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South & Central America Thermal Energy Storage Market Forecast to 2030 – Regional Analysis – by Technology (Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage), Storage Material (Water, Molten Salt, PCM, Others), Application (Power Generation, Process Heating and Cooling, District Heating and Cooling), and End User (Utility, Nonutility)

January 2024 | 71 pages | ID: S7BB551E0675EN
The Insight Partners

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The South & Central America thermal energy storage market is expected to grow from US$ 1,630.37 million in 2022 to US$ 3,851.69 million by 2030. It is estimated to grow at a CAGR of 11.3% from 2022 to 2030.

Application of thermal energy storage technology in the defense sector Fuels South & Central America Thermal Energy Storage Market

Defense applications impose a set of challenges on the usage of energy storage infrastructure. A stable, reliable, and steady power supply is important in defense applications. Phase change materials (PCM) are one of the most promising technologies in thermal energy storage. PCMs are being significantly employed and researched for enhancing thermal performance of buildings by stabilizing temperature peaks as well as power-saving functions where heating or cooling is essential. The exclusive features of a PCM-based latent heat storage system can be used in lightweight prefabricated PUF (polyurethane foam) insulated shelters leveraged by security forces to upsurge the system’s thermal resistance or used in the process of storing surplus heat from sporadic renewable sources during daytime for usage at night. These features primarily help in maintaining a comfortable temperature inside the shelters. Governments of various countries are launching several research and development projects in the field of PCM applications to meet the problems of extreme temperatures met by armed forces: for example, high-capacity heat sinks for critical instruments and hot jackets for high-altitude areas. Thus, the rise in the application of thermal energy storage technology in the defense sector is likely to create lucrative opportunities for the thermal energy storage market growth during the forecast period.

South & Central America Thermal Energy Storage Market Overview

In South & Central America, Brazil and Argentina are the major countries in terms of thermal energy storage. Brazil dominates the thermal storage market in the region, followed by Argentina. The increasing energy demand from the residential, industrial, and commercial sectors, along with the rising renewable energy drive, is positively influencing the need for thermal energy storage in countries in South & Central America. Changing energy domain scenarios and growing approach toward energy security are anticipated to boost the thermal energy storage demand across the region in the coming years. Brazil is leading the market for thermal energy storage and is anticipated to remain the same in the coming years. The growing focus on increasing the share of renewables in the overall energy mix and aiming toward achieving net zero carbon emission targets are a few driving factors for the thermal energy storage market. At COP26, Brazil declared its long-term goal to achieve net-zero emissions by 2050 and a 50% carbon emissions reduction plan by 2030. Energy policy in Brazil mainly highlights renewable energy generation, specifically in transportation and electricity sectors. The country is still implementing and initiating plans, policies, and mandates to achieve a sustainable approach toward climate change and working toward influencing the end users for opting renewables instead of conventional energy sources. Increased demand for storing the energy produced from renewable sources for use in the time of requirement and cost-efficient approaches for storage are boosting the growth of the thermal energy storage market in Brazil.

South & Central America Thermal Energy Storage Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Thermal Energy Storage Market Segmentation

The South & Central America thermal energy storage market is segmented into technology, storage material, application, end user, and country .

Based on technology , the South & Central America thermal energy storage market is segmented into sensible heat storage, latent heat storage, and thermochemical storage. The sensible heat storage segment held the largest share of the South & Central America thermal energy storage market in 2022.

Based on storage material , the South & Central America thermal energy storage market is segmented into water, molten salt, PCM, and others . The water segment held the largest share of the South & Central America thermal energy storage market in 2022.

Based on application , the South & Central America thermal energy storage market is segmented into power generation, process heating and cooling, and district heating and cooling . The district heating and cooling segment held the largest share of the South & Central America thermal energy storage market in 2022.

Based on end user, the South & Central America thermal energy storage market is segmented into utility and nonutility . The utility segment held a larger share of the South & Central America thermal energy storage market in 2022.

Based on country, the South & Central America thermal energy storage market is segmented int o Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America thermal energy storage market in 2022.

