Top Companies in Thermal Energy Storage Market | Leading Companies in Thermal Energy Storage Industry Key Insights & Trends Analysis

Thermal Energy Storage Market is valued in 2022 and is projected to reach a value of USD 450.1 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 14.2% over the forecast period.

Top Companies in Thermal Energy Storage Market | Leading Companies in Thermal Energy Storage Industry Key Insights & Trends Analysis
thermal energy storage market

Market Overview:

Global Thermal Energy Storage Market is valued at in 2022 and is projected to reach a value of USD 450.1 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 14.2% over the forecast period. The growth of the Global Thermal Energy Storage Market is driven by significant factors like the change in preference towards renewable energy generation that includes concentrated solar power and the growing demand for Thermal Energy Storage systems in HVAC. In addition, the increasing demand for enhanced energy efficiency and ongoing energy utilization efforts is expected to propel the Thermal Energy Storage Market growth in the forecast period. Furthermore, the increasing government initiatives and technological progress initiatives adopted by numerous vendors will fuel the market's growth. Besides, the presence of top market industries in emerging nations will fuel the global Thermal Energy Storage market growth.

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Some of the key players operating in the Thermal Energy Storage Market are listed below:

Company Name

Revenue in USD

Burns & McDonnell Inc.

$2 Billion

SolarReserve Inc.

<$5 Million

Abengoa Solar S.A

$1 Billion

BrightSource Energy Inc.

$82 Million

Baltimore Aircoil International NV

$159 Million

MAN Energy Solutions

$3 Billion

Dunham-Bush Ltd.

$434 Million

Steffes Corporation

$23 Million

  1.  Burns & McDonnell

Founded in 1898, Burns & McDonnell Inc. operates as a construction engineering company. The company provides engineering, construction, architecture, environmental, and consulting solutions. In addition, Burns & McDonnell serves customers across the globe.

  1. SolarReserve

SolarReserve Inc. designs and builds solar renewable power plants. The company makes plants that can deliver power whenever needed, twenty-four hours a day or during peak periods, utilizing the heat from the sun. SolarReserve Inc. has multiple projects in various stages located all over the world.

  1. Abengoa Solar

Spain-based Abengoa Solar S.A offers utility services. The Company transmits, generates, and distributes electricity. In addition, the company serves customers in Spain.

  1. BrightSource Energy

Based in Oakland CA, BrightSource Energy Inc. designs develops and deploys solar thermal technology to generate energy in utility-scale power plants. The company provides proprietary software to make high-temperature steam for electric power, petroleum, and industrial-process markets. In addition, the company serves customers worldwide.

  1. Baltimore Air Coil Technology 

Founded in 1938, Baltimore Aircoil International NV manufactures and distributes large industrial cooling systems. Also, the company markets its cooling towers, evaporative condensers, and ice chiller thermal storage products to customers all over Western Europe.

  1. MAN Energy Solutions

MAN Energy Solutions SE operates as an energy research, development, and production company for applications in the transportation industry. The company is headquartered in Germany and serves clients within the marine, energy, and industrial sectors.

  1. Dunham Bush

Dunham-Bush Ltd. designs manufacture and distributes industrial cooling and refrigeration systems. The company markets nuclear reactor cooling systems, air cooling systems, and environmentally neutral heating and cooling systems. The company was founded in 1894 and is headquartered at Kidamai Industrial Park Bukit Angkat 5755-6 Lot, Kajang, Selangor, Malaysia.

  1. Steffes Corporation

Founded in 1960, Steffes Corporation manufactures and markets electric thermal storage off-peak heating systems. In addition, the company provides oil field tanks and accessories, steel secondary containment and cattle guards, walkway and stairway systems, industrial control panels, and custom oil field products.

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