The Thermal Energy Storage Market size was valued at USD 284.92 Million in 2023 and the total Thermal Energy Storage revenue is expected to grow at a CAGR of 14.1% from 2024 to 2030, reaching nearly USD 628.69 Million by 2030Thermal Energy Storage Market Overview:
Thermal Energy Storage (TES) serves as a technology designed to store thermal energy through the heating or cooling of a storage medium, enabling the utilization of stored energy at a later time for applications such as heating, cooling, and power generation. Widely applied in buildings and industrial processes, TES systems address the fluctuating demand for thermal energy, which constitutes a significant portion of energy consumption in these sectors. By storing and managing thermal energy, TES systems contribute to balancing the daily, weekly, and seasonal variations in energy demand and supply. The versatility of TES extends to mitigating peak demand, reducing overall energy consumption, curbing CO2 emissions, and optimizing cost efficiency, thereby enhancing the overall energy system efficiency. Importantly, TES plays a crucial role in facilitating the integration of variable renewable energy sources into the energy mix. Particularly noteworthy is its application in electricity storage, notably in conjunction with Concentrating Solar Power (CSP) plants, where solar heat can be stored during periods of sunlight abundance for subsequent electricity production during periods of reduced sunlight availability. This underscores the increasing significance of TES in supporting sustainable energy practices and advancing the role of renewables in the broader energy landscape.To know about the Research Methodology:-Request Free Sample Report The Thermal Energy Storage (TES) Market is witnessing significant growth and transformation, fueled by the increasing demand for sustainable energy solutions and the integration of renewable sources into the power grid. The current scenario reflects a growing emphasis on energy efficiency and the need for reliable storage solutions. Factors driving the market include the rising adoption of renewable energy technologies, government initiatives promoting clean energy, and the need for grid stability. TES technologies, including sensible, latent, and thermochemical storage, play a crucial role in addressing intermittent power generation from renewables by storing excess energy during periods of low demand and releasing it during peak hours. Recent developments by key market players underscore the industry's dynamism, with companies investing in innovative solutions. For instance, advancements in molten salt and phase change materials by companies like Abengoa Solar and BrightSource Energy enhance the efficiency of concentrated solar power plants. Additionally, collaborations and partnerships, such as Linde plc's involvement in advancing process analytical technologies for energy storage, signify a concerted effort to improve TES systems. As the market continues to evolve, driven by technological advancements and a growing commitment to sustainable energy practices, Thermal Energy Storage emerges as a pivotal component in achieving a resilient and eco-friendly energy landscape.
Thermal Energy Storage Market Dynamics:
Thermal Energy Storage (TES) Catalyst for Renewable Integration The global transition towards sustainable energy, aligned with the Paris Agreement, presents a significant opportunity for the Thermal Energy Storage (TES) market. As the world seeks rapid integration of renewables across various energy sectors, TES emerges as a pivotal player in achieving these ambitious goals. TES technologies offer distinct advantages, enabling the decoupling of heating and cooling demands from immediate power generation and supply availability. This flexibility enhances reliance on variable renewable sources like solar and wind power, subsequently reducing the necessity for costly grid reinforcements and facilitating the shift to a predominantly renewable-based energy system. Projections indicate a substantial growth opportunity for the global TES market, with the potential to triple in size by 2030. This translates to a remarkable increase from 234 gigawatt-hours (GWh) of installed capacity in 2019 to over 800 GWh within the next decade. Anticipated investments in TES applications for cooling and power are estimated to range between USD 13 billion and USD 28 billion over the same period. By actively supporting the transition to renewables, emphasizing efficiency, and promoting greater electrification, investments in TES become instrumental in realizing long-term climate and sustainability objectives. Specifically, molten-salt storage stands out as a commonly deployed technology in the power sector, particularly in conjunction with concentrated solar power (CSP) plants. By 2030, an estimated 491 GWh to 631 GWh of installed molten salt capacity is expected to be added. Furthermore, other TES technologies, including solid-state and liquid air variants, are poised to become commercially viable, storing surplus energy from CSP, solar photovoltaics (PV), and wind. Opportunities for the TES market extend beyond power generation into meeting cooling demands. The global TES capacity for cooling needs is projected to double by 2030, necessitating investments of approximately USD 560 million over the next decade to reach a total of USD 2.82 billion worldwide. Technologies such as phase-change material (PCM) and other TES variants play a crucial role in complementing cold chain applications, offering