According to IRENA, global renewable energy installed capacity in 2019 was 176 GW higher than that in 2018an increase of 7.4%. 7500+ companies worldwide approach us every year for their revenue growth inititatives. TES systems can collect energy during sunshine hours and store it in order to shift its delivery to a later time or to facilitate plant output during cloudy weather conditions.

Thermal energy storage stocks solar thermal energy by cooling or heating a storage medium, such as sand, rocks, water, and molten salt, in order to use the stored energy later for cooling and heating applications and power generation. Global top 2000 strategist rely on us for their growth strategies. - 55) 4.1 ATTRACTIVE OPPORTUNITIES IN THERMAL ENERGY STORAGE MARKET FIGURE 14 DECENTRALIZATION OF RENEWABLE ENERGY SECTOR TO DRIVE MARKET DURING FORECAST PERIOD 4.2 MARKET, BY TECHNOLOGY FIGURE 15 SENSIBLE HEAT STORAGE SEGMENT TO DOMINATE MARKET, BY TECHNOLOGY, DURING FORECAST PERIOD 4.3 MARKET, BY STORAGE MATERIAL FIGURE 16 MOLTEN SALTS SEGMENT CAPTURED LARGEST SHARE OF MARKET IN 2019 4.4 MARKET, BY APPLICATION FIGURE 17 DISTRICT HEATING & COOLING SEGMENT CAPTURED LARGEST SHARE OF MARKET IN 2019 4.5 MARKET, BY END USER FIGURE 18 UTILITIES SEGMENT COMMANDED LARGEST SHARE OF MARKET IN 2019 4.6 MARKET, BY REGION FIGURE 19 MARKET IN AMERICAS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 4.7 MARKET IN AMERICAS, BY END USER & COUNTRY FIGURE 20 UTILITIES SEGMENT AND US DOMINATED MARKET IN AMERICAS IN 2019, 5 MARKET OVERVIEW (Page No. This research study involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, World Bank, BP Statistical Review of World Energy 2020, US DOE, and IEA, to identify and collect information useful for a technical, market-oriented, and commercial study of the global thermal energy storage market. The deployment of decentralized renewable energy is powering a disrupting transformation of the energy sector. Industrial bulk consumption, self-consumption, and the application of distributed storage can yield benefits for both end users and the power system as a whole. This facilitates uninterrupted operations of CSP plants. [219 Pages Report] The global thermal energy storage market size is projected to reach USD 369 million by 2025, at a CAGR of 14.4%, from an estimated USD 188 million in 2020. Being able to differentiate between the perks of battery and thermal energy storage, two of the most common solutions available, is vital for utilities and power plant operators considering deployment in the near future. After that, the market breakdown and data triangulation were done to estimate the market size of the segments and subsegments. - 37) 2.1 RESEARCH DATA FIGURE 1 THERMAL ENERGY STORAGE MARKET: RESEARCH DESIGN 2.2 MARKET BREAKDOWN AND DATA TRIANGULATION FIGURE 2 DATA TRIANGULATION METHODOLOGY 2.2.1 SECONDARY DATA 2.2.1.1 Key data from secondary sources 2.2.2 PRIMARY DATA 2.2.2.1 Key data from primary sources 2.2.2.2 Breakdown of primaries TABLE 1 THERMAL ENERGY STORAGE MARKET: PLAYERS/COMPANIES CONNECTED 2.3 SCOPE FIGURE 3 MAIN METRICS CONSIDERED IN ASSESSING DEMAND FOR MARKET 2.4 MARKET SIZE ESTIMATION 2.4.1 BOTTOM-UP APPROACH FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 2.4.2 TOP-DOWN APPROACH FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 2.4.3 IDEAL DEMAND-SIDE ANALYSIS 2.4.3.1 Assumptions 2.4.3.2 Limitations 2.4.3.3 Calculation 2.4.4 FORECAST 2.4.5 SUPPLY-SIDE ANALYSIS FIGURE 6 MAIN METRICS CONSIDERED IN ASSESSING SUPPLY FOR THERMAL ENERGY STORAGE MARKET 2.4.5.1 Calculation 2.4.5.2 Assumptions FIGURE 7 INDUSTRY CONCENTRATION, 2019 2.5 PRIMARY INSIGHTS, 3 EXECUTIVE SUMMARY (Page No.

Also, sensible heat storage technology is the most cost-efficient when it comes to economies of scale. Most of the battery storage projects that system operators (ISOs/RTOs) develop are for short-term energy storage and are not built to replace the traditional grid. Renewable energy distributed through the grid, as well as through mini-grids and off-grid installations, have provided power to 30% of the people who have gained access to electricity since 2000. To speak to our analyst for a discussion on the above findings, click Speak to Analyst, 1 INTRODUCTION (Page No. The research methodology used to estimate the market size includes the following: Global Thermal energy storage Market Size: Bottom-Up Approach. Solar and wind generation in 2018 increased by 28% and 11%, respectively. The economic viability of a TES depends heavily on application and operation needs, including the number and frequency of storage cycles. At the start of 2020, the development of renewable energy technologies in several markets was already challenged by financing, policy uncertainties, and grid integration, which has been intensified further by COVID-19. - 76) 6.1 INTRODUCTION 6.1.1 IMPACT OF COVID-19 ON GDP TABLE 8 GDP ANALYSIS (%) 6.1.2 SCENARIO ANALYSIS OF GLOBAL POWER SECTOR FIGURE 28 ANNUAL AVERAGE GROWTH RATE OF ELECTRICITY DEMAND, 20172020 6.1.3 OPTIMISTIC SCENARIO TABLE 9 OPTIMISTIC SCENARIO: MARKET, BY REGION, 20182025 (USD THOUSAND) 6.1.4 REALISTIC SCENARIO TABLE 10 REALISTIC SCENARIO: MARKET, BY REGION, 20182025 (USD THOUSAND) 6.1.5 PESSIMISTIC SCENARIO TABLE 11 PESSIMISTIC SCENARIO: MARKET, BY REGION, 20182025 (USD THOUSAND), 7 THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY (Page No. This can be achieved through continuous policy support to CSP projects across the Middle East and Africa, Asia Pacific, and North America regions. These facilities are used for grid reliability, to integrate renewables into the grid, and to provide relief to the energy grid during peak hours. TCS systems can reach storage capacities of up to 250 kWh/t with operation temperatures of more than 300C and efficiencies from 75% to nearly 100%. According to IRENA, accelerated deployment of renewables, along with electrification and increasing energy efficiency of electric grid, can help to achieve over 90% of the energy-related carbon dioxide (CO2) emission reductions required to meet the Paris Climate targets by 2050. - 175) 14.1 INTRODUCTION 14.2 LIMITATIONS 14.3 ENERGY STORAGE INTERCONNECTED MARKETS 14.4 CONCENTRATING SOLAR POWER (CSP) MARKET 14.4.1 MARKET DEFINITION 14.4.2 LIMITATIONS 14.4.3 MARKET OVERVIEW 14.4.4 CONCENTRATING SOLAR POWER MARKET, BY TECHNOLOGY TABLE 118 CONCENTRATING SOLAR POWER MARKET, BY TECHNOLOGY, 20182025 (USD MILLION) 14.4.4.1 Solar power towers TABLE 119 SOLAR POWER TOWERS: CONCENTRATING SOLAR POWER MARKET SIZE, BY REGION, 20182025 (USD MILLION) 14.4.4.2 Linear concentrating systems TABLE 120 LINEAR CONCENTRATING SYSTEMS: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.4.3 Stirling dish technology TABLE 121 STIRLING DISH TECHNOLOGY: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.5 CONCENTRATING SOLAR POWER MARKET, BY OPERATION TYPE TABLE 122 CONCENTRATING SOLAR POWER MARKET, BY OPERATION TYPE, 20182025 (USD MILLION) 14.4.5.1 Stand-alone systems TABLE 123 STAND-ALONE SYSTEMS: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.5.2 With storage TABLE 124 WITH STORAGE: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.6 CONCENTRATING SOLAR POWER MARKET, BY CAPACITY TABLE 125 CONCENTRATING SOLAR POWER MARKET, BY CAPACITY, 20182025 (USD MILLION) 14.4.6.1 Less than 50 MW TABLE 126 LESS THAN 50 MW: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.6.2 50 MW to 99 MW TABLE 127 50 MW TO 99 MW: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.6.3 100 MW and Above TABLE 128 100 MW AND ABOVE: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.7 CONCENTRATING SOLAR POWER MARKET, BY END USER TABLE 129 CONCENTRATING SOLAR POWER MARKET, BY END USER, 20182025 (USD MILLION) 14.4.7.1 Utilities TABLE 130 