The global Thermal Battery market size is estimated to be $92 million in 2023, and Market IntelliX analysts predict it will reach $164 million by 2031, growing at a CAGR of 7.5% during the forecast period from 2023 to 2031.

This report studies the Thermal Battery market, covering market size for segment by type (Phase Change Thermal Batteries, Encapsulated Thermal Batteries, etc.), by application (Aerospace & Aviation, Military & Defense, etc.), by sales channel (Direct Channel, Distribution Channel), by player (EnerSys, ASB GROUP, Missiles & Space Batteries, EaglePicher Technologies, EnergyNest, etc.) and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).

This report provides detailed historical analysis of global market for Thermal Battery from 2017-2022, and provides extensive market forecasts from 2023-2031 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the Thermal Battery market.

Leading Players of Thermal Battery including:

EnerSys

ASB GROUP

Missiles & Space Batteries

EaglePicher Technologies

EnergyNest

Advanced Thermal Batteries

DFR Solutions

Tubitak

SINOEV Technologies

Diehl Group

Wuhan JOHO Technologies

Market split by Type:

Phase Change Thermal Batteries

Encapsulated Thermal Batteries

Unencapsulated Thermal Batteries

Others

Market split by Application:

Aerospace & Aviation

Military & Defense

Utilities

Others

Market split by Sales Channel:

Direct Channel

Distribution Channel

Market split by Region/Country:

North America (United States and Canada)

Europe (Germany, UK, France, Italy, Spain, and Russia, etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia, etc.)

South America (Brazil, Mexico, and Argentina, etc.)

Middle East & Africa (Turkey, UAE, Saudi Arabia, and South Africa, etc.)

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Chapter 1 Thermal Battery Market Overview

1.1 Thermal Battery Definition

1.2 Global Thermal Battery Market Size Status and Outlook (2017-2031)

1.3 Global Thermal Battery Market Size Comparison by Region (2017-2031)

1.4 Global Thermal Battery Market Size Comparison by Type (2017-2031)

1.5 Global Thermal Battery Market Size Comparison by Application (2017-2031)

1.6 Global Thermal Battery Market Size Comparison by Sales Channel (2017-2031)

1.7 Thermal Battery Market Dynamics

1.7.1 Market Drivers/Opportunities

1.7.2 Market Challenges/Risks

1.7.3 Market News (Merger/Acquisition/Expansion)

1.7.4 Key Trends in Thermal Battery Market

Chapter 2 Thermal Battery Market Competition by Player

2.1 Global Thermal Battery Sales and Market Share by Player (2020-2022)

2.2 Global Thermal Battery Revenue and Market Share by Player (2020-2022)

2.3 Global Thermal Battery Average Price by Player (2020-2022)

2.4 Players Competition Situation & Trends

2.5 Conclusion of Segment by Player

Chapter 3 Thermal Battery Market Segment by Type

3.1 Global Thermal Battery Market by Type

3.1.1 Phase Change Thermal Batteries

3.1.2 Encapsulated Thermal Batteries

3.1.3 Unencapsulated Thermal Batteries

3.1.4 Others

3.2 Global Thermal Battery Sales and Market Share by Type (2017-2022)

3.3 Global Thermal Battery Revenue and Market Share by Type (2017-2022)

3.4 Global Thermal Battery Average Price by Type (2017-2022)

3.5 Conclusion of Segment by Type

Chapter 4 Thermal Battery Market Segment by Application

4.1 Global Thermal Battery Market by Application

4.1.1 Aerospace & Aviation

4.1.2 Military & Defense

4.1.3 Utilities

4.1.4 Others

4.2 Global Thermal Battery Revenue and Market Share by Application (2017-2022)

4.3 Conclusion of Segment by Application

Chapter 5 Thermal Battery Market Segment by Sales Channel

5.1 Global Thermal Battery Market by Sales Channel

5.1.1 Direct Channel

5.1.2 Distribution Channel

5.2 Global Thermal Battery Revenue and Market Share by Sales Channel (2017-2022)

5.3 Conclusion of Segment by Sales Channel

Chapter 6 Thermal Battery Market Segment by Region & Country

6.1 Global Thermal Battery Market Size and CAGR by Region (2017-2031)

6.2 Global Thermal Battery Sales and Market Share by Region (2017-2022)

6.3 Global Thermal Battery Revenue and Market Share by Region (2017-2022)

6.4 North America

6.4.1 North America Market by Country

6.4.2 North America Thermal Battery Market Share by Type

6.4.3 North America Thermal Battery Market Share by Application

6.4.4 United States

6.4.5 Canada

6.5 Europe

6.5.1 Europe Market by Country

6.5.2 Europe Thermal Battery Market Share by Type

6.5.3 Europe Thermal Battery Market Share by Application

6.5.4 Germany

6.5.5 UK

6.5.6 France

6.5.7 Italy

6.5.8 Spain

6.5.9 Russia

6.6 Asia-Pacific

6.6.1 Asia-Pacific Market by Country

6.6.2 Asia-Pacific Thermal Battery Market Share by Type

6.6.3 Asia-Pacific Thermal Battery Market Share by Application

6.6.4 China

6.6.5 Japan

6.6.6 Korea

6.6.7 India

6.6.8 Southeast Asia

6.6.9 Australia

6.7 South America

6.7.1 South America Market by Country

6.7.2 South America Thermal Battery Market Share by Type

6.7.3 South America Thermal Battery Market Share by Application

6.7.4 Brazil

6.7.5 Mexico

6.7.6 Argentina

6.7.7 Colombia

6.8 Middle East & Africa

6.8.1 Middle East & Africa Market by Country

6.8.2 Middle East & Africa Thermal Battery Market Share by Type

6.8.3 Middle East & Africa Thermal Battery Market Share by Application

6.8.4 Turkey

6.8.5 UAE

6.8.6 Saudi Arabia

6.8.7 South Africa

6.9 Conclusion of Segment by Region

Chapter 7 Profile of Leading Thermal Battery Players

7.1 EnerSys

7.1.1 Company Snapshot

7.1.2 Product/Service Offered

7.1.3 Business Performance (Sales, Price, Revenue, Gross Margin and Market Share)

7.2 ASB GROUP

7.3 Missiles & Space Batteries

7.4 EaglePicher Technologies

7.5 EnergyNest

7.6 Advanced Thermal Batteries

7.7 DFR Solutions

7.8 Tubitak

7.9 SINOEV Technologies

7.10 Diehl Group

7.11 Wuhan JOHO Technologies

Chapter 8 Upstream and Downstream Analysis of Thermal Battery

8.1 Industrial Chain of Thermal Battery

8.2 Upstream of Thermal Battery

8.3 Downstream of Thermal Battery

Chapter 9 Development Trend of Thermal Battery (2023-2031)

9.1 Global Thermal Battery Market Size (Sales and Revenue) Forecast (2023-2031)

9.2 Global Thermal Battery Market Size and CAGR Forecast by Region (2023-2031)

9.3 Global Thermal Battery Market Size and CAGR Forecast by Type (2023-2031)

9.4 Global Thermal Battery Market Size and CAGR Forecast by Application (2023-2031)

9.5 Global Thermal Battery Market Size and CAGR Forecast by Sales Channel (2023-2031)

Chapter 10 Appendix

10.1 Research Methodology

10.2 Data Sources

10.3 Disclaimer

10.4 Analysts Certification

List of Tables and Figures

Figure Thermal Battery Example

Figure Global Thermal Battery Revenue (Million $) Status and Outlook (2017-2031)

Figure Global Thermal Battery Revenue (Million $) Comparison by Region (2017-2031)

Figure Global Thermal Battery Revenue (Million $) Comparison by Type (2017-2031)

Figure Global Thermal Battery Revenue (Million $) Comparison by Application (2017-2031)

Figure Global Thermal Battery Revenue (Million $) Comparison by Sales Channel (2017-2031)

Table Global Thermal Battery Sales by Player (2020-2022)

Table Global Thermal Battery Sales Market Share by Player (2020-2022)

Figure Global Thermal Battery Sales Market Share by Player in 2022

Table Global Thermal Battery Revenue (Million $) by Player (2020-2022)

Table Global Thermal Battery Revenue Market Share by Player (2020-2022)

Figure Global Thermal Battery Revenue Market Share by Player in 2022

Table Global Thermal Battery Average Price by Player (2020-2022)

Figure Global Thermal Battery Average Price by Player in 2022

Figure Global Thermal Battery Players Competition Situation – Top 5 Players’ Revenue Market Share in 2020

Figure Global Thermal Battery Players Competition Trends – Top 5 Players’ Revenue Market Share in 2022

Figure Example of Phase Change Thermal Batteries

Figure Global Phase Change Thermal Batteries Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Encapsulated Thermal Batteries

Figure Global Encapsulated Thermal Batteries Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Unencapsulated Thermal Batteries

Figure Global Unencapsulated Thermal Batteries Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Others

Figure Global Others Revenue (Million $) and Growth Rate (2017-2022)

Table Global Thermal Battery Sales by Type (2017-2022)

Table Global Thermal Battery Sales Market Share by Type (2017-2022)

Figure Global Thermal Battery Sales Market Share by Type in 2022

Table Global Thermal Battery Revenue (Million $) by Type (2017-2022)

Table Global Thermal Battery Revenue Market Share by Type (2017-2022)

Figure Global Thermal Battery Revenue Market Share by Type in 2022

Table Global Thermal Battery Average Price by Type (2017-2022)

Figure Global Thermal Battery Average Price by Type in 2022

Table Leading Players of Thermal Battery by Type in 2022

Figure Example of Aerospace & Aviation

Figure Global Thermal Battery for Aerospace & Aviation Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Military & Defense

Figure Global Thermal Battery for Military & Defense Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Utilities

Figure Global Thermal Battery for Utilities Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Others

Figure Global Thermal Battery for Others Revenue (Million $) and Growth Rate (2017-2022)

Table Global Thermal Battery Sales by Application (2017-2022)

Table Global Thermal Battery Sales Market Share by Application (2017-2022)

Figure Global Thermal Battery Sales Market Share by Application in 2022

Table Leading Consumers of Thermal Battery by Application in 2022

Figure Example of Direct Channel

Figure Global Thermal Battery for Direct Channel Revenue (Million $) and Growth Rate (2017-2022)

Figure Example of Distribution Channel

Figure Global Thermal Battery for Distribution Channel Revenue (Million $) and Growth Rate (2017-2022)

Table Global Thermal Battery Revenue by Sales Channel (2017-2022)

Table Global Thermal Battery Revenue Market Share by Sales Channel (2017-2022)

Figure Global Thermal Battery Revenue Market Share by Sales Channel in 2022

Table Leading Distributors/Dealers of Thermal Battery by Sales Channel in 2022

Table Global Thermal Battery Market Size and CAGR by Region (2017-2031)

Table Global Thermal Battery Sales by Region (2017-2022)

Table Global Thermal Battery Sales Market Share by Region (2017-2022)

Figure Global Thermal Battery Sales Market Share by Region in 2022

Table Global Thermal Battery Revenue (Million $) by Region (2017-2022)

Table Global Thermal Battery Revenue Market Share by Region (2017-2022)

Figure Global Thermal Battery Revenue Market Share by Region in 2022

Table North America Thermal Battery Sales by Country (2017-2022)

Figure North America Thermal Battery Sales Market Share by Country (2017-2022)

Table North America Thermal Battery Revenue by Country (2017-2022)

Figure North America Thermal Battery Revenue Market Share by Country (2017-2022)

Figure North America Thermal Battery Market Share by Type in 2022

Figure North America Thermal Battery Market Share by Application in 2022

Figure United States Thermal Battery Sales and Growth Rate (2017-2022)

Figure United States Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Canada Thermal Battery Sales and Growth Rate (2017-2022)

Figure Canada Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Table Europe Thermal Battery Sales by Country (2017-2022)

Figure Europe Thermal Battery Sales Market Share by Country (2017-2022)

Table Europe Thermal Battery Revenue by Country (2017-2022)

Figure Europe Thermal Battery Revenue Market Share by Country (2017-2022)

Figure Europe Thermal Battery Market Share by Type in 2022

Figure Europe Thermal Battery Market Share by Application in 2022

Figure Germany Thermal Battery Sales and Growth Rate (2017-2022)

Figure Germany Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure UK Thermal Battery Sales and Growth Rate (2017-2022)

Figure UK Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure France Thermal Battery Sales and Growth Rate (2017-2022)

Figure France Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Italy Thermal Battery Sales and Growth Rate (2017-2022)

Figure Italy Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Spain Thermal Battery Sales and Growth Rate (2017-2022)

Figure Spain Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Russia Thermal Battery Sales and Growth Rate (2017-2022)

Figure Russia Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Table Asia-Pacific Thermal Battery Sales by Country (2017-2022)

Figure Asia-Pacific Thermal Battery Sales Market Share by Country (2017-2022)

Table Asia-Pacific Thermal Battery Revenue by Country (2017-2022)

Figure Asia-Pacific Thermal Battery Revenue Market Share by Country (2017-2022)

Figure Asia-Pacific Thermal Battery Market Share by Type in 2022

Figure Asia-Pacific Thermal Battery Market Share by Application in 2022

Figure China Thermal Battery Sales and Growth Rate (2017-2022)

Figure China Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Japan Thermal Battery Sales and Growth Rate (2017-2022)

Figure Japan Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Korea Thermal Battery Sales and Growth Rate (2017-2022)

Figure Korea Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure India Thermal Battery Sales and Growth Rate (2017-2022)

Figure India Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Southeast Asia Thermal Battery Sales and Growth Rate (2017-2022)

Figure Southeast Asia Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Australia Thermal Battery Sales and Growth Rate (2017-2022)

Figure Australia Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Table South America Thermal Battery Sales by Country (2017-2022)

Figure South America Thermal Battery Sales Market Share by Country (2017-2022)

Table South America Thermal Battery Revenue by Country (2017-2022)

Figure South America Thermal Battery Revenue Market Share by Country (2017-2022)

Figure South America Thermal Battery Market Share by Type in 2022

Figure South America Thermal Battery Market Share by Application in 2022

Figure Brazil Thermal Battery Sales and Growth Rate (2017-2022)

Figure Brazil Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Mexico Thermal Battery Sales and Growth Rate (2017-2022)

Figure Mexico Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Argentina Thermal Battery Sales and Growth Rate (2017-2022)

Figure Argentina Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Colombia Thermal Battery Sales and Growth Rate (2017-2022)

Figure Colombia Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Table Middle East & Africa Thermal Battery Sales by Country (2017-2022)

Figure Middle East & Africa Thermal Battery Sales Market Share by Country (2017-2022)

Table Middle East & Africa Thermal Battery Revenue by Country (2017-2022)

Figure Middle East & Africa Thermal Battery Revenue Market Share by Country (2017-2022)

Figure Middle East & Africa Thermal Battery Market Share by Type in 2022

Figure Middle East & Africa Thermal Battery Market Share by Application in 2022

Figure Turkey Thermal Battery Sales and Growth Rate (2017-2022)

Figure Turkey Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure UAE Thermal Battery Sales and Growth Rate (2017-2022)

Figure UAE Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure Saudi Arabia Thermal Battery Sales and Growth Rate (2017-2022)

Figure Saudi Arabia Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Figure South Africa Thermal Battery Sales and Growth Rate (2017-2022)

Figure South Africa Thermal Battery Revenue (Million $) and Growth Rate (2017-2022)

Table Company Snapshot of EnerSys

Table Thermal Battery Introduction of EnerSys

Table Thermal Battery Sales, Price, Revenue, Gross Margin and Market Share of EnerSys (2020-2022)

Table Industrial Chain of Thermal Battery

Table Manufacturing Cost Structure of Thermal Battery

Table General Manufacturing Process of Thermal Battery

Table Leading Distributors/Dealers of Thermal Battery

Table Leading Consumers of Thermal Battery

Figure Global Thermal Battery Sales and Growth Rate Forecast (2023-2031)

Figure Global Thermal Battery Revenue and Growth Rate Forecast (2023-2031)

Table Global Thermal Battery Market Size and CAGR Forecast by Region (2023-2031)

Table Global Thermal Battery Market Size and CAGR Forecast by Type (2023-2031)

Table Global Thermal Battery Market Size and CAGR Forecast by Application (2023-2031)

Table Global Thermal Battery Market Size and CAGR Forecast by Sales Channel (2023-2031)

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)