Thermal Energy Storage Market

Thermal Energy Storage Market by Technology (Sensible, Latent, and TCS), Storage Material (Water, Molten Salt, and PCM), Application (Power Generation, District Heating & Cooling, and Process Heating & Cooling), End-User, and Region - Global Forecast to 2022

Report Code: EP 5089 Mar, 2017, by marketsandmarkets.com

[142 Pages Report] The overall thermal energy storage market is expected to grow from USD 3.33 billion in 2016 to USD 6.20 billion by 2023, at a CAGR of 11.03% from 2018 to 2023. Rising impetus on renewable energy generation such as concentrated solar power, increasing demand for thermal energy storage systems in HVAC, and government incentives for thermal energy storage systems are expected to drive the growth of thermal energy storage market. High demand in CSP, especially in the Middle East & African region offers lucrative opportunity for thermal energy storage market. The base year considered for the study is 2017, and the forecast has been provided for the period between 2018 and 2023.

Market Dynamics

Drivers

  • Rising impetus on renewable energy generation such as concentrated solar power
  • Increasing demand for thermal energy storage systems in HVAC
  • Government incentives for thermal energy storage systems

Restraints

  • High grid interconnection barriers
  • Lack of technical expertise

Opportunities

  • High demand in CSP, espically in the Middle East & African region

Challenges

  • High intial set-up cost

Rising impetus on renewable energy generation such as concentrated solar power drives the global thermal energy storage market

Concentrated Solar Power (CSP) when combined with Thermal Energy Storage (TES) offers grid flexibility and is commonly coupled with TES as well as conventional fuels. Unlike other renewable generation resources, such as solar photovoltaics (PV) or wind, it is easily dispatch able. Ongoing research in TES technologies has increased interest in CSP, as it uses thermal energy of sunlight to generate electricity. Parabolic troughs and power towers are the two most common designs which concentrate sunlight against a Heat-Transfer Fluid (HTF), used to drive a steam turbine. CSP is advantageous over non-dispatch able renewable generation sources (PV, wind) and the design of its plant, built with TES, facilitates energy shifting to periods without solar resource. The dispatch ability of CSP with TES enables higher penetration of the grid by providing backup power even during periods of low solar radiation. TES with CSP can reduce efficiency losses by shifting generation to hours with lower ambient temperatures associated with dry cooling, thus, driving the TES market.

Thermal Energy Storage Market

To know about the assumptions considered for the study, download the pdf brochure

The following are the major objectives of the study.

  • To describe and forecast the thermal energy storage market, in terms of value, by technology, storage material, application, end-user, and region
  • To describe and forecast the thermal energy storage market, in terms of value, by region– Asia- Pacific, Europe, the Americas, and the Middle East & Africa along with their respective countries
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of thermal energy storage
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the thermal energy storage ecosystem
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the thermal energy storage market

During this research study, major players operating in the thermal energy storage market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

Thermal Energy Storage Market

The ecosystem of the global thermal energy storage market starts with suppliers of basic components or equipment, where the manufactured parts or sub-assemblies are then assembled by the Original Equipment Manufacturer (OEM) to store thermal energy. This is followed by the distribution stage, following which the product is provided to the end-users. Distribution is the next stage of the supply chain. The top players in the industry, market their products through self-operated sales offices located near target markets, while regional players rely on distribution partnerships to access diverse markets. Some of the major players in the thermal energy storage market are Ice Energy (U.S.), Calmac (U.S.), DN Tanks (U.S.), Abengoa Solar (Spain), SolarReserve, LLC (U.S.), and Burns & McDonnell (U.S.) among others.

Major Market Developments

  • In January 2016, SolarReserve’s 110 MW Crescent Dunes Solar Energy Project received USD 78 million from Capital One Bank (U.S.). This project uses molten salt storage technology, enabling operation round the clock. This facility delivers 110 MW of electricity plus 1100 MW energy storage to the Nevada grid under a 25-year power purchase agreement with NV Energy (U.S.).
  • In December 2016, Burns & McDonnell acquired the industrial contractor Azco, Inc. (U.S.). The two companies worked together on multiple projects and recently made a combustion turbine generator for the Empire Riverton power plant in Riverton, Kansas.
  • In May 2016, Tucson Electric Power (U.S.) entered into a long-term agreement with EON SE (Germany) and NextEra Energy Resources (U.S.) for the construction two large energy storage systems which was approved by the Arizona Corporation Commission (U.S.).

