Global Thermal Storage Market to Witness Impressive Growth, Revenue to Surge to USD 8.30 Billion By 2028

20-Aug-2021 | Zion Market Research

The global Thermal Storage market accounted for USD 4.83 Billion in 2020 and is expected to reach USD 8.30 Billion by 2028, growing at a CAGR of 6.7% from 2021 to 2028.       

The Thermal Storage market report includes comprehensive and profound analysis on the global and regional level. The report gives historic data of 2016 to 2019 along with a forecast from 2021 to 2028 based on revenue (USD Billion). The study comprises drivers, restraints, and opportunities in the Thermal Storage market along with the impact on the demand over the forecast period.

The report provides the complete view of the Thermal Storage market and encompasses detailed type portfolio and strategic developments of key vendors. To know the competitive landscape of the Thermal Storage market, an analysis of Porter’s five forces model is done.

Global Thermal Storage Market Size

The study provides a decisive view on the thermal storage market by segmenting the market based on Technology, storage material, and applications. All the application segments have been analyzed based on present and future trends and the market is estimated from 2021 to 2028. Key application segments covered under this study include power generation, district heating & cooling, process heating & cooling. On the basis of technology, the market has been segmented into sensible heat, latent heat, and thermal chemical heat. On the basis of storage material, the market has been segmented into the water, molten salt, and phase change material. The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. This segmentation includes demand for thermal storage based on individual applications in all the regions and countries.

The MEA was the biggest and most attractive market that ruled the global thermal storage market. South Africa was the top region in the global thermal storage market. Asia Pacific region is likely to be the second top area for the thermal energy market, owing to developing nations such as China, India, South Korea, Japan, Indonesia, and Malaysia are witnessing rapid growth in urbanization and population.

Some of the major players involved in the global thermal storage market include Calmac, DN Tanks, Ice Energy Holdings. Inc, Steffes Corporation, Burns & McDonnell, Fafco, Moixa Energy Holding Ltd, Trinabess, SENEC.IES, Redflow Limited, Murata Manufacturing, Statoil ASA, Abengoa Solar, CircuiTree and Duke Energy Corporation.

Browse the full Thermal Storage Market (By Technology: Sensible Heat, Latent Heat And Thermo Chemical Heat; By Storage Material : Water, Molten Salt And Phase Change Material For Power Generation, District Heating & Cooling, And Process Heating & Cooling By Applications): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2028.” Report at

The global Thermal Storage market is segmented as follows:   

By Storage Material  Analysis

  • Water
  • Molten Salt
  • Phase Change Material

By Technology

  • Sensible Heat
  • Latent Heat
  • Thermo Chemical Heat

By Application

  • Power Generation
  • District Heating & Cooling
  • Process Heating & Cooling

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • paypal
  • amazon
  • visa
  • master card

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed