Who are the key players in North America Thermal Energy Storage Market industry?

The top five players in the North America Thermal Energy Storage Market are Calmac (Trane Technologies), BrightSource Energy, EnergyNest, Burns & McDonnell, and Baltimore Aircoil Company. These companies provide advanced thermal storage technologies and solutions, driving innovation through large-scale projects, and expanding their market presence across multiple industrial and utility-scale applications.

What is the North America Thermal Energy Storage Market growth?

The North America Thermal Energy Storage market is experiencing significant growth, witnessing a CAGR of over 8% from 2022 to 2027. Companies such as Trane Technologies have recently reported increased adoption of thermal storage systems, accelerated by rising renewable integration and demand-side management initiatives.

Which segment accounted for the largest North America Thermal Energy Storage Market share?

The largest market share comes from the power generation application segment. Thermal energy storage is crucial in balancing energy supply and demand for utility companies, allowing renewable sources to be dispatched efficiently. Projects by BrightSource Energy exemplify how storage in power generation ensures grid stability and peak load management.

What are the factors driving the North America Thermal Energy Storage Market?

Key drivers include the growing emphasis on grid reliability, renewable energy integration, and stringent emissions regulations. Trane Technologies, for example, is capitalizing on increased demand for energy efficiency in commercial buildings, offering solutions that lower operational costs while supporting the transition away from fossil fuels.

Which type accounted for the largest North America Thermal Energy Storage Market share?

The sensible heat storage type holds the largest market share, largely due to the widespread application of water- and molten salt-based systems for large-scale energy storage. Sensible heat storage is widely chosen for its operational simplicity and has been successfully implemented in district cooling and utility-scale projects.

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North America Thermal Energy Storage Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)

North America Thermal Energy Storage Market: by Type (Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage), Application (Power Generation, Heating & Cooling, Process Heating, District Heating & Cooling, Ice Storage, Others), Distribution Channels (Direct Sales, Distributors/Wholesalers, Online, EPC Contractors, OEMs, Others), Technology (Molten Salt, Chilled Water, Ice-based, Phase Change Materials, Miscibility Gap Alloys, Others), Organization Size (Small, Medium, Large) and By North America Historical & Forecast Period (2020-2035) Comprehensive Study 2025

Last Updated: 23-07-2025 | Format: PDF | Report ID:10750

Market Segmentation

Metrics	Details
Years	2020-2035
Base Year	2025
Market Size	Revenue (USD Million)
Regions	United States, Canada, Mexico
Segments	By Type (Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage, Ice Thermal Storage, Molten Salt Storage, Miscibility Gap Alloy Storage), By Application (Power Generation, Heating & Cooling, Process Heating, District Heating & Cooling, Ice Storage, Others)
Players	CALMAC (Trane Technologies), Burns & McDonnell, Chicago Bridge & Iron Company (McDermott International), Abengoa Solar, BrightSource Energy, Siemens Energy, FAFCO, Ice Energy, SolarReserve, DN Tanks, Baltimore Aircoil Company, Steffes Corporation, Terrafore Technologies, Evapco, Caledonian Piping Corporation

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Key Questions Answered

»What is the market size and growth rate of the global and regional market by various segments?
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»Which company accounted for the highest market share?

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Study period:

2020-2035

Base year:

2026

Historical data

2020-2024

NO OF PAGE:

167

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Market Segmentation

Metrics	Details
Years	2020-2035
Base Year	2025
Market Size	Revenue (USD Million)
Regions	United States, Canada, Mexico
Segments	By Type (Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage, Ice Thermal Storage, Molten Salt Storage, Miscibility Gap Alloy Storage), By Application (Power Generation, Heating & Cooling, Process Heating, District Heating & Cooling, Ice Storage, Others)
Players	CALMAC (Trane Technologies), Burns & McDonnell, Chicago Bridge & Iron Company (McDermott International), Abengoa Solar, BrightSource Energy, Siemens Energy, FAFCO, Ice Energy, SolarReserve, DN Tanks, Baltimore Aircoil Company, Steffes Corporation, Terrafore Technologies, Evapco, Caledonian Piping Corporation