This article reports detailed investigation of using different Phase Change Materials (PCM) in various designs of Thermal Energy Storage (TES) Devices: specifically, heat exchanger. The focus is on the performance analysis of different types of heat exchangers acting as TES having various PCMs which are substantially reviewed in this paper. The study highlights the difference in their geometry and performance output. Further, the importance of different performance enhancement methods with parametric study of different heat exchangers using PCM is described. From the detailed investigation, finally, it is realised that the different factors such as no. of outer tubes, no. of inner tubes, tube material selected, type of PCM, provision of an extended surface, use of different metal foams and nanoparticles, various types of composites, charging and discharging characteristics and packed and cascaded units are different heat transfer enhancement methods to improve the heat transfer. A novel kind of heat exchanger known as Webbed tube heat exchanger using PCM is discussed for an efficient TES unit. Further, a review of quantitative analysis of melting time, solidification time, charging and discharging time is discussed.