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UK Thermal Energy Storage Market
ID: MRFR/EnP/53827-HCR
200 Pages
June 2025
UK 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) andBy Material Used (Concrete, Steel, Natural Materials, Composite Materials)- Forecast to 2035
Industry Developments
The UK Thermal Energy Storage Market has been experiencing significant developments recently, with major players like Siemens, Vattenfall, and SSE actively involved in expanding their capabilities. For instance, Vattenfall announced plans in September 2023 to invest in battery storage projects across the UK, aiming to enhance energy resilience and support grid stability. Meanwhile, Fluence has been scaling its operations, as indicated by their strategic collaborations reported in August 2023 to optimize energy storage solutions for renewable integration. Mergers and acquisitions have also shaped the landscape, such as Shell’s acquisition of a stake in a thermal energy storage project in October 2023, which bolstered their renewable energy portfolio. The growth in the sector, with valuations rising due to increasing investments and technological advancements, reflects a strong demand for solutions that enable energy flexibility and carbon reduction in line with government climate targets. In recent years, noteworthy projects like the E.ON’s thermal storage facility launched in June 2022 and Innogy's innovative developments in battery storage have further underscored the UK’s commitment to advancing its energy storage capabilities in pursuit of a sustainable energy future.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 285.6(USD Million) |
| MARKET SIZE 2024 | 309.0(USD Million) |
| MARKET SIZE 2035 | 623.0(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 6.582% (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 Million |
| KEY COMPANIES PROFILED | Siemens, Vattenfall, Duke Energy, RWE, SSE, Innogy, Scottish Power, Fluence, EDF Energy, Aquila Capital, Brookfield Renewable Partners, E.ON, Engie, Ceres Media, Shell |
| SEGMENTS COVERED | Technology, Storage Capacity, Application, Material Used |
| KEY MARKET OPPORTUNITIES | Decarbonization initiatives, Renewable energy integration, Government incentives and funding, Industrial applications expansion, Smart grid technology advancements |
| KEY MARKET DYNAMICS | growing renewable energy adoption, government incentives and regulations, increasing energy storage demand, technological advancements in storage, rising electricity prices |
| COUNTRIES COVERED | UK |
FAQs
What is the expected market size of the UK Thermal Energy Storage Market in 2024?
The UK Thermal Energy Storage Market is expected to be valued at 309.0 USD Million in 2024.
What is the projected market size of the UK Thermal Energy Storage Market by the year 2035?
By 2035, the overall market size of the UK Thermal Energy Storage Market is projected to reach 623.0 USD Million.
What is the expected compound annual growth rate (CAGR) of the UK Thermal Energy Storage Market from 2025 to 2035?
The expected CAGR for the UK Thermal Energy Storage Market from 2025 to 2035 is 6.582%.
Which technology segment is expected to have the highest market value in 2035?
The Molten Salt Storage technology segment is expected to reach 186.0 USD Million in market value by 2035.
How much is the Water Thermal Storage segment expected to be valued at in 2035?
The Water Thermal Storage segment is projected to be valued at 160.0 USD Million in 2035.
What are the key players in the UK Thermal Energy Storage Market?
Major players in the market include Siemens, Vattenfall, Duke Energy, RWE, and SSE.
What is the expected market value of Phase Change Materials in 2024?
The Phase Change Materials segment is expected to be valued at 75.0 USD Million in 2024.
What is the expected market value of Ice Storage in 2035?
By 2035, the Ice Storage segment is expected to be valued at 128.0 USD Million.
What challenges are currently facing the UK Thermal Energy Storage Market?
Challenges in the market include regulatory hurdles and the need for significant initial investments.
What opportunities exist in the UK Thermal Energy Storage Market?
Opportunities include the growing demand for renewable energy integration and advancements in storage technologies.
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