Thermal Energy Storage Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The thermal energy storage market is anticipated to grow at a CAGR of more than 8.0% during the forecast period. The thermal energy storage industry is anticipated to witness high growth with the growing emphasis on technology that supports a decrease in the emission of greenhouse gases and rising energy dependency on renewable energy sources expected to fuel the demand for thermal energy storage systems. Moreover, emerging technology such as latent heat technology is anticipated to boost the demand for the market during the forecast period.

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The global thermal energy storage market is segmented on the basis of technology, and application. Based on technology, the market is sub-segmented into latent, sensible and thermochemical. Based on application, the market is sub-segmented into power generation, district heating & cooling and process heating & cooling.

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  • Market Coverage

  • Market number available for – 2025-2031

  • Base year- 2025

  • Forecast period- 2025-2031

  • Segment Covered- By Source, By Product Type, By Applications

  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill

  • , and others


Market Segmentation

Global Thermal Energy Storage Market by Technology

  • Sensible Storage

  • LatentStorage

  • ThermochemicalStorage


Global Thermal Energy Storage Market by Application

  • Power Generation

  • District Heating & Cooling

  • Process Heating & Cooling


Regional Analysis

  • North America

  • US

  • copyright

  • Europe

  • UK

  • Germany

  • Italy

  • Spain

  • France

  • Rest of Europe

  • Asia-Pacific

  • China

  • India

  • Japan

  • Rest of Asia-Pacific

  • Rest of the World


Company Profiles

  • Abengoa S.A.

  • Axiom Exergy, Inc.

  • Baltimore Aircoil Co.

  • Brightsource Energy, Inc.

  • Burns & McDonnell, Inc.

  • Caldwell Energy Co.

  • Cryogel Thermal Energy Storage

  • DN Tanks, Inc.

  • Dunham-Bush Holding Bhd

  • EVAPCO, Inc.

  • FAFCO, Inc.

  • FinetexEnE, Inc.

  • Goss Engineering

  • Johnson Control, Inc.

  • McDermott International, Inc.

  • SolarReserve, LLC

  • Steffes, LLC

  • Sunwell Technologies, Inc.

  • TAS Energy, Inc.

  • Terrafore Technologies LLC

  • Trane Technologies (Ingersoll Rand)


The Report Covers

  • Market value data analysis of 2018 and forecast to 2025.

  • Annualized market revenues ($ million) for each market segment.

  • Country-wise analysis of major geographical regions.

  • Key companies operating in the global thermal energy storagemarket. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.

  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

  • Analysis of market-entry and market expansion strategies.

  • Competitive strategies by identifying ‘who-stands-where’ in the market.


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