Baltimore Aircoil Co, Burns & McDonnell Consultants Inc, Evapco Inc, and MAN Energy Solutions SE are some of the leading companies operating in the South & Central America thermal energy storage market.
1. INTRODUCTION

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET LANDSCAPE

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis

5. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET - KEY INDUSTRY DYNAMICS

5.1 South & Central America Thermal Energy Storage Market - Key Industry Dynamics
5.2 Market Drivers
  5.2.1 Rising share of renewables
  5.2.2 Growing adoption in Concentrated Solar Plants
  5.2.3 Increasing Applications of Thermal Energy Storage
  5.2.4 Growing Focus on Building Robust Storage Infrastructure
5.3 Market Restraints
  5.3.1 Lack of Technology Readiness Levels
  5.3.2 Uncertainties Associated with Future Energy System Development
5.4 Market Opportunities
  5.4.1 Application of Thermal Energy Storage Technology in Defense Sector
  5.4.2 Deployment of Thermal Energy Storage Technology for Electric Vehicles at Extreme Temperatures
5.5 Future Trends
  5.5.1 Application of AI for Optimization and Control of Thermal Energy Storage Systems
5.6 Impact of Drivers and Restraints:

6. THERMAL ENERGY STORAGE MARKET - SOUTH & CENTRAL AMERICA MARKET ANALYSIS

6.1 South & Central America Thermal Energy Storage Market Revenue (US$ Million), 2022 – 2030
6.2 South & Central America Thermal Energy Storage Market Forecast and Analysis

7. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET ANALYSIS - TECHNOLOGY

7.1 Sensible Heat Storage
  7.1.1 Overview
  7.1.2 Sensible Heat Storage: South & Central America Thermal Energy Storage Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Latent Heat Storage
  7.2.1 Overview
  7.2.2 Latent Heat Storage: South & Central America Thermal Energy Storage Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Thermochemical Storage
  7.3.1 Overview
  7.3.2 Thermochemical Storage: South & Central America Thermal Energy Storage Market Revenue and Forecast to 2030 (US$ Million)

8. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET ANALYSIS – STORAGE MATERIAL

8.1 Water
  8.1.1 Overview
  8.1.2 Water: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Molten Salt
  8.2.1 Overview
  8.2.2 Molten Salt: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Phase Change Material (PCM)
  8.3.1 Overview
  8.3.2 Phase Change Material: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Others
  8.4.1 Overview
  8.4.2 Others: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)

9. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET ANALYSIS – APPLICATION

9.1 Power Generation
  9.1.1 Overview
  9.1.2 Power Generation: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Process Heating and Cooling
  9.2.1 Overview
  9.2.2 Process Heating and Cooling: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)
9.3 District Heating and Cooling
  9.3.1 Overview
  9.3.2 District Heating and Cooling: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)

10. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET ANALYSIS – END USER

10.1 Utility
  10.1.1 Overview
  10.1.2 Utility: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Nonutility
  10.2.1 Overview
  10.2.2 Nonutility: South & Central America Thermal Energy Storage Market Revenue, and Forecast to 2030 (US$ Million)

