Russia Thermal Energy Storage Market Size & Outlook
Russia thermal energy storage market, 2018-2030 (US$M)
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Russia thermal energy storage market highlights
- The Russia thermal energy storage market generated a revenue of USD 153.5 million in 2023 and is expected to reach USD 332.4 million by 2030.
- The Russia market is expected to grow at a CAGR of 11.7% 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 153.5 million |
| Market revenue in 2030 | USD 332.4 million |
| Growth rate | 11.7% (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, Russia accounted for 3.1% 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 |
|---|
Russia 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 38.31% in 2023. Horizon Databook has segmented the Russia thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Russian government is actively investing in R&D pertaining to thermal energy storage in order to come up with innovative storage mediums which have a low or zero impact on the environment.
The R&D is focused on implementing the thermal energy storage techniques to be implemented in building walls by employing the PCMs in air vents and plasters. The increasing government initiatives are anticipated to boost the market over the forecast period.
The Russian government has mandated certification program for energy installations in residential & commercial buildings. Buildings in Russia results to consume the highest amount of energy. This has compelled the government to invest in R&D pertaining to building energy requirements.
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Horizon Databook provides a detailed overview of country-level data and insights on the Russia thermal energy storage market , including forecasts for subscribers. This country databook contains high-level insights into Russia thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Russia thermal energy storage market size, by application, 2018-2030 (US$M)
Russia Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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