Transparency Market
Research
Thermal Energy Storage Market by Technology for Commercial and Industrial,
Utilities, and Residential End Use Applications - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2014 - 2020
Published Date
2015-01-21
122 Page Report
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Press Release
Thermal Energy Storage Capacity Installation is Estimated to
Reach 6,070.2 MW by 2020
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Thermal Energy Storage Market
REPORT DESCRIPTION
Transparency Market Research has released a new market research report. According to the report, the
global thermal energy storage installed capacity stood at 2,038.3 MW in 2013 and is anticipated to reach
6,070.2 MW by 2020, expanding at a CAGR of 17.1% from 2014 to 2020. In terms of revenue, the global
thermal energy storage market was valued at USD 627.6 million in 2013 and is projected to reach USD
1,818.8 million by 2020, expanding at a CAGR of 16.7% between 2014 and 2020.
Global demand for energy is increasing due to rising population. Improved standard of living also acts as a
catalyst for demand for energy. Demand for primary energy is likely to increase at a rate of 1.6% p.a. from
2011 to 2030. Furthermore, energy-related environmental concerns such as stratospheric ozone depletion,
increasing amount of carbon in the atmosphere, and acid precipitation are projected to rise in the near
future. End-users are shifting to renewable energy sources due to the rise in energy costs and growing
importance of environmental protection. Renewable energy sources, particularly solar and wind, are
gaining importance as means to achieve higher efficient and environment-friendly energy.
Browse the full Thermal Energy Storage Market report at
http://www.transparencymarketresearch.com/thermal-energy-storage-market.html
Renewable energy sources are time dependent in nature, i.e., they are not available throughout the day.
Hence, it is difficult to utilize these sources to their full capacities. The time dependent and intermittent
nature of renewable energy sources increases the need for energy storage devices. These devices are
required to store energy during the availability hours and supply energy during the non-availability hours
of renewable energy sources. Thermal energy storage is defined as the temporary holding of thermal
energy for later usage.
Sensible heat storage is expected to dominate the global thermal energy storage market during the
forecast period. However, the market share of this technology is anticipated to decrease owing to their low
storage capacity per volume of the storage medium and advancements in technologies such as latent heat
and thermochemical storage. Latent heat and thermochemical storage technologies are being used
increasingly across the globe, primarily due to their ability to provide high-energy storage density. The
market for thermal energy storage based on the end-use application has been bifurcated into commercial
and industrial, utilities, and residential segments. Commercial and industrial accounted for majority of the
market share in 2013. Rising demand for backup power supplies coupled with increasing energy prices is
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Thermal Energy Storage Market
driving growth in this segment. The future of the thermal energy storage technology is dependent on
regulatory framework and structures.
Browse the full Thermal Energy Storage Market Press Release at
http://www.transparencymarketresearch.com/pressrelease/thermal-energy-storagemarket.htm
Europe accounted for the largest market share in terms of thermal energy storage capacity installations in
2013. The European Union’s strong emphasis on energy efficiency and growing share of renewable energy
generation has resulted in significant increase in the total thermal storage installed capacity in the region.
Europe is likely to add nearly 1,307.0 MW of capacities by 2020. Higher investments in solar thermal
energy would drive growth in the region. North America is a relatively mature market and is likely to
exhibit moderate to high growth during the forecast period. Increasing need for energy efficient and
sustainable future is estimated to boost the thermal energy storage market in Asia Pacific. Countries in the
Middle East and Africa have set aggressive targets to expand the share of renewable energy sources in the
overall power generation portfolio. This is likely to play a key role in the growth of the thermal energy
storage market in RoW.
