Global Thermal Energy Storage
Market Report
2025
As per Cognitive Market Research's latest published report, the Global Thermal Energy Storage market size was USD 4.6 Billion in 2022 and it is forecasted to reach USD 21.87 Billion by 2030. Thermal Energy Storage Industry's Compound Annual Growth Rate will be 15.23% from 2023 to 2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Thermal Energy Storage market size was USD 4.6 Billion in 2022 and it is forecasted to reach USD 21.87 Billion by 2030. Thermal Energy Storage Industry's Compound Annual Growth Rate will be 15.23% from 2023 to 2030.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Thermal Energy Storage Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 15.23% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Technology |
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Market Split by Application |
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Market Split by Storage Material |
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Market Split by End-User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Thermal Energy Storage industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Thermal Energy Storage Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Thermal energy storage (TES) is one form of energy storage. In this instance, a substance obtains energy when its temperature rises and loses it when its temperature falls. Utilizing this attribute allows for the use of diverse materials with various thermal properties and variable outcomes, which may result in a variety of applications for thermal energy storage.
Increasing demand for energy storage for supplementing increasing solar energy production, and growing demand for thermal energy storage (TES) systems in HVAC, are the major driving factors for the Thermal Energy Storage Market. With the help of thermal energy storage, the utilization of solar thermal energy can continue during the time period when there is no sunlight, which is propelling the growth of the Thermal Energy Storage Market. In addition, increasing preference for renewable energy production, with growing environmental concerns, is estimated to create opportunities for the thermal energy storage market in the forecast period. However high initial costs can hamper the growth of the market.
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The competitive landscape of the Thermal Energy Storage market provides an analysis of how key players interact and position themselves in the market. It covers market share distribution, competitive strategies like product differentiation, pricing, mergers, and partnerships. The analysis includes recent business developments such as new product launches, geographic expansions, and technological innovations. Financial metrics (revenue, gross margin, market share) for 2021-2024 offer insights into company performance, while SWOT analyses highlight strengths, weaknesses, opportunities, and threats. The report also examines how companies have adapted to challenges like COVID-19 through cost-cutting and digital transformation. (For company-specific financials, request sample pages or consult with our experts.)
Top Companies Market Share in Thermal Energy Storage Industry: (In no particular order of Rank)
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Europe is estimated as the largest market for thermal energy storage market. European countries are making attempts to meet the net zero carbon reduction targets, and are making moves for the shift from coal to renewable energy sources, which is fuelling the growth of the thermal energy storage market. Further, North America is accounted as the second largest market for the thermal energy storage market, owing to the increasing research and development activities and increasing positive outlook for renewable energy generation.
The current report Scope analyzes Thermal Energy Storage Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Thermal Energy Storage Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Thermal Energy Storage Industry growth. Thermal Energy Storage market has been segmented with the help of its Technology, Application Storage Material, and others. Thermal Energy Storage market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Thermal Energy Storage market is typically segmented by Technology, which play a significant role in determining the structure and growth potential of the industry. Understanding the market by Technology allows businesses to focus on specific product categories that are likely to perform the best in the coming years. By understanding the performance and demand trends of each type, companies can target the most lucrative segments, innovate within specific categories, and develop products or services that align with the needs of their target customers. Analyzing the growth patterns by type helps to pinpoint which segments are most likely to grow at an accelerated pace and which ones might experience slower or stagnant growth.
Technology of Thermal Energy Storage analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Thermal Energy Storage Industry. Request a Free Sample PDF!
Market segmentation by Application is another crucial element in understanding the dynamics of the Thermal Energy Storage industry. Applications refer to the specific uses or end-user industries that drive demand for the Thermal Energy Storage products or services. These can vary widely, depending on the nature of the market, ranging from healthcare, manufacturing, and retail to more specialized sectors like aerospace, automotive, and telecommunications. By breaking down the market according to its applications, businesses can gain insight into which industries are adopting Thermal Energy Storage-related solutions most effectively, and where new opportunities are emerging.
Moreover, analyzing application trends helps in recognizing which industries are growing faster, where innovations are occurring, and which markets are saturated, allowing businesses to strategically position themselves in the most promising areas of the market. Get in touch with us to receive industry-specific insights tailored to your needs
Some of the key Application of Thermal Energy Storage are:
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Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Thermal Energy Storage Market is witnessing significant growth in the near future.
In 2023, the Latent segment accounted for noticeable share of global Thermal Energy Storage Market and is projected to experience significant growth in the near future.
The Process Heating and Cooling segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies CALMAC, CALDWELL ENERGY and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Technology | Latent, Thermochemical, Sensible |
Application | Process Heating and Cooling, Power Generation, District Heating and Cooling |
Storage Material | Molten salts, Water, Phase change materials, Others |
End-User | Utilities, Residential & Commercial, Industrial |
List of Competitors | CALMAC, ABENGOA SOLAR, CALDWELL ENERGY, BALTIMORE AIRCOIL COMPANY, CHICAGO BRIDGE IRON, BRIGHTSOURCE ENERGY, DC PRO ENGINEERING, EVAPCO, DN TANKS, BURNS MCDONNELL |
This chapter will help you gain GLOBAL Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review Global Thermal Energy Storage Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review North America Thermal Energy Storage Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review Europe Thermal Energy Storage Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review Asia Pacific Thermal Energy Storage Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review South America Thermal Energy Storage Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review Middle East Thermal Energy Storage Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Thermal Energy Storage. Further deep in this chapter, you will be able to review Middle East Thermal Energy Storage Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Thermal Energy Storage. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Technology Analysis 2019 -2031, will provide market size split by Technology. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Technology Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Storage Material Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by End-User Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Thermal Energy Storage market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Latent have a significant impact on Thermal Energy Storage market? |
What are the key factors affecting the Latent and Thermochemical of Thermal Energy Storage Market? |
What is the CAGR/Growth Rate of Process Heating and Cooling during the forecast period? |
By type, which segment accounted for largest share of the global Thermal Energy Storage Market? |
Which region is expected to dominate the global Thermal Energy Storage Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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