Market Overview:
The Global ETES (Electric Thermal Energy Storage) System Market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy storage systems owing to the growing need for grid stability and renewable integration. In addition, the increasing focus on climate change mitigation is also driving the market growth. The global ETES (electric thermal energy storage) system market can be segmented on the basis of type, application, and region. On the basis of type, small capacity (130MWh) segments can be considered. On the basis of application, industrial, agriculture institutions school municipal segments can be considered.
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Product Definition:
Electric Thermal Energy Storage (ETES) system is an energy storage technology that uses electrical energy to store thermal energy. The ETES system consists of two main parts: the electrical part and the thermal part. In the electrical part, electricity is used to heat a thermal storage medium, such as molten salt. The heated thermal storage medium is then transferred to the thermal part, where it transfers its heat to a process or load that needs heating.
Small Capacity (Less Than 30MWh):
Small capacity (less than 30MWh) is the most preferred battery size among various end-use industries such as grid storage, electric vehicles, and off-grid storage. The growth of these markets has been driving the small capacity batteries market over the past few years. Smaller batteries have lower production costs and also facilitate easy installation in any equipment or device.
Medium Capacity (30-130MWh):
Medium capacity (30-130MWh) is the range of batteries used in Electric Thermal Energy Storage (ETES) system. It stores thermal energy generated from power plant, which can be later used to generate electricity when needed. ETES systems are gaining importance as they provide backup power for grid stabilizers and other electrical equipment during outages or emergencies.
Application Insights:
The market is segmented by application into industrial, agriculture, institutions, school, municipal and others. The industrial sector accounted for the largest share in 2016 owing to the growing demand for power backup during outages and emergencies. It also plays a significant role in providing emergency power supply to hospitals and data centers.
Industrial applications are further categorized into small & large capacity ETES systems based on energy storage requirements. Small-scale ETES (SSETES) provide backup power solutions for individual industries while large-scale SSETES are designed to serve multiple consumers within an area ranging from tens to hundreds of kilometers around the storage facility location.
Regional Analysis:
North America dominated the global market in 2017, with a revenue share of over 35.0%. The growth is attributed to increasing demand for electricity storage from renewable energy sources and growing investments in research & development activities for developing advanced batteries. Furthermore, the presence of key players such as Exelon Corporation; Fluor Corporation; Ameren Corp.; and IKEA Group has led to increased penetration rates across this region.
Asia Pacific is expected to witness significant growth during the forecast period owing to rising demand for electric vehicles along with rapid industrialization and urbanization that requires continuous power supply throughout the day. Moreover, countries such as China are investing heavily in battery-based thermal energy storage systems due to their ability store surplus electricity during peak hours which can be used later when needed at night or during off-peak hours thus reducing overall system cost by 20% compared with conventional generators/batteries combination solutions (ETC).
Growth Factors:
- Increasing demand for electric thermal energy storage systems due to the growing need for energy storage solutions to address the intermittency of renewable energy sources such as solar and wind power.
- The increasing popularity of electric vehicles, which require a reliable and efficient charging infrastructure, is also expected to drive demand for ETES systems.
- Stringent government regulations mandating the use of renewable energy sources are also expected to spur growth in the ETES market over the next few years.
- Growing awareness about the benefits of using ETES systems, such as improved grid reliability and reduced emissions, is also expected to boost market growth in coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
ETES (Electric Thermal Energy Storage) System Market Research Report
By Type
Small Capacity (Less Than 30MWh), Medium Capacity (30-130MWh), Large Capacity (More Than 130MWh)
By Application
Industrial, Agriculture, Institutions, School, Municipal
By Companies
Siemens Gamesa, MAN Energy Solutions, Echogen
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global ETES (Electric Thermal Energy Storage) System Market Report Segments:
The global ETES (Electric Thermal Energy Storage) System market is segmented on the basis of:
Types
Small Capacity (Less Than 30MWh), Medium Capacity (30-130MWh), Large Capacity (More Than 130MWh)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial, Agriculture, Institutions, School, Municipal
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Siemens Gamesa
- MAN Energy Solutions
- Echogen
 System Market Overview.svg)
Highlights of The ETES (Electric Thermal Energy Storage) System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Small Capacity (Less Than 30MWh)
- Medium Capacity (30-130MWh)
- Large Capacity (More Than 130MWh)
- By Application:
- Industrial
- Agriculture
- Institutions
- School
- Municipal
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the ETES (Electric Thermal Energy Storage) System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
ETES (Electric Thermal Energy Storage) system is a type of energy storage that uses electric heat to store thermal energy. When needed, the stored thermal energy can be used to generate electricity.
