Molten Salt Thermal Energy Storage Market
Report ID: SQMIG45A2602
Report ID: SQMIG45A2602
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Report ID:
SQMIG45A2602 |
Region:
Global |
Published Date: May, 2025
Pages:
187
|Tables:
89
|Figures:
68
Global Molten Salt Thermal Energy Storage Market size was valued at USD 2.42 Billion in 2024 and is poised to grow from USD 2.65 Billion in 2025 to USD 5.6 Billion by 2033, growing at a CAGR of 9.8% during the forecast period (2026–2033).
The growth of malted salt thermal energy storage market is largely driven by the increasing demand for effective renewable energy storage solutions, especially in focused solar energy (CSP) plants, where melted salt technology plays an important role. Investments in melting-based technologies have surged, driven by supportive policies, state incentives, and the growing need for energy storage to enhance renewable energy utilization. For example, Spain's CSP expansion project 2024 integrates CSP expansion project to increase solar energy production. In addition, they are declining the cost of solar energy systems and the increasing requirement for network stability and high load management and market requirements. China's crisis TIBBA-inspired 100 MW CSP project, which will be completed in 2025, explains how melted salt storage is leveled to reduce renewable energy sources and maintain a stable energy supply.
Additionally, molten salt thermal energy storage systems offer a longer duration of storage compared to other energy storage technologies like lithium-ion batteries. Molten salt thermal energy storage is one of the essential components of the power supply. These products are used for an extensive variety of applications, such as heat treating and annealing of steel, high-temperature process heating, and thermal storage in solar thermal power plants.
The expense of thermal energy storage technologies depends on the application, size, and thermal insulation technology. The costs of molten salt thermal energy storage systems based on phase change materials and thermochemical storage are generally higher relative to the cost of the storage capacity they provide. The cost of storage systems represents almost 30% to 40% of the total cost of the system. Further research on energy storage technologies to reduce initial capital requirements is expected to make molten salt thermal energy storage technologies more competitive in the near future.
How Is AI Transforming the Molten Salt Thermal Energy Storage Market?
Artificial intelligence (AI) is revolutionizing the molten salt thermal energy storage market by enhancing the efficiency, design, and analysis of these systems. In 2024, researchers leveraged AI-driven techniques to analyze the properties of molten salts, particularly binary carbonate systems, using the Deep Potential GENerator (DPGEN). This method integrated traditional empirical potential functions with first-principles molecular dynamics, providing deeper insights into temperature-dependent effects and ion interactions, ultimately aiding in the development of advanced molten salts for TES applications.
For instance, in early 2025, the Skolkovo Institute of Science and Technology introduced an AI model capable of predicting thermophysical properties of molten salts, such as FLiNaK, significantly reducing the need for costly experimental testing and accelerating the screening process for optimal salt compositions in next-generation nuclear reactors and TES solutions. Additionally, Argonne National Laboratory applied AI-driven machine learning to analyze high-energy X-ray diffraction data, offering a more detailed understanding of molten salt structures.
Market snapshot - 2026-2033
Global Market Size
USD 2.2 billion
Largest Segment
Parabolic Troughs
Fastest Growth
Fresnel Reflector
Growth Rate
9.8% CAGR
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Global Molten Salt Thermal Energy Storage Market is segmented by Technology, Application and region. Based on Technology, the market is segmented into Sensitized and Unsensitized, Sensitized, Unsensitized, Single Tank vs. Two Tank Systems, Single Tank Systems and Two Tank Systems. Based on Application, the market is segmented into Concentrated Solar Power (CSP) Plants, Industrial Heating, Residential Heating and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The molten salt thermal energy storage market is witnessing rapid innovation, driven by startups that are developing advanced storage solutions to enhance energy efficiency and sustainability. With the growing demand for renewable energy integration and decarbonization of industries, startups founded after 2016 are leveraging novel materials, AI-driven optimization, and high-temperature storage technologies to revolutionize the sector.
Fourth Power (Founded in 2021, USA) – Based in Massachusetts, Fourth Power has developed a unique TES system that captures excess renewable energy as intense heat using liquid tin circulated through graphite pipes. This stored heat is later converted back into electricity via thermophotovoltaic cells. In December 2023, Fourth Power secured $19 million in Series A funding to scale up its technology.