flexibility in cooling loads for production, storage, and transportation. In districts focused on heating and cooling, TES becomes a strategic enabler, effectively decoupling demand from supply and allowing for seasonal energy storage. From water tank TES (WTTES) already in use globally to underground TES (UTES) in smaller-scale installations, TES solutions offer versatile applications. Industrially, water tanks are gaining prominence for low-temperature heat generation and storage, particularly in conjunction with solar thermal plants. This trend is notably observed in industries such as mining, food, and textiles. Innovative technologies, including sensible, latent, and thermochemical TES, are undergoing trials to store high-grade heat, expanding the market's potential.Investments in technological development, coupled with initiatives to enhance market pull, have the potential to unlock rapid growth in TES deployment. These efforts can be integral components of a comprehensive energy policy aimed at scaling up renewables and decarbonizing energy use. Importantly, TES emerges as a crucial aspect of the energy transition investment package, offering countries a strategic tool for post-COVID recovery. Collaborative investments in TES, alongside renewables, energy efficiency, and electrification, not only fortify health and economic infrastructure but also align energy development with global climate and sustainability objectives.
Renewable Source 2015 2050 (Projection) Solar Thermal Installed Capacity 0.1 GWth 134 GWth Geothermal Heat 0.02 EJ/yr 4.11 EJ/yr Biomass Heat 8 EJ/yr 20.2 EJ/yr Heat Pumps 0.2 Million units 80 Million units Hydrogen from Renewables N/A 7 EJ/yr Breaking Silos toward Integrated Policies for Thermal Energy Storage The first significant challenge stems from the technology readiness levels (TRLs) of various TES technologies, with some lagging behind while competing technologies, such as inexpensive fossil-generated heating, boast higher TRLs. This technological disparity poses a barrier to the seamless incorporation of TES solutions into the energy landscape, hindering their immediate viability. Moreover, there exists a pervasive lack of knowledge and awareness regarding the potential benefits that TES can offer to society, the public sector, and industry. This knowledge gap has resulted in a disproportionate emphasis on Research and Development (R&D) efforts directed toward electrical battery storage. While electrical storage is crucial, thermal storage remains a critical source of flexibility necessary to accommodate high shares of renewable energy. Bridging this awareness gap is imperative to unlock the full potential of TES in fostering a sustainable and resilient energy ecosystem. Uncertainty regarding the future development of the energy system constitutes another formidable challenge. This uncertainty leads to a reluctance to invest in long-term or large-scale TES projects, as stakeholders grapple with evolving energy landscapes and changing technological paradigms. Overcoming this uncertainty requires strategic planning and policies that provide a stable and conducive environment for TES initiatives. A notable challenge is the siloed thinking prevalent across different energy vectors and sectors, where heat/cold and power are often considered in isolation. This siloed approach results in conflicting policies and inefficient planning. Additionally, there is a notable lack of policies dedicated to the decarbonization of the heat sector compared to the power sector, creating an imbalance in the focus of sustainable energy initiatives. Addressing these challenges requires a comprehensive and concerted effort from policymakers and key stakeholders. Firstly, there is a pressing need to increase the focus on decarbonization plans for industry and the provision of heat and cold. Integrating these plans into a holistic energy policy framework is essential to realize higher levels of system benefits and ensure a balanced approach to energy transition. A crucial aspect is adopting a whole-systems approach to decarbonizing energy systems. This approach entails considering all flexibility technologies across vectors to determine the most cost-effective pathway to a decarbonized energy system. By recognizing the interconnectedness of different energy components, policymakers can design effective strategies that harness the synergies between thermal storage, electrical storage, and renewable energy sources. Investing more in the R&D of TES technologies is paramount. Allocating sufficient resources to match the unique potential of TES in decarbonizing the heat, power, and cooling sectors is crucial. Funding demonstrations not only advance technology readiness levels but also build market awareness and instill consumer confidence, fostering a conducive environment for TES adoption. On a broader policy front, eliminating fossil-fuel subsidies and introducing a carbon price emerges as a potent strategy to enhance the competitiveness of low-carbon heating systems. This shift in policy frameworks can significantly alter the economic landscape, incentivizing the adoption of sustainable energy solutions. Creating market mechanisms, such as time-of-use tariffs, can further incentivize demand-side flexibility and reduce consumer bills. Establishing a market for ancillary services, where participation is technology-neutral, can overcome barriers typically associated with specific storage technologies, promoting inclusivity and innovation in the energy storage landscape.
