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Thermal Energy Storage Market

Thermal Energy Storage Market (Technology: Sensible Heat, Latent Heat, and Thermochemical Heat; and End-user: Commercial and Industrial, Utilities, and Residential) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Thermal Energy Storage Market Outlook 2031

  • The global thermal energy storage market was valued at US$ 4.3 Bn in 2020
  • It is estimated to expand at a CAGR of 16.3% from 2021 to 2031
  • The global thermal energy storage market is expected to reach the value of US$ 22.6 Bn by the end of 2031

Analysts’ Viewpoint on Thermal Energy Storage Market Scenario

During the ongoing COVID-19 crisis, in the field of energy efficiency, thermal storage is playing a vital role in heat recovery from industrial processes at reasonable prices. TES systems are being used in the field of electrical energy generation in large-scale applications. However, it has been found that the sensible heat technology is anticipated to lose market share, owing to shortcomings such as low storage capacity per volume of the storage media. Hence, companies in the thermal energy storage market should increase awareness about the advantages of the sensible heat technology including its application in solar air receiver systems and HVAC applications for buildings to diversify the implementation of sensible heat.

Increasing Demand for Renewable Energy in North America Benefitting Market Stakeholders

North America is expected to account for the leading revenue share of the thermal energy storage market during the forecast period. Nevertheless, this market in Asia Pacific is estimated to expand at the most robust CAGR throughout the forecast period. North America is a relatively mature market characterized by low regulatory framework for thermal energy storage (TES) technologies. Ongoing improvements in solar thermal generation technologies, along with increasing demand for renewable energy sources in the region is expected to create additional interest in thermal energy storage technologies in the near future.

The thermal energy storage market for concentrated solar plants is relatively mature in North America. Additional installation of concentrated solar plants would create several growth opportunities for thermal storage systems in the near future. Concentrated solar plants with thermal energy storage technologies can shift power generation to hours when solar resources are not available. This can provide backup power during night time or when it is cloudy. The sensible heat storage market holds a considerable share of the overall technologies installed in the region.

Hybridization of TES and Solar Energy Growing Popular During COVID-19 Crisis

The challenges that businesses & institutions are facing are enormous, both in terms of public health and the economy, especially during the ongoing coronavirus crisis. Amid these challenging times, countries are finding it difficult to meet their renewable energy targets. Such trends are translating into revenue opportunities for companies in the thermal energy storage market. In order to achieve these ambitious targets, other forms of storage, such as large-scale thermal storage, must be deployed on a massive basis. These types of solutions are mainly dominated by concentrated solar power generation where companies and market leaders can hybridize solar energy & thermal energy with other storage technologies.

Thermal Energy Storage Offers Safe, Reliable, and Environmental-friendly Operation

TES systems can contribute significantly to meeting society's desire for more efficient and reliable energy storage systems. The value-added renewable energy integration with TES systems offers vast potential for performing low energy design and opens a gateway toward the development of a sustainable future.

Concentrated solar power (CSP) and its integration with thermal energy storage is key to overcoming the intermittency of the solar resource. Hence, operation of solar thermal power can be extended beyond periods of no sunlight. As the popularity of renewable energy increases, the need for energy storage is expected to rise. Thermal energy storage offers safe, reliable, and environment-friendly operation. This is projected to boost the growth of the thermal energy storage market in the upcoming years.

End Users Demand Flexibility of Thermal Energy Storage Technology

Concerns regarding surging fuel prices and glaring ill effects of greenhouse gas emissions (GHG) are necessitating the efforts to effectively employ renewable energy sources across the globe. The demand for advanced energy technologies is increasing due to depleting energy resources, coupled with a continuous rise in energy consumption. Advanced energy technologies help to reduce the consumption of energy and increase energy supply by effectively utilizing renewable energy sources.

However, most renewable energy sources (solar and wind) are intermittent in nature. As a result, the thermal energy storage technology is now being utilized effectively across the globe. For more than a decade, TES technologies have been used to store energy. These technologies are also used to shift peak energy use into off-peak hours. Applications of these technologies can range from seasonal storage of solar energy at high temperature levels to heating, ventilating, and air conditioning (HVAC) at low temperature levels.

Is Sensible Heat Technology a Sustainable Energy Storage Technique?

