High Temperature Energy Storage Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION 

Thermal energy is a type of kinetic energy produced by the heat generated by an object that emits heat or the friction of the object. Thermal energy can be generated in the form of radiation, latent absorption, or by applying heat directly. The negative effects of greenhouse gas emissions and rising fuel prices are driving the demand for high temperature energy storage around the world. Constantly increasing energy consumption tends to increase the demand for high temperature energy storage in the near future

MARKET DYNAMICS

Thermal storage is used to provide cooling capacity for commercial buildings by producing cold water during periods of low demand and using it during times of high demand. Recent developments in seasonal and molten heat storage have made it possible to store energy during the day and summer seasons and consume energy during the night and winter seasons. The Asia-Pacific region is expected to have the highest growth rates due to increased population, increased energy consumption and increased demand for renewable energy sources. As European countries focus on green energy, they are devoted to thermal energy and are expected to boost the European thermal energy market.

MARKET SCOPE

The "Global High Temperature Energy Storage Market Analysis to 2031" is a specialized and in-depth study of the high temperature energy storage market with a special focus on the global market trend analysis. The report aims to provide an overview of the high temperature energy storage market with detailed market segmentation by storage type, technology, application, end user and geography. The global high temperature energy storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading high temperature energy storage market players and offers key trends and opportunities in the high temperature energy storage market. 

MARKET SEGMENTATION

The global high temperature energy storage market is segmented based on storage type, technology, application and end user. On the basis of its storage type, high temperature energy storage market can be segmented into the water, molten salt, phase change materials (PCM), and others. On the basis of technology, high temperature energy storage market can be segmented into sensible heat storage, latent heat storage, and thermochemical storage. On the basis of technology, high temperature energy storage market can be segmented into power generation, district heating & cooling, process heating & cooling. On the basis of its end user, high temperature energy storage market can be segmented into residential, commercial, and industrial. 
IMPACT OF COVID-19 ON HIGH TEMPERATURE ENERGY STORAGE MARKET
The blockade imposed by the COVID-19 pandemic has temporarily banned import / export, manufacturing and processing activities in various industries and utilities, reducing electricity demand from these consumers. In addition, the construction and freezing of new power infrastructure, renewable power plants, grids and other power plants due to labor unavailability and widening supply-demand gaps is projected to impede market growth during the pandemic.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global High Temperature Energy Storage Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The High Temperature Energy Storage Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting High Temperature Energy Storage Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the high temperature energy storage market in these regions.

MARKET PLAYERS

The reports cover key developments in the high temperature energy storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from high temperature energy storage market are anticipated to lucrative growth opportunities in the future with the rising demand for high temperature energy storage market. Below mentioned is the list of few companies engaged in the high temperature energy storage market. 
The report also includes the profiles of key high temperature energy storage market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• Calmac
• Abengoa Solar
• Cadwell Energy
• Baltimore Aircoil Company
• Climate Change Technologies
• Vattenfall
• SaltX
• Azelio
• Brightsource Energy
• DC Pro Engineering

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

High Temperature Energy Storage Report Scope