Energy Storing Bricks Market Trends

  • Report ID: 3545
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Energy Storing Bricks Market Trends

Growth Drivers

Challenges

  • Lack of Awareness Regarding the Technology

Energy Storing Bricks Market: Key Insights

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Base Year

2024

Forecast Year

2025-2037

CAGR

17.4%

Base Year Market Size (2024)

USD 392.47 million

Forecast Year Market Size (2037)

USD 3.15 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Dhruv Bhatia


  • Report ID: 3545
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of energy storing bricks is estimated at USD 450.52 million.

Energy Storing Bricks Market size was valued at USD 392.47 million in 2024 and is likely to cross USD 3.15 billion by 2037, expanding at more than 17.4% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is set to dominate majority revenue share by 2037, led by growing technological development in the countries, such as, Singapore, Japan, South Korea, and China.

The major players in the market include Energy Vault, Inc, Watt-Tile, Inc., Smart Bricks, Inc., Pragma Industries, Inc, Powerhouse Energy Group Limited, Eos Energy Storage, Inc., Ambri, Tesla, SolarEdge Technologies, Inc, and ABB.
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