Market Overview:
Molten salt is a phase-change material widely used for thermal energy storage. Under standard temperature and atmospheric conditions, molten salts remain solid. However, when thermal energy is introduced, these salts transition into a liquid state. In most molten salt energy storage systems, the salts remain in their liquid form throughout the energy storage process.
The Global Molten Salt Thermal Energy Storage Market Size is Anticipated to Exceed USD 29.1 Billion by 2033, Growing at a CAGR of 15.20% from 2023 to 2033.
The parabolic trough systems segment is expected to dominate the market throughout the forecast period.
In terms of type, the molten salt thermal energy storage market is categorized into power tower systems, parabolic trough systems, dish/engine systems, and others. Among these, the parabolic trough systems segment is anticipated to hold the largest market share during the forecast period. As the most established and widely used technology in the molten salt thermal energy storage sector, parabolic trough systems have a proven track record, particularly in large-scale commercial operations worldwide, including concentrated solar power (CSP) plants. Compared to other molten salt thermal energy storage configurations, parabolic trough technology offers superior efficiency, reliability, and cost-effectiveness, making it an attractive option for large-scale energy storage applications.
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List of Key Companies
- SENER Grupo de Ingenieria S.A.
- KVK Energy Ventures Ltd.
- ACWA Power
- Yara International ASA
- Acciona S.A.
- Abengoa SA
- Bright Source Energy Inc.
- SolarReserve LLC
- Engie SA
- ACWA Power
- Sulzer
- Pratt and Whitney Rocketdyne, Inc.
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the molten salt thermal energy storage market based on the below-mentioned segments:
Global Molten Salt Thermal Energy Storage Market, By Type
- Parabolic Trough Systems
- Power Tower Systems
- Dish/Engine Systems
- Others
Global Molten Salt Thermal Energy Storage Market, By Application
- Power Generation
- District Heating and Cooling
- Process Heating and Cooling
Regional Segment Analysis of the Molten Salt Thermal Energy Storage Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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