Thermal Energy Storage Market Scope: Inquire before buying
Global Thermal Energy Storage Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US$ 284.92 Mn. Forecast Period 2024 to 2030 CAGR: 14.1% Market Size in 2030: US$ 628.69 Mn. Segments Covered: by Technology Sensible Latent TCS by Storage Material Water Molten salt Phase Change Material (PCM) by Application Power Generation District Heating & Cooling Process Heating & Cooling Thermal Energy Storage Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Thermal Energy Storage Market Key Players:
Major Contributors in the Thermal Energy Storage Market in North America: 1. BrightSource Energy, Inc. - (United States) 2. Caldwell Energy Company - (United States) 3. Cryogel - (United States) 4. DN Tanks - (United States) 5. Evapco, Inc. - (United States) 6. Fafco, Inc. - (United States) 7. Goss Engineering, Inc. - (United States) 8. Ice Energy - (United States) 9. McDermott International, Inc. - (United States) 10. SolarReserve, LLC - (United States) 11. Steffes Corporation - (United States) 12. Terrafore Technologies LLC - (United States) 13. Tesla, Inc. - (United States) Major Leading Player in the Thermal Energy Storage Market in Europe: 1. Abengoa Solar, S.A. - (Spain) 2. Linde plc - (United Kingdom) 3. Nestlé S.A. - (Switzerland) 4. SaltX Technology Holding AB - (Sweden) 5. Siemens AG - (Germany) Major Prmoninant Players in the Thermal Energy Storage Market in Asia Pacific: 1. Dunham-Bush Holding Bhd - (Malaysia) FAQ: 1] What segments are covered in the Global Thermal Energy Storage Market report? Ans. The segments covered in the Thermal Energy Storage Market report are based on Technology, Storage Material, Application, and Region. 2] Which region is expected to hold the highest share in the Global Thermal Energy Storage Market? Ans. North America region is expected to hold the highest market share in the Thermal Energy Storage market. 3] What is the market size of the Global Thermal Energy Storage Market by 2030? Ans. The market size of the Thermal Energy Storage Market by 2030 is expected to reach USD 628.69 Million. 4] What is the forecast period for the Global Thermal Energy Storage Market? Ans. The forecast period for the Thermal Energy Storage Market is 2024-2030. 5] What was the market size of the Global Thermal Energy Storage Market in 2023? Ans. The market size of the Thermal Energy Storage Market in 2023 was valued at USD 284.92 Million.