Target Audience:

  • Battery storage manufacturers
  • Chillers and tank manufacturers for thermal energy storage
  • Consulting companies in the energy sector
  • Conventional and renewable heating systems providers
  • Environmental associations
  • Government organizations and research institutions
  • Investment banks
  • Regional renewable energy associations
  • Thermal energy storage system providers

Scope of the Report:

    By technology

    • Sensible
    • Latent
    • TCS

    By Storage Material

    • Water
    • Molten Salt
    • PCM
    • Others

    By Application

    • Power Generation
    • District Heating & Cooling
    • Process Heating & Cooling

    By End-User

    • Residential & Commercial
    • Utilities
    • Industrial

    By Region

    • Americas
    • Europe
    • Asia-Pacific
    • Middle East & Africa

Critical questions which the report answers

  • What are new application areas which the thermal energy storage companies are exploring?
  • Which are the key players in the market and how intense is the competition?

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

Further breakdown of region/country specific analysis

Company Information

Detailed analysis and profiling of additional market players (Up to five)

The global thermal energy storage market is projected to grow at a CAGR of 11.0% from 2017 to 2022, to reach a market size of USD 6,199.9 million by 2022. The growth is attributed to rising impetus on renewable energy generation such as concentrated solar power, increasing demand for thermal energy storage systems in HVAC, and government incentives for thermal energy storage systems.

Thermal Energy Storage: Thermal Energy Storage (TES) is a technology that stores thermal energy by either heating or cooling a storage medium. The thermal energy is stored to be used at a later time for heating and cooling applications and power generation. TES systems are used particularly in buildings and industrial processes.


Thermal energy storage system consists of three components, namely, the storage medium, heat transfer mechanism, and containment system. The storage medium stores the thermal energy either in the form of sensible heat, latent heat of the phase change material (PCM), & in the form of reversible chemical reactions (thermochemical storage, TCS) or adsorption or the adhesion of a substance to the surface of another solid or liquid.

The report segments the thermal energy storage market based on technology into sensible heat, latent heat, and thermochemical storage (TCS). The sensible heat thermal energy storage market is expected to dominate global thermal energy storage market till 2022. It will be driven by installation of molten salt based thermal energy storage systems being installed in Concentrated Solar Power Plants (CSP) plants.

The thermal energy storage market has been analyzed with respect to four regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Middle East & Africa is expected to dominate the global thermal energy storage market during the forecast period, owing to enormous solar resources, and large energy intensive industries. The region is expected to be the fastest growing market among other regions, during the forecast period.

Thermal Energy Storage Market

Government incentives for thermal energy storage systems drive the growth of this market

TES helps shifting electrical load by creating and storing ice or cold water during the day or later evening hours, when energy rates are lower. When rates are higher during the afternoon hours, the building’s HVAC system uses this cold resource stored beforehand, to reduce cooling costs, and maintain comfortable facility temperatures. State’s investor-owned utilities (IOUs) administer a wide variety of public-purpose-funded energy efficiency programs. For example, in the U.S., IOUs that offer such programs are Pacific Gas and Electric (PG&E), Southern California Edison (SCE), Southern California Gas (SoCal Gas), San Diego Gas and Electric (SDG&E), and Southwest Gas Corporation (SWG). Rebates are offered for the installation of new distributed generation equipment, specifically wind turbines, Combined Heat and Power (CHP), biogas, fuel cells, and advanced energy storage, through the Self-Generation Incentive Program (SGIP), which is administered by PG&E, SCE, SoCal Gas, and, for customers of SDG&E, the center for sustainable energy. Incentives which range from USD 0.44/watt to USD 1.46/watt, depending on technology, are capped at 3 MW, although there are no criteria for minimum or maximum system size.

