Molten Salt Thermal Energy Storage Market Report 2025

This Molten Salt Thermal Energy Storage market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The molten salt thermal energy storage market size has grown rapidly in recent years. It will grow from $4.8 billion in 2024 to $5.5 billion in 2025 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increasing stability and efficiency, an increasing need for dependable and effective energy storage solutions, demand for more economical and effective energy storage solutions, growing in popularity as a useful thermal energy storage alternative, high demand for improving power transmission and distribution infrastructure.

The molten salt thermal energy storage market size is expected to see rapid growth in the next few years. It will grow to $9.38 billion in 2029 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to the growing demand for renewable energy, flourishing demand for molten salt thermal energy storage in the solar energy generation sector, growing concentrating solar power (CSP) plants utilizing molten salt thermal energy storage, rising growth of the energy generation sector. Major trends in the forecast period include larger adoption of this technology, development of power transmission systems, extensively used technology in the molten salt thermal energy storage sector, technological innovations, and next-gen molten salt reactor systems.

The increasing demand for renewable energy is expected to drive the growth of the molten salt thermal energy storage market in the coming years. Renewable energy is derived from natural, continuously replenished sources, and its rising demand is fueled by the need to lower greenhouse gas emissions, mitigate climate change, and transition to cleaner, more sustainable energy alternatives compared to fossil fuels. Molten salt thermal energy storage is used in renewable energy systems, particularly in concentrated solar power, to store excess thermal energy, allowing for a continuous energy supply even when solar power generation is not possible. This improves both efficiency and reliability. For example, in September 2024, the U.S. Energy Information Administration (EIA) reported that renewable energy made up about 9% (8.2 quadrillion BTUs) of total U.S. energy consumption in 2023, with the electric power sector consuming roughly 39% of this, and renewables accounting for approximately 21% of the country’s electricity generation. As a result, the rising demand for renewable energy is boosting the growth of the molten salt thermal energy storage market.

Key players in the molten salt thermal energy storage market are focusing on innovative technologies, such as molten hydroxide salt energy storage, to advance renewable energy solutions and reduce greenhouse gas emissions, especially in industrial heat applications. Molten hydroxide salt energy storage is a technology that uses molten hydroxide salts to store thermal energy. This approach efficiently stores heat from renewable sources, which can be later used as heat or steam for electricity generation or industrial processes. For instance, in April 2024, Hyme Energy, a Denmark-based sustainable energy firm, unveiled the world’s first molten salt energy storage facility. Designed to store excess renewable energy during peak production and release it during lower production periods, this facility functions similarly to a highly efficient battery. It utilizes molten hydroxide salt to store energy at high temperatures, providing a reliable and sustainable energy reserve during periods of low renewable energy production.

In March 2022, Kyoto Group AS, a thermal energy company based in Norway, acquired Mercury Energy S.L. for an undisclosed sum. This acquisition enables Kyoto to utilize Mercury Energy's expertise in molten salt thermal energy storage and steam generation. Mercury Energy S.L., a company based in Spain, specializes in molten salt solutions for thermal energy storage.

Major companies operating in the molten salt thermal energy storage market are Engie SA, Siemens AG, Mitsubishi Hitachi Power Systems, Yara International ASA, Acciona S.A., Orano, Sulzer Ltd., Abengoa SA, SENER Grupo de Ingenieria S.A., Kraftanlagen München GmbH, Ferrostaal AG, Torresol Energy Group, BrightSource Energy Inc., CSP Services, Aalborg CSP, TSK Group, HeliosCSP, SolarReserve LLC, ACWA Power, Caldwell Energy Company.

Europe was the largest region in the molten salt thermal energy storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molten salt thermal energy storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the molten salt thermal energy storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Molten salt thermal energy storage (TES) is a technology that utilizes molten salts to store thermal energy at high temperatures, primarily for use in concentrated solar power (CSP) plants. By heating molten salts with solar energy, the system retains heat for extended periods, enabling the stored energy to be converted into electricity even when sunlight is unavailable. This enhances the efficiency and reliability of renewable energy systems by providing power during peak demand or after sunset.

The main types of molten salt thermal energy storage include sensible heat storage, latent heat storage, and thermochemical heat storage. Sensible heat storage involves increasing the temperature of a material to store thermal energy. This technology encompasses systems such as parabolic troughs, power towers, and Fresnel reflectors. Applications of molten salt TES include heating, ventilation, and air conditioning (HVAC) systems, heat transfer fluid systems, combined heat and power generators, and more. It serves various end-user industries, including energy generation, residential, commercial, and industrial sectors.

The molten salt thermal energy storage market research report is one of a series of new reports that provides molten salt thermal energy storage market statistics, including molten salt thermal energy storage industry global market size, regional shares, competitors with a molten salt thermal energy storage market share, detailed molten salt thermal energy storage market segments, market trends and opportunities, and any further data you may need to thrive in the molten salt thermal energy storage industry. This molten salt thermal energy storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The molten salt thermal energy storage market consists of sales of tanks, heat exchangers, and pumps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.