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A05816 | Pages: 340 | Charts: 57 | Tables: 134 |
The global ice thermal energy storage market size was valued at $192.5 billion in 2023, and is projected to reach $442.9 billion by 2030, growing at a CAGR of 12.6% from 2024 to 2030.
Market Introduction and Definition
Ice thermal energy storage (ITES) is a technology used for storing thermal energy by freezing water into ice during periods of low energy demand, typically at night, and then using the stored ice to provide cooling during periods of high energy demand, usually during the day. This process helps to balance energy supply and demand, reduce energy costs, and enhance the efficiency of cooling systems. In addition, Ice thermal energy storage systems contribute to sustainability efforts by enhancing the efficiency of energy use and reducing greenhouse gas emissions. The integration of ITES with renewable energy sources, such as solar or wind power, further improve environmental benefits by ensuring that excess renewable energy generated during off-peak hours is effectively utilized.
Key Takeaways
The ice thermal energy storage market report covers 20 countries. The research includes a segment analysis of each country in terms of value ($billion) for the projected period 2023-2030.
More than 1, 800 product literatures, industry releases, annual reports, and other such documents of major ice thermal energy storage industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Key Market Segments
Key Market Players