What is the projected market valuation of the APAC Thermal Energy Storage Market by 2035?

The projected market valuation for the APAC Thermal Energy Storage Market is 443.89 USD Billion by 2035. Read More

What was the market valuation of the APAC Thermal Energy Storage Market in 2024?

The overall market valuation was 93.59 USD Billion in 2024. Read More

What is the expected CAGR for the APAC Thermal Energy Storage Market during the forecast period 2025 - 2035?

The expected CAGR for the APAC Thermal Energy Storage Market during the forecast period 2025 - 2035 is 15.2%. Read More

Which application segment had the highest valuation in the APAC Thermal Energy Storage Market?

The Power Generation application segment had the highest valuation, reaching 150.0 USD Billion. Read More

What are the key technologies used in the APAC Thermal Energy Storage Market?

Key technologies include Molten Salt, Water Thermal Storage, Phase Change Materials, and Ice Storage. Read More

Which end-use segment is projected to dominate the APAC Thermal Energy Storage Market?

The Industrial end-use segment is projected to dominate, with a valuation of 150.0 USD Billion. Read More

What is the valuation range for the Cooling Systems application segment?

The valuation range for the Cooling Systems application segment is between 28.59 and 123.89 USD Billion. Read More

Who are the leading players in the APAC Thermal Energy Storage Market?

Leading players include ENGIE, Siemens, Samsung C&T, Toshiba, and Mitsubishi Heavy Industries. Read More

What is the valuation range for the Water Thermal Storage technology?

The valuation range for Water Thermal Storage technology is between 25.0 and 120.0 USD Billion. Read More

What is the expected market trend for the APAC Thermal Energy Storage Market in the coming years?

The market is expected to grow significantly, driven by increasing demand for energy efficiency and sustainability. Read More

APAC Thermal Energy Storage Market

ID: MRFR/EnP/53835-HCR

200 Pages

MRFR Team

Last Updated: April 22, 2026

APAC 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 (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC)- Forecast to 2035

APAC Thermal Energy Storage Market

Market Size

Forecast Period2025 - 2035

CAGR (2025 - 2035)15.2%

2024 Market Size$ 93.59 Billion

2025 Market Size$ 107.81 Billion

2035 Market Size$ 443.89 Billion

Key Players

ENGIE

Siemens

Samsung C&T

Toshiba

Mitsubishi Heavy Industries

Veolia

Trends

Rising Demand for Renewable Integration
Technological Advancements
Government Policies and Incentives

Opportunities

Increasing Energy Security
Urbanization and Population Growth
Corporate Sustainability Initiatives

