Thermal Energy Storage Market- Roadmap for Recovery from COVID-19 | Increasing Demand for CSP to Boost the Market Growth | Technavio
Technavio has been monitoring the thermal energy storage market and it is poised to grow by 1,956.30 MW during 2020-2024, progressing at a CAGR of almost 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
Based on segmentation by technology, which is the leading segment in the market?
The MSES segment is expected to be the leading segment in the global market during the forecast period.
What are the major trends in the market?
Growing applications in district energy systems is one of the major trends in the market.
At what rate is the market projected to grow?
Growing at a CAGR of almost 10%, the incremental growth of the market is anticipated to be 1,956.30 MW.
Who are the top players in the market?
Abengoa SA, Acciona SA, Amsted Industries, Araner, BrightSource Energy Inc., CALMAC, DN Tanks Inc., EnergyNest, McDermott International Inc., and SENER group. are some of the major market participants.
What are the key market drivers and challenges?
Increasing demand for CSP is one of the major factors driving the market. However, the competition from alternate sources of energy storage restraints the market growth.
How big is the APAC market?
The APAC region will contribute 35% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abengoa SA, Acciona SA, Amsted Industries, Araner, BrightSource Energy Inc., CALMAC, DN Tanks Inc., EnergyNest, McDermott International Inc., and SENER group are some of the major market participants. The increasing demand for CSP will offer immense growth opportunities. To make 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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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Thermal Energy Storage Market 2020-2024: Segmentation
Thermal Energy Storage Market is segmented as below:
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The thermal energy storage market report covers the following areas:
Thermal Energy Storage Market Size
Thermal Energy Storage Market Trends
Thermal Energy Storage Market Analysis
This study identifies growing applications in district energy systems as one of the prime reasons driving the thermal energy storage market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
Thermal Energy Storage Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist thermal energy storage market growth during the next five years
Estimation of the thermal energy storage market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the thermal energy storage market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of thermal energy storage market vendors
Table of Contents:
Executive Summary
Market Landscape
Market ecosystem
Market characteristics
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Technology
Market segments
Comparison by Technology by volume
MSES - Market size and forecast 2019-2024
PCM - Market size and forecast 2019-2024
Market opportunity by Technology by volume
Customer landscape
Geographic Landscape
Geographic segmentation
Geographic comparison
Europe - Market size and forecast 2019-2024
North America - Market size and forecast 2019-2024
APAC - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Volume driver - Demand led growth
Market challenges
Market trends
Vendor Landscape
Vendor landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Abengoa SA
Acciona SA
Amsted Industries
Araner
BrightSource Energy Inc.
CALMAC
DN Tanks Inc.
EnergyNest
McDermott International Inc.
SENER group
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
About Us
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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