UTILITIES: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.7.2 EOR TABLE 131 EOR: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.7.3 Others TABLE 132 OTHERS: CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.4.8 CONCENTRATING SOLAR POWER MARKET, BY REGION TABLE 133 GLOBAL CONCENTRATING SOLAR POWER MARKET, CAPACITY, BY REGION, 20182025 (IN MW) TABLE 134 GLOBAL CONCENTRATING SOLAR POWER MARKET, BY REGION, 20182025 (USD MILLION) 14.5 RESIDENTIAL ENERGY STORAGE MARKET 14.5.1 MARKET DEFINITION 14.5.2 LIMITATIONS 14.5.3 MARKET OVERVIEW 14.5.4 RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING TABLE 135 RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY POWER RATING, 20172024 (USD MILLION) 14.5.4.1 36 kW TABLE 136 36 KW: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.4.2 610 kW TABLE 137 610 KW: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.5 RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY TABLE 138 RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY TECHNOLOGY, 20172024 (USD MILLION) 14.5.5.1 Lithium-ion TABLE 139 LITHIUM-ION: GLOBAL RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.5.2 Leadacid TABLE 140 LEADACID: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.6 RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE TABLE 141 RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY OWNERSHIP TYPE, 20172024 (USD MILLION) 14.5.6.1 Customer owned TABLE 142 CUSTOMER OWNED: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.6.2 Utility owned TABLE 143 UTILITY OWNED: RESIDENTIAL ENRGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.6.3 Third-party owned TABLE 144 THIRD-PARTY OWNED: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.7 RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE TABLE 145 RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY OPERATION TYPE, 20172024 (USD MILLION) 14.5.7.1 Standalone systems TABLE 146 STANDALONE SYSTEMS: GLOBAL RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.7.2 Solar and storage TABLE 147 SOLAR AND STORAGE: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.8 RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE TABLE 148 RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY CONNECTIVITY TYPE, 20172024 (USD MILLION) 14.5.8.1 On-grid TABLE 149 ON-GRID: GLOBAL RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.8.2 Off-grid TABLE 150 OFF-GRID: RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.5.9 RESIDENTIAL ENERGY STORAGE MARKET, BY REGION TABLE 151 RESIDENTIAL ENERGY STORAGE MARKET SIZE, BY REGION, 20172024 (USD MILLION) 14.6 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM (DERMS) MARKET 14.6.1 MARKET DEFINITION 14.6.2 LIMITATIONS 14.6.3 MARKET OVERVIEW 14.6.4 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM (DERMS) MARKET, BY TECHNOLOGY TABLE 152 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY TECHNOLOGY, 20152022 (USD MILLION) 14.6.4.1 Solar PV TABLE 153 SOLAR PV: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.4.2 Wind TABLE 154 WIND: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.4.3 Energy Storage TABLE 155 ENERGY STORAGE: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.4.4 Combined Heat & Power (CHP) TABLE 156 COMBINED HEAT & POWER: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.4.5 Others TABLE 157 OTHERS: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.5 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM (DERMS) MARKET, BY SOFTWARE TABLE 158 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY SOFTWARE, 20152022 (USD MILLION) 14.6.5.1 Analytics TABLE 159 ANALYTICS: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.5.2 Management & Control TABLE 160 MANAGEMENT & CONTROL: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.5.3 Virtual Power Plants TABLE 161 VIRTUAL POWER PLANTS: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.6 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM (DERMS) MARKET, BY END-USER TABLE 162 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY END-USER INDUSTRY, 20152022 (USD MILLION) 14.6.6.1 Industrial TABLE 163 