Authored By: Sarah
23 Nov 2021

Thermal Energy Storage Market | Market Highlights and Insights to Recovery from COVID-19
Market Forecast and Growth Projections 2021-2025

The Global thermal energy storage market is expected to grow by 2506.87 MW, decelerating at a CAGR of almost 10.40% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Thermal Energy Storage Market: Segments and Leading  Regions

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • The Thermal Energy Storage Market is segmented by Technology (molten salt energy storage and phase change material) and Geography (Europe, North America, APAC, MEA, and South America).
  • In terms of geographic segmentation we found that 33% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Thermal Energy Storage Market size.

Thermal Energy Storage Market Size to Grow by 2506.87 MW through 2021-2025 | Leading Segments and Market Trends

Thermal Energy Storage Market: Trends, Drivers, Challenges to impact growth

The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

  • A key market driver for the Thermal Energy Storage Market will be increasing demand for csp.
  • Growing applications in district energy systems will be instrumental in driving the market growth during the forecast period.
  • One of the key challenges that market players need to contend with in order to achieve further success is the Competition from alternate sources of energy storage.

Thermal Energy Storage Market: Vendor Analysis

  • The market is fragmented.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • Abengoa SA, Acciona SA, Araner, BrightSource Energy Inc., CALMAC, DN Tanks Inc., EnergyNest, Goss Engineering, McDermott International Ltd., and SENER GRUPO DE INGENIERIA S.A. are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is decelerate at a CAGR of almost 10.40%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by 2506.87 MW through 2021-2025.

     
  3. What is a key factor driving this market?
    Increasing demand for CSP will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    Europe, North America, APAC, MEA, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    33% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Abengoa SA, Acciona SA, Araner, BrightSource Energy Inc., CALMAC, DN Tanks Inc., EnergyNest, Goss Engineering, McDermott International Ltd., and SENER GRUPO DE INGENIERIA S.A.

     
  7. What are the market segments covered in this report?
    The market is segmented by Technology (molten salt energy storage and phase change material) and Geography (Europe, North America, APAC, MEA, and South America)
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