11. SOUTH & CENTRAL AMERICA THERMAL ENERGY STORAGE MARKET - COUNTRY ANALYSIS

11.1 South & Central America Thermal Energy Storage Market Overview
  11.1.1 South & Central America Thermal Energy Storage Market Revenue and Forecasts and Analysis - By Countries
    11.1.1.1 Brazil: South & Central America Thermal Energy Storage Market Revenue and Forecasts to 2030 (US$ Mn)
      11.1.1.1.1 Brazil: South & Central America Thermal Energy Storage Market Breakdown by Technology
      11.1.1.1.2 Brazil: South & Central America Thermal Energy Storage Market Breakdown by Storage Material
      11.1.1.1.3 Brazil: South & Central America Thermal Energy Storage Market Breakdown by Application
      11.1.1.1.4 Brazil: South & Central America Thermal Energy Storage Market Breakdown by End User
    11.1.1.2 Argentina: South & Central America Thermal Energy Storage Market Revenue and Forecasts to 2030 (US$ Mn)
      11.1.1.2.1 Argentina: South & Central America Thermal Energy Storage Market Breakdown by Technology
      11.1.1.2.2 Argentina: South & Central America Thermal Energy Storage Market Breakdown by Storage Material
      11.1.1.2.3 Argentina: South & Central America Thermal Energy Storage Market Breakdown by Application
      11.1.1.2.4 Argentina: South & Central America Thermal Energy Storage Market Breakdown by End User
    11.1.1.3 Rest of SAM: South & Central America Thermal Energy Storage Market Revenue and Forecasts to 2030 (US$ Mn)
      11.1.1.3.1 Rest of SAM: South & Central America Thermal Energy Storage Market Breakdown by Technology
      11.1.1.3.2 Rest of SAM: South & Central America Thermal Energy Storage Market Breakdown by Storage Material
      11.1.1.3.3 Rest of SAM: South & Central America Thermal Energy Storage Market Breakdown by Application
      11.1.1.3.4 Rest of SAM: South & Central America Thermal Energy Storage Market Breakdown by End User

12. INDUSTRY LANDSCAPE

12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition

13. COMPANY PROFILES

13.1 Evapco Inc
  13.1.1 Key Facts
  13.1.2 Business Description
  13.1.3 Products and Services
  13.1.4 Financial Overview
  13.1.5 SWOT Analysis
  13.1.6 Key Developments
13.2 Baltimore Aircoil Co
  13.2.1 Key Facts
  13.2.2 Business Description
  13.2.3 Products and Services
  13.2.4 Financial Overview
  13.2.5 SWOT Analysis
  13.2.6 Key Developments
13.3 Sunamp Ltd
  13.3.1 Key Facts
  13.3.2 Business Description
  13.3.3 Products and Services
  13.3.4 Financial Overview
  13.3.5 SWOT Analysis
  13.3.6 Key Developments
13.4 MAN Energy Solutions SE
  13.4.1 Key Facts
  13.4.2 Business Description
  13.4.3 Products and Services
  13.4.4 Financial Overview
  13.4.5 SWOT Analysis
  13.4.6 Key Developments

14. APPENDIX

14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES

Table 1. South & Central America Thermal Energy Storage Market Segmentation
Table 2. South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million) – Technology
Table 4. South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million) – Storage Material
Table 5. South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 6. South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million) – End User
Table 7. South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 8. Brazil: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 9. Brazil: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Storage Material
Table 10. Brazil: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 11. Brazil: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 12. Argentina: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 13. Argentina: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Storage Material
Table 14. Argentina: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 15. Argentina: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 16. Rest of SAM: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 17. Rest of SAM: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Storage Material
Table 18. Rest of SAM: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 19. Rest of SAM: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 20. @LIST OF Abbreviation

LIST OF FIGURES

Figure 1. South & Central America Thermal Energy Storage Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: South & Central America Thermal Energy Storage Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. South & Central America Thermal Energy Storage Market Revenue (US$ Million), 2022 – 2030
Figure 6. South & Central America Thermal Energy Storage Market Share (%) – Technology, 2022 and 2030
Figure 7. Sensible Heat Storage: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Latent Heat Storage: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Thermochemical Storage: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. South & Central America Thermal Energy Storage Market Share (%) – Storage Material, 2022 and 2030
Figure 11. Water: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Molten Salt: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Phase Change Material: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Others: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. South & Central America Thermal Energy Storage Market Share (%) – Application, 2022 and 2030
Figure 16. Power Generation: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Process Heating and Cooling: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. District Heating and Cooling: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. South & Central America Thermal Energy Storage Market Share (%) – End User, 2022 and 2030
Figure 20. Utility: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Nonutility: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. South & Central America Thermal Energy Storage Market, By Key Country – Revenue (2022) (US$ Million)
Figure 23. South & Central America Thermal Energy Storage Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. Brazil: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Argentina: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Rest of SAM: South & Central America Thermal Energy Storage Market Revenue and Forecasts To 2030 (US$ Mn)


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