Ice Thermal Energy Storage Market by Application (Refrigerator, Air Conditioner, and Thermal Battery) and End-Use (Industrial, Institutional, and Commercial): Global Opportunity Analysis and Industry Forecast, 2019-2026
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Jan 2020 |
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Ice Thermal Energy Storage Market Outlook - 2026
Ice thermal energy storage is a technology that stores thermal energy in ice. Ice thermal energy storage is mostly used in air conditioners for cooling purpose. It is mainly divided into two groups, namely, dynamic and static systems. The produced ice energy can be used directly or indirectly to chill a product, building, or system.
Storing ice has several benefits making it a more sustainable and cost-effective energy storage option for building managers to consider as part of their energy management plans. Conventional air-conditioning systems for large buildings typically run a chiller during the day to instantaneously cool space. By adding ice, these cooling systems can run that same chiller at night to create ice, which is stored in thermal energy storage tanks. This ice is then be used to cool the building the following day along with instantaneous cooling from the chiller. Owing to rapid industrialization & urbanization across developed economies like India and China has led to construction of new business centers and IT parks. This factor is expected to increase the demand for air conditioning system and will eventually drive the growth of ice thermal energy storage market.
Furthermore, ice thermal energy storage is also used for combustion gas turbine air inlet cooling. Owing to increase in demand for industrial gas turbine to generate power and for mechanical drive is expected to drive the growth of ice thermal energy storage market. However, the high maintenance cost of ice thermal energy storage system is expected to restrain the growth of ice thermal energy storage market. Meanwhile, introduction of new technological solution for ice thermal energy storage system offers lucrative growth opportunity for ice thermal energy storage market over the coming years.
The market is segmented on the basis of application, end-use, and region. By application, it is classified into refrigerator, air conditioner, and thermal battery. By end-use, it is segmented into industrial, institutional, and commercial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East and Africa).
Some of the main market players operating in the ice thermal energy storage industry are Ice Energy, CALMAC, Araner, Vogt Ice, Emerson Swan, Inc., FVB Energy Inc., AllCell Technologies LLC., Linde, ERGINTECH, and Halvorson Trane.
Key Benefits for Stakeholders:
- The global ice thermal energy storage market size has been analyzed across four major regions.
- Porter’s five force analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the ice thermal energy storage industry for building strategies.
- The report outlines the current market trends and future scenario of the market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market and illustrate the market share.
- The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
- The market analysis covers in-depth information of the major industry participants and illustrate the market forecast.
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Market Size Available for Years |
2018-2026 |
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Base Year Considered |
2018 |
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Forecast Period |
2019-2026 |
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Forecast Units |
Value (USD) |
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Segments Covered |
Application, End-user and Region |
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Geographies Covered |
North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa |
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Companies Covered |
Includes Ice Energy, CALMAC, Araner, Vogt Ice, Emerson Swan, Inc., FVB Energy Inc., AllCell Technologies LLC, Linde, Ergintech and Halvorson Trane. |
Key Segmentation:
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Segments |
Sub-Segments |
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By Application |
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By End-user |
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By Region |
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Questions Answered in the Ice Thermal Energy Storage Market Research Report:
- What is the growth rate of the ice thermal energy storage market during the forecast period?
- What will be the global ice thermal energy storage market size from 2019 to 2026?
- Who are the leading manufacturing companies in the ice thermal energy storage market?
- How the major current trends will shape the market in the future?
- What are the driving factors and opportunities in the market?
- Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
- Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?
- What are the conclusions of the ice thermal energy storage Market report?
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