Latin America Thermal Energy Storage Market Size & Outlook
Latin America thermal energy storage market, 2018-2030 (US$M)
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Latin America thermal energy storage market highlights
- The Latin America thermal energy storage market generated a revenue of USD 650.9 million in 2023.
- The market is expected to grow at a CAGR of 8.7% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 650.9 million |
| Market revenue in 2030 | USD 1,169.3 million |
| Growth rate | 8.7% (CAGR from 2023 to 2030) |
| Largest segment | Commercial |
| Fastest growing segment | Residential |
| 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, Latin America region accounted for 13.0% 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 |
|---|
Latin America 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 71.99% in 2023. Horizon Databook has segmented the Latin America thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Central and South America region is characterized by heavy foreign investments in leading economies such as Brazil, Chile, and Argentina. These foreign investments have led to the establishment of financial sectors with strong roots.
According to the World Energy Outlook 2017, the regions energy storage projects are expected to grow significantly with diverse technologies such as flywheel, thermal energy storage, battery compressed air, and pumped energy storage.
Countries in this region is investing significantly in concentrated solar power projects owing to which the market for thermal energy storage is expected to grow in coming years, as thermal energy storage is used in CSP plant to storage the solar heat for later use.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America thermal energy storage market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America thermal energy storage market size, by country, 2018-2030 (US$M)
Latin America Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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