1. Thermal Energy Storage Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Thermal Energy Storage Market: Dynamics 2.1. Thermal Energy Storage Market Trends by Region 2.1.1. North America Thermal Energy Storage Market Trends 2.1.2. Europe Thermal Energy Storage Market Trends 2.1.3. Asia Pacific Thermal Energy Storage Market Trends 2.1.4. Middle East and Africa Thermal Energy Storage Market Trends 2.1.5. South America Thermal Energy Storage Market Trends 2.2. Thermal Energy Storage Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Thermal Energy Storage Market Drivers 2.2.1.2. North America Thermal Energy Storage Market Restraints 2.2.1.3. North America Thermal Energy Storage Market Opportunities 2.2.1.4. North America Thermal Energy Storage Market Challenges 2.2.2. Europe 2.2.2.1. Europe Thermal Energy Storage Market Drivers 2.2.2.2. Europe Thermal Energy Storage Market Restraints 2.2.2.3. Europe Thermal Energy Storage Market Opportunities 2.2.2.4. Europe Thermal Energy Storage Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Thermal Energy Storage Market Drivers 2.2.3.2. Asia Pacific Thermal Energy Storage Market Restraints 2.2.3.3. Asia Pacific Thermal Energy Storage Market Opportunities 2.2.3.4. Asia Pacific Thermal Energy Storage Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Thermal Energy Storage Market Drivers 2.2.4.2. Middle East and Africa Thermal Energy Storage Market Restraints 2.2.4.3. Middle East and Africa Thermal Energy Storage Market Opportunities 2.2.4.4. Middle East and Africa Thermal Energy Storage Market Challenges 2.2.5. South America 2.2.5.1. South America Thermal Energy Storage Market Drivers 2.2.5.2. South America Thermal Energy Storage Market Restraints 2.2.5.3. South America Thermal Energy Storage Market Opportunities 2.2.5.4. South America Thermal Energy Storage Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Thermal Energy Storage Industry 2.8. Analysis of Government Schemes and Initiatives For Thermal Energy Storage Industry 2.9. Thermal Energy Storage Market Trade Analysis 2.10. The Global Pandemic Impact on Thermal Energy Storage Market 3. Thermal Energy Storage Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2023-2030 3.1. Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 3.1.1. Sensible 3.1.2. Latent 3.1.3. TCS 3.2. Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 3.2.1. Water 3.2.2. Molten salt 3.2.3. Phase Change Material (PCM) 3.3. Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 3.3.1. Power Generation 3.3.2. District Heating & Cooling 3.3.3. Process Heating & Cooling 3.4. Thermal Energy Storage Market Size and Forecast, by Region (2023-2030) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Thermal Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 4.1. North America Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 4.1.1. Sensible 4.1.2. Latent 4.1.3. TCS 4.2. North America Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 4.2.1. Water 4.2.2. Molten salt 4.2.3. Phase Change Material (PCM) 4.3. North America Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 4.3.1. Power Generation 4.3.2. District Heating & Cooling 4.3.3. Process Heating & Cooling 4.4. North America Thermal Energy Storage Market Size and Forecast, by Country (2023-2030) 4.4.1. United States 4.4.1.1. United States Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 4.4.1.1.1. Sensible 4.4.1.1.2. Latent 4.4.1.1.3. TCS 4.4.1.2. United States Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 4.4.1.2.1. Water 4.4.1.2.2. Molten salt 4.4.1.2.3. Phase Change Material (PCM) 4.4.1.3. United States Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 4.4.1.3.1. Power Generation 4.4.1.3.2. District Heating & Cooling 4.4.1.3.3. Process Heating & Cooling 4.4.2. Canada 4.4.2.1. Canada Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 4.4.2.1.1. Sensible 4.4.2.1.2. Latent 4.4.2.1.3. TCS 4.4.2.2. Canada Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 4.4.2.2.1. Water 4.4.2.2.2. Molten salt 4.4.2.2.3. Phase Change Material (PCM) 4.4.2.3. Canada Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 4.4.2.3.1. Power Generation 4.4.2.3.2. District Heating & Cooling 4.4.2.3.3. Process Heating & Cooling 4.4.3. Mexico 4.4.3.1. Mexico Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 4.4.3.1.1. Sensible 4.4.3.1.2. Latent 4.4.3.1.3. TCS 4.4.3.2. Mexico Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 4.4.3.2.1. Water 4.4.3.2.2. Molten salt 4.4.3.2.3. Phase Change Material (PCM) 4.4.3.3. Mexico Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 4.4.3.3.1. Power Generation 4.4.3.3.2. District Heating & Cooling 4.4.3.3.3. Process Heating & Cooling 5. Europe Thermal Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 5.1. Europe Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.2. Europe Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.3. Europe Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4. Europe Thermal Energy Storage Market Size and Forecast, by Country (2023-2030) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.1.2. United Kingdom Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.1.3. United Kingdom Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.2. France 5.4.2.1. France Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.2.2. France Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.2.3. France Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.3. Germany 5.4.3.1. Germany Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.3.2. Germany Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.3.3. Germany Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.4. Italy 5.4.4.1. Italy Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.4.2. Italy Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.4.3. Italy Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.5. Spain 5.4.5.1. Spain Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.5.2. Spain Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.5.3. Spain Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.6. Sweden 5.4.6.1. Sweden Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.6.2. Sweden Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.6.3. Sweden Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.7. Austria 