THERMAL ENERGY STORAGE MARKET ANALYSIS

Regional Analysis

Global Thermal Energy Storage Market: Regional Insights

Based on geography, the global thermal energy storage market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regionally, Asia Pacific region is projected to dominate the global thermal energy storage market, as it has a huge population, rapidly developing economies, and extensive infrastructure systems. Furthermore, the rapid growth of the industrial sector in this region will support the thermal energy storage market. Also, increased investment in renewable energy and increasing demand for sustainable and environmentally-friendly products and services are further propelling regional market growth.

North America is expected to witness fastest growth in the near future over the forecast period owing to the presence of favorable policies and regulations in the region coupled with initiatives taken by the end use segments of thermal energy storage market majorly in the U.S. and Canada has driven the market growth in the region. Furthermore, initiatives taken by government to increase the use of clean energy technologies has also resulted to drive thermal energy storage market in the country.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East