Molten Salt Battery Market Size

Global Molten Salt Battery Market size was valued at USD 2.21 billion in 2023 and is poised to grow from USD 2.76 billion in 2024 to USD 16.23 billion by 2032, growing at a CAGR of 24.8% during the forecast period (2025-2032).

The Global Molten Salt Battery market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase molten salt battery market share and profitability. 'Abengoa Solar S.A. (Spain) ', 'Acciona S.A. (Spain) ', 'AREVA (France) ', 'BrightSource Energy, Inc. (USA) ', 'SCHOTT AG (Germany) ', 'Siemens AG (Germany) ', 'Pratt and Whitney Rocketdyne, Inc. (USA) ', 'Wilson Solarpower (India) ', 'eSolar (USA) ', 'Thermal Energy Storage, LLC (USA) ', 'Copenhagen Atomics (Denmark) ', 'Ganfeng Lithium Co., Ltd. (China) ', 'Ambri Inc. (USA) ', 'SolarReserve (USA) ', 'Abengoa S.A. (Spain) ', 'Acciona Energia (Spain) ', 'SolarReserve (USA) ', 'Siemens Energy (Germany) ', 'Copenhagen Atomics (Denmark) ', 'Ganfeng Lithium Co., Ltd. (China)'

In renewable energy facilities, lithium-ion batteries have been employed for energy storage purposes. Manufacturers in the energy storage business, however, are concentrating on creating new batteries that would be more economical and effective than lithium-ion batteries. One of these, molten salt batteries, is now undergoing market introduction and has uses in energy storage systems for renewable grids. The molten salt battery market is anticipated to expand strongly in the next years due to its low cost and superior efficiency over its traditional competitors. The molten salt batteries are used in electric cars, and it is anticipated that the rising popularity of electric vehicles will soon propel molten storage battery sales.

In the region of Latin America, the installation of solar renewable capacity has dramatically expanded. Among the important nations that have seen a significant increase in the renewable capacity expansion are Brazil, Chile, and Mexico. Sales of molten salt batteries are anticipated to increase in the upcoming years due to the expansion of the renewable energy sector in Latin America.