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Cold Thermal Energy Storage Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.
Published Nov 01, 2024
Length 171 Pages
SKU # FOB19326542

Description

Cold Thermal Energy Storage Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Cold Thermal Energy Storage Market

The cold thermal energy storage market size was valued at USD 227.9 million in 2020, and the market is now projected to grow from USD 244.7 million in 2021 to USD 616.6 million in 2028, exhibiting a CAGR of 14.1% during the forecast period of 2021-2028.

The pandemic has significantly influenced the number of new renewable power implementations. The development of renewable energy technologies in several markets was also impacted. The decline is represented by delays in construction activities due to supply chain disruption caused by the pandemic. The lockdown measures across all major economies, social-distancing guidelines for workers, and the subsequent financing challenges had hindered the market growth. Thus, the COVID-19 pandemic has hampered the cold thermal energy storage market growth.

The cold thermal energy storage market share globally has augmented because of the increasing efforts to decarbonizes the cooling sector for sustainable development. The exploitation of such systems reduces fossil fuel consumption and greenhouse gas emissions greatly. This could ultimately assist to mitigate the rising pollution risk. Air conditioning systems account for between 16-50% of electricity consumption in various regions worldwide. This system technology is more efficient than conventional decentralized AC systems. It can also decrease electricity use during peak demand through reduced power consumption.

The trend is amplified demand for reliable and efficient energy storage systems that is boosting the market growth. In the past few decades, a huge amount of daytime peak power all around the world has been shifted to off-peak hours with the use of such types of systems. These systems are capable of providing better cooling as compared to usual non-storage energy-producing methods because of significantly less energy input requirement. Noteworthy, technical developments have been made in energy storage technology, which has had an extensive and vivid blow on the lives of people, increasing demand for the product.

Comprehensive Analysis of Cold Thermal Energy Storage Market

The cold thermal energy storage market and power & energy industry is intensifying at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by types of applications. The applications include building and industrial. The building involves building residential, commercial, and warehouse. The industrial type consists of meat processing, dairy, beverages, and others.

The North American region is conducive to the global cold thermal energy storage market, leading to a recall of USD 89.03 million because of continuous investments in research & development of energy storage and management solutions.

The top players in the market play a decisive role in the power & energy industry giving surety industrial prospectus growth and setting market values. These players include CALMAC (U.K.), Baltimore Aircoil Company (U.S.), Nostromo Energy (Israel), Vogt Ice LLC (U.S.), BeKa Heiz-und Kuhlmatten GmbH (Germany), Trane (Ireland), Viking Cold Solutions, Inc. (U.S.), NETenergy (U.S.), EVAPCO, Inc. (U.S.), EnergiVault (U.K.), Omega Thermo Products (U.S.), Fullwood Packo Group (U.K.), and Kilkenny Cooling Systems (Ireland), these market players provide a level-playing competitive landscape.

In August 2021, Empower announced that the company had signed a contract with Marsa Al Arab to deliver 3,700 refrigeration tons (RT) of district cooling energy service. It possesses several hotels and luxury villas besides restaurants, shops, conference and wedding centers and a yacht club.

Segmentation Table

Global Cold Thermal Energy Storage Market Scope

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Estimated Year 2021

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD million)

Segmentation

By Application and By Region

Segmentation

By Application

Buildings
  • Commercial
  • Residential
  • Warehouse
Industrial
  • Meat Processing
  • Beverages
  • Dairy
  • Others
By Region

North America (By Application)
  • U.S.
  • Canada
Europe (By Application)
  • Germany
  • Russia
  • France
  • Spain
  • U.K.
  • Italy
  • Rest of Europe
Asia Pacific (By Application)
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
Latin America (By Application)
  • Brazil
  • Mexico
  • Rest of Latin America
The Middle East and Africa (By Application)
  • GCC
  • South Africa
  • Rest of the Middle East and Africa
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Table of Contents

