UAE Thermal Energy Storage Market Size & Outlook

The thermal energy storage market in the UAE is expected to reach a projected revenue of US$ 598.6 million by 2030. A compound annual growth rate of 12.4% is expected of the UAE thermal energy storage market from 2024 to 2030.
Revenue, 2023 (US$M)
$263.6
Forecast, 2030 (US$M)
$598.6
CAGR, 2024 - 2030
12.4%
Report Coverage
UAE

UAE thermal energy storage market highlights

  • The UAE thermal energy storage market generated a revenue of USD 263.6 million in 2023 and is expected to reach USD 598.6 million by 2030.
  • The UAE market is expected to grow at a CAGR of 12.4% 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 2023USD 263.6 million
Market revenue in 2030USD 598.6 million
Growth rate12.4% (CAGR from 2023 to 2030)
Largest segmentCommercial
Fastest growing segmentResidential
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationResidential, Commercial, Industrial
Key market players worldwideAmsted Industries, BrightSource Energy, Abengoa, Terrafore Technologies, Ice Energy, Caldwell Energy Company, Cryogel, Steffes Corporation


Other key industry trends

  • In terms of revenue, UAE accounted for 5.3% 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 Middle East & Africa, UAE thermal energy storage market is projected to lead the regional market in terms of revenue in 2030.
  • UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 598.6 million by 2030.

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Thermal Energy Storage Market Scope

Thermal energy storage market segmentation & scope

Thermal Energy Storage Market Companies

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UAE 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 69.69% in 2023. Horizon Databook has segmented the UAE thermal energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.


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Target buyers of UAE thermal energy storage market databook

  • Our clientele includes a mix of thermal energy storage market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • 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 UAE thermal energy storage market , including forecasts for subscribers. This country databook contains high-level insights into UAE thermal energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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UAE thermal energy storage market size, by application, 2018-2030 (US$M)

UAE Thermal Energy Storage Market Outlook Share, 2023 & 2030 (US$M)

UAE thermal energy storage market size, by application, 2018-2030 (US$M)

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