Thermal Energy Storage Market 2020 - Present Market Value Along with Future Market Value Expectation

Thermal energy storage, also known as heat storage, is a highly efficient and simple method of transfer that does not involve any chemical conversion. It is an advanced energy technology for different thermal applications such as space heating and cooling & air conditioning.

Thermal Energy Storage Market was valued at $3,988 million in 2016, and is estimated to reach $8,862 million by 2023, registering a CAGR of 10.9% from 2017 to 2023. In 2016, the sensible heat storage segment accounted for more than half share of the total market.

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Lack of awareness with respect to storage technology, additional cost associated with the use of thermal energy storage system, and need of highly skilled technicians to maintain the system restrain the market growth during the forecast period. In addition, increase in adoption of renewable technology is expected to deliver the substantial growth opportunity in the near future.

Key Findings of the Thermal Energy Storage Market:
• In 2016, North America dominated the global market, with around half share in the overall market.
• The latent heat storage segment is estimated to grow at the highest CAGR of 11.5% from 2017 to 2023.
• In 2016, the water segment accounted for more than one third share in global market.
• The phase change material (PCM) segment is estimated to grow at the highest CAGR of 11.4% during the forecast period.

In 2016, the water segment is the most commercially used heat storage medium. Moreover, storage of sensible heat in water dominates the global market, owing to the ease of use and cost. The utility segment dominated the global market in 2016, in terms of both value and volume.

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The key companies profiled in the report include Calmac, Abengoa Solar, Caldwell Energy, Baltimore Aircoil Company Inc., Chicago Bridge & Iron Company, BrightSource Energy Inc., DC Pro Engineering LLC., Burns & McDonnell, Evapco Inc., and DN Tanks.

Table of Content:
CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tool & model

CHAPTER 2. EXECUTIVE SUMMARY

2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. MARKET PLAYER POSITIONING
3.4. PORTER’S FIVE FORCES ANALYSIS
3.5. MARKET DYNAMICS
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