INDUSTRIAL: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM, MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.6.2 Government & Municipalities TABLE 164 GOVERNMENT & MUNICIPALITIES: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.6.3 Commercial TABLE 165 COMMERCIAL: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM, MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.6.4 Military TABLE 166 MILITARY: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM, MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.6.5 Residential TABLE 167 RESIDENTIAL: DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM, MARKET SIZE, BY REGION, 20152022 (USD MILLION) 14.6.7 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM (DERMS) MARKET, BY REGION TABLE 168 DISTRIBUTED ENERGY RESOURCE MANAGEMENT SYSTEM MARKET SIZE, BY REGION, 20152022 (USD MILLION), 15 APPENDIX (Page No. - 80) 7.1 INTRODUCTION TABLE 12 TECHNOLOGY COMPARISON FIGURE 29 SENSIBLE HEAT SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING FORECAST PERIOD TABLE 13 MARKET SIZE, BY TECHNOLOGY, 20182025 (USD THOUSAND) 7.2 SENSIBLE HEAT STORAGE TECHNOLOGY 7.2.1 HIGH DEMAND FOR MOLTEN SALTS FOR THERMAL ENERGY STORAGE IS DRIVING SENSIBLE HEAT STORAGE TECHNOLOGY DEMAND TABLE 14 LIST OF STORAGE MATERIALS FOR SENSIBLE HEAT STORAGE TABLE 15 SENSIBLE HEAT STORAGE: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 7.3 LATENT HEAT STORAGE TECHNOLOGY 7.3.1 DEVELOPMENT OF PHASE CHANGE MATERIALS IS LIKELY TO DRIVE MARKET TABLE 16 LIST OF STORAGE MATERIALS FOR LATENT HEAT STORAGE TABLE 17 LATENT HEAT STORAGE: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 7.4 THERMOCHEMICAL STORAGE TECHNOLOGY 7.4.1 US OFFERS HIGH POTENTIAL FOR GROWTH OF THERMOCHEMICAL STORAGE TECHNOLOGY TABLE 18 THERMOCHEMICAL STORAGE: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND), 8 THERMAL ENERGY STORAGE MARKET, BY STORAGE MATERIAL (Page No. - 87) 8.1 INTRODUCTION FIGURE 30 MOLTEN SALTS SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING 20202025 TABLE 19 MARKET SIZE, BY STORAGE MATERIAL, 20182025 (USD THOUSAND) 8.2 WATER 8.2.1 WATER-BASED THERMAL ENERGY STORAGE SYSTEMS REQUIRE LOW INVESTMENT TABLE 20 WATER: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 8.3 MOLTEN SALT 8.3.1 LITHIUM SALTS 8.3.1.1 Good thermophysical properties and low costs of lithium salts make them more demandable for CSP thermal plants 8.3.2 POTASSIUM SALTS 8.3.2.1 Binary and ternary salts, including potassium nitrate, make good storage materials for thermal energy storage TABLE 21 MOLTEN SALT: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 8.4 PHASE CHANGE MATERIALS (PCM) 8.4.1 PCMS ENABLE TARGET-ORIENTED DISCHARGING TEMPERATURES TABLE 22 PHASE CHANGE MATERIALS: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 8.5 OTHERS TABLE 23 OTHERS: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND), 9 THERMAL ENERGY STORAGE MARKET, BY APPLICATION (Page No.

Abengoa Solar, Burns & McDonnell, SolarReserve, BrightSource Energy, Calmac, MAN Energy Solutions, and Baltimore Air Coil Technology are the leading players in the market. Costs of phase change material- and thermo-chemical storage-based thermal storage systems are usually higher in comparison to the cost of storage capacity they provide. Both top-down and bottom-up approaches have been used to estimate and validate the size of the global thermal energy storage market and its dependent submarkets. - 153)(Business overview, Products/solutions/services offered, Recent Developments,SWOT Analysis, MNM view)* 13.1 ABENGOA FIGURE 41 ABENGOA: COMPANY SNAPSHOT 13.2 MAN ENERGY SOLUTIONS 13.3 BRIGHTSOURCE ENERGY 13.4 BALTIMORE AIRCOIL COMPANY 13.5 SOLARRESERVE 13.6 CALDWELL ENERGY 13.7 BURNS & MCDONNELL 13.8 CRISTOPIA ENERGY 13.9 CRYOGEL THERMAL ENERGY STORAGE 13.10 DUNHAM BUSH 13.11 STEFFES CORPORATION 13.12 TURBINE AIR SYSTEMS (TAS) 13.13 EVAPCO 13.14 CALMAC 13.15 CB&I (MCDERMOTT) 13.16 LIME 13.17 VOGTICE 13.18 SUNWELL TECHNOLOGIES 13.19 DC PRO ENGINEERING 13.20 FAFCO. All these factors have been considered for the scenario analysis of COVID-19 impact on the global thermal energy storage market.