In terms of installed capacity of thermal energy storage, sensible heat is currently the most prominent technology segment. However, the segment is likely to lose market share by 2031, as sensible heat storage media possesses low storage capacity per volume of the storage media. Additionally, non-isothermal behavior of the material during heat storage and heat releasing processes is likely to result in lowering the share of the sensible heat segment during the forecast period. Nevertheless, companies in the thermal energy storage market should increase awareness about advantages of the sensible heat technology such as easy storage as a bulk material, thus allowing a simpler design system as compared to other storage techniques.

Thermal Energy Storage Market: Overview

  • Thermal Energy Storage (TES) is a form of energy storage, where materials gain energy when their temperature is increased, and lose the energy once their temperature is decreased. TES can help balance energy demand and reduce energy consumption, CO2 emissions, and costs. It can also increase the overall efficiency of energy systems.
  • Increasing use of renewable energy sources during the last two decades has boosted the importance of research and development of energy storage systems. Concerns regarding surging fuel prices and glaring ill effects of greenhouse gas emissions are necessitating the efforts to effectively employ renewable energy sources across the globe.
  • Demand for advanced energy technologies is rising due to depleting energy resources, coupled with continuous rise in energy consumption
  • Advanced energy technologies help reduce the consumption of energy and increase energy supply by effectively utilizing renewable energy sources.
  • Most renewable energy sources (solar and wind) are intermittent. As a result, thermal energy storage (TES) technology is now being utilized effectively across the globe. For more than a decade, TES technologies have been used to store energy. These technologies are also used to shift peak energy use into off-peak hours.
  • Application of these technologies can range from seasonal storage of solar energy at high temperature levels to heating, ventilating, and air conditioning (HVAC) at low temperature levels

Sensible Heat Technology Segment Holds Dominant Share of Thermal Energy Storage Market

  • In terms of installed capacity of thermal energy storage, sensible heat is currently the most prominent technology segment. However, the segment is likely to lose market share by 2031. Sensible heat storage media possesses low storage capacity per volume of the storage media.
  • Additionally, non-isothermal behavior of the material during heat storage and heat releasing processes is likely to result in lowering the share of the sensible heat segment during the forecast period
  • Advancements in the thermal energy storage technology such as latent heat and thermochemical storage have led to a decrease in the share of sensible heat storage technology in the capacity installation mix. The ability of latent heat storage systems to provide density is the primary reason behind their increasing usage worldwide.

North America to Lead Global Market

  • North America accounted for a leading share of the market for thermal energy storage in 2020, and is expected to remain the dominant region during the forecast period. Nevertheless, the market in Asia Pacific is estimated to expand at a robust CAGR through 2031. North America is a relatively mature market characterized by low regulatory framework for thermal energy storage technologies.
  • Recent and ongoing improvements in solar thermal generation technologies, along with the increasing demand for renewable energy sources in the region, are expected to create additional interest in thermal energy storage technologies in the region in the near future
  • The market for concentrated solar plants is relatively mature in North America. Additional installation of concentrated solar plants would create several growth opportunities for thermal storage systems in the near future.
  • Concentrated solar plants with thermal energy storage technologies can shift power generation to hours when solar resources are not available. This can provide backup power during nighttime or when it is cloudy.
  • The sensible heat storage segment holds large share portion of the overall technologies installed in North America

Major Players in Thermal Energy Storage Market

  • Key players operating in the global thermal energy storage market include
    • Calmac
    • Evapco
    • McDermott International Ltd
    • Goss Engineering Inc
    • Trane Technologies Inc
    • Brenmiller Energy
    • Siemens Gamesa Renewable Energy
    • Azelio
    • Abengoa Solar S.A.
    • BrightSource Energy Inc.

Thermal Energy Storage Market Snapshot

Attribute

Detail

Market Size Value in 2020 (Base Year)

US$ 4.3 Bn

Market Forecast Value in 2031

US$ 22.6 Bn

Growth Rate (CAGR)

16.3%

Forecast Period

2021-2031

Quantitative Units

US$ Bn for Value and MegaWatt hours (MWh) for Volume

Competition Landscape

Company Profiles section includes overview, product portfolio, key subsidiaries or distributors, strategy & recent developments, and key financials.