Key players in the market include CALMAC, EVAPCO, Inc., Chicago Bridge & Iron Company (CB&I), and Goss
Engineering, Inc. The report also profiles market players such as Abengoa Solar, S.A., Baltimore Aircoil
Company, BrightSource Energy, Inc., Burns & McDonnell, Caldwell Energy, FAFCO Thermal Storage
Systems, Ice Lings, Steffes Corporation, and TAS Energy. The research study has been segmented as
below:
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
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Thermal Energy Storage Market
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
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
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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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Chapter 5 Global Thermal Energy Storage Market – Technology Segment Analysis
5.1 Global Thermal Energy Storage Market: Technology Segment Overview
5.1.1 Global Thermal Energy Storage Capacity Installation Estimates and Forecast, by Technology Segment, 2013 &
2020, (MW)
5.2 Sensible Heat
5.2.1 Global Sensible Heat Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 & 2020, (MW)
5.2.2 Global Sensible Heat Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, 2013 – 2020, (MW) (USD Million)
5.2.3 Global Sensible Heat Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, by Regional Segment, 2013 – 2020, (MW) (USD Million)
5.3 Latent Heat
5.3.1 Global Latent Heat Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 & 2020, (MW)
5.3.2 Global Latent Heat Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
2013 – 2020, (MW) (USD Million)
5.3.3 Global Latent Heat Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
by Regional Segment, 2013 – 2020, (MW) (USD Million)
5.4 Thermochemical
5.4.1 Global Thermochemical Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 & 2020, (MW)
5.4.2 Global Thermochemical Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, 2013 – 2020, (MW) (USD Million)
5.4.3 Global Thermochemical Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, by Regional Segment, 2013 – 2020, (MW) (USD Million)
Chapter 6 Global Thermal Energy Storage Market – End Use Segment Analysis
6.1 Global Thermal Energy Storage Market: End Use Segment Overview
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6.1.1 Global Thermal Energy Storage Capacity Installation Estimates and Forecast, by End Use Segment, 2013 &
2020, (MW)
6.2 Commercial and Industrial
6.2.1 Global Commercial and Industrial Thermal Energy Storage Capacity Installation Estimates and Forecast, by
Regional Segment, 2013 & 2020, (MW)
6.2.2 Global Commercial and Industrial Thermal Energy Storage Capacity Installation and Market Revenue Estimates
and Forecast, 2013 – 2020, (MW) (USD Million)
6.2.3 Global Commercial and Industrial Thermal Energy Storage Capacity Installation and Market Revenue Estimates
and Forecast, by Regional Segment, 2013 – 2020, (MW) (USD Million)
6.3 Utilities
6.3.1 Global Utilities Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional Segment,
2013 & 2020, (MW)
6.3.2 Global Utilities Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
2013 – 2020, (MW) (USD Million)
6.3.3 Global Utilities Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by
Regional Segment, 2013 – 2020, (MW) (USD Million)
6.4 Residential
6.4.1 Global Residential Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional Segment,
2013 & 2020, (MW)
6.4.2 Global Residential Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
2013 – 2020, (MW) (USD Million)
6.4.3 Global Residential Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
by Regional Segment, 2013 – 2020, (MW) (USD Million)
Chapter 7 Global Thermal Energy Storage Market – Regional Analysis
7.1 Global Thermal Energy Storage Market: Regional Overview
7.1.1 Global Thermal Energy Storage Capacity Installation Estimates and Forecast, by Region, 2013 & 2020, (MW)
7.2 North America
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7.2.1 North America Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013
– 2020, (MW) (USD Million)
7.2.2 North America Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by
Technology Segment, 2013 – 2020, (MW) (USD Million)
7.2.3 North America Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by
End Use Segment, 2013 – 2020 (MW) (USD Million)
7.3 Europe
7.3.1 Europe Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013 –
2020, (MW) (USD Million)
7.3.2 Europe Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by
Technology Segment, 2013 – 2020, (MW) (USD Million)
7.3.3 Europe Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by End Use
Segment, 2013 – 2020, (MW) (USD Million)
7.4 Asia Pacific
7.4.1 Asia Pacific Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013 –
2020, (MW) (USD Million)
7.4.2 Asia Pacific Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by
Technology Segment, 2013 – 2020, (MW) (USD Million)
7.4.3 Asia Pacific Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, by End
Use Segment, 2013 – 2020, (MW) (USD Million)
7.5 Rest of the World (RoW)
7.5.1 Rest of the World (RoW) Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, 2013 – 2020, (MW) (USD Million)
7.5.2 Rest of the World (RoW) Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, by Technology Segment, 2013 – 2020, (MW) (USD Million)
7.5.3 Rest of the World (RoW) Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, by End Use Segment, 2013 – 2020, (MW) (USD Million)
