Global Thermal Energy Storage Market Size & Outlook
Global thermal energy storage market, 2018-2030 (US$M)
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Global thermal energy storage market highlights
- The global thermal energy storage market generated a revenue of USD 5,018.5 million in 2023 and is expected to reach USD 10,897.5 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 11.7% by 2030.
- In terms of segment, commercial accounted for a revenue of USD 2,406.5 million in 2023.
- Industrial is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 5,018.5 million |
| Market revenue in 2030 | USD 10,897.5 million |
| Growth rate | 11.7% (CAGR from 2023 to 2030) |
| Largest segment | Commercial |
| Fastest growing segment | Industrial |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
Other key industry trends
- In terms of revenue, the North America accounted for 26.7% of the global thermal energy storage market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 184.4 million by 2030.
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Thermal Energy Storage Market Scope
Thermal Energy Storage Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global thermal energy storage market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to thermal energy storage market will help companies and investors design strategic landscapes.
Commercial was the largest segment with a revenue share of 47.95% in 2023. Horizon Databook has segmented the Global thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Thermal Energy Storage Application Outlook (Revenue, USD Million, 2018-2030)
- Residential
- Commercial
- Industrial
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Target buyers of Global thermal energy storage market databook
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Our clientele includes a mix of thermal energy storage market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global thermal energy storage market , including forecasts for subscribers. This global databook contains high-level insights into Global thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global thermal energy storage market size, by regions, 2018-2030 (US$M)
Top 10 countries: Thermal energy storage market size, 2023 (US$M)
Global thermal energy storage market share, by application, 2023 & 2030 (%, US$M)
Thermal energy storage market: Opportunity assessment by country
Global thermal energy storage market, by region, 2023 (US$M)
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