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The global Thermal Energy Storage (TES) market along with the rest of energy industry value chain is expected to be impacted by the ongoing pandemic and the virus led global recession. The global market size is revised at a projected US$8 billion for the year 2027. Government measures to curtail movement of people and good sand the worst ever economic downturn will together bring down the energy industry in the year 2020. Lockdowns are bringing electricity consumption in malls, hotels, gyms, schools, shops to almost zero. Utilities are staring at a severe cash crunch as revenues sharply decline and spot prices of electricity plummet. Energy storage deployments worldwide will decline steeply from earlier projections for the year 2020. As finances dry-up for consumers and businesses alike, sales of energy storage systems for homes, building and industrial processes will decline.

Given that uninterrupted power supply is the backbone of economic development, interest in thermal energy storage solutions will bounce back when the economic climate clears. In the post COVID-19 period, demand for efficient, reliable, and economical energy storage technologies; and continued shift towards renewable energy sources and the resulting need to efficiently harness, store and utilize wind and solar energy will remerge to spur growth. Few of the benefits of TES technology include high efficiency with the ability to recover over 98% of stored energy; can be discharged over both short and long durations; operational and cost benefits; enables effective peak load balancing and encourages electricity generation during non-peak hours. Few of the trends which underlined growth in the pre-corona virus period included increased integration of renewable in utilities, the resulting loss of base load energy generation and the ensuing importance of energy storage technologies in enabling grid stability; popularity and dominance of sensible heat storage technology given its low cost and simplicity in design and architecture; rise in the number of concentrated solar power projects and increased demand for sensible heat storage technology; growing number of wind farms and higher use of TES systems for efficient harnessing, storage and utilization of wind energy; rising prominence of phase change materials-based systems over molten salt-based thermal storage. Although currently in hiatus, these trends will resurface to drive market gains in the long-term period.

The urgent need to make the energy infrastructure more efficient and less polluting will continue to rank as the primary driver of growth in developed markets. Several countries in Europe will also continue to place increased emphasis on energy efficiency initiatives which will require active integration of renewable energy into the main power grid thus spurring the need for thermal energy storage solutions. Asia-Pacific including China is a major market and in a business as usual post COVID-19 scenario, growth in the region will beled by factors such as growing economies; increased investments in energy infrastructure development and upgrade; continuous rise in electricity demand; growing problem of and high economic cost of unreliable power supply; abundant availability of renewable energy and concerted government efforts to use renewable to meet energy needs in a safe and reliable way.

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TABLE OF CONTENTS


   Pages :    | $

   Study Reliability and Reporting Limitations.....I-1  
   Disclaimers.....I-2
Data Interpretation & Reporting Level.....I-2
  
   Product Definitions and Scope of Study.....I-3  
   Thermal Energy Storage (TES): Efficient and Economical Capture of Energy during Lean
  Period for Fueling Cooling Needs of the Peak Period.....II-1
2$200
   Superior Attributes and Multiple Benefits of Thermal Energy Storage Technology Drive
  Widespread Market Adoption.....II-3
Thermal Energy Storage Stay Relevant Despite Rising Popularity of Battery
  Storage.....II-3
2$200
   Major Benefits of Thermal Storage.....II-51$100
   Cost-Effective.....II-61$100
   Energy Efficient.....II-7
Ancillary Benefits.....II-7
Grid Benefits.....II-7
1$100
   Benefits to Service Providers.....II-8
Social and Environmental Benefits.....II-8
Expanding Share of Intermittent Renewable Energy Sources and the Resulting Need for
  Energy Storage: The Fundamental Growth Driver.....II-8
3$300
   Table 1: Global Energy Production by Energy Source (2017, 2020, 2030 and 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables (includes corresponding Graph/Chart).....II-111$350
   Table 2: Targets for Electricity Production from Renewable Energy Sources Worldwide by Country.....II-122$350
   Booming Renewable Energy Sector Benefits Penetration of Energy Storage
  Technologies.....II-14
Major Growth Driving Factors for Energy Storage.....II-14
1$100
   Energy Storage Technologies: Classification.....II-15
Key Energy Storage Technologies & Applications for Electrical, Chemical,
  Electrochemical, Mechanical and Thermal Energy.....II-15
1$100
   Thermal Energy Storage Vital for Development Efficient, Disruption-Resistant
  Grids.....II-16
Global Market Outlook.....II-16
4$400
   Developing Regions of the World Offers Huge Untapped Market Growth Potential for
  TES.....II-20
1$100
   Asia-Pacific.....II-211$100
   Eastern Europe and Central Asia.....II-221$100
   Latin America and Caribbean.....II-231$100
   Sub-Saharan Africa.....II-241$100
   Middle East and North Africa (MENA).....II-251$100
   Growing Investments in Renewable Energy Projects Drive Strong Demand for Thermal Energy
  Storage Solutions.....II-26
3$300
   Table 3: Renewable Investments and Deployed Capacity Worldwide (2015 & 2017): Investments (US$ Billion) and Breakdown of Deployed Capacity (GW) for Solar, Wind, Hydropower, and Biomass (includes corresponding Graph/Chart).....II-29

Table 4: Global Number of Grid Connected Energy Storage Projects by Region/Country: 2017 (includes corresponding Graph/Chart).....II-29
1$350
   Table 5: Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2018 (includes corresponding Graph/Chart).....II-30

Table 6: Global Grid Connected Energy Storage by Technology: Percentage Breakdown of Installed Capacity for 2014, 2017 and 2020 (includes corresponding Graph/Chart).....II-30
1$350
   Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits
  Market Expansion.....II-31
1$100
   TES at Grid and Distributed Energy Levels.....II-32 1$100
   Table 7: Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040 (includes corresponding Graph/Chart).....II-331$350
   TES Systems’ Efficiency in Managing Inconsistencies of Wind and Solar Power Generation
  Spurs Market Demand.....II-34
1$100
   Table 8: Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030 (includes corresponding Graph/Chart).....II-351$350
   Table 9: Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022 (includes corresponding Graph/Chart).....II-36
Thermal Energy Storage Pairing with Solar Generation: Opportunities Galore for
  Electric Utilities.....II-36
1$350
   Important Role of TES Systems in Commercialization of Solar Thermal Energy
  Plants.....II-37
1$100
   Despite Competition from Latent Heat Storage, Sensible Heat Technology Sustains
  Dominance.....II-38
2$200
   Table 10: Various Thermal Storage Technologies: Brief Details of Efficiency, Storage Time, Power and Capacity.....II-401$350
   Growing Trend towards Green/LEED Buildings Offer Lucrative Market Growth
  Opportunities.....II-41
1$100
   TES Techniques Offer Increased Efficiency in Buildings.....II-421$100
   Phase Change Materials-Based Systems Gain Prominence over Molten Salt-Based Thermal
  Storage.....II-43
1$100
   Demand for TES in Residential-Commercial HVAC and Commercial Refrigeration Systems on
  the Rise.....II-44
TES’ Energy Efficiency Augments its Application.....II-44
1$100
   TES Set to Address Peak Demand for Air Conditioning.....II-451$100
   Utility Load Factors.....II-46
Stable and Secure Grid.....II-46
Impact of Climate Change on Air Conditioning.....II-46
1$100
   Developments in Controls.....II-47
Thermal Energy Storage Offers Cost and Energy Savings to the Cold Storage
  Sector.....II-47
1$100
   Evolving IoT Standard and Upcoming Smart Cities to Fuel Large-Scale Adoption.....II-48 1$100
   Table 11: Number of Smart Cities Worldwide (2013-2020) (includes corresponding Graph/Chart).....II-491$350
   Table 12: Number of Smart Cities Worldwide by Geographic Region (2025) (includes corresponding Graph/Chart).....II-50
Thermal Energy Storage Generate Substantial Savings for Educational Institutes.....II-50
1$350
   Rising Deployments of Smart Grids Augurs Well for TES Market Growth.....II-51 1$350
   Table 13: Global Spend on Smart Grid Technologies by Region (2014, 2017 & 2020): Cumulative Spending (in US$ Billion) for Asia-Pacific (incl. China), Europe, Latin America, and North America (includes corresponding Graph/Chart).....II-52
Favorable Demographic and Urbanization Trends Aid Market Growth.....II-52
1$350
   Table 14: Global Population Estimates (in Billion): 2000, 2010, 2017E, 2030P, and 2050P (includes corresponding Graph/Chart).....II-531$350
   Table 15: Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050P (includes corresponding Graph/Chart).....II-541$350
   Key Factors Hampering Market Prospects for TES Technologies.....II-551$100
   Compact TES for Higher Efficiencies and Cleaner Energy.....II-561$100
   ‘FES’ (Future-Energy-Solution) TES Technology.....II-571$100
   A Resorption TES System for Seasonal Storage.....II-58
Novel PTC (Parabolic-Trough-Collector) for Residential Solar Heating.....II-58
1$100
   Graphite-Enhanced PCM for Better Storage Results in TES.....II-591$100
   Twenty Times Increase in Solar TES Capacity Using Graphite Foam.....II-60
PCM-TES for Baby Incubators.....II-60
1$100
   Cost-Effective and Eco-Friendly TES Systems.....II-611$100
   Novel Thermal Energy Storage System from NEST.....II-621$100
   Introduction to Energy Storage.....II-63
Thermal Energy Storage: A Prelude.....II-63
2$200
   Thermal Energy Storage for Low-, Mid- and High-Temperature Applications.....II-651$100
   Space Consumption and Maintenance of TES Systems.....II-66
Thermal Storage Technologies.....II-66
Sensible Heat Storage.....II-66
1$100
   Latent Heat Storage.....II-671$100
   Thermo Chemical Heat Storage.....II-68
TES Systems for Ice/Cool Storage.....II-68
Types of Ice Thermal Storage Systems.....II-68
1$100
   Advantages of Ice Thermal Storage.....II-69
Low Cost of Construction.....II-69
Small Chillers/Heat Rejection Equipment.....II-69
Reduced Pipe and Pump Sizes.....II-69
Low Cost of Energy.....II-69
Shift in Energy Usage.....II-69
1$100
   Energy Savings.....II-70
Other Advantages.....II-70
Solar Power TES Systems.....II-70
Two-Tank Direct System.....II-70
1$100
   Two-Tank Indirect System.....II-71
Single-Tank Thermocline System.....II-71
Inter-Seasonal Thermal Storage Systems.....II-71
Small-Scale Thermal Energy Storage (TES) Systems.....II-71
1$100
   High-Temperature Thermal Energy Storage.....II-72
Full and Partial Thermal Energy Storage Systems.....II-72
1$100
   Thermal Storage Media.....II-73
Ice/Ice Crystals.....II-73
Concrete.....II-73
1$100
   Gravel.....II-74
Phase Change Materials.....II-74
Rock Strata.....II-74
Costs of TES Systems.....II-74
2$200
   Siemens and AES Establish Fluence.....II-76
Ice Energy Introduces Residential Ice Storage.....II-76
1$100
   Ingersoll-Rand Takes Over CALMAC.....II-77
Genbright Partners with Ice Energy.....II-77
Ice Energy Partners with NRG Energy.....II-77
Siemens Unveil Thermal Storage System for Wind Power.....II-77
Con Edison Incentivizes Thermal Energy Storage Installations.....II-77
Axiom Exergy Raises Funds for Thermal Energy Storage.....II-77
1$100
   Ice Energy Joins Community Storage Initiative.....II-78
Masdar Institute Signs Agreement with EnergyNest.....II-78
1$100
   Abengoa Solar, S.A. (Spain).....II-79
AREVA NP SAS (France).....II-79
Baltimore Aircoil Company, Inc. (USA).....II-79
1$100
   BrightSource Energy, Inc. (USA).....II-80
Burns & McDonnell, Inc. (USA).....II-80
1$100
   Caldwell Energy Company (USA).....II-81
CALMAC Corporation (USA).....II-81
Chicago Bridge & Iron Company N.V. (The Netherlands).....II-81
1$100
   DC Pro Engineering LLC (UAE).....II-82
DN Tanks, Inc. (USA).....II-82
Dunham-Bush Holding Bhd (Malaysia).....II-82
1$100
   EnergyNest AS (Norway).....II-83
Evapco, Inc. (USA).....II-83
1$100
   FAFCO, Inc. (USA).....II-84
Finetex EnE Inc. (South Korea).....II-84
Goss Engineering, Inc. (USA).....II-84
Ice Energy, Inc. (USA).....II-84
1$100
   Siemens AG (Germany).....II-85
SolarReserve, LLC (USA).....II-85
1$100
   Steffes Corporation (USA).....II-86
Sunwell Technologies Inc. (Canada).....II-86
TAS Energy Inc. (USA).....II-86
1$100
   A. Volume Analytics.....II-87
Table 16: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....II-87
1$350
   Table 17: World 10-Year Perspective for Thermal Energy Storage by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....II-881$350
   Thermal Energy Storage Market by Technology.....II-89
Table 18: World Recent Past, Current & Future Analysis for Sensible Heat Technology by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....II-89
1$350
   Table 19: World 10-Year Perspective for Sensible Heat Technology by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....II-901$350
   Table 20: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....II-911$350
   Table 21: World 10-Year Perspective for Other Technologies by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....II-921$350
   B. Value Analytics.....II-93
Table 22: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....II-93
1$350
   Table 23: World 10-Year Perspective for Thermal Energy Storage by Geographic Region/Country - Percentage Breakdown of Dollar Revenues for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....II-941$350
   A. Market Analysis.....III-1
The Urgent Need to Reduce Water and Electricity Consumption Drive Strong Demand
  for TES Solutions.....III-1
1$75
   Thermal Energy Storage to Offset Escalating Electricity Cost.....III-21$75
   Different Types of TES Systems for Use in CSPs.....III-31$75
   Rising Number of Thermal Energy Storage Projects Benefit Market Prospects.....III-4
Efficiency of TES Highly Influenced by Climatic Conditions.....III-4
New Emission Regulations Bodes Well for the Energy Storage Solutions Market.....III-4
1$75
   NYC Utility’s Ambitious Plans for Energy Efficiency.....III-5
Table 24: Incentives under ConEd’s Demand Management Program by Storage Technology.....III-5
Long-term Outlook for Solar Energy to Drive Demand.....III-5
1$200
   Favorable US Policies to Improve Solar Power Generation Capabilities.....III-6
TES Solutions Offer Immense Potential for Earning Green Building LEED
  Certification.....III-6
1$75
   Dwindling Utility-Scale LCOE to Expand Scope for Thermal Energy Storage
  Technologies.....III-7
Ice Cub & Ice Bear Energy Storage Systems: TES Innovations from Ice Energy.....III-7
1$75
   Energy Storage Market in the US: A Macro Perspective.....III-81$75
   Current Value and Application of Storage Systems.....III-91$75
   Impediments to Energy Storage.....III-10
Product Launch.....III-10
Strategic Corporate Developments.....III-10
1$75
   Select Key Players.....III-115$375
   B. Market Analytics.....III-16
Volume Analytics.....III-16
Table 25: US Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-16
1$200
   Table 26: US 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....III-171$200
   Value Analytics.....III-18
Table 27: US Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-18
1$200
   A. Market Analysis.....III-19
Sunwell Technologies Inc. – A Major Canada-Based Company.....III-19
1$75
   B. Market Analytics.....III-20
Volume Analytics.....III-20
Table 28: Canadian Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-20
1$200
   Table 29: Canadian 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....III-211$200
   Value Analytics.....III-22
Table 30: Canadian Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-22
1$200
   A. Market Analysis.....III-23
Japan’s Focus on Renewable Energy Drives Healthy Market Growth for TES
  Systems.....III-23
1$75
   B. Market Analytics.....III-24
Volume Analytics.....III-24
Table 31: Japanese Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-24
1$200
   Table 32: Japanese 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....III-251$200
   Value Analytics.....III-26
Table 33: Japanese Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-26
1$200
   A. Market Analysis.....III-27
Europe’s Goal to Reduce Carbon Emissions Boost Demand for Thermal Energy
  Storage.....III-27
Three TES-based Approaches Proposed for Improving Energy Efficiency.....III-27
1$75
   Potential of Thermal Energy Storage Undermined by European Regulatory
  System.....III-28
1$75
   Review of Select Markets in Western Europe.....III-29
Germany.....III-29
1$75
   The UK.....III-302$150
   Product Launch.....III-32
Strategic Corporate Developments.....III-32
Select Key Players.....III-32
3$225
   B. Market Analytics.....III-35
Volume Analytics.....III-35
Table 34: European Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-35
1$200
   Table 35: European 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....III-361$200
   Value Analytics.....III-37
Table 36: European Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-37
1$200
   A. Market Analysis.....III-38
Unpenetrated and Underpenetrated Asian Countries Offer Huge Untapped Market
  Growth Opportunities.....III-38
Need for Technological Improvements for Realizing Cost Reductions.....III-38
Flourishing Solar Power Market Offers Growth Opportunities.....III-38
1$75
   Review of Select Markets in the Region.....III-39
China.....III-39
India.....III-39
1$75
   Australia.....III-401$75
   Select Key Players.....III-411$75
   B. Market Analytics.....III-42
Volume Analytics.....III-42
Table 37: Asia-Pacific Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-42
1$200
   Table 38: Asia-Pacific 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....III-431$200
   Value Analytics.....III-44
Table 39: Asia-Pacific Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-44
1$200
   A. Market Analysis.....III-45
Thermal Energy Storage to Deliver Reliable and Affordable Electricity in South
  Africa.....III-45
1$75
   Recent Industry Activity.....III-46
DC Pro Engineering LLC – A Key UAE-Based Company.....III-46
1$75
   B. Market Analytics.....III-47
Volume Analytics.....III-47
Table 40: Rest of World Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-47
1$200
   Table 41: Rest of World 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart).....III-481$200
   Value Analytics.....III-49
Table 42: Rest of World Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart).....III-49
1$200
    
 
 


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