Thermal Energy Storage (TES) systems are particularly well-adapted by residential & commercial, utilities, and Industrial end-users, for air-conditioning, heating, ventilation, district energy for heating and cooling, and power generation requirements.

    Residential & Commercial

Residential & commercial sector is one of the key users of thermal energy storage. Thermal energy storage uses off-peak power to provide cooling capacity, by extracting heat from a storage medium. These systems typically use refrigeration equipment which creates a reservoir of cold liquid or solid material at night. The reservoir is tapped during the day to provide cooling capacity.

    Utilities

Electric utilities are incorporated with TES systems as a viable demand-side management option. These systems use ice or chilled-water technologies for storing thermal energy in tanks during utility off-peak hours. This helps in the construction of fewer power plants to meet the peak demand, by shifting customer’s power demand to off-peak hours.

    Industrial

Industrial processes have huge potential for heat recovery, as well as demand load shifts that require nonstop energy during frequent outages. TES systems supplement energy demands for peak plant operational hours. These systems support all types of cyclic loads and shift the electricity generation when energy costs are lower. This energy is served as a backup during a power failure.

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long term?
  • What are the upcoming industry applications for heat pumps?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

The implementation of thermal energy storage is a highly challenging technical task for which proficient and skilled experts are required, and large-scale deployment of thermal energy storage systems might stuck due to lack of resources. In spite of positive actions initiated through government investment in energy storage, there is a scarcity of high level technical expertise.

Thermal energy storage is a new and emerging technology which does not imply the technical know-how at the basic level of the users. Hence, manufacturers need field specific engineers for the erection, procurement, commissioning, and maintenance & overhaul job of the thermal energy storage plant. With large amount of installations of thermal energy storage plants in developed countries of Europe and North America, there is an obvious necessity to contract out the huge workforce possessing technical know-how of thermal energy storage technology. All this demands for high level planning, as the training program involves contribution of end-user customers, vendors of thermal energy storage, and government regulations along with huge capital investment for training, which may restrain the TES market.

Key players in the market include Ice Energy (U.S.), Calmac (U.S.), DN Tanks (U.S.), Abengoa Solar (Spain), and SolarReserve, LLC (U.S.) among others. These players are increasingly undertaking mergers and acquisitions, and contracts & agreements to develop new technologies and products in the market.

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Introduction
           2.1.1 Secondary Data
                     2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                     2.1.2.1 Key Data From Primary Sources
                     2.1.2.2 Key Industry Insights
                     2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions

3 Executive Summary (Page No. - 26)
    3.1 Introduction
    3.2 Historical Backdrop and Evolution
    3.3 Current Scenario
    3.4 Future Outlook
    3.5 Conclusion

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the Middle East & Africa in Thermal Energy Storage
    4.2 Thermal Energy Storage Market Share, By Technology, 2017–2022
    4.3 Thermal Energy Storage Using Water is Expected to Grow at the Highest Growth Rate From 2017 to 2022
    4.4 Market, By Application
    4.5 Market: Storage Material Vis-A-Vis. Technology
    4.6 Americas: the Largest Market in 2016

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Technology
           5.2.2 By Storage Material
           5.2.3 By Application
           5.2.4 By End-User
           5.2.5 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                     5.3.1.1 Rising Impetus on Renewable Energy Generation Such as Concentrated Solar Power
                     5.3.1.2 Increasing Demand for Thermal Energy Storage Systems in Hvac
                     5.3.1.3 Government Incentives for Thermal Energy Storage Systems
           5.3.2 Restraints
                     5.3.2.1 High Grid Interconnection Barriers
                     5.3.2.2 Lack of Technical Expertise
           5.3.3 Opportunities
                     5.3.3.1 High Demand in Csp, Especially in the Middle East & African Region
           5.3.4 Challenges
                     5.3.4.1 High Initial Set-Up Costs

6 Thermal Energy Storage Market, By Technology (Page No. - 46)
    6.1 Introduction
    6.2 Sensible Heat Storage Technology
    6.3 Latent Heat Storage Technology
    6.4 Thermochemical Storage Technology