Chapter 8 Company Profiles
8.1 Abengoa Solar, S.A.
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8.1.1 Company Overview
8.1.2 Financial Overview
8.1.3 Business Strategy
8.1.4 Recent Developments
8.2 Baltimore Aircoil Company
8.2.1 Company Overview
8.2.2 Financial Overview
8.2.3 Business Strategy
8.2.4 Recent Developments
8.3 BrightSource Energy, Inc.
8.3.1 Company Overview
8.3.2 Financial Overview
8.3.3 Business Strategy
8.3.4 Recent Developments
8.4 Burns & McDonnell
8.4.1 Company Overview
8.4.2 Financial Overview
8.4.3 Business Strategy
8.4.4 Recent Developments
8.5 Caldwell Energy
8.5.1 Company Overview
8.5.2 Financial Overview
8.5.3 Business Strategy
8.5.4 Recent Developments
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8.6 CALMAC
8.6.1 Company Overview
8.6.2 Financial Overview
8.6.3 Business Strategy
8.6.4 Recent Developments
8.7 Chicago Bridge & Iron Company (CB&I)
8.7.1 Company Overview
8.7.2 Financial Overview
8.7.3 Business Strategy
8.7.4 Recent Developments
8.8 EVAPCO, Inc.
8.8.1 Company Overview
8.8.2 Financial Overview
8.8.3 Business Strategy
8.8.4 Recent Developments
8.9 FAFCO Thermal Storage Systems
8.9.1 Company Overview
8.9.2 Financial Overview
8.9.3 Business Strategy
8.9.4 Recent Development
8.10 Goss Engineering, Inc.
8.10.1 Company Overview
8.10.2 Financial Overview
8.10.3 Business Strategy
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8.10.4 Recent Developments
8.11 Ice Lings
8.11.1 Company Overview
8.11.2 Financial Overview
8.11.3 Business Strategy
8.11.4 Recent Developments
8.12 Steffes Corporation
8.12.1 Company Overview
8.12.2 Financial Overview
8.12.3 Business Strategy
8.12.4 Recent Development
8.13 TAS Energy
8.13.1 Company Overview
8.13.2 Financial Overview
8.13.3 Business Strategy
8.13.4 Recent Developments
List of Figures
FIG. 1 Global Thermal Energy Storage Market: Market Segmentation
FIG. 2 Global Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013 – 2020
(MW) (USD Million)
FIG. 3 Value Chain Analysis: Global Thermal Energy Storage Market
FIG. 4 Global Net Electricity Generation by Fuel, 2013–2020, (Trillion kWh)
FIG. 5 Global Thermal Energy Storage Market: Porter’s Five Forces Analysis
FIG. 6 Market Attractiveness Analysis of Global Thermal Energy Storage Market, by Technology Segment, 2013
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FIG. 7 Market Attractiveness Analysis of Global Thermal Energy Storage Market, by Regional Segment, 2013
FIG. 8 Company Market Share of Global Thermal Energy Storage Market, 2013
FIG. 9 Global Thermal Energy Storage Capacity Installation Estimates and Forecast, by Technology Segment, 2013 &
2020, (MW)
FIG. 10 Global Sensible Heat Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 & 2020, (MW)
FIG. 11 Global Sensible Heat Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
2013 – 2020, (MW) (USD Million)
FIG. 12 Global Latent Heat Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional Segment,
2013 & 2020, (MW)
FIG. 13 Global Latent Heat Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
2013 – 2020, (MW) (USD Million)
FIG. 14 Global Thermochemical Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 & 2020, (MW)
FIG. 15 Global Thermochemical Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, 2013 – 2020, (MW) (USD Million)
FIG. 16 Global Thermal Energy Storage Capacity Installation Estimates and Forecast, by End Use Segment, 2013 &
2020, (MW)
FIG. 17 Global Commercial and Industrial Thermal Energy Storage Capacity Installation Estimates and Forecast, by
Regional Segment, 2013 & 2020, (MW)