Summary Table of Contents Segmentation Download PDF

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1 SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS
1. 1.1 EXECUTIVE SUMMARY
  1. 1.1.1 Market Overview
  2. 1.1.2 Key Findings
  3. 1.1.3 Market Segmentation
  4. 1.1.4 Competitive Landscape
  5. 1.1.5 Challenges and Opportunities
  6. 1.1.6 Future Outlook
2 SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE
1. 2.1 MARKET INTRODUCTION
  1. 2.1.1 Definition
  2. 2.1.2 Scope of the study
    1. 2.1.2.1 Research Objective
    2. 2.1.2.2 Assumption
    3. 2.1.2.3 Limitations
2. 2.2 RESEARCH METHODOLOGY
  1. 2.2.1 Overview
  2. 2.2.2 Data Mining
  3. 2.2.3 Secondary Research
  4. 2.2.4 Primary Research
    1. 2.2.4.1 Primary Interviews and Information Gathering Process
    2. 2.2.4.2 Breakdown of Primary Respondents
  5. 2.2.5 Forecasting Model
  6. 2.2.6 Market Size Estimation
    1. 2.2.6.1 Bottom-Up Approach
    2. 2.2.6.2 Top-Down Approach
  7. 2.2.7 Data Triangulation
  8. 2.2.8 Validation
3 SECTION III: QUALITATIVE ANALYSIS
1. 3.1 MARKET DYNAMICS
  1. 3.1.1 Overview
  2. 3.1.2 Drivers
  3. 3.1.3 Restraints
  4. 3.1.4 Opportunities
2. 3.2 MARKET FACTOR ANALYSIS
  1. 3.2.1 Value chain Analysis
  2. 3.2.2 Porter's Five Forces Analysis
    1. 3.2.2.1 Bargaining Power of Suppliers
    2. 3.2.2.2 Bargaining Power of Buyers
    3. 3.2.2.3 Threat of New Entrants
    4. 3.2.2.4 Threat of Substitutes
    5. 3.2.2.5 Intensity of Rivalry
  3. 3.2.3 COVID-19 Impact Analysis
    1. 3.2.3.1 Market Impact Analysis
    2. 3.2.3.2 Regional Impact
    3. 3.2.3.3 Opportunity and Threat Analysis
4 SECTION IV: QUANTITATIVE ANALYSIS
1. 4.1 APAC Thermal Energy Storage Market, BY Application (USD Billion)
  1. 4.1.1 District Heating
  2. 4.1.2 Industrial Processes
  3. 4.1.3 Power Generation
  4. 4.1.4 Cooling Systems
2. 4.2 APAC Thermal Energy Storage Market, BY Technology (USD Billion)
  1. 4.2.1 Molten Salt
  2. 4.2.2 Water Thermal Storage
  3. 4.2.3 Phase Change Materials
  4. 4.2.4 Ice Storage
3. 4.3 APAC Thermal Energy Storage Market, BY End Use (USD Billion)
  1. 4.3.1 Residential
  2. 4.3.2 Commercial
  3. 4.3.3 Industrial
  4. 4.3.4 Utility
4. 4.4 APAC Thermal Energy Storage Market, BY Storage Duration (USD Billion)
  1. 4.4.1 Short Term
  2. 4.4.2 Medium Term
  3. 4.4.3 Long Term
  4. 4.4.4 Seasonal
5 SECTION V: COMPETITIVE ANALYSIS
1. 5.1 Competitive Landscape
  1. 5.1.1 Overview
  2. 5.1.2 Competitive Analysis
  3. 5.1.3 Market share Analysis
  4. 5.1.4 Major Growth Strategy in the APAC Thermal Energy Storage Market
  5. 5.1.5 Competitive Benchmarking
  6. 5.1.6 Leading Players in Terms of Number of Developments in the APAC Thermal Energy Storage Market
  7. 5.1.7 Key developments and growth strategies
    1. 5.1.7.1 New Product Launch/Service Deployment
    2. 5.1.7.2 Merger & Acquisitions
    3. 5.1.7.3 Joint Ventures
  8. 5.1.8 Major Players Financial Matrix
    1. 5.1.8.1 Sales and Operating Income
    2. 5.1.8.2 Major Players R&D Expenditure. 2023
2. 5.2 Company Profiles
  1. 5.2.1 ENGIE (FR)
    1. 5.2.1.1 Financial Overview
    2. 5.2.1.2 Products Offered
    3. 5.2.1.3 Key Developments
    4. 5.2.1.4 SWOT Analysis
    5. 5.2.1.5 Key Strategies
  2. 5.2.2 Siemens (DE)
    1. 5.2.2.1 Financial Overview
    2. 5.2.2.2 Products Offered
    3. 5.2.2.3 Key Developments
    4. 5.2.2.4 SWOT Analysis
    5. 5.2.2.5 Key Strategies
  3. 5.2.3 Samsung C&T (KR)
    1. 5.2.3.1 Financial Overview
    2. 5.2.3.2 Products Offered
    3. 5.2.3.3 Key Developments
    4. 5.2.3.4 SWOT Analysis
    5. 5.2.3.5 Key Strategies
