The thermal energy storage market is expected to grow by 2506.87 MW from 2020 to 2025. However, the growth momentum is likely to decelerate at a CAGR of 10.40% as oper the latest market report by Technavio.
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Read the 120-page report with TOC on "Thermal Energy Storage Market Analysis Report by Technology (molten salt energy storage and phase change material) and Geography (Europe, North America, APAC, MEA, and South America), and the Segment Forecasts,2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/thermal-energy-storage-market-industry-analysis
The thermal energy storage market is driven by the increasing demand for CSP. However, the factors such as competition from alternate sources of energy storage may impede the market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. The thermal energy storage market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
Some of key Thermal Energy Storage Players:
The thermal energy storage market is fragmented and the vendors are deploying growth strategies such as providing application-specific offerings to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Abengoa SA
- Acciona SA
- Araner
- BrightSource Energy Inc.
- CALMAC
- DN Tanks Inc.
- EnergyNest
- Goss Engineering
- McDermott International Ltd.
- SENER GRUPO DE INGENIERIA S.A.
The thermal energy storage market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. To make the most of the opportunities market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
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Thermal Energy Storage Market Technology Outlook (Revenue, USD MW, 2020-2025)
- Molten salt energy storage - size and forecast 2020-2025
- Phase change material - size and forecast 2020-2025
Thermal Energy Storage Market Geography Outlook (Revenue, USD MW, 2020-2025)
- Europe - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the thermal energy storage market size and actionable market insights on each segment.
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Thermal Energy Storage Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of 10.40% |
Market growth 2021-2025 |
2506.87 MW |
Market structure |
Fragmented |
YoY growth (%) |
12.97 |
Regional analysis |
Europe, North America, APAC, MEA, and South America |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, Spain, China, UK, and South Africa |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Abengoa SA, Acciona SA, Araner, BrightSource Energy Inc., CALMAC, DN Tanks Inc., EnergyNest, Goss Engineering, McDermott International Ltd., and SENER GRUPO DE INGENIERIA S.A. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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