Format

Electronic (PDF) + Excel

Market Segmentation
  • Technology
    • Sensible Heat
    • Latent Heat
    • Thermochemical Heat
  • End-user
    • Commercial and Industrial
    • Utilities
    • Residential

Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Countries Covered
  • U.S.
  • Canada
  • Germany
  • France
  • U.K.
  • Russia & CIS
  • Rest of Europe
  • China
  • Australia
  • India
  • ASEAN
  • Rest of Asia Pacific
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa
  • Brazil
  • Mexico
  • Rest of Latin America

Companies Profiled
  • Calmac
  • Evapco
  • McDermott International Ltd
  • Goss Engineering Inc
  • Trane Technologies Inc
  • Brenmiller Energy
  • Siemens Gamesa Renewable Energy
  • Azelio
  • Abengoa Solar S.A.
  • BrightSource Energy Inc

Customization Scope

Available upon Request

Pricing

Available upon Request

Thermal Energy Storage Market – Segmentation

TMR’s research study assesses the global thermal energy storage market in terms of technology, end-user, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global thermal energy storage market.

Technology
  • Sensible Heat
  • Latent Heat
  • Thermochemical Heat
End-user
  • Commercial and Industrial
  • Utilities
  • Residential
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Frequently Asked Questions

What is the Thermal Energy Storage Market Size?

Thermal Energy Storage Market is expected to Reach US$ 22.6 Bn By 2031

What is the CAGR for Thermal Energy Storage Market?

Thermal Energy Storage Market is estimated to rise at a CAGR of 16.3% during forecast period

What are the key factors driving the growth of Thermal Energy Storage Market?

The demand for advanced energy technologies is increasing due to depleting energy resources, coupled with a continuous rise in energy consumption is expected to drive the Thermal Energy Storage Market

Which region is more attractive for vendors in the Thermal Energy Storage Market?

North America is more attractive for vendors in the Thermal Energy Storage Market

Who are the key players in the Thermal Energy Storage Market?

Key players of Thermal Energy Storage Market are Calmac, Evapco, McDermott International Ltd, Goss Engineering Inc, Trane Technologies Inc, Brenmiller Energy, Siemens Gamesa Renewable Energy, Azelio, Abengoa Solar S.A., and BrightSource Energy Inc

    1. Executive Summary

        1.1. Thermal Energy Storage Market Snapshot

        1.2. Current Market and Future Potential

    2. Market Overview

        2.1. Market Segmentation

        2.2. Market Indicators

        2.3. Market Dynamics

            2.3.1. Drivers

            2.3.2. Restraints

            2.3.3. Opportunities

        2.4. Porter’s Five Forces Analysis

        2.5. Regulatory Analysis

        2.6. Value Chain Analysis

            2.6.1. List of Potential Customers

            2.6.2. List of Suppliers/Manufacturers

    3. Global Production Output Analysis, by Region, 2020

        3.1. North America

        3.2. Europe

        3.3. Asia Pacific

        3.4. Latin America

        3.5. Middle East

    4. COVID-19 Impact Analysis

    5. Global Thermal Energy Storage Market Analysis and Forecast, by Technology, 2020–2031

        5.1. Introduction and Definitions

        5.2. Global Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            5.2.1. Sensible Heat

            5.2.2. Latent Heat

            5.2.3. Thermochemical Heat

        5.3. Global Thermal Energy Storage Market Attractiveness, by Technology

    6. Global Thermal Energy Storage Market Analysis and Forecast, by End-user, 2020–2031

        6.1. Introduction and Definitions

        6.2. Global Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            6.2.1. Commercial and Industrial

            6.2.2. Utilities

            6.2.3. Residential

        6.3. Global Thermal Energy Storage Market Attractiveness, by End-user

    7. Global Thermal Energy Storage Market Analysis and Forecast, by Region, 2020–2031

        7.1. Key Findings

        7.2. Global Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Region, 2020–2031

            7.2.1. North America

            7.2.2. Europe

            7.2.3. Asia Pacific

            7.2.4. Latin America

            7.2.5. Middle East & Africa

        7.3. Global Thermal Energy Storage Market Attractiveness, by Region

    8. North America Thermal Energy Storage Market Analysis and Forecast, 2020–2031

        8.1. Key Findings

        8.2. North America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

        8.3. North America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        8.4. North America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Country, 2020–2031