Some of the major players in the etes (electric thermal energy storage) system market are Siemens Gamesa, MAN Energy Solutions, Echogen.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 ETES (Electric Thermal Energy Storage) System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 ETES (Electric Thermal Energy Storage) System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 ETES (Electric Thermal Energy Storage) System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the ETES (Electric Thermal Energy Storage) System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global ETES (Electric Thermal Energy Storage) System Market Size & Forecast, 2018-2028
4.5.1 ETES (Electric Thermal Energy Storage) System Market Size and Y-o-Y Growth
4.5.2 ETES (Electric Thermal Energy Storage) System Market Absolute $ Opportunity
Chapter 5 Global ETES (Electric Thermal Energy Storage) System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 ETES (Electric Thermal Energy Storage) System Market Size Forecast by Type
5.2.1 Small Capacity (Less Than 30MWh)
5.2.2 Medium Capacity (30-130MWh)
5.2.3 Large Capacity (More Than 130MWh)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global ETES (Electric Thermal Energy Storage) System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 ETES (Electric Thermal Energy Storage) System Market Size Forecast by Applications
6.2.1 Industrial
6.2.2 Agriculture
6.2.3 Institutions
6.2.4 School
6.2.5 Municipal
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global ETES (Electric Thermal Energy Storage) System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 ETES (Electric Thermal Energy Storage) System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America ETES (Electric Thermal Energy Storage) System Analysis and Forecast
9.1 Introduction
9.2 North America ETES (Electric Thermal Energy Storage) System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America ETES (Electric Thermal Energy Storage) System Market Size Forecast by Type
9.6.1 Small Capacity (Less Than 30MWh)
9.6.2 Medium Capacity (30-130MWh)
9.6.3 Large Capacity (More Than 130MWh)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America ETES (Electric Thermal Energy Storage) System Market Size Forecast by Applications
9.10.1 Industrial
9.10.2 Agriculture
9.10.3 Institutions
9.10.4 School
9.10.5 Municipal
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe ETES (Electric Thermal Energy Storage) System Analysis and Forecast
10.1 Introduction
10.2 Europe ETES (Electric Thermal Energy Storage) System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe ETES (Electric Thermal Energy Storage) System Market Size Forecast by Type
10.6.1 Small Capacity (Less Than 30MWh)
10.6.2 Medium Capacity (30-130MWh)
10.6.3 Large Capacity (More Than 130MWh)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe ETES (Electric Thermal Energy Storage) System Market Size Forecast by Applications
10.10.1 Industrial
10.10.2 Agriculture
10.10.3 Institutions
10.10.4 School
10.10.5 Municipal
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific ETES (Electric Thermal Energy Storage) System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific ETES (Electric Thermal Energy Storage) System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific ETES (Electric Thermal Energy Storage) System Market Size Forecast by Type
11.6.1 Small Capacity (Less Than 30MWh)
11.6.2 Medium Capacity (30-130MWh)
11.6.3 Large Capacity (More Than 130MWh)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific ETES (Electric Thermal Energy Storage) System Market Size Forecast by Applications
11.10.1 Industrial
11.10.2 Agriculture
11.10.3 Institutions
11.10.4 School
11.10.5 Municipal
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America ETES (Electric Thermal Energy Storage) System Analysis and Forecast
12.1 Introduction
12.2 Latin America ETES (Electric Thermal Energy Storage) System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America ETES (Electric Thermal Energy Storage) System Market Size Forecast by Type
12.6.1 Small Capacity (Less Than 30MWh)
12.6.2 Medium Capacity (30-130MWh)
12.6.3 Large Capacity (More Than 130MWh)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America ETES (Electric Thermal Energy Storage) System Market Size Forecast by Applications
12.10.1 Industrial
12.10.2 Agriculture
12.10.3 Institutions
12.10.4 School
12.10.5 Municipal
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) ETES (Electric Thermal Energy Storage) System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) ETES (Electric Thermal Energy Storage) System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) ETES (Electric Thermal Energy Storage) System Market Size Forecast by Type
13.6.1 Small Capacity (Less Than 30MWh)
13.6.2 Medium Capacity (30-130MWh)
13.6.3 Large Capacity (More Than 130MWh)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) ETES (Electric Thermal Energy Storage) System Market Size Forecast by Applications
13.10.1 Industrial
13.10.2 Agriculture
13.10.3 Institutions
13.10.4 School
13.10.5 Municipal
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 ETES (Electric Thermal Energy Storage) System Market: Competitive Dashboard
14.2 Global ETES (Electric Thermal Energy Storage) System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Siemens Gamesa
14.3.2 MAN Energy Solutions
14.3.3 Echogen
