[195+ Pages Report] Global thermal energy storage market in 2019 was approximately USD 4,281.6 Million and is expected to reach SD 8558.34 Million by 2026, to grow at a CAGR of 10.4% during the forecast years.
This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the thermal energy storage industry. The report analyzes and declares the historical and current trends analysis of the thermal energy storage industry and subsequently recommends the projected trends anticipated to be observed in the thermal energy storage market in the upcoming years.
The thermal energy storage market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire thermal energy storage market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volumes (Units) and value (USD Million) from FY 2016 – 2026.
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the thermal energy storage industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the thermal energy storage industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the thermal energy storage market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the thermal energy storage industry. The thermal energy storage market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the thermal energy storage sector. Key strategic developments in the thermal energy storage market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the thermal energy storage market are appropriately highlighted in the report.
Growing construction sector revenues, from both publicly and privately funded projects across the globe and the emergence of energy-efficient solutions, are the major factors that are boosting the demand for thermal energy storage systems in the market. Moreover, the refrigeration and supply of cooling systems have become important across food &beverages, and pharmaceuticals markets to prevent spoilage of food and medicines. Henceforth, a substantial increase in demand for HVAC systems has fueled the sales of thermal energy storage systems. However, technology barriers and lack of technical expertise are expected to hinder the market growth over the forecast years. Furthermore, rising momentum on renewable energy generation such as concentrated solar power is anticipated to proliferate the growth of the thermal energy storage market in upcoming years.
The thermal energy storage market research report delivers an acute valuation and taxonomy of the thermal energy storage industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the thermal energy storage industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the thermal energy storage industry is provided for the leading economies of the world.
The global thermal energy storage market has been segmented into technology, storage material, and end-users. The technology has been categorized into sensible heat storage, latent heat storage, and thermal heat storage. The storage material has been classified into the water, molten salt, and phase change material (PCM), among others. The end-user has been fragmented into commercial and industrial, utilities, and residential.
Top Market Players
Some of the essential players operating in the global thermal energy storage market, but not restricted to include Baltimore Aircoil International, Cryogel Thermal Energy Storage, Caldwell Energy Company, Dunham Bush, EVAPCO, Inc., CALMAC (Trane), Cristopia (CIAT UK), Araner, Nostromo, FVB Energy Inc., Ground Sun Ltd., Viking Cold Solutions, DN Tanks, Vogt Ice, and Sunwell among others.
The taxonomy of the thermal energy storage market by its scope and segmentation is as follows:
Global Thermal Energy Storage Market: ByTechnologySegmentation Analysis (Customizable)
Global Thermal Energy Storage Market: By Storage Material Segmentation Analysis (Customizable)
Global Thermal Energy Storage Market: By End UsersSegmentation Analysis (Customizable)
Global Thermal Energy Storage Market: Regional Segmentation Analysis (Customizable)
KEY REPORT POINTERS & HIGHLIGHTS:
Table of Content
Key Insights from Primary Research
Key Recommendations from Analysts
Industry Major Market Players
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