Germany Thermal Energy Storage Market Size & Outlook
Germany thermal energy storage market, 2018-2030 (US$M)
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Germany thermal energy storage market highlights
- The Germany thermal energy storage market generated a revenue of USD 291.6 million in 2023 and is expected to reach USD 635.8 million by 2030.
- The Germany market is expected to grow at a CAGR of 11.8% from 2024 to 2030.
- In terms of segment, industrial was the largest revenue generating application in 2023.
- Commercial 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 291.6 million |
| Market revenue in 2030 | USD 635.8 million |
| Growth rate | 11.8% (CAGR from 2023 to 2030) |
| Largest segment | Industrial |
| Fastest growing segment | Commercial |
| 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, Germany accounted for 5.8% 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 Europe, UK thermal energy storage market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 796.0 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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Germany 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.
Industrial was the largest segment with a revenue share of 36.04% in 2023. Horizon Databook has segmented the Germany thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Germany is recognized as developed economies in the world. Over the past few years, the country had invested in unconventional power generation technology, in order to reduce its reliance on conventional sources, such as coal and natural gas, to be energy self-sufficient.
With investments made on such large proportions, the solar district heating projects have growing over the past few years owing to availability of funds and is expected to witness further growth over the projected period.
Also, ongoing innovation and technological advancement by vendors is further expected to propel the growth of the market. For instance, SS&A Power Development and WIKA Group, a global leader in the field of measurements technology signed a joint venture agreement to incorporate E2S Power AG company.
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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 country-level data and insights on the Germany thermal energy storage market , including forecasts for subscribers. This country databook contains high-level insights into Germany thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany thermal energy storage market size, by application, 2018-2030 (US$M)
Germany Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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