China Thermal Energy Storage Market Size & Outlook
China thermal energy storage market, 2018-2030 (US$M)
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China thermal energy storage market highlights
- The China thermal energy storage market generated a revenue of USD 361.6 million in 2023 and is expected to reach USD 843.1 million by 2030.
- The China market is expected to grow at a CAGR of 12.9% 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.
Thermal energy storage market data book summary
| Market revenue in 2023 | USD 361.6 million |
| Market revenue in 2030 | USD 843.1 million |
| Growth rate | 12.9% (CAGR from 2023 to 2030) |
| Largest segment | Commercial |
| Fastest growing segment | Industrial |
| 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, China accounted for 7.2% 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 Asia Pacific, China thermal energy storage market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 323.8 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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China 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 78.37% in 2023. Horizon Databook has segmented the China thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
China accounted for the largest market share in 2019 in the Asia Pacific region and is projected to register significant CAGR during the forecast period. Chinese government has been actively investing in the energy storage sector.
They have also opened channels for foreign investment in the country, which is expected to further propel the thermal energy storage & distribution market in the region. Further, Chinese government has taken serious measures to promote buildings energy efficiency across the country.
China’s 13th Five-Year Plan, formulated in February 2017, has suggested that the investments and research & development activity in the field of thermal energy storage will increase significantly, in order to achieve a future with clean energy and to subsequently reduce the region’s pressing issue of high pollution.
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Target buyers of China 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 country-level data and insights on the China thermal energy storage market , including forecasts for subscribers. This country databook contains high-level insights into China thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China thermal energy storage market size, by application, 2018-2030 (US$M)
China Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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