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. - 211) 15.1 INSIGHTS OF INDUSTRY EXPERTS 15.2 DISCUSSION GUIDE 15.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 15.4 AVAILABLE CUSTOMIZATIONS 15.5 RELATED REPORTS 15.6 AUTHOR DETAILS. The thermal energy storage is driven by major factors such as increasing demand for electricity and the rising consumption of solar CSP. Costs of latent heat storage systems based on PCMs range between Euros 10/kWh50/kWh (USD 10.7/kWh53.5/kWh) while TCS costs are estimated to range from Euros 8/kWh100/kWh (USD 8.56/kWh107/kWh). ice). To achieve 100% electrification rate by 2030, the share of decentralized renewable energy share will need to increase significantly. - 98) 10.1 INTRODUCTION FIGURE 32 UTILITIES SEGMENT IS EXPECTED TO CONTINUE TO DOMINATE MARKET DURING FORECAST PERIOD TABLE 28 MARKET SIZE, BY END USER, 20182025 (USD THOUSAND) 10.2 UTILITIES 10.2.1 INCREASING FOCUS ON POWER LOAD MANAGEMENT DURING PEAK HOURS IS DRIVING DEMAND FROM UTILITIES TABLE 29 UTILITIES: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 10.3 COMMERCIAL 10.3.1 THERMAL ENERGY STORAGE SYSTEMS ARE USED FOR HVAC APPLICATIONS IN COMMERCIAL SECTOR TABLE 30 COMMERCIAL: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 10.4 INDUSTRIAL 10.4.1 HIGH VOLUMES OF WASTE HEAT GENERATED IN INDUSTRIES IS ENCOURAGING USE OF TES SYSTEMS FOR PROCESS HEATING & COOLING APPLICATIONS TABLE 31 INDUSTRIAL: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND), 11 THERMAL ENERGY STORAGE MARKET, BY REGION (Page No. Some of the key CSP thermal energy storage technologies include single-tank thermocline system, two-tank indirect system, and two-tank direct system. Hydro contributed 1,200 TWh (increased by 3.2%), wind contributed 366 TWh (increased by 20%), PV contributed 177.5 TWh (increased by 50%), and biomass contributed 90.6 TWh (increased by 14%) to the countrys overall energy generation from renewables. - 93) 9.1 INTRODUCTION FIGURE 31 DISTRICT HEATING & COOLING SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING 20202025 TABLE 24 MARKET SIZE, BY APPLICATION, 20182025 (USD THOUSAND) 9.2 POWER GENERATION 9.2.1 UPCOMING CSP PROJECTS TO DRIVE POWER GENERATION APPLICATION OF THERMAL ENERGY STORAGE TABLE 25 POWER GENERATION: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 9.3 DISTRICT HEATING & COOLING 9.3.1 EVOLVING SMART CITY CONCEPT AND HVAC APPLICATIONS IN MIDDLE EAST AND EUROPEAN COUNTRIES IS DRIVING MARKET GROWTH TABLE 26 DISTRICT HEATING & COOLING: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND) 9.4 PROCESS HEATING & COOLING 9.4.1 INCREASING DEMAND FOR THERMAL ENERGY STORAGE TO PROVIDE HEATING AND COOLING SOLUTIONS FOR ENERGY-INTENSIVE INDUSTRIES IS FUELING MARKET GROWTH TABLE 27 PROCESS HEATING & COOLING: MARKET SIZE, BY REGION, 20182025 (USD THOUSAND), 10 THERMAL ENERGY STORAGE MARKET, BY END USER (Page No. Generation growth returned to its long-term trend, due to a recovery in the hydropower sector. Which region dominates during the forecasted period in the thermal energy storage market? The demand side of this market is characterized by estimating the year-on-year installed power generation capacity and replacement of power generation capacity each year.