            8.4.1. U.S. Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            8.4.2. U.S. Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            8.4.3. Canada Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            8.4.4. Canada Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        8.5. North America Thermal Energy Storage Market Attractiveness Analysis

    9. Europe Thermal Energy Storage Market Analysis and Forecast, 2020–2031

        9.1. Key Findings

        9.2. Europe Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

        9.3. Europe Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        9.4. Europe Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Country and Sub-region, 2020-2031

            9.4.1. Germany Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            9.4.2. Germany Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            9.4.3. France Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            9.4.4. France Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            9.4.5. U.K. Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            9.4.6. U.K. Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            9.4.7. Russia & CIS Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            9.4.8. Russia & CIS Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            9.4.9. Rest of Europe Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            9.4.10. Rest of Europe Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        9.5. Europe Thermal Energy Storage Market Attractiveness Analysis

    10. Asia Pacific Thermal Energy Storage Market Analysis and Forecast, 2020–2031

        10.1. Key Findings

        10.2. Asia Pacific Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

        10.3. Asia Pacific Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        10.4. Asia Pacific Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Country and Sub-region, 2020-2031

            10.4.1. China Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            10.4.2. China Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            10.4.3. Japan Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            10.4.4. Japan Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            10.4.5. India Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            10.4.6. India Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            10.4.7. ASEAN Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            10.4.8. ASEAN Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            10.4.9. Rest of Asia Pacific Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            10.4.10. Rest of Asia Pacific Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        10.5. Asia Pacific Thermal Energy Storage Market Attractiveness Analysis

    11. Latin America Thermal Energy Storage Market Analysis and Forecast, 2020–2031

        11.1. Key Findings

        11.2. Latin America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

        11.3. Latin America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        11.4. Latin America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Country and Sub-region, 2020-2031

            11.4.1. Brazil Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            11.4.2. Brazil Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            11.4.3. Mexico Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            11.4.4. Mexico Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            11.4.5. Rest of Latin America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            11.4.6. Rest of Latin America Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        11.5. Latin America Thermal Energy Storage Market Attractiveness Analysis

    12. Middle East & Africa Thermal Energy Storage Market Analysis and Forecast, 2020–2031

        12.1. Key Findings

        12.2. Middle East & Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

        12.3. Middle East & Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        12.4. Middle East & Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Country and Sub-region, 2020-2031

            12.4.1. GCC Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            12.4.2. GCC Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            12.4.3. South Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            12.4.4. South Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

            12.4.5. Rest of Middle East & Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by Technology, 2020–2031

            12.4.6. Rest of Middle East & Africa Thermal Energy Storage Market Volume (MWh) and Value (US$ Bn) Forecast, by End-user, 2020–2031

