Thermal Energy Storage Market by Technology (Latent Heat Storage, Sensible Heat Storage, Others) , by Storage Material (Water, Molten Salt, Phase Change Material (PCM) , Others) by Application (Power Generation, Heating, Cooling) by End Use (Residential, Commercial and Industrial, Utilities) : Global Opportunity Analysis and Industry Forecast, 2024-2033

A01868

Pages: 420

Charts: 76

Tables: 184

Reports Overview

Thermal Energy Storage Market Research, 2033

The global thermal energy storage market size was valued at $25.6 billion in 2023, and is projected to reach $56.4 billion by 2033, growing at a CAGR of 8.4% from 2024 to 2033.

Market Introduction and Definition

Thermal energy storage (TES) is a technology that stores thermal energy by heating or cooling a storage medium. This process is critical for balancing the demand & supply of energy, particularly in systems where the energy source is intermittent such as solar or wind power. TES helps improve energy efficiency and reliability by storing excess thermal energy when it is abundant and release during periods of high demand or when the energy source is unavailable.

Key Takeaways

The thermal energy storage market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
More than 1,500 product literatures, industry releases, annual reports, and other such documents of major 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

By Technology
- Latent Heat Storage
- Sensible Heat Storage
- Others
By Storage Material
- Water
- Molten Salt
- Phase Change Material (PCM)
- Others
By Application
- Power Generation
- Heating
- Cooling
By End Use
- Residential
- Commercial and Industrial
- Utilities
By Region
- North America
  - U.S.
  - Canada
  - Mexico
- Europe
  - France
  - Germany
  - Italy
  - Spain
  - UK
  - Rest of Europe
- Asia-Pacific
  - China
  - Japan
  - India
  - South Korea
  - Australia
  - Rest of Asia-Pacific
- LAMEA
  - Brazil
  - South Africa
  - Saudi Arabia
  - Rest of LAMEA

Key Market Players

Table of contents

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A01868

Pages: 420

Charts: 76

Tables: 184

Thermal Energy Storage Market Research, 2033

CHAPTER 1: INTRODUCTION

1.1. Report Description

1.2. Key Market Segments

1.3. Key Benefits

1.4. Research Methodology

1.4.1. Primary Research

1.4.2. Secondary Research

1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope

3.2. Key Findings

3.2.1. Top Investment Pockets

3.2.2. Top Winning Strategies

3.3. Porter's Five Forces Analysis

3.3.1. Bargaining Power of Suppliers

3.3.2. Threat of New Entrants

3.3.3. Threat of Substitutes

3.3.4. Competitive Rivalry

3.3.5. Bargaining Power among Buyers

3.5. Market Dynamics

3.5.1. Drivers

3.5.2. Restraints

3.5.3. Opportunities

CHAPTER 4: THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY

4.1. Market Overview

4.1.1 Market Size and Forecast, By Technology

4.2. Latent Heat Storage

4.2.1. Key Market Trends, Growth Factors and Opportunities

4.2.2. Market Size and Forecast, By Region

4.2.3. Market Share Analysis, By Country

4.3. Sensible Heat Storage

4.3.1. Key Market Trends, Growth Factors and Opportunities

4.3.2. Market Size and Forecast, By Region

4.3.3. Market Share Analysis, By Country

4.4. Others

4.4.1. Key Market Trends, Growth Factors and Opportunities

4.4.2. Market Size and Forecast, By Region

4.4.3. Market Share Analysis, By Country

CHAPTER 5: THERMAL ENERGY STORAGE MARKET, BY STORAGE MATERIAL

5.1. Market Overview

5.1.1 Market Size and Forecast, By Storage Material

5.2. Water

5.2.1. Key Market Trends, Growth Factors and Opportunities

5.2.2. Market Size and Forecast, By Region

5.2.3. Market Share Analysis, By Country

5.3. Molten Salt

5.3.1. Key Market Trends, Growth Factors and Opportunities

5.3.2. Market Size and Forecast, By Region

5.3.3. Market Share Analysis, By Country

5.4. Phase Change Material (PCM)

5.4.1. Key Market Trends, Growth Factors and Opportunities

5.4.2. Market Size and Forecast, By Region

5.4.3. Market Share Analysis, By Country

5.5. Others

5.5.1. Key Market Trends, Growth Factors and Opportunities

5.5.2. Market Size and Forecast, By Region

5.5.3. Market Share Analysis, By Country

CHAPTER 6: THERMAL ENERGY STORAGE MARKET, BY APPLICATION

6.1. Market Overview

6.1.1 Market Size and Forecast, By Application

6.2. Power Generation

6.2.1. Key Market Trends, Growth Factors and Opportunities

6.2.2. Market Size and Forecast, By Region

6.2.3. Market Share Analysis, By Country

6.3. Heating

6.3.1. Key Market Trends, Growth Factors and Opportunities

6.3.2. Market Size and Forecast, By Region

6.3.3. Market Share Analysis, By Country

6.4. Cooling

6.4.1. Key Market Trends, Growth Factors and Opportunities

6.4.2. Market Size and Forecast, By Region

6.4.3. Market Share Analysis, By Country

CHAPTER 7: THERMAL ENERGY STORAGE MARKET, BY END USE