7 Thermal Energy Storage Market, By Storage Material (Page No. - 52)
    7.1 Introduction
    7.2 Water
    7.3 Molten Salt
    7.4 Phase Change Material (PCM)
    7.5 Others

8 Thermal Energy Storage Market, By Application (Page No. - 58)
    8.1 Introduction
    8.2 Power Generation
    8.3 District Heating & Cooling
    8.4 Process Heating & Cooling

9 Thermal Energy Storage Market, By End-User (Page No. - 63)
    9.1 Introduction
    9.2 Residential & Commercial
           9.2.1 Utilities
    9.3 Industrial

10 Thermal Energy Storage Market, By Region (Page No. - 68)
     10.1 Introduction
     10.2 Asia-Pacific
               10.2.1 By Storage Material
               10.2.2 By Technology
               10.2.3 By Application
               10.2.4 By End-User
               10.2.5 By Country
                           10.2.5.1 China
                           10.2.5.2 India
                           10.2.5.3 Australia
                           10.2.5.4 Rest of Asia-Pacific
     10.3 Europe
               10.3.1 By Storage Material
               10.3.2 By Technology
               10.3.3 By Application
               10.3.4 By End-User
               10.3.5 By Country
                           10.3.5.1 France
                           10.3.5.2 Germany
                           10.3.5.3 Spain
                           10.3.5.4 U.K.
                           10.3.5.5 Italy
                           10.3.5.6 Rest of Europe
     10.4 Americas
               10.4.1 By Storage Material
               10.4.2 By Technology
               10.4.3 By Application
               10.4.4 By End-User
               10.4.5 By Country
                           10.4.5.1 U.S.
                           10.4.5.2 Canada
                           10.4.5.3 Chile
                           10.4.5.4 Rest of Americas
     10.5 Middle East & Africa
               10.5.1 By Storage Material
               10.5.2 By Technology
               10.5.3 By Application
               10.5.4 By End-User
               10.5.5 By Country
                           10.5.5.1 South Africa
                           10.5.5.2 UAE
                           10.5.5.3 Morocco
                           10.5.5.4 Rest of Middle East & Africa

11 Competitive Landscape (Page No. - 94)
     11.1 Overview
     11.2 Market Ranking
     11.3 Competitive Situation & Trends
     11.4 Thermal Energy Storage Market: MnM Dive Vendor Comparison

12 Company Profiles (Page No. - 100)
     12.1 Introduction
     12.2 Abengoa Solar, S.A.
               12.2.1 Products Offered
               12.2.2 Developments, 2011–2014
     12.3 Brightsource Energy, Inc.
               12.3.1 Products Offered
               12.3.2 Developments, 2013–2016
     12.4 Solarreserve, LLC
               12.4.1 Products Offered
               12.4.2 Developments, 2010–2017
     12.5 Baltimore Aircoil Company
               12.5.1 Products Offered
               12.5.2 Developments, (2010–2017)
     12.6 Caldwell Energy
               12.6.1 Products Offered
               12.6.2 Developments, 2014–2016
     12.7 Burns & Mcdonnell
               12.7.1 Products Offered
               12.7.2 Developments, 2010–2016
     12.8 Calmac
               12.8.1 Products Offered
               12.8.2 Developments, 2013–2016
     12.9 Cristopia Energy Systems
               12.9.1 Products Offered
               12.9.2 Developments, 2014–2016
     12.10 Cryogel
               12.10.1 Products Offered
               12.10.2 Developments, 2010–2016
     12.11 Dc Pro Engineering
               12.11.1 Products Offered
               12.11.2 Developments, 2008–2016
     12.12 Dunham-Bush Holding Bhd.
               12.12.1 Products Offered
               12.12.2 Developments, 2009
     12.13 Energy Storage Association
               12.13.1 Products Offered
               12.13.2 Developments, 2014–2016
     12.14 Goss Engineering
               12.14.1 Products Offered
               12.14.2 Developments, 2008–2017
     12.15 Ice Energy
               12.15.1 Products Offered
               12.15.2 Developments, 2014–2017
     12.16 International District Energy Association
               12.16.1 Developments, 2014–2016
     12.17 Natgun Corporation (DN Tanks)
               12.17.1 Products Offered
               12.17.2 Developments, 2014–2016
     12.18 Steffes Corporation
               12.18.1 Products Offered
               12.18.2 Developments, 2014–2016
     12.19 Tas Energy Inc.
               12.19.1 Products Offered
               12.19.2 Developments, 2014–2016
     12.20 Evapco, Inc.
               12.20.1 Products Offered
     12.21 Fafco (Icestor)
               12.21.1 Products Offered
     12.22 Icelings
               12.22.1 Products Offered
     12.23 Sunwell Technologies
               12.23.1 Products Offered
     12.24 Qcoefficient
               12.24.1 Products Offered
     12.25 Finetex EnE
               12.25.1 Products Offered
     12.26 Chicago Bridge & Iron Company
               12.26.1 Products Offered