        12.5. Middle East & Africa Thermal Energy Storage Market Attractiveness Analysis

    13. Competition Landscape

        13.1. Global Thermal Energy Storage Company Market Share Analysis, 2020

        13.2. Company Profiles (Details – Overview, Financials, Recent Developments, and Strategy)

            13.2.1. Calmac

                13.2.1.1. Company Description

                13.2.1.2. Business Overview

                13.2.1.3. Financial Overview

                13.2.1.4. Strategic Overview

            13.2.2. Evapco

                13.2.2.1. Company Description

                13.2.2.2. Business Overview

                13.2.2.3. Financial Overview

                13.2.2.4. Strategic Overview

            13.2.3. McDermott International Ltd

                13.2.3.1. Company Description

                13.2.3.2. Business Overview

                13.2.3.3. Financial Overview

                13.2.3.4. Strategic Overview

            13.2.4. Goss Engineering Inc

                13.2.4.1. Company Description

                13.2.4.2. Business Overview

                13.2.4.3. Financial Overview

                13.2.4.4. Strategic Overview

            13.2.5. Trane Technologies Inc

                13.2.5.1. Company Description

                13.2.5.2. Business Overview

                13.2.5.3. Financial Overview

                13.2.5.4. Strategic Overview

            13.2.6. Brenmiller Energy

                13.2.6.1. Company Description

                13.2.6.2. Business Overview

                13.2.6.3. Financial Overview

                13.2.6.4. Strategic Overview

            13.2.7. Siemens Gamesa Renewable Energy

                13.2.7.1. Company Description

                13.2.7.2. Business Overview

                13.2.7.3. Financial Overview

                13.2.7.4. Strategic Overview

            13.2.8. Azelio

                13.2.8.1. Company Description

                13.2.8.2. Business Overview

                13.2.8.3. Financial Overview

                13.2.8.4. Strategic Overview

            13.2.9. Abengoa Solar S.A.

                13.2.9.1. Company Description

                13.2.9.2. Business Overview

                13.2.9.3. Financial Overview

                13.2.9.4. Strategic Overview

            13.2.10. BrightSource Energy Inc

                13.2.10.1. Company Description

                13.2.10.2. Business Overview

                13.2.10.3. Financial Overview

                13.2.10.4. Strategic Overview

    14. Primary Research: Key Insights

    15. Appendix

    List of Tables

    Table 1: Global Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 2: Global Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 3: Global Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 4: Global Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 5: Global Thermal Energy Storage Market Volume (MWh) Forecast, by Region, 2020–2031

    Table 6: Global Thermal Energy Storage Market Value (US$ Bn) Forecast, by Region, 2020–2031

    Table 7: North America Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 8: North America Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 9: North America Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 10: North America Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 11: North America Thermal Energy Storage Market Volume (MWh) Forecast, by Country, 2020–2031

    Table 12: North America Thermal Energy Storage Market Value (US$ Bn) Forecast, by Country, 2020–2031

    Table 13: U.S. Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 14: U.S. Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 15: U.S. Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 16: U.S. Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 17: Canada Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 18: Canada Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 19: Canada Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 20: Canada Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 21: Europe Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 22: Europe Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 23: Europe Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 24: Europe Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 25: Europe Thermal Energy Storage Market Volume (MWh) Forecast, by Country and Sub-region, 2020–2031

    Table 26: Europe Thermal Energy Storage Market Value (US$ Bn) Forecast, by Country and Sub-region, 2020–2031

    Table 27: Germany Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 28: Germany Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 29: Germany Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 30: Germany Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 31: France Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 32: France Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 33: France Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 34: France Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 35: U.K. Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 36: U.K. Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 37: U.K. Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 38: U.K. Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 39: Italy Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 40: Italy Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 41: Italy Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 42: Italy Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 43: Spain Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 44: Spain Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 45: Spain Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 46: Spain Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 47: Russia & CIS Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 48: Russia & CIS Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 49: Russia & CIS Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 50: Russia & CIS Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 51: Rest of Europe Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 52: Rest of Europe Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 53: Rest of Europe Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 54: Rest of Europe Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 55: Asia Pacific Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 56: Asia Pacific Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 57: Asia Pacific Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 58: Asia Pacific Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 59: Asia Pacific Thermal Energy Storage Market Volume (MWh) Forecast, by Country and Sub-region, 2020–2031

    Table 60: Asia Pacific Thermal Energy Storage Market Value (US$ Bn) Forecast, by Country and Sub-region, 2020–2031

    Table 61: China Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 62: China Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 63: China Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 64: China Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 65: Japan Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 66: Japan Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 67: Japan Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 68: Japan Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 69: India Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 70: India Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 71: India Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 72: India Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 73: ASEAN Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 74: ASEAN Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 75: ASEAN Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 76: ASEAN Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 77: Rest of Asia Pacific Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 78: Rest of Asia Pacific Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 79: Rest of Asia Pacific Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 80: Rest of Asia Pacific Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 81: Latin America Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 82: Latin America Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 83: Latin America Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 84: Latin America Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 85: Latin America Thermal Energy Storage Market Volume (MWh) Forecast, by Country and Sub-region, 2020–2031

    Table 86: Latin America Thermal Energy Storage Market Value (US$ Bn) Forecast, by Country and Sub-region, 2020–2031

    Table 87: Brazil Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 88: Brazil Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 89: Brazil Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 90: Brazil Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 91: Mexico Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 92: Mexico Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 93: Mexico Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 94: Mexico Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 95: Rest of Latin America Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 96: Rest of Latin America Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 97: Rest of Latin America Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 98: Rest of Latin America Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 99: Middle East & Africa Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 100: Middle East & Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 101: Middle East & Africa Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 102: Middle East & Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 103: Middle East & Africa Thermal Energy Storage Market Volume (MWh) Forecast, by Country and Sub-region, 2020–2031

    Table 104: Middle East & Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by Country and Sub-region, 2020–2031

    Table 105: GCC Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 106: GCC Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 107: GCC Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 108: GCC Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 109: South Africa Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 110: South Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 111: South Africa Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 112: South Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    Table 113: Rest of Middle East & Africa Thermal Energy Storage Market Volume (MWh) Forecast, by Technology, 2020–2031

