Molten salt thermal energy storage (TES) is a technology used to store thermal energy in molten salt that can be used later for process heat or power generation. It operates at high temperature of 300 to 560°C depending on the salt composition. The molten salt acts as a heat transfer fluid to transport thermal energy to its storage medium. Some of the advantages of molten salt TES system include high energy density, ability to store thermal energy for large-scale applications and relatively low cost.

With rising concerns over depleting fossil fuel reserves and growing environmental pollution levels, renewable sources of energy such as solar and wind power are Molten Salt Thermal Energy Storage Market Size And Trends However, the intermittent nature of these resources necessitates efficient storage solutions to ensure reliable power supply. Molten salt TES offers a viable option to store surplus thermal energy from concentrating solar power (CSP) plants and biogas plants for utilizing later during peak demand periods or when solar irradiation is low.

The Global molten salt thermal energy storage market is estimated to be valued at US$ 2.02 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031.

Key takeaways:

Key players operating in the molten salt thermal energy storage are Yara International ASA, Acciona S.A., Abengoa SA, BrightSource Energy, Inc., SENER Grupo de Ingenieria, S.A., SolarReserve, LLC, Engie SA, SCHOTT AG, Torresol Energy Group. The global players are focusing on strategic partnerships and collaborations to expand their geographic footprint and gain access to new customers.

The growing deployment of renewable power projects across regions presents significant opportunities for Molten Salt Thermal Energy Storage Market Size And Trends technology adoption. Countries worldwide are investing heavily in setting up large-scale CSP plants with integrated storage to bolster clean energy production.

North America and Europe currently dominate the global molten salt thermal energy storage market. However, Asia Pacific is emerging as a lucrative region with China, India, and Middle East countries aggressively investing in new renewable capacities. Manufacturers are shifting their focus towards these high growth regional markets.

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