13 Appendix (Page No. - 133)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (61 Tables)

Table 1 Thermal Energy Storage Market Size, By Type, 2015–2022 (USD Million)
Table 2 Sensible Heat: Market Size, By Region, 2015–2022 (USD Million)
Table 3 Global Sensible: Market Size, By Storage Material, 2015–2022 (USD Million)
Table 4 Latent Heat: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Thermochemical Storage: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Global Latent & Thermochemical: Thermal Energy Storage, By Storage Material, 2015–2022 (USD Million)
Table 7 Global Market Size, By Storage Material, 2015–2022 (USD Million)
Table 8 Water: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Molten Salt: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Phase Change Material: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Market Size, By Application, 2015–2022 (USD Million)
Table 13 Power Generation: Market Size, By Region, 2015–2022 (USD Million)
Table 14 District Heating & Cooling: Thermal Energy Storage Market Size, By Region, 2015–2022 (USD Million)
Table 15 Process Heating & Cooling: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Thermal Energy Storage Market Size, By End-User, 2015–2022 (USD Million)
Table 17 Residential & Commercial: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Industrial: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Market Size, By Region, 2015–2022 (USD Million)
Table 21 Top 5 Countries: Thermal Energy Storage Market, 2015–2022 (USD Million)
Table 22 Sensible Market Size, By Top 5 Countries, 2015–2022 (USD Million)
Table 23 Asia-Pacific: Market Size, By Storage Material, 2015–2022 (USD Million)
Table 24 Asia-Pacific: Market Size, By Technology, 2015–2022 (USD Million)
Table 25 Asia-Pacific Market Size, By Application, 2015–2022 (USD Million)
Table 26 Asia-Pacific Market Size, By End-User, 2015–2022 (USD Million)
Table 27 Asia-Pacific Market Size, By Country, 2015–2022 (USD Million)
Table 28 China Market Size, By Technology, 2015–2022 (USD Million)
Table 29 Indian Market, By Technology, 2015–2022 (USD Million)
Table 30 Australian Market Size, By Technology, 2015–2022 (USD Million)
Table 31 Rest of Asia-Pacific Market Size, By Technology, 2015–2022 (USD Million)
Table 32 European Market Size, By Storage Material, 2015–2022 (USD Million)
Table 33 European Market Size, By Technology, 2015–2022 (USD Million)
Table 34 European Market Size, By Application, 2015–2022 (USD Million)
Table 35 European Market Size, By End-User, 2015–2022 (USD Million)
Table 36 European Market Size, By Country, 2015–2022 (USD Million)
Table 37 France Market Size, By Technology, 2015–2022 (USD Million)
Table 38 German Market Size, By Technology, 2015–2022 (USD Million)
Table 39 Spain Market Size, By Technology, 2015–2022 (USD Million)
Table 40 U.K. Market Size, By Technology, 2015–2022 (USD Million)
Table 41 Italian Market Size, By Technology, 2015–2022 (USD Million)
Table 42 Rest of Europe Market Size, By Technology, 2015–2022 (USD Million)
Table 43 Americas Market Size, By Storage Material, 2015–2022 (USD Million)
Table 44 Americas: Sensible Market Size, By Storage Material, 2015–2022 (USD Million)
Table 45 Americas Market Size, By Technology, 2015–2022 (USD Million)
Table 46 American Market Size, By Application, 2015–2022 (USD Million)
Table 47 American Market Size, By End-User, 2015–2022 (USD Million)
Table 48 American Market Size, By Country, 2015–2022 (USD Million)
Table 49 U.S. Market Size, By Technology, 2015–2022 (USD Million)
Table 50 Canadian Market Size, By Technology, 2015–2022 (USD Million)
Table 51 Chile Market Size, By Technology, 2015–2022 (USD Million)
Table 52 Rest of Americas Market Size, By Technology, 2015–2022 (USD Million)
Table 53 Middle East & African Market Size, By Storage Material, 2015–2022 (USD Million)
Table 54 Middle East & African Market Size, By Technology, 2015–2022 (USD Million)
Table 55 Middle East & African Market Size, By Application, 2015–2022 (USD Million)
Table 56 Middle East & African Market Size, By End-User, 2015–2022 (USD Million)
Table 57 Middle East & African Market Size, By Country, 2015–2022 (USD Million)
Table 58 South African Market Size, By Technology, 2015–2022 (USD Million)
Table 59 UAE Market Size, By Technology, 2015–2022 (USD Million)
Table 60 Morocco Market Size, By Technology, 2015–2022 (USD Million)
Table 61 Rest of Middle East & African Market Size, By Technology, 2015–2022 (USD Million)
 
