Asia Pacific Thermal Energy Storage Market Size & Outlook
Asia Pacific thermal energy storage market, 2018-2030 (US$M)
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Asia Pacific thermal energy storage market highlights
- The Asia Pacific thermal energy storage market generated a revenue of USD 1,033.3 million in 2023.
- The market is expected to grow at a CAGR of 13.1% from 2024 to 2030.
- In terms of segment, commercial was the largest revenue generating application in 2023.
- Industrial is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,033.3 million |
| Market revenue in 2030 | USD 2,442.1 million |
| Growth rate | 13.1% (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 |
| Key market players worldwide | Amsted Industries, BrightSource Energy, Abengoa, Terrafore Technologies, Ice Energy, Caldwell Energy Company, Cryogel, Steffes Corporation |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 20.6% of the global thermal energy storage market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,442.1 million by 2030.
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Thermal Energy Storage Market Scope
Thermal Energy Storage Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 73.58% in 2023. Horizon Databook has segmented the Asia Pacific thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is considered as the emerging regions in the world. With fast growing economies such as China and India, this region is expected to be the leader in various industry sectors such as manufacturing, IT, telecom and many more.
Rise in environmental concerns has resulted Asia Pacific countries to make favorable policies and plan to deploy green and clean energy technologies along with rise in focus on energy efficiency in the region.
The region has witnessed rise in demand for electricity from nations such as China, India, Indonesia, and Malaysia and others, owing to the rapid growth in their urbanizations and population. These developing nations have many unreliable power grids, and lack of fundamental infrastructure systems in some areas.
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Target buyers of Asia Pacific 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific thermal energy storage market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific thermal energy storage market size, by country, 2018-2030 (US$M)
Asia Pacific Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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