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Europe Thermal Energy Storage Market
ID: MRFR/EnP/53833-HCR
200 Pages
June 2025
Europe Thermal Energy Storage Market Research Report: By Technology (Molten Salt Storage, Water Thermal Storage, Phase Change Materials, Ice Storage), By Storage Capacity (Less than 100 MWh, 100-500 MWh, 500-1000 MWh, More than 1000 MWh), By Application (District Heating, Industrial Processes, Concentrated Solar Power, Building Heating and Cooling), By Material Used (Concrete, Steel, Natural Materials, Composite Materials) andBy Regional (Germany, UK, France, Russia, Italy, Spain, Rest of Europe)- Forecast to 2035
Industry Developments
Recent developments in the Europe Thermal Energy Storage Market have been characterized by a growing emphasis on renewable energy integration and innovative storage solutions. Companies such as Aalborg CSP A/S, EnergyNest AS, and Siemens AG are actively enhancing their thermal storage technologies to support peak load management and renewable energy sources like solar and wind. The market has witnessed significant growth in market valuation due to increasing investments and government support for energy transition strategies. In October 2022, Vattenfall AB announced a pivotal partnership to advance large-scale thermal storage systems, aiming to bolster energy resilience in urban areas. Moreover, ENGIE SA has expanded its collaboration with local governments to deploy centralized thermal energy storage solutions catering to district heating needs. Recent mergers and acquisitions include the acquisition of ThermoNet GmbH by Ceres Media AG in January 2023, which is expected to enhance their capabilities in thermal management. In 2021, RWE AG completed the acquisition of a significant stake in EnergyNest AS, reinforcing its commitment to advancing thermal storage technologies. These movements reflect a robust trajectory towards sustainable energy solutions in Europe’s thermal energy sector.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 1.43(USD Billion) |
| MARKET SIZE 2024 | 1.55(USD Billion) |
| MARKET SIZE 2035 | 3.6(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.962% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Aalborg CSP A/S, Vattenfall AB, SaintGobain SA, EnergyNest AS, ENGIE SA, ThermoNet GmbH, Azora Capital, RWE AG, SAVENERGY, Cobra Group, EPCOR Utilities Inc., Sonnen GmbH, Ceres Media AG, Siemens AG |
| SEGMENTS COVERED | Technology, Storage Capacity, Application, Material Used, Regional |
| KEY MARKET OPPORTUNITIES | Growing demand for renewable energy, Government incentives for energy efficiency, Increasing industrial applications, Advancements in storage technologies, Expanding electric vehicle infrastructure |
| KEY MARKET DYNAMICS | growing renewable energy adoption, government incentives and policies, increasing energy storage demand, advancements in storage technology, rising energy efficiency concerns |
| COUNTRIES COVERED | Germany, UK, France, Russia, Italy, Spain, Rest of Europe |
FAQs
What is the expected market size of the Europe Thermal Energy Storage Market in 2024?
The Europe Thermal Energy Storage Market is expected to be valued at 1.55 USD Billion in 2024.
What is the projected market growth for the Europe Thermal Energy Storage Market from 2025 to 2035?
The market is expected to grow at a CAGR of 7.962% from 2025 to 2035.
Which region is expected to dominate the Europe Thermal Energy Storage Market by 2035?
Germany is expected to have the largest market share, valued at 1.35 USD Billion by 2035.
What is the market size for Water Thermal Storage technology in 2024?
The market for Water Thermal Storage technology is valued at 0.45 USD Billion in 2024.
Which key players are operating in the Europe Thermal Energy Storage Market?
Key players include Aalborg CSP A/S, Vattenfall AB, SaintGobain SA, EnergyNest AS, and ENGIE SA.
What will be the market size for Ice Storage technology by 2035?
The market size for Ice Storage technology is expected to reach 0.5 USD Billion by 2035.
How much is the Phase Change Materials segment expected to grow by 2035?
The Phase Change Materials segment is projected to grow to 0.6 USD Billion by 2035.
What is the market size for the UK in the Europe Thermal Energy Storage Market in 2024?
The market size for the UK is expected to be 0.35 USD Billion in 2024.
What are the expected applications driving growth in the Europe Thermal Energy Storage Market?
Key applications include renewable energy integration, district heating, and energy-efficient buildings.
What is the projected market value for Molten Salt Storage technology by 2035?
The Molten Salt Storage technology is expected to reach a market value of 1.5 USD Billion by 2035.
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