Brazil Thermal Energy Storage Market Size & Outlook
Brazil thermal energy storage market, 2018-2030 (US$M)
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Brazil thermal energy storage market highlights
- The Brazil thermal energy storage market generated a revenue of USD 200.5 million in 2023 and is expected to reach USD 375.7 million by 2030.
- The Brazil market is expected to grow at a CAGR of 9.4% from 2024 to 2030.
- In terms of segment, commercial was the largest revenue generating application in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
Thermal energy storage market data book summary
| Market revenue in 2023 | USD 200.5 million |
| Market revenue in 2030 | USD 375.7 million |
| Growth rate | 9.4% (CAGR from 2023 to 2030) |
| Largest segment | Commercial |
| Fastest growing segment | Residential |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Brazil accounted for 4.0% of the global thermal energy storage market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil thermal energy storage market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 375.7 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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Brazil 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 72.02% in 2023. Horizon Databook has segmented the Brazil thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Brazil accounted for the significant market share in Central and South American thermal energy storage market in 2019. As Brazil has an advantage of high solar radiation index which proves that solar resources possess a potential that can be utilized, owing to which the solar industry is expected to grow in coming years in the country.
Moreover, Brazil is also facing major power crises owing to which government is taking various initiatives enhance adoption of energy conservation and energy efficiency practices in the country.
Brazilian Development Bank Fundo Technologic (Technological Fund) (BNDES Funtec), is an organization which funds and invests in renewable technologies. The organization encourages the setting up of clean energy plants & power stations.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil thermal energy storage market , including forecasts for subscribers. This country databook contains high-level insights into Brazil thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil thermal energy storage market size, by application, 2018-2030 (US$M)
Brazil Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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