171 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends
4.2. Ice Banks
4.2.1. Technology Overview
4.2.2. List of Key Manufacturers
4.3. Key Developments: Mergers, Acquisitions, Partnership, etc
4.4. Latest Technological Advancement
4.5. Regulatory Landscape
4.6. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Cold Thermal Energy Storage Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments by Industry Players in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Cold Thermal Energy Storage Market Analysis (USD Million), Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Application
6.2.1. Buildings
6.2.1.1. Residential
6.2.1.2. Commercial
6.2.1.3. Warehouse
6.2.2. Industrial
6.2.2.1. Meat Processing
6.2.2.2. Dairy
6.2.2.3. Beverages
6.2.2.4. Others
6.3. Market Analysis, Insights and Forecast – By Region
6.3.1. North America
6.3.2. Europe
6.3.3. Asia Pacific
6.3.4. Latin America
6.3.5. Middle East & Africa
7. North America Cold Thermal Energy Storage Market Analysis (USD Million), Insights and Forecast, 2017-2028
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Application
7.2.1. Buildings
7.2.1.1. Residential
7.2.1.2. Commercial
7.2.1.3. Warehouse
7.2.2. Industrial
7.2.2.1. Meat Processing
7.2.2.2. Dairy
7.2.2.3. Beverages
7.2.2.4. Others
7.3. Market Analysis, Insights and Forecast – By Country
7.3.1. U.S.
7.3.2. Canada
8. Europe Cold Thermal Energy Storage Market Analysis (USD Million), Insights and Forecast, 2017-2028
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Application
8.2.1. Buildings
8.2.1.1. Residential
8.2.1.2. Commercial
8.2.1.3. Warehouse
8.2.2. Industrial
8.2.2.1. Meat Processing
8.2.2.2. Dairy
8.2.2.3. Beverages
8.2.2.4. Others
8.3. Market Analysis, Insights and Forecast – By Country
8.3.1. U.K
8.3.2. Germany
8.3.3. France
8.3.4. Italy
8.3.5. Spain
8.3.6. Russia
8.3.7. Rest of Europe
9. Asia Pacific Cold Thermal Energy Storage Market Analysis (USD Million), Insights and Forecast, 2017-2028
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Application
9.2.1. Buildings
9.2.1.1. Residential
9.2.1.2. Commercial
9.2.1.3. Warehouse
9.2.2. Industrial
9.2.2.1. Meat Processing
9.2.2.2. Dairy
9.2.2.3. Beverages
9.2.2.4. Others
9.3. Market Analysis, Insights and Forecast – By Country
9.3.1. China
9.3.2. India
9.3.3. Japan
9.3.4. Australia
9.3.5. Southeast Asia
9.3.6. Rest of Asia Pacific
10. Latin America Cold Thermal Energy Storage Market Analysis (USD Million), Insights and Forecast, 2017-2028
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Application
10.2.1. Buildings
10.2.1.1. Residential
10.2.1.2. Commercial
10.2.1.3. Warehouse
10.2.2. Industrial
10.2.2.1. Meat Processing
10.2.2.2. Dairy
10.2.2.3. Beverages
10.2.2.4. Others
10.3. Market Analysis, Insights and Forecast – By Country
10.3.1. Brazil
10.3.2. Mexico
10.3.3. Rest of Latin America
11. Middle East & Africa Electronic Load Market Analysis (USD Million), Insights and Forecast, 2017-2028
11.1. Key Findings / Summary
11.2. Market Analysis, Insights and Forecast – By Application
11.2.1. Buildings
11.2.1.1. Residential
11.2.1.2. Commercial
11.2.1.3. Warehouse
11.2.2. Industrial
11.2.2.1. Meat Processing
11.2.2.2. Dairy
11.2.2.3. Beverages
11.2.2.4. Others
11.3. Market Analysis, Insights and Forecast – By Country
11.3.1. GCC
11.3.2. South Africa
11.3.3. Rest of Middle East & Africa
12. Competitive Analysis
12.1. Company Market Share Analysis, 2020
12.2. Company Profile
12.2.1. CALMAC Technologies
12.2.1.1. Business Overview
12.2.1.2. Product & Service Offering
12.2.1.3. Overall Revenue
12.2.1.4. Recent Development
12.2.2. Baltimore Aircoil Company
12.2.2.1. Business Overview
12.2.2.2. Product & Service Offering
12.2.2.3. Overall Revenue
12.2.2.4. Recent Development
12.2.3. Vogt Ice, LLC
12.2.3.1. Business Overview
12.2.3.2. Product & Service Offering
12.2.3.3. Overall Revenue
12.2.3.4. Recent Development
12.2.4. Nostromo Energy
12.2.4.1. Business Overview
12.2.4.2. Product & Service Offering
12.2.4.3. Overall Revenue
12.2.4.4. Recent Development
12.2.5. BEKA Heiz- und Kühlmatten GmbH
12.2.5.1. Business Overview
12.2.5.2. Product & Service Offering
12.2.5.3. Overall Revenue
12.2.5.4. Recent Development
12.2.6. Trane
12.2.6.1. Business Overview
12.2.6.2. Product & Service Offering
12.2.6.3. Overall Revenue
12.2.6.4. Recent Development
12.2.7. Viking Cold Solutions, Inc.
12.2.7.1. Business Overview
12.2.7.2. Product & Service Offering
12.2.7.3. Overall Revenue
12.2.7.4. Recent Development
12.2.8. NETenergy
12.2.8.1. Business Overview
12.2.8.2. Product & Service Offering
12.2.8.3. Overall Revenue
12.2.8.4. Recent Development
12.2.9. EVAPCO, Inc.
12.2.9.1. Business Overview
12.2.9.2. Product & Service Offering
12.2.9.3. Overall Revenue
12.2.9.4. Recent Development
12.2.10. EnergiVault
12.2.10.1. Business Overview
12.2.10.2. Product & Service Offering
12.2.10.3. Overall Revenue
12.2.10.4. Recent Development
12.2.11. Omega Thermo Products
12.2.11.1. Business Overview
12.2.11.2. Product & Service Offering
12.2.11.3. Overall Revenue
12.2.11.4. Recent Development
12.2.12. Fullwood Packo
12.2.12.1. Business Overview
12.2.12.2. Product & Service Offering
12.2.12.3. Overall Revenue
12.2.12.4. Recent Development
12.2.13. Kilkenny Cooling Systems
12.2.13.1. Business Overview
12.2.13.2. Product & Service Offering
12.2.13.3. Overall Revenue
12.2.13.4. Recent Development

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