Top 10 Companies in the Europe Thermal Energy Battery Market (2026): Market Leaders Powering the Energy Transition

MARKET INSIGHTS

Global thermal energy battery market size was valued at USD 892.4 million in 2024. The market is projected to grow from USD 958.7 million in 2025 to USD 1.89 billion by 2034, exhibiting a CAGR of 7.8% during the forecast period.

Thermal energy batteries are advanced energy storage systems that capture, store, and release thermal energy for industrial, commercial, and residential applications. These systems utilize various technologies including phase change materials (PCMs), molten salts, and thermochemical storage to provide efficient energy management solutions. The market includes encapsulated and unencapsulated thermal battery variants, with phase change thermal batteries currently dominating the technology segment.

The European market is experiencing significant growth driven by the region’s ambitious renewable energy targets and increasing focus on energy efficiency. Germany currently leads with 33% market share, followed by the UK and France. Grid‑scale applications account for 48% of installations, while commercial building applications are growing at 8.6% annually. Key market players are investing heavily in R&D to improve energy density and reduce costs, with recent technological breakthroughs in high‑temperature thermal storage systems showing particular promise for industrial applications.

Europe Thermal Energy Battery Market – View in Detailed Research Report

Top 10 Companies in the Europe Thermal Energy Battery Market (2026)

1. Highview Power

Headquarters: United Kingdom
Key Offering: Cryogenic and phase‑change thermal storage solutions for grid and industrial use

Highview Power has positioned itself at the forefront of thermal storage by combining cryogenic technology with high‑temperature PCM modules. The company’s flagship liquid‑air energy storage plants in Germany and Spain demonstrate the viability of large‑scale, medium‑duration storage that can be integrated with existing renewable portfolios.

Sustainability Initiatives:

• Investment in carbon‑neutral manufacturing processes
• Partnerships with utilities to deploy grid‑scale storage
• Commitment to reduce life‑cycle emissions by 30% by 2030

2. Sunamp Ltd

Headquarters: United Kingdom
Key Offering: Compact PCM‑based residential and commercial thermal batteries

Sunamp’s patented “Solar‑Heat” technology captures excess solar radiation and stores it for later use, delivering up to 40% reduction in heating bills for commercial buildings. The company’s modular approach allows rapid deployment in both new construction and retrofit projects.

Sustainability Initiatives:

• Recycling of PCM materials at end of life
• Collaboration with local governments to support green building certifications
• Target to achieve net‑zero carbon emissions across operations by 2028

3. Vattenfall

Headquarters: Sweden
Key Offering: Grid‑scale PCM and molten‑salt storage for renewable integration

Vattenfall’s extensive portfolio of storage projects in Germany and the UK showcases the company’s ability to combine thermal storage with large‑scale renewable generation. Recent pilots have achieved discharge durations of 8–10 hours, positioning thermal storage as a competitive alternative to pumped hydro.

Sustainability Initiatives:

• Investment in research on high‑temperature salt mixtures
• Integration of storage with district heating networks
• Goal of 100% renewable energy sourcing by 2030

4. Siemens Gamesa Renewable Energy

Headquarters: Spain
Key Offering: Encapsulated PCM modules for utility and industrial applications

Siemens Gamesa has leveraged its wind‑farm expertise to develop thermal storage solutions that can be co‑located with turbines, reducing capital costs and improving overall system efficiency. The company’s recent collaboration with German utilities has accelerated deployment of medium‑duration storage.

Sustainability Initiatives:

• Partnerships with universities to explore advanced materials
• Deployment of carbon‑neutral manufacturing facilities
• Target to cut CO₂ emissions by 45% across the value chain by 2035

5. Celsius Energy

Headquarters: France
Key Offering: High‑temperature PCM and thermochemical storage for industrial processes

Celsius Energy focuses on integrating thermal storage with steel and cement production, capturing waste heat and reducing fossil fuel dependence. Recent pilots in French steel mills have demonstrated a 25% reduction in energy consumption.