FIG. 18 Global Commercial and Industrial Thermal Energy Storage Capacity Installation and Market Revenue Estimates
and Forecast, 2013 – 2020, (MW) (USD Million)
FIG. 19 Global Utilities Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional Segment,
2013 & 2020, (MW)
FIG. 20 Global Utilities Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013
– 2020, (MW) (USD Million)
FIG. 21 Global Residential Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional Segment,
2013 & 2020, (MW)
FIG. 22 Global Residential Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast,
2013 – 2020, (MW) (USD Million)
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FIG. 23 Global Thermal Energy Storage Capacity Installation Estimates and Forecast, by Region, 2013 & 2020, (MW)
FIG. 24 North America Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013
– 2020, (MW) (USD Million)
FIG. 25 Europe Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013 – 2020,
(MW) (USD Million)
FIG. 26 Asia Pacific Thermal Energy Storage Capacity Installation and Market Revenue Estimates and Forecast, 2013 –
2020, (MW) (USD Million)
FIG. 27 Rest of the World (RoW) Thermal Energy Storage Capacity Installation and Market Revenue Estimates and
Forecast, 2013 – 2020, (MW) (USD Million)
List of Tables
TABLE 1 Global Thermal Energy Storage Market Snapshot
TABLE 2 Market Drivers of Global Thermal Energy Storage Market: Impact Analysis
TABLE 3 Market Restraints of Global Thermal Energy Storage Market: Impact Analysis
TABLE 4 Market Opportunity of Global Thermal Energy Storage Market: Impact Analysis
TABLE 5 List of Thermal Energy Storage Projects by Technology, by Country, 2013
TABLE 6 List of Thermal Energy Storage Projects by Installation Type, by Country, by 2013
TABLE 7 Global Sensible Heat Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 – 2020, (MW)
TABLE 8 Global Sensible Heat Thermal Energy Storage Market Revenue Estimates and Forecast, by Regional Segment,
2013 – 2020, (USD Million)
TABLE 9 Global Latent Heat Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 – 2020, (MW)
TABLE 10 Global Latent Heat Thermal Energy Storage Market Revenue Estimates and Forecast, by Regional Segment,
2013 – 2020, (USD Million)
TABLE 11 Global Thermochemical Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 – 2020, (MW)
TABLE 12 Global Thermochemical Thermal Energy Storage Market Revenue Estimates and Forecast, by Regional
Segment, 2013 – 2020, (USD Million)
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TABLE 13 Global Commercial and Industrial Thermal Energy Storage Capacity Installation Estimates and Forecast, by
Regional Segment, 2013 – 2020, (MW)
TABLE 14 Global Commercial and Industrial Thermal Energy Storage Market Revenue Estimates and Forecast, by
Regional Segment, 2013 – 2020, (USD Million)
TABLE 15 Global Utilities Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional Segment,
2013 – 2020, (MW)
TABLE 16 Global Utilities Thermal Energy Storage Market Revenue Estimates and Forecast, by Regional Segment, 2013
– 2020, (USD Million)
TABLE 17 Global Residential Thermal Energy Storage Capacity Installation Estimates and Forecast, by Regional
Segment, 2013 – 2020, (MW)
TABLE 18 Global Residential Thermal Energy Storage Market Revenue Estimates and Forecast, by Regional Segment,
2013 – 2020, (USD Million)
TABLE 19 North America Thermal Energy Storage Capacity Installation Estimates and Forecast, by Technology Segment,
2013 – 2020, (MW)
TABLE 20 North America Thermal Energy Storage Market Revenue Estimates and Forecast, by Technology Segment,