  4. 5.2.4 Toshiba (JP)
    1. 5.2.4.1 Financial Overview
    2. 5.2.4.2 Products Offered
    3. 5.2.4.3 Key Developments
    4. 5.2.4.4 SWOT Analysis
    5. 5.2.4.5 Key Strategies
  5. 5.2.5 Mitsubishi Heavy Industries (JP)
    1. 5.2.5.1 Financial Overview
    2. 5.2.5.2 Products Offered
    3. 5.2.5.3 Key Developments
    4. 5.2.5.4 SWOT Analysis
    5. 5.2.5.5 Key Strategies
  6. 5.2.6 Veolia (FR)
    1. 5.2.6.1 Financial Overview
    2. 5.2.6.2 Products Offered
    3. 5.2.6.3 Key Developments
    4. 5.2.6.4 SWOT Analysis
    5. 5.2.6.5 Key Strategies
  7. 5.2.7 Sungrow Power Supply (CN)
    1. 5.2.7.1 Financial Overview
    2. 5.2.7.2 Products Offered
    3. 5.2.7.3 Key Developments
    4. 5.2.7.4 SWOT Analysis
    5. 5.2.7.5 Key Strategies
  8. 5.2.8 Azelio (SE)
    1. 5.2.8.1 Financial Overview
    2. 5.2.8.2 Products Offered
    3. 5.2.8.3 Key Developments
    4. 5.2.8.4 SWOT Analysis
    5. 5.2.8.5 Key Strategies
  9. 5.2.9 Mann+Hummel (DE)
    1. 5.2.9.1 Financial Overview
    2. 5.2.9.2 Products Offered
    3. 5.2.9.3 Key Developments
    4. 5.2.9.4 SWOT Analysis
    5. 5.2.9.5 Key Strategies
3. 5.3 Appendix
  1. 5.3.1 References
  2. 5.3.2 Related Reports
6 LIST OF FIGURES
1. 6.1 MARKET SYNOPSIS
2. 6.2 APAC MARKET ANALYSIS BY APPLICATION
3. 6.3 APAC MARKET ANALYSIS BY TECHNOLOGY
4. 6.4 APAC MARKET ANALYSIS BY END USE
5. 6.5 APAC MARKET ANALYSIS BY STORAGE DURATION
6. 6.6 KEY BUYING CRITERIA OF APAC THERMAL ENERGY STORAGE MARKET
7. 6.7 RESEARCH PROCESS OF MRFR
8. 6.8 DRO ANALYSIS OF APAC THERMAL ENERGY STORAGE MARKET
9. 6.9 DRIVERS IMPACT ANALYSIS: APAC THERMAL ENERGY STORAGE MARKET
10. 6.10 RESTRAINTS IMPACT ANALYSIS: APAC THERMAL ENERGY STORAGE MARKET
11. 6.11 SUPPLY / VALUE CHAIN: APAC THERMAL ENERGY STORAGE MARKET
12. 6.12 APAC THERMAL ENERGY STORAGE MARKET, BY APPLICATION, 2024 (% SHARE)
13. 6.13 APAC THERMAL ENERGY STORAGE MARKET, BY APPLICATION, 2024 TO 2035 (USD Billion)
14. 6.14 APAC THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2024 (% SHARE)
15. 6.15 APAC THERMAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2024 TO 2035 (USD Billion)
16. 6.16 APAC THERMAL ENERGY STORAGE MARKET, BY END USE, 2024 (% SHARE)
17. 6.17 APAC THERMAL ENERGY STORAGE MARKET, BY END USE, 2024 TO 2035 (USD Billion)
18. 6.18 APAC THERMAL ENERGY STORAGE MARKET, BY STORAGE DURATION, 2024 (% SHARE)
19. 6.19 APAC THERMAL ENERGY STORAGE MARKET, BY STORAGE DURATION, 2024 TO 2035 (USD Billion)
20. 6.20 BENCHMARKING OF MAJOR COMPETITORS
7 LIST OF TABLES
1. 7.1 LIST OF ASSUMPTIONS
7.1.1
1. 7.2 APAC MARKET SIZE ESTIMATES; FORECAST
  1. 7.2.1 BY APPLICATION, 2026-2035 (USD Billion)
  2. 7.2.2 BY TECHNOLOGY, 2026-2035 (USD Billion)
  3. 7.2.3 BY END USE, 2026-2035 (USD Billion)
  4. 7.2.4 BY STORAGE DURATION, 2026-2035 (USD Billion)
2. 7.3 PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
7.3.1
1. 7.4 ACQUISITION/PARTNERSHIP
7.4.1

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APAC Thermal Energy Storage Market Segmentation

APAC Thermal Energy Storage Market By Application (USD Billion, 2022-2035)

District Heating
Industrial Processes
Power Generation
Cooling Systems

APAC Thermal Energy Storage Market By Technology (USD Billion, 2022-2035)

Molten Salt
Water Thermal Storage
Phase Change Materials
Ice Storage

APAC Thermal Energy Storage Market By End Use (USD Billion, 2022-2035)

Residential
Commercial
Industrial
Utility

APAC Thermal Energy Storage Market By Storage Duration (USD Billion, 2022-2035)

Short Term
Medium Term
Long Term
Seasonal

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