Top Molten Salt Thermal Energy Storage Companies

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 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. 'Acciona S.A. (Spain) ', 'BrightSource Energy, Inc. (USA) ', 'SENER Grupo de Ingenieria S.A. (Spain) ', 'SolarReserve LLC (USA) ', 'Engie SA (France) ', 'SCHOTT AG (Germany) ', 'Torresol Energy Group (Spain) ', 'Hyme Energy ApS (Denmark) ', 'Kyoto Group (Norway) ', 'Malta Inc. (USA) ', 'Pintail Power (USA) ', 'E2S Power (Switzerland) ', 'Kraftanlagen München GmbH (Germany) ', 'Rondo Energy (USA) ', 'Polar Night Energy (Finland) ', 'Brenmiller Energy Ltd. (Israel)'

The increasing global shift towards renewable energy sources like solar and wind power has significantly fueled the demand for molten salt thermal energy storage (TES). Governments and private entities are investing in energy storage solutions to address the intermittency challenges of renewables. Molten salt TES systems enable round-the-clock power generation, making them a preferred choice for solar thermