Energy Storing Concrete Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of Energy storing concrete market was valued at USD 1.2 billion in 2022, and a CAGR of 18.2% is expected during the forecast period. The rising demand for renewable energy solutions is driving growth in the market significantly. Growing consciousness towards energy efficient solutions is fostering growth in the market. The prospect of reducing reliance on traditional power grids is driving the growth in the market significantly.

The increasing number of smart cities projects is boosting the demand in the market. Building, infrastructure, and renewable energy are driving the growth in the market significantly. Increasing demand for thermal energy storing, mechanical energy storing, and electrical energy storing is driving growth in the market. Rapid industrialization and urbanization are boosting the market growth.

Impact of Covid-19

Covid-19 had a negative impact on the Energy storing concrete market significantly, due to disruptions in supply chain, economic uncertainty, and stringent lockdowns, and social distancing. Increasing demand for sustainable construction materials, the integration of renewable energy sources with infrastructure, and the need for energy efficient building solutions to mitigate climate change impacts. Advancements in material science and construction technology are enabling the development of innovative concrete formulations with enhanced energy storing capabilities, further fueling market growth. Increasing adoption of renewable energy sources drives the growth in the market significantly.

Growth Drivers

Growing awareness and emphasis on sustainable construction practices drive the growth in the energy storing concrete market, which offers an eco-friendly alternative to traditional building materials. The shift towards renewable energy sources necessitates the development of energy storing solutions to manage intermittent power generation. Energy-storing concretes provide a means to store excess energy generated from renewables like solar, and wind.

Increasing focus on energy efficient buildings and infrastructure stimulates the adoption of energy-storing concrete, which helps reduce energy consumption and costs by storing and releasing energy as per the need. Rapid urbanization, and infrastructure development worldwide create a significant demand for innovative building materials like energy-storing concrete to meet the growing energy needs of urban areas sustainably.

Ongoing research and development activities drive advancements in concrete technology, leading to the formulation of energy storing concrete with improved performance, and durability. Government policies promoting sustainable construction and renewable energy adoption, along with incentives for energy-efficient building materials, support the growth of the energy storing concrete market. Increasing consumer awareness about the environmental impact of conventional construction materials fuels the demand for energy storing concrete.

Segmentation

Material Type

·         Traditional Concrete

·         High Performance Concrete

·         Special Admixtures

Application

·         Buildings

·         Bridges

·         Roads

·         Pavements

·         Other Infrastructure Projects

Technology

·         Phase Change Materials

·         Kinetic Energy Storage

·         Thermal Energy Storage

Regional Outlook

·         Asia Pacific

·         North America

·         Europe

·         Latin America

·         Middle East and Africa

Energy Storing Concrete Market Technology Segmentation

On the basis of the energy storing concrete market is segmented into phase concrete material, kinetic energy storing, and thermal energy storing. Concrete-based is utilized for both kinetic energy storing, and thermal energy storing in various applications. By spinning at high speeds, concrete-based flywheels do store kinetic energy. This energy is converted back to electricity when needed. Concrete barriers along highways incorporate kinetic energy storing systems to absorb and store energy in the event of a collision enhancing safety. Phase change material stores thermal energy by changing phase like from solid to liquid at specific temperatures. This stored heat is absorbed or released to regulate indoor temperatures in buildings or for the thermal management purpose. Concrete structures underground serve as thermal energy storing reservoirs, absorbing excess heat during the day, and release it at night to maintain a consistent temperature, reducing the need for active heating.

Energy Storing Concrete Market Application Segmentation

On the basis of application, the energy-storing concrete market is segmented into Building, Bridge, Roads, Pavements, and other infrastructure projects. Energy-storing concrete presents innovative opportunities in infrastructure projects like buildings, bridges, roads, and pavements by integrating energy storing capabilities directly into the construction materials. It enhances sustainability, resilience, and efficiency by storing renewable energy, optimizing energy usage, and providing backup power during outages, and it facilitates the integration of smart infrastructure technologies for improved monitoring and management. Energy storing devices are critical in applications in UPS and data centers in China, and India because of this region being prone to frequent power outages. Increasing adoption for renewable energy sources is driving the growth in the market.

Regional Outlook

On the basis of the regions, the Energy storing concrete market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and Middle East and Africa. Pioneering the energy storing concrete market, North America shows concrete growth during the forecast period. USA leads in innovative applications, integrating energy storing capabilities in infrastructure projects, emphasizing sustainability, and enhancing grid reliability. European countries like Germany, and Netherlands are witnessing significant growth in the energy-storing concrete market.

A Asia Pacific region, especially the countries like China, and India, witnesses significant growth in the market due to rapid industrialization, and urbanization. The resilience in infrastructure drives the demand for growth in the market significantly. Innovative construction methods adopted by Saudi Arabia, and UAE are driving the growth in the Energy-storing concrete market. Initiatives taken by countries like Nigeria, and South Africa are driving the growth in the Energy storing concrete market significantly.

Increasing demand for sustainable energy storing solutions, and the adoption of renewable energy sources boost the demand in the market significantly. Supportive government policies and initiatives aimed at promoting sustainable energy storing technologies drive the growth in the market. For investments in the automotive, energy, and biotechnology industry, the central and South America is a promising location. Brazil, Argentina, Peru, Columbia, and Chile, are all important countries in the region. Argentina is anticipated to see a significant slowdown in energy investment as the country emerges from its current recession in the coming year. Countries in the South Asia region are going into a rapid industrialization.

Key Players

·         BASF Coatings Services S.A.

·         Pantheon Enterprises

·         Solidia Technologies

·         Cellcrete technologies

·         Blue Planet Environmental Solutions

·         CarbonCure Technologies

·         Cellcrete Technologies

·         XTreeE, The large-scale 3D

·         Heidelberg Cement India

·         Other Players