5.4.7.1. Austria Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.7.2. Austria Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.7.3. Austria Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 5.4.8.2. Rest of Europe Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 5.4.8.3. Rest of Europe Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6. Asia Pacific Thermal Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 6.1. Asia Pacific Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.2. Asia Pacific Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.3. Asia Pacific Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4. Asia Pacific Thermal Energy Storage Market Size and Forecast, by Country (2023-2030) 6.4.1. China 6.4.1.1. China Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.1.2. China Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.1.3. China Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.2. S Korea 6.4.2.1. S Korea Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.2.2. S Korea Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.2.3. S Korea Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.3. Japan 6.4.3.1. Japan Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.3.2. Japan Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.3.3. Japan Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.4. India 6.4.4.1. India Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.4.2. India Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.4.3. India Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.5. Australia 6.4.5.1. Australia Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.5.2. Australia Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.5.3. Australia Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.6. Indonesia 6.4.6.1. Indonesia Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.6.2. Indonesia Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.6.3. Indonesia Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.7. Malaysia 6.4.7.1. Malaysia Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.7.2. Malaysia Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.7.3. Malaysia Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.8. Vietnam 6.4.8.1. Vietnam Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.8.2. Vietnam Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.8.3. Vietnam Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.9. Taiwan 6.4.9.1. Taiwan Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.9.2. Taiwan Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.9.3. Taiwan Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 6.4.10.2. Rest of Asia Pacific Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 6.4.10.3. Rest of Asia Pacific Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 7. Middle East and Africa Thermal Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 7.1. Middle East and Africa Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 7.2. Middle East and Africa Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 7.3. Middle East and Africa Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 7.4. Middle East and Africa Thermal Energy Storage Market Size and Forecast, by Country (2023-2030) 7.4.1. South Africa 7.4.1.1. South Africa Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 7.4.1.2. South Africa Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 7.4.1.3. South Africa Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 7.4.2. GCC 7.4.2.1. GCC Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 7.4.2.2. GCC Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 7.4.2.3. GCC Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 7.4.3. Nigeria 7.4.3.1. Nigeria Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 7.4.3.2. Nigeria Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 7.4.3.3. Nigeria Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 7.4.4.2. Rest of ME&A Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 7.4.4.3. Rest of ME&A Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 8. South America Thermal Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 8.1. South America Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 8.2. South America Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 8.3. South America Thermal Energy Storage Market Size and Forecast, by Application(2023-2030) 8.4. South America Thermal Energy Storage Market Size and Forecast, by Country (2023-2030) 8.4.1. Brazil 8.4.1.1. Brazil Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 8.4.1.2. Brazil Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 8.4.1.3. Brazil Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 8.4.2. Argentina 8.4.2.1. Argentina Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 8.4.2.2. Argentina Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 8.4.2.3. Argentina Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Thermal Energy Storage Market Size and Forecast, by Technology (2023-2030) 8.4.3.2. Rest Of South America Thermal Energy Storage Market Size and Forecast, by Storage Material (2023-2030) 8.4.3.3. Rest Of South America Thermal Energy Storage Market Size and Forecast, by Application (2023-2030) 9. Global Thermal Energy Storage Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Thermal Energy Storage Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. BrightSource Energy, Inc. - (United States) 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Caldwell Energy Company - (United States) 10.3. Cryogel - (United States) 10.4. DN Tanks - (United States) 10.5. Evapco, Inc. - (United States) 10.6. Fafco, Inc. - (United States) 10.7. Goss Engineering, Inc. - (United States) 10.8. Ice Energy - (United States) 10.9. McDermott International, Inc. - (United States) 10.10. SolarReserve, LLC - (United States) 10.11. Steffes Corporation - (United States) 10.12. Terrafore Technologies LLC - (United States) 10.13. Tesla, Inc. - (United States) 10.14. Abengoa Solar, S.A. - (Spain) 10.15. Linde plc - (United Kingdom) 10.16. Nestlé S.A. - (Switzerland) 10.17. SaltX Technology Holding AB - (Sweden) 10.18. Siemens AG - (Germany) 10.19. Dunham-Bush Holding Bhd - (Malaysia) 11. Key Findings 12. Industry Recommendations 13. Thermal Energy Storage Market: Research Methodology 14. Terms and Glossary