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Thermal Energy Storage Market Share

  • Report ID: GMI2589
  • Published Date: Mar 2023
  • Report Format: PDF

Thermal Energy Storage Market Share

Major players operating across the market include

  • DN Tanks
  • Caldwell Energy Company
  • Abengoa
  • Siemens Gamesa Renewable Energy, S.A
  • Burns & McDonnell
  • McDermott
  • Baltimore Aircoil Company
  • FAFCO, Inc.
  • Dunham Bush
  • FAFCO, Inc.
  • Steffes
  • Goss Engineering, Deepchill Solutions Inc.

Continuous innovations toward advanced thermal energy storage systems to enhance the demand for uninterrupted power supply will upsurge the market demand.

For instance, in October 2022, McDermott signed a deal with Hydrostar Incorporated for engineering design of Silver City Energy Storage Project located in New South Wales, Australia. The contract will provide full FEED services for a 200 MW compressed air energy storage project which can discharge electricity up to eight hours at a time.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of thermal energy storage crossed USD 36 million in 2022 and is set to progress at over 7.5% gains through 2032 owing to supportive laws and financial plans for producing renewable energy.

The district heating & cooling application accounted for USD 1.5 billion revenue in 2022 due to significant investments in the implementation of district heating and cooling systems across industries.

The sensible heat segment registered over 8 GW in 2022 owing to the soaring suitability of the technology in district heating & cooling systems and the mounting demand for solar thermal technology systems.

The Asia Pacific is slated to acquire over 45% of the market share by 2032 on account of the widespread use of thermal energy storage technology for producing heat in a variety of applications and supportive governmental requirements in the region.

Thermal Energy Storage Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 743
  • Countries covered: 16
  • Pages: 410
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