 
List of Figures (35 Figures)
 
Figure 1 Thermal Energy Storage Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Americas Accounted for the Largest Market Share in the Thermal Energy Storage Market in 2016
Figure 7 Middle East & Africa Projected to Lead the Market From 2017 to 2022
Figure 8 Sensible Heat Segment is Expected to Dominate the Market By 2022
Figure 9 District Heating & Cooling Segment is Expected to Dominate the Thermal Energy Storage Market, 2017–2022
Figure 10 Residential & Commercial End-User Segment is Expected to Lead the Thermal Energy Storage Market, 2017–2022
Figure 11 Company Development Comparison, 2014–2017
Figure 12 Attractive Market Opportunities in the Market During the Forecast Period
Figure 13 Sensible Heat Storage Segment Dominates the Market During the Forecast Period
Figure 14 Molten Salt Segment is Expected to Dominate the Market Till 2022
Figure 15 District Heating & Cooling is the Largest End-User Segment in the Thermal Energy Storage Market, 2017–2022
Figure 16 Latent Heat Thermal Energy Storage Segment Held the Largest Market Share in 2016
Figure 17 Middle East & Africa is Projected to Grow at the Highest Growth Rate From 2017 to 2022
Figure 18 Thermal Energy Storage Market Segmentation
Figure 19 Rising Impetus on Renewable Energy Generation is the Major Driver for the Thermal Energy Storage Market
Figure 20 Global Annual CSP Capacity Additions (Mw), 2014–2021
Figure 21 The Sensible Heat Segment is Expected to Dominate the Thermal Energy Storage Market By 2022
Figure 22 Molten Salt Segment is Expected to Dominate the Thermal Energy Storage Market By 2022
Figure 23 The District Heating & Cooling Segment is Expected to Dominate the Thermal Energy Storage Market By 2022
Figure 24 Residential & Commercial End-User Segment is Expected to Dominate the Thermal Energy Storage Market By 2022
Figure 25 Market Size, By Region (USD Million)
Figure 26 Regional Snapshot: Asia-Pacific Offered Attractive Market Opportunities in 2016
Figure 27 Regional Snapshot: Middle East & Africa Thermal Energy Storage Market
Figure 28 Companies Adopted Contracts & Agreements and Joint Ventures & Collaborations to Capture the Market
Figure 29 Market Ranking, 2016
Figure 30 Battle for Market Share: Contracts & Agreements Was the Key Strategy, 2010–2017
Figure 31 Market Evaluation Framework: Contracts & Agreements Fueled Growth From 2011 to 2016
Figure 32 Vendor Dive Matrix
Figure 33 Product Strategy Comparison
Figure 34 Business Strategy Comparison
Figure 35 Regional Presence of the Top Five Players


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