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Published Date: 2015-01-21Number of Pages: 122

Thermal Energy Storage Market by Technology (Sensible Heat, Latent Heat, and Thermochemical) for Commercial and Industrial, Utilities, and Residential End Use Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020

The need for a sustained energy solution for daily needs has fueled demand for thermal energy storage (TES) systems globally. Thermal energy storage systems stock up energy for later use, employing water, ice-slush tanks, rock from the bedrock layer, aquifers, insulated lined pits and eutectic, phase-changing materials (PCMs). Demand for energy can be managed effectively through the usage of TES systems. These systems store solar energy for space heating in the winter and store cold winter air for air conditioning purposes in summer. TES solutions can be implemented in buildings, towns and districts. Sources for TES include heat pumps, peak shaving, heat generated by power plants and heat from waste. TES systems are capable of replacing nearly 50% of the conventionally sourced energy in any industry. These systems also optimize the overall efficiency of energy systems, thus balancing fluctuating demand in the process. TES systems reduce demand for energy during peak hours, lower carbon dioxide emissions and bring down energy consumption by end-consumers.

 

This research study is designed to analyze the global market for thermal energy storage both in terms of capacity installation (MW) and revenue (USD Million). The market for thermal energy storage has been segmented based on technology and end-use. The market has also been segmented on a regional level. Regional segments included in this study are North America, Europe, Asia Pacific, and Rest of the World (RoW). The research provides an in-depth analysis of the total demand for thermal energy storage technologies and market revenue of the global thermal energy storage market. The report features a detailed regional segmentation along with growth forecast for the period from 2014 to 2020. Projections have been provided for both technology and end-use segments under each region. The market study on thermal energy storage technologies also provides historical data, detailed analysis, and statistically refined forecast for technology, end-use applications, and regional segments. 

 

The size of the thermal energy storage market has been estimated based on indicators in technology, end-use application, and regional segments. The report includes the key market dynamics affecting demand for thermal energy storage technologies globally. In order to study the market dynamics, we have analyzed market drivers, market restraints, and market opportunities. A comprehensive competitive landscape, which includes company market share analysis and market attractiveness analysis, has also been provided in this report. The report also provides detailed industry analysis of the global thermal energy storage market with the help of Porter’s Five Forces model. This model helps understand the five major forces that affect the industry structure and profitability in the global thermal energy storage market. Bargaining power of buyers, bargaining power of suppliers, threat from new entrants, threat from substitutes, and degree of competition are the forces analyzed through the model.

 

The study also includes the value chain of the global thermal energy storage market, which provides a glimpse of the upstream, midstream, and downstream players involved in the business as well as their interaction with end-users of technologies. Market share analysis has been conducted considering the thermal energy storage system/capacity installed and the upcoming thermal energy storage projects. The attractiveness analysis involves benchmarking and ranking each technology and region on the basis of numerous parameters. The parameters selected are likely to significantly affect demand for each technology in the current scenario as well as in the near future. 

 

The technology segment analysis has been carried out on the global and regional level. The overall thermal energy storage market has been bifurcated into sensible heat, latent heat, and thermochemical storage technology segments. Primary end-user applications of thermal energy storage systems identified in this market study include commercial and industrial, utilities, and residential applications.

 

Key participants in the global thermal energy storage market include CALMAC, EVAPCO, Inc., Chicago Bridge & Iron Company (CB&I), and Goss Engineering, Inc. Other market players that have been profiled in this report include Abengoa Solar, S.A., Baltimore Aircoil Company, Burns & McDonnell, Caldwell Energy, FAFCO Thermal Storage Systems, and TAS Energy. This report provides an overview of these companies, followed by their financial revenue, business strategies, and recent developments.

  • Global Thermal Energy Storage Market: Technology Segment

    • Sensible Heat
    • Latent Heat
    • Thermochemical Heat
  • Global Thermal Energy Storage Market: End Use Segment

    • Commercial and Industrial
    • Utilities
    • Residential
  • Global Thermal Energy Storage Market: Regional Analysis

    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)

 

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

              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

 

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

      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

      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.

      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

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

      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

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)

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)

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)

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)

Increasing greenhouse gas emissions and rising fuel prices across the globe are the primary reasons behind the efforts to effectively employ systems that aid in generating energy through renewable sources. Demand for thermal energy storage technologies is likely to rise due to depleting energy resources coupled with continuous rise in energy consumption. Thermal energy technologies help reduce consumption of energy and increase energy supply by efficiently utilizing renewable energy sources. However, most renewable energy sources (solar and wind) are intermittent in nature, i.e., they are not available throughout the day. In this context, thermal energy storage (TES) technology turns out to be one of the better solutions that have been accepted globally. For over a decade, TES technologies have been deployed to store energy. These technologies are also used to shift peak energy use into off-peak hours.

 

For this market study, thermal energy storage technologies have been bifurcated into sensible heat, latent heat, and thermochemical storage segments. Under sensible heat storage technologies, the energy is stored by raising the temperature of storage medium (water or rock). These technologies are increasingly being employed in commercial and industrial end-use applications. Sensible heat storage is expected to dominate the global thermal energy storage market during the forecast period. The market share of sensible heat storage technology is anticipated to decrease marginally, 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 has been bifurcated based on end-use into commercial and industrial, utilities, and residential segments. Commercial and industrial segment accounted for majority of the market share in 2013 and is estimated to dominate the market during the forecast period. Commercial enterprises are switching to solar energy storage systems, led by increasing demand for backup power supplies coupled with rising energy prices. This has led to significant growth in the commercial and industrial segment of the global thermal energy storage market. Lack of availability of products was the most significant factor that was limiting the growth of the commercial and industrial segment until 2010.

 

Recent developments in thermal energy storage technologies are estimated play a key role in the growth of the segment in the near future. The future growth of this technology is primarily dependent on regulatory structures and framework. Ice-storage systems are primarily used in the commercial and industrial segment for the storage of thermal energy. Commercial buildings constitute a large portion of energy consumption. Thermal energy storage systems enable commercial building owners and managers to manage operating expenses. Need for energy efficient future, growth in smart grid technologies, and rise in installation of renewable energy sources are compelling building owners and managers to install thermal energy storage systems. 

 

In terms of geographies, the global thermal energy storage market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe dominates the overall thermal energy storage market among all the regions. This trend is expected to continue during the forecast period. The region is likely to add about 1,307.0 MW of thermal energy storage capacity between 2013 and 2020. Countries that have not invested in the thermal energy storage market, or have just begun to, may fuel additional growth in the near future.

 

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.

 

 


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