MGA Thermal (Founded in 2019, Australia) – This startup specializes in thermal energy storage using Miscibility Gap Alloys (MGA), a novel thermal storage material. In December 2024, MGA Thermal partnered with Chevron to deploy its renewable energy blocks in a five-megawatt-hour unit in the United States, aimed at decarbonizing Chevron’s manufacturing operations. This marks a significant step in MGA Thermal’s commercial expansion.
Antora Energy (Founded in 2018, USA) – This startup is working on electrifying heavy industries by storing excess solar and wind energy as heat in carbon blocks, which can later be used to generate electricity or deliver industrial process heat at temperatures up to 1500°C. Antora Energy’s approach focuses on zero-carbon power and heat solutions for industrial applications.
As per global molten salt thermal energy storage market analysis, power generation dominated the market due to its large-scale energy storage capabilities, strong integration with concentrated solar power (CSP) plants. Molten salt TES enables CSP plants to store solar energy during peak sunlight hours and dispatch electricity when demand is high, ensuring a reliable and stable power supply. Large-scale projects such as the Crescent Dunes Solar Energy Project (USA) and Noor Energy 1 (UAE) highlight the extensive adoption of molten salt TES in utility-scale electricity generation. Governments worldwide are also promoting thermal energy storage to enhance grid resilience and reduce dependence on fossil fuels, further solidifying power generation as the dominant application segment.
The residential sector is the fastest-growing segment in the molten salt thermal energy storage market, driven by the increasing need for decentralized energy storage solutions, growing adoption of solar energy, and advancements in compact TES systems. As more households install solar panels, the demand for effective energy storage solutions is rising, enabling homeowners to store excess solar energy and use it during nighttime.
As per global molten salt thermal energy storage market outlook, parabolic troughs dominated the due to their long-standing commercial success, high thermal efficiency, and extensive deployment in large-scale concentrated solar power (CSP) plants. Their curved mirrors effectively concentrate sunlight onto a receiver tube, allowing for efficient heat transfer and storage using molten salt. This technology has been widely adopted in CSP projects such as the Solana Generating Station in the U.S. and the Noor Ouarzazate Complex in Morocco, showcasing its reliability in large-scale energy generation. With thermal efficiencies reaching around 40% and proven grid integration, parabolic troughs remain the preferred choice for power producers seeking stable, long-duration energy storage solutions.
As per global molten salt thermal energy storage market forecast, fresnel reflector is the fastest-growing segment in the market due to their lower capital costs, modular design, and suitability for industrial process heat applications. Unlike parabolic troughs, Fresnel systems use flat, compact mirror arrays, reducing construction and maintenance expenses. This cost advantage is driving increased adoption, particularly in emerging markets where affordable renewable energy solutions are in high demand.
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North America is emerging as a key player in the molten salt thermal energy storage market, driven by strong government incentives, rising investments in renewable energy, and technological advancements. The region is witnessing a surge in CSP projects integrating molten salt storage to enhance energy reliability. Research institutions and private sector innovations are accelerating the adoption of TES, making North America a hub for advanced thermal energy solutions. The push for decarbonization and energy security further fuels market expansion, with the U.S. and Canada at the forefront of deployment.
The United States holds a significant position in the North American molten salt thermal energy storage market, accounting for approximately one-third of the total market revenue in 2024. This dominance is attributed to substantial government incentives and the presence of research institutions like Sandia National Laboratories, which have been instrumental in advancing thermal energy storage technologies. A notable example is the Ivanpah Solar Power Project in California, which utilizes molten salt storage to enhance electricity delivery efficiency.
Canada is emerging as a rapidly growing molten salt thermal energy storage market, driven by its commitment to reducing greenhouse gas emissions and transitioning to renewable energy sources. The Canadian government's investments in clean energy research and development have led to pilot projects exploring the integration of molten salt storage with solar and wind energy systems, aiming to improve grid stability and energy reliability.
Asia-Pacific is one of the fastest-growing regions for molten salt thermal energy storage, fueled by massive renewable energy projects, government policies, and increasing electricity demand. The region is home to large-scale CSP installations, particularly in China and India, which leverage molten salt storage to ensure uninterrupted power supply. With governments actively supporting energy transition initiatives and major infrastructure investments in solar thermal projects, Asia-Pacific is poised to dominate the future landscape of molten salt TES. The region is also benefiting from technological advancements and cost reductions in CSP plants, making molten salt storage more commercially viable.
China has established itself as a leader in the Asia-Pacific molten salt thermal energy storage market, with significant investments in concentrated solar power (CSP) projects. The Delingha Solar Thermal Power Plant, for instance, incorporates molten salt TES to enhance capacity and efficiency. Additionally, in July 2022, Xinhua Power Generation Company announced a 1 GW solar energy project in Bozhou, which includes a 100 MW tower CSP using molten salt for thermal storage, providing eight hours of electricity without a source.
India is rapidly expanding its molten salt thermal energy storage capabilities, driven by the need to meet increasing energy demands sustainably. The Gujarat Solar One project, India's largest parabolic trough plant, features a molten salt capacity with nine hours of thermal storage. This project exemplifies India's commitment to integrating thermal energy storage solutions to bolster renewable energy adoption and grid stability.
Europe remains a leader in molten salt TES adoption, primarily due to its strong regulatory framework, ambitious renewable energy targets, and high penetration of concentrated solar power (CSP) plants. Countries such as Spain and France have been at the forefront, implementing cutting-edge molten salt storage solutions to enhance grid stability and meet carbon neutrality goals. The European Green Deal has accelerated investment in thermal energy storage technologies, encouraging widespread adoption across multiple sectors. Furthermore, R&D efforts and pilot projects are continuously improving storage efficiency, making Europe a benchmark for innovative molten salt TES applications.
Spain stands at the forefront of Europe's molten salt thermal energy storage market, propelled by EU legislative objectives promoting renewable energy. The technologically advanced Gemasolar Plant employs molten salt for 15 hours of energy storage, enabling continuous power generation. Spain's extensive deployment of CSP installations, totaling approximately 2,304 MW, underscores its leadership in this sector.
France is experiencing rapid growth in the molten salt thermal energy storage market, driven by its commitment to diversifying energy sources and reducing carbon emissions. Investments in CSP and TES technologies have been stimulated by EU legislative objectives, leading to the development of pilot projects that integrate molten salt storage to enhance renewable energy utilization and grid reliability.
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Growing Adoption of Renewable Energy Sources
Advancements in Heat Transfer and Storage Technologies
High Initial Capital Investment
Material Degradation and Corrosion Issues
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The competitive landscape of the global molten salt thermal energy storage industry is evolving rapidly, driven by startups and established players striving to enhance efficiency, scalability, and sustainability. Companies are leveraging advanced materials, AI-driven optimization, and novel heat storage techniques to gain a competitive edge. MGA Thermal, for example, has positioned itself as a leader in innovative thermal energy storage by developing Miscibility Gap Alloys (MGA) that provide high-density, long-duration heat storage. The company recently partnered with Chevron in December 2024 to deploy a five-megawatt-hour storage unit, marking a strategic move to integrate TES into industrial decarbonization efforts.
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As per SkyQuest analysis, the increasing demand for renewable energy storage solutions is a significant driver in the molten salt thermal energy storage market. As the global energy landscape shifts toward more sustainable sources, the need for effective storage systems that can store excess energy produced during peak sunlight hours becomes critical. Government initiatives aimed at promoting renewable energy are further driving the growth of the molten salt thermal energy storage market. Policies such as tax credits, grants, and subsidies encourage investment in renewable energy technologies, including molten salt systems. One of the primary restraints in the molten salt thermal energy storage market is the high initial costs associated with the installation and maintenance of these systems. Molten salt TES systems require substantial capital investment for the construction of storage tanks, heat exchangers, and other infrastructure components.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 2.42 Billion |
| Market size value in 2033 | USD 5.6 Billion |
| Growth Rate | 9.8% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Molten Salt Thermal Energy Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Molten Salt Thermal Energy Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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