To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. In addition, countries are likely to make investments in renewables a key part of stimulus packages to reinvigorate their economies. In most cases, storage is based on a solid or liquid phase change with energy densities on the order of 100 kWh/ m3 (e.g. Decarbonization of the energy sector and reduction of carbon emissions in order to cap the global climate change are some of the most hegemonic goals for governments, energy authorities, and utilities across the world. However, costs related with storage projects need to be reduced and become cost-efficient at scale to observe increased deployment. Cristopia Energy, Cryogel, Caldwell Energy, Dunham Bush, Goss Engineering, Steffes Corporation, DN Tanks, Turbine Air Systems (TAS), Evapco Inc., Fafco, Sunwell Tehnologies, DC Pro Engineering, CB&I (McDermott), and LIME are other players operating in the market are the leading players in the global thermal energy storage market. According to the Renewable Energy World, in China, power generation from renewable energy sources reached up to 1,870 TWh in 2018 (26.7% of the countrys total), which is an increase of 170 TWh. According to the Union of the Electricity Industry (Eurelectric AISBL), new investments by utilities are likely to decrease by 10 to 15% due to the COVID-19 outbreak. It will use molten salt for its storage and uses parabolic tower systems. According to the IRENA, Europes installed CSP capacity is predicted to rise from 2.3 GW in 2017 to 4 GW by 2030, based on the market framework and current costs. In May 2018, SolarReserve expanded by adding 70 MW solar farm to Port Augusta concentrating solar power tower in South Australia. Who are the leading players in the global thermal energy storage market? To know about the assumptions considered for the study, Request for Free Sample Report. The cost of thermal energy storage technologies depends on application, size, and thermal insulation technology. Leading players in the global thermal energy storage market are Abengoa Solar, Burns & McDonnell, SolarReserve, BrightSource Energy, Calmac, MAN Energy Solutions, and Baltimore Air Coil Technology, with high-end technological innovation. Thus, integration of thermal energy storage in CSP plants is likely to drive the market growth. This helps to meet the peak demand with fewer power plants by shifting customers power demand to off-peak hours. After arriving at the overall market sizeusing the market size estimation processes as explained abovethe market was split into segments and subsegments.

It can also reduce the emission of carbon dioxide. For over 70% of those who gain access in rural areas, decentralized systems based on renewable energy will be the most cost-effective solution. Which is the fastest-growing technology segment during the forecasted period in the thermal energy storage market? Air conditioning makes up a third of energy costs in summer months and it would be highly inefficient and costly to store energy in a battery only to have it transformed yet again to create instantaneous cooling. To know about the assumptions considered for the study, download the pdf brochure. In August 2018, SolarReserve signed an agreement with the South Australian Government (Australia) to build a 150 MW solar thermal power station.

The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research. Continued research into energy storage technologies to drive down the upfront capital requirement is anticipated to make thermal energy storage technologies more competitive in the near future. This will be further supplemented by supportive government policies for renewable energy technologies in multiple countries. The Government of India has set a target of installing 175 GW of renewable energy capacity by 2022; this includes adding 60 GW from wind, 10 GW from bio power, 100 GW from solar, and 5 GW from small hydropower to its overall renewable capacity. Most of these facilities use lithium-ion batteries, which provide enough energy to shore up the local grid for approximately 4 hours or less. To define, describe, segment, and forecast the global market by technology, storage material, application, end user, and region, in terms of value, To provide critical analysis of the drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the market, To provide a detailed overview of the thermal energy storage value chain, To strategically analyze the global market with respect to individual growth trends, future expansions, and contribution of each segment to the market, To analyze opportunities in the market for stakeholders and provide details of the competitive landscape of the market, To forecast the growth of the global market in key regions, namely, Americas, Europe, Asia Pacific, and Middle East & Africa, To profile and rank key players and comprehensively analyze their market shares, To analyze competitive developments in the market, such as product launches, investments & expansions, contracts & agreements, expansions & investments, mergers & acquisitions, joint ventures, and partnerships & collaborations, Further breakdown of region or country-specific analysis, Detailed analyses and profiling of additional market players (up to 5). The cost of storage systems constitutes nearly 30% to 40% of the total system cost. Batteries are great for providing backup power for lighting, elevators, and computers whereas thermal energy storage is a building's easiest way of reducing peak electric demand. The speedy growth of decentralized renewable energy technologies is likely to change the structure of the energy sector towards a multi-operator set-up in which large utilities interact with captive consumers and mini-utilities. These systems use ice or chilled water technologies for storing thermal energy in tanks during utility off-peak hours. The decline is represented by delays in construction activities due to supply chain disruptions caused mainly by China, lockdown measures across all major economies, social-distancing guidelines for workers, and the subsequent financing challenges. The net additions of renewable electricity capacity in 2020 are projected to decline by 13% compared with 2019.

Americas is the fastest-growing market for thermal energy storages during the forecast period.

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