Dublin, July 22, 2024 (GLOBE NEWSWIRE) -- The "High Temperature Thermal Energy Storage Solutions Market - A Global and Regional Analysis: Focus on Storage Mediums and current and future installed capacities" report has been added to ResearchAndMarkets.com's offering.
The global thermal energy storage market is expected to reach $20 billion by 2030 from $4.5 billion in 2022, growing at 16.3% during the period.
The high-temperature thermal energy storage (HTTES) market has experienced significant growth in recent years, driven by the increasing need for efficient and sustainable energy storage solutions across various industries.
In the competitive landscape, several key players are actively developing and deploying HTTES solutions to gain a competitive edge. Companies such as Siemens Gamesa, Azelio, and EnergyNest are at the forefront, leveraging their technological expertise and strategic partnerships to expand their market presence. The market also sees the entry of innovative startups offering niche solutions and targeting specific applications within the HTTES sector.
North America and Europe are leading the HTTES market, driven by strong regulatory support, significant investments in renewable energy projects, and the presence of key market players. The Asia-Pacific region is also witnessing rapid growth, fueled by the rising energy demand, increasing industrialization, and government initiatives to promote clean energy technologies.
High-temperature thermal energy storage systems store energy in the form of heat at temperatures typically above 200C, making them ideal for applications requiring high energy density and long-duration storage. These systems are crucial for balancing energy supply and demand, particularly in industrial processes, power generation, and renewable energy integration.
The advancements in materials and technologies have enabled the development of more efficient and cost-effective HTTES solutions. The use of materials such as molten salts, ceramics, and phase change materials (PCMs) has enhanced the thermal storage capacity and longevity of these systems. Moreover, innovations in thermal management and insulation have improved the overall performance and efficiency of HTTES systems.
One of the key drivers of the HTTES market is the growing adoption of renewable energy sources, such as solar and wind power. HTTES systems can store excess energy generated during peak production periods and release it during periods of low production or high demand, thereby ensuring a reliable and continuous energy supply.
This capability is particularly important for industrial applications and grid stabilization. The industrial sector is a major end user of HTTES systems, utilizing them for processes such as metal smelting, chemical production, and food processing. These applications require large amounts of heat, and HTTES systems provide an efficient and sustainable way to meet these energy needs. Additionally, the increasing focus on reducing greenhouse gas emissions and improving energy efficiency has further driven the adoption of HTTES solutions in the industrial sector.
Competitive Landscape
- Heliogen
- Brenmiller Energy
- Batsand
- EnergyNest
- Polar Night Energy
- Build to zero
- Eco-Tech Ceram
- Newton Energy Solutions
- Kyoto Group
- Solstor Energy
- Overview
- Top Products/Product Portfolio
- Top Competitors
- Target Customers
- Key Personnel
- Analyst View
- Market Share
Key Topics Covered:
1. Markets: Industry Outlook
1.1 Trends: Current and Future Impact Assessment
1.2 Supply Chain Overview
1.2.1 Value chain Analysis
1.2.2 Pricing Forecast
1.3 R&D Review
1.3.1 Patent Filing Trend by Country, by Company
1.4 Regulatory Landscape
1.5 Market Dynamics Overview
1.5.1 Market Drivers
1.5.2 Market Restraints
1.5.3 Market Opportunities
1.6 Startup Funding Summary
1.7 Techno-commercial analysis of Technologies
1.7.1 Existing Commercial Technologies
1.7.1.1 Solat Thermal Plants
1.7.1.2 Geothermal Vents
1.7.1.3 Others
1.7.2 Upcoming Technologies
1.7.2.1 Sand Batteries
1.7.2.2 Other Solid State Thermal Energy Storage Solutions
1.7.3 Cost Comparisons
1.7.4 Adoption Locations and commercial viability
2. High Temperature Energy Storage Solutions Market by Application
2.1 High Temperature Energy Storage Solutions Market Application
2.1.1 Residential Applications
2.1.2 Industrial Applications
2.2 High Temperature Energy Storage End-User Applications
2.2.1 Heat Capture, Storage and Redirection
2.2.2 District Heating
2.2.3 Others
3. High Temperature Energy Storage Solutions Market by Products
3.1 High Temperature Energy Storage Solutions Market by Technology
3.1.1 Solid State Energy Storage Solutions
3.1.2 Solar Thermal Energy Storage
3.2 High Temperature Energy Storage Solutions Market by Storage Media
3.2.1 Molten Salt
3.2.2 Sand
3.2.3 Crushed Rocks
3.2.4 Concrete
3.2.5 Others
3.3 High Temperature Energy Storage Solutions Market by Level of Commercialization
3.3.1 Design and R&D Phase
3.3.2 Pilot Phase
3.3.3 Commercial Phase
4. High Temperature Energy Storage Solutions Market by Region
4.1 High Temperature Energy Storage Solutions Market - by Region
4.2 North America
4.2.1 Markets
4.2.1.1 Key Market Participants in North America
4.2.1.2 Business Drivers
4.2.1.3 Business Challenges
4.2.2 Application
4.2.3 Product
4.2.4 North America by Country
4.2.4.1 U.S.
4.2.4.1.1 Market by Application
4.2.4.1.2 Market by Product
4.2.4.2 Canada
4.2.4.2.1 Market by Application
4.2.4.2.2 Market by Product
4.3 Europe
4.4 Asia-Pacific
4.5 Rest-of-the-World
For more information about this report visit https://www.researchandmarkets.com/r/mhqaqs
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