Sustainability Initiatives:

• Collaboration with the French Ministry of Energy on decarbonization roadmaps
• Development of low‑cost PCM formulations for large‑scale deployment
• Commitment to achieve carbon neutrality by 2030

6. 1414 Degrees

Headquarters: Australia (operating in Europe)
Key Offering: Thermochemical storage solutions for commercial and industrial use

1414 Degrees has expanded into the European market with its proprietary “Thermal‑Cycle” system, capable of storing and delivering heat for 12 hours. The company’s modular units are suitable for both new and existing buildings.

Sustainability Initiatives:

• Investment in renewable hydrogen integration for thermal storage
• Partnerships with European utilities for pilot projects
• Goal to reduce operational emissions by 50% by 2035

7. Abora Solar

Headquarters: Spain
Key Offering: Solar‑thermal hybrid storage combining PCM and molten salt

Abora Solar’s hybrid approach allows simultaneous capture of solar heat and conversion to electricity, providing a flexible solution for commercial districts. The company’s projects in Madrid have shown a 30% increase in renewable energy utilization.

Sustainability Initiatives:

• Collaboration with local municipalities to enhance district heating networks
• Use of recycled materials in PCM manufacturing
• Target to achieve net‑zero operations by 2030

8. Phase Change Material Products Ltd

Headquarters: United Kingdom
Key Offering: Encapsulated PCM modules for residential and commercial applications

Phase Change Material Products Ltd specializes in high‑performance PCMs that maintain stable temperatures over extended periods. Their products are widely adopted in UK commercial buildings, delivering significant energy savings.

Sustainability Initiatives:

• Development of bio‑based PCM formulations
• Partnership with the UK Green Building Council to certify energy‑efficient installations
• Goal to reduce carbon footprint of manufacturing by 40% by 2030

9. Storing Energy

Headquarters: Spain
Key Offering: Thermochemical and PCM storage solutions for industrial and grid use

Storing Energy’s modular systems are designed for rapid deployment in industrial parks, providing both heat and power for process optimization. The company’s recent pilot in Barcelona achieved a 15% reduction in operational costs.

Sustainability Initiatives:

• Integration of waste heat recovery into storage systems
• Collaboration with Spanish utilities to expand grid‑scale projects
• Target to cut lifecycle emissions by 35% by 2035

10. Azteq Solar

Headquarters: South Africa (active in Europe)
Key Offering: Solar‑thermal hybrid storage using PCM and molten salt

Azteq Solar has introduced a hybrid platform that captures solar heat and stores it for later use, providing a reliable source of renewable energy for commercial facilities. The company’s projects in Italy have demonstrated a 20% increase in renewable energy contribution.

Sustainability Initiatives:

• Partnerships with European research institutes to develop next‑generation PCMs
• Use of renewable hydrogen to power storage systems
• Goal to achieve net‑zero emissions across all operations by 2030

Download FREE Sample Report: Europe Thermal Energy Battery Market – View in Detailed Research Report

Get Full Report Here: Europe Thermal Energy Battery Market – View in Detailed Research Report

OUTLOOK

The next decade will see thermal energy batteries cement their role as a cornerstone of the European energy transition. With grid‑scale projects reaching 48% of installations and commercial buildings driving 8.6% annual growth, the sector is poised to deliver robust value to utilities, industrial users, and property owners alike. Continued investment in high‑temperature materials and AI‑driven thermal management will sharpen competitive advantages and open new revenue streams.

FUTURE TRENDS

• Expansion of long‑duration storage to support seasonal energy balancing
• Integration of thermal storage with electric vehicle charging infrastructure
• Adoption of bio‑based PCMs to enhance sustainability credentials
• Increased collaboration between utilities and startups to accelerate deployment
• Emerging policy incentives under the EU Carbon Border Adjustment Mechanism (CBAM) targeting low‑carbon storage solutions