GUIDE
  • 14.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
  • 14.4 AVAILABLE CUSTOMIZATIONS
  • 14.5 RELATED REPORTS
  • 14.6 AUTHOR DETAILS
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