    Table 114: Rest of Middle East & Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by Technology, 2020–2031

    Table 115: Rest of Middle East & Africa Thermal Energy Storage Market Volume (MWh) Forecast, by End-user, 2020–2031

    Table 116: Rest of Middle East & Africa Thermal Energy Storage Market Value (US$ Bn) Forecast, by End-user, 2020–2031

    List of Figures

    Figure 1: Global Thermal Energy Storage Market Volume Share Analysis, by Technology, 2020, 2025, and 2031

    Figure 2: Global Thermal Energy Storage Market Attractiveness, by Technology

    Figure 3: Global Thermal Energy Storage Market Volume Share Analysis, by End-user, 2020, 2025, and 2031

    Figure 4: Global Thermal Energy Storage Market Attractiveness, by End-user

    Figure 5: Global Thermal Energy Storage Market Volume Share Analysis, by Region, 2020, 2025, and 2031

    Figure 6: Global Thermal Energy Storage Market Attractiveness, by Region

    Figure 7: North America Thermal Energy Storage Market Volume Share Analysis, by Technology, 2020, 2025, and 2031

    Figure 8: North America Thermal Energy Storage Market Attractiveness, by Technology

    Figure 9: North America Thermal Energy Storage Market Volume Share Analysis, by End-user, 2020, 2025, and 2031

    Figure 10: North America Thermal Energy Storage Market Attractiveness, by End-user

    Figure 11: North America Thermal Energy Storage Market Volume Share Analysis, by Region, 2020, 2025, and 2031

    Figure 12: North America Thermal Energy Storage Market Attractiveness, by Country

    Figure 13: Europe Thermal Energy Storage Market Volume Share Analysis, by Technology, 2020, 2025, and 2031

    Figure 14: Europe Thermal Energy Storage Market Attractiveness, by Technology

    Figure 15: Europe Thermal Energy Storage Market Volume Share Analysis, by End-user, 2020, 2025, and 2031

    Figure 16: Europe Thermal Energy Storage Market Attractiveness, by End-user

    Figure 17: Europe Thermal Energy Storage Market Volume Share Analysis, by Region, 2020, 2025, and 2031

    Figure 18: Europe Thermal Energy Storage Market Attractiveness, by Country and Sub-region

    Figure 19: Asia Pacific Thermal Energy Storage Market Volume Share Analysis, by Technology, 2020, 2025, and 2031

    Figure 20: Asia Pacific Thermal Energy Storage Market Attractiveness, by Technology

    Figure 21: Asia Pacific Thermal Energy Storage Market Volume Share Analysis, by End-user, 2020, 2025, and 2031

    Figure 22: Asia Pacific Thermal Energy Storage Market Attractiveness, by End-user

    Figure 23: Asia Pacific Thermal Energy Storage Market Volume Share Analysis, by Region, 2020, 2025, and 2031

    Figure 24: Asia Pacific Thermal Energy Storage Market Attractiveness, by Country and Sub-region

    Figure 25: Latin America Thermal Energy Storage Market Volume Share Analysis, by Technology, 2020, 2025, and 2031

    Figure 26: Latin America Thermal Energy Storage Market Attractiveness, by Technology

    Figure 27: Latin America Thermal Energy Storage Market Volume Share Analysis, by End-user, 2020, 2025, and 2031

    Figure 28: Latin America Thermal Energy Storage Market Attractiveness, by End-user

    Figure 29: Latin America Thermal Energy Storage Market Volume Share Analysis, by Region, 2020, 2025, and 2031

    Figure 30: Latin America BMI Resins Market Attractiveness, by Country and Sub-region

    Figure 31: Middle East & Africa Thermal Energy Storage Market Volume Share Analysis, by Technology, 2020, 2025, and 2031

    Figure 32: Middle East & Africa Thermal Energy Storage Market Attractiveness, by Technology

    Figure 33: Middle East & Africa Thermal Energy Storage Market Volume Share Analysis, by End-user, 2020, 2025, and 2031

    Figure 34: Middle East & Africa Thermal Energy Storage Market Attractiveness, by End-user

    Figure 35: Middle East & Africa Thermal Energy Storage Market Volume Share Analysis, by Region, 2020, 2025, and 2031

    Figure 36: Middle East & Africa Thermal Energy Storage Market Attractiveness, by Country and Sub-region

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