2013 – 2020, (USD Million)
TABLE 21 North America Thermal Energy Storage Capacity Installation Estimates and Forecast, by End Use Segment,
2013 – 2020, (MW)
TABLE 22 North America Thermal Energy Storage Market Revenue Estimates and Forecast, by End Use Segment, 2013
– 2020, (USD Million)
TABLE 23 Europe Thermal Energy Storage Capacity Installation Estimates and Forecast, by Technology Segment, 2013 –
2020, (MW)
TABLE 24 Europe Thermal Energy Storage Market Revenue Estimates and Forecast, by Technology Segment, 2013 –
2020, (USD Million)
TABLE 25 Europe Thermal Energy Storage Capacity Installation Estimates and Forecast, by End Use Segment, 2013 –
2020, (MW)
TABLE 26 Europe Thermal Energy Storage Market Revenue Estimates and Forecast, by End Use Segment, 2013 – 2020,
(USD Million)
TABLE 27 Asia Pacific Thermal Energy Storage Capacity Installation Estimates and Forecast, by Technology Segment,
2013 – 2020, (MW)
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TABLE 28 Asia Pacific Thermal Energy Storage Market Revenue Estimates and Forecast, by Technology Segment, 2013
– 2020, (USD Million)
TABLE 29 Asia Pacific Thermal Energy Storage Capacity Installation Estimates and Forecast, by End Use Segment, 2013
– 2020, (MW)
TABLE 30 Asia Pacific Thermal Energy Storage Market Revenue Estimates and Forecast, by End Use Segment, 2013 –
2020, (USD Million)
TABLE 31 Rest of the World (RoW) Thermal Energy Storage Capacity Installation Estimates and Forecast, by Technology
Segment, 2013 – 2020, (MW)
TABLE 32 Rest of the World (RoW) Thermal Energy Storage Market Revenue Estimates and Forecast, by Technology
Segment, 2013 – 2020, (USD Million)
TABLE 33 Rest of the World (RoW) Thermal Energy Storage Capacity Installation Estimates and Forecast, by End Use
Segment, 2013 – 2020, (MW)
TABLE 34 Rest of the World (RoW) Thermal Energy Storage Market Revenue Estimates and Forecast, by End Use
Segment, 2013 – 2020, (USD Million)
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According to the U.S. Energy Information Administration (EIA), about 21% of all electricity generated across the world in 2011 was from renewable sources. The EIA reckons that this will rise to 25% by 2040. The increasing stress on scaling up the share of renewable energy in the power sector is also, in turn, resulting in a greater demand for efficiently storing that energy. This has turned the focus on alternative energy storage systems such as thermal energy storage, which adds a dash of reliability to the otherwise unpredictable supply of renewable energy sources such as wind and solar power. Complete Report Thermal Energy Storage Market with TOC : http://www.transparencymarketresearch.com/thermal-energy-storage-market.html Thermal energy storage technology has been in use since a decade now, but is now garnering more interest as it effectively helps shift the load from peak to off-peak hours. While growth has been steady in the market since the last few years, it is expected to gather pace in the next four years, says a report by Transparency Market Research. According to a report published by the market research firm, the global thermal energy storage market would have reached a valuation on US$1.8 bn by 2020. This is a massive leap from the market’s valuation of US$0.6 bn in 2013. The report further notes that the thermal energy storage market will have a compounded annual growth rate (CAGR) of 16.70% from 2014 through 2020.

Thermal Energy Storage Market Share 2014 - 2020