Press release
Thermal Energy Storage Market Estimated To Reach a Valuation of US$1.8 bn by 2020
The need for a sustained energy solution for daily needs has fueled demand for thermal energy storage (TES) systems globally. Thermal energy storage systems stock up energy for later use, employing water, ice-slush tanks, rock from the bedrock layer, aquifers, insulated lined pits and eutectic, phase-changing materials (PCMs). Demand for energy can be managed effectively through the usage of TES systems. These systems store solar energy for space heating in the winter and store cold winter air for air conditioning purposes in summer. TES solutions can be implemented in buildings, towns and districts. Sources for TES include heat pumps, peak shaving, heat generated by power plants and heat from waste. TES systems are capable of replacing nearly 50% of the conventionally sourced energy in any industry. These systems also optimize the overall efficiency of energy systems, thus balancing fluctuating demand in the process. TES systems reduce demand for energy during peak hours, lower carbon dioxide emissions and bring down energy consumption by end-consumers.
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This research study is designed to analyze the global market for thermal energy storage both in terms of capacity installation (MW) and revenue (USD Million). The market for thermal energy storage has been segmented based on technology and end-use. The market has also been segmented on a regional level. Regional segments included in this study are North America, Europe, Asia Pacific, and Rest of the World (RoW). The research provides an in-depth analysis of the total demand for thermal energy storage technologies and market revenue of the global thermal energy storage market. The report features a detailed regional segmentation along with growth forecast for the period from 2014 to 2020. Projections have been provided for both technology and end-use segments under each region. The market study on thermal energy storage technologies also provides historical data, detailed analysis, and statistically refined forecast for technology, end-use applications, and regional segments.
The size of the thermal energy storage market has been estimated based on indicators in technology, end-use application, and regional segments. The report includes the key market dynamics affecting demand for thermal energy storage technologies globally. In order to study the market dynamics, we have analyzed market drivers, market restraints, and market opportunities. A comprehensive competitive landscape, which includes company market share analysis and market attractiveness analysis, has also been provided in this report. The report also provides detailed industry analysis of the global thermal energy storage market with the help of Porter’s Five Forces model. This model helps understand the five major forces that affect the industry structure and profitability in the global thermal energy storage market. Bargaining power of buyers, bargaining power of suppliers, threat from new entrants, threat from substitutes, and degree of competition are the forces analyzed through the model.
The study also includes the value chain of the global thermal energy storage market, which provides a glimpse of the upstream, midstream, and downstream players involved in the business as well as their interaction with end-users of technologies. Market share analysis has been conducted considering the thermal energy storage system/capacity installed and the upcoming thermal energy storage projects. The attractiveness analysis involves benchmarking and ranking each technology and region on the basis of numerous parameters. The parameters selected are likely to significantly affect demand for each technology in the current scenario as well as in the near future.
The technology segment analysis has been carried out on the global and regional level. The overall thermal energy storage market has been bifurcated into sensible heat, latent heat, and thermochemical storage technology segments. Primary end-user applications of thermal energy storage systems identified in this market study include commercial and industrial, utilities, and residential applications.
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Key participants in the global thermal energy storage market include CALMAC, EVAPCO, Inc., Chicago Bridge & Iron Company (CB&I), and Goss Engineering, Inc. Other market players that have been profiled in this report include Abengoa Solar, S.A., Baltimore Aircoil Company, Burns & McDonnell, Caldwell Energy, FAFCO Thermal Storage Systems, and TAS Energy. This report provides an overview of these companies, followed by their financial revenue, business strategies, and recent developments.
Global Thermal Energy Storage Market: Technology Segment
Sensible Heat
Latent Heat
Thermochemical Heat
Global Thermal Energy Storage Market: End Use Segment
Commercial and Industrial
Utilities
Residential
Global Thermal Energy Storage Market: Regional Analysis
North America
Europe
Asia Pacific
Rest of the World (RoW)
Table of Contents
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
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Chapter 2 Executive Summary
Chapter 3 Global Thermal Energy Storage Market – Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Drivers
3.3.1.1 Growth in Variable Energy Sources (VES) Drives Adoption of Thermal Energy Storage Technologies
3.3.1.2 Deferral of Transmission and Distribution Upgrades through the Deployment of Thermal Energy Storage Technologies
3.3.1.3 Increasing Desire for Access to Efficient, Reliable, and Price-Competitive Electricity Propels Growth in the Market
3.3.2 Market Restraints
3.3.2.1 High Upfront Investment and Grid Interconnection Barriers Hamper Growth of the Market
3.3.3 Market Opportunity
3.3.3.1 Latent Heat Storage Advancing as an Emerging Application Area of Thermal Energy Storage Systems
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat from Substitutes
3.4.4 Threat from New Entrants
3.4.5 Degree of Competition
3.5 Market Attractiveness Analysis
3.5.1 Market Attractiveness Analysis of Global Thermal Energy Storage Market, by Technology Segment, 2013
3.5.2 Market Attractiveness Analysis of Global Thermal Energy Storage Market, by Regional Segment, 2013
3.6 Company Market Share Analysis
3.6.1 Global Thermal Energy Storage Market: Company Market Share Analysis, 2013
Chapter 4 Global Thermal Energy Storage Market – List and Analysis of Thermal Energy Storage Project
4.1 List of Thermal Energy Storage Projects by Technology, by Country, 2013
4.2 List of Thermal Energy Storage Projects by Installation Type, by Country, by 2013
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