Market Overview

The Global Molten Salt Thermal Energy Storage Market was valued at USD 7,515.7 million in 2023 and is expected to reach USD 23,475.0 million by 2031 while growing at a CAGR of 15.3% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global molten salt thermal energy storage market growth. Molten Salt Thermal Energy Storage (MSTES) utilizes molten salts to store and release thermal energy, often in tandem with concentrating solar power (CSP) plants. The core idea is to store surplus thermal energy from high renewable production periods and release it during high demand or low renewable generation.

Increasing renewable energy integration and high energy density and efficiency propel the growth of the molten salt thermal energy storage market. However, obstacles like high initial investment costs and technological challenges may impede market expansion.

Furthermore, the global molten salt thermal energy storage industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Technology Analysis

The Global Molten Salt Thermal Energy Storage Market is segmented among Parabolic Troughs, Fresnel Reflector, and Power Tower, based on Technology. In 2023, Parabolic Troughs accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Molten Salt Thermal Energy Storage Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Yara International ASA, Acciona, S.A., Abengoa SA, BrightSource Energy, Inc., SENER Grupo de Ingenieria, S.A., SolarReserve, LLC, Engie SA, and SCHOTT AG.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Molten Salt Thermal Energy Storage Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Molten Salt Thermal Energy Storage Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Molten Salt Thermal Energy Storage Market Segmentation, By Technology

• Global Molten Salt Thermal Energy Storage Market Share Analysis, By Technology 

• Global Molten Salt Thermal Energy Storage Market Growth Analysis, By Technology

• Global Molten Salt Thermal Energy Storage Market Trends, By Technology

o Parabolic Troughs

o Fresnel Reflector

o Power Tower

6. Global Molten Salt Thermal Energy Storage Market Segmentation, By Region

• Global Molten Salt Thermal Energy Storage Market Share Analysis, By Region

• Global Molten Salt Thermal Energy Storage Market Growth Analysis, By Region

• Global Molten Salt Thermal Energy Storage Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

7. Competitive Landscape

• Yara International ASA*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Acciona, S.A.

• Abengoa SA

• BrightSource Energy, Inc.

• SENER Grupo de Ingenieria, S.A.

• SolarReserve, LLC

• Engie SA

• SCHOTT AG

 *Similar analysis will be provided for each company listed above.