IDTechEx Release New Global Thermal Energy Storage Market Report

BOSTON, March 28, 2024 /PRNewswire/ -- IDTechEx Research, a trusted provider of independent market intelligence, announces the availability of a new report, "Thermal Energy Storage 2024-2034: Technologies, Players, Markets, and Forecasts".

The report forecasts that the industrial thermal energy storage market will reach US$4.5bn by 2034. Heating and cooling accounts for approximately 50% of global energy consumption, with ~30% of this consumption represented by heating demand from industry, with the majority of heat production using fossil fuels. Consequently, ~25% of the global energy pollution comes from heat produced for industrial processes. Therefore, there is growing demand across various industrial sectors for technologies to both generate and store decarbonized heat, such as thermal energy storage (TES).

"Thermal Energy Storage 2024-2034: Technologies, Players, Markets, and Forecasts" provides market overviews and data analysis for the industrial TES market, including value chain, strategic partnerships, funding, material suppliers, business models, key player activity, planned projects, and manufacturing developments.

This IDTechEx report also provides 10-year market forecasts on the TES market for the period 2020 - 2034, in both capacity (GWh) and market value (US$B). Capacity forecasts are provided by region, technology, and application.

The Thermal Energy Storage research report provides the following key information:

• Discussion and analysis on regional market drivers for growth of thermal energy storage (TES) to provide decarbonized heat to industrial processes, and where earlier growth is expected to occur. This includes commentary on regional natural gas prices for industrial end users, and government- or state-level funding, programs, and initiatives focused on decarbonization of industrial process heat.
• Comprehensive analysis and discussion on thermal energy storage applications in industrial processes such as calcination, drying, metal heat treating and melting, process fluid heating, power generation, among more. This includes analysis of the suitability of identified TES technologies for these processes by process temperature requirements, types of heat (convective, conductive, radiative, air, steam, etc), and direct electrification efforts of industrial heating processes.
• Coverage of TES to be used for long duration energy storage (LDES) applications, including key players and projects, for supporting adiabatic compressed air energy storage (CAES) and liquid air energy storage (LAES) LDES technologies, and for chemical looping processes.
• In-depth market overview and data analysis of TES in industry, including value chain, strategic partnerships, funding, material suppliers, business models, key player activity, manufacturing developments, and existing and planned projects by ~2027, by capacity (MWh), industry sector, commercial readiness (prototype, pilot, demonstration, commercial scale), region, and player. Raw project data with project details (e.g., project description, customers, funding) is also provided where applicable.
• Market overview of TES projects paired with grid-scale concentrated solar plants (CSP) is included - raw project data is also provided. Discussion on other TES markets is also included.
• Comprehensive and extensive coverage and analysis on thermal energy storage technologies and materials, including sensible heat (molten salt, solid-state such as concrete, refractory brick), latent heat (phase change materials), and electro-thermal / pumped thermal energy storage (ETES / PTES) technologies. This includes system metrics (e.g., costs, storage temperatures, round-trip efficiency, lifetime), key player activity, demonstrated projects, and commercial developments.
• In-depth coverage, discussion, and analysis of thermochemical energy storage technologies (TCES), including types of TCES technologies (sorption and chemical reaction) and systems, identified materials and technologies likely to see further research and development, and identified prototype and pilot systems.
• Granular 10-year TES market forecasts for industrial and LDES applications, by technology (GWh), by region (GWh), by application (GWh), and by value (US$B) for the 2020-2034 period.

The Thermal Energy Storage research report Table of Contents includes:

• Executive Summary
• Introduction to Thermal Energy Storage
• Regional Market Drivers and Initiatives for Thermal Energy Storage
• Thermal Energy Storage Applications
• Thermal Energy Storage Market Overview and Data Analysis
• Thermal Energy Storage Technologies
• 10-year TES market forecasts, by technology (GWh), region (GWh), application (GWh), and value (US$B).

For more information on this report, including downloadable sample pages, please visit www.IDTechEx.com/TES, or for the full portfolio of Energy related research available from IDTechEx, please visit www.IDTechEx.com/Research.

IDTechEx reports provide a detailed appraisal of a technology and its applications, based on primary and secondary research conducted by technical analysts, helping you understand the full picture. These high quality, unbiased studies are researched at a global level.

About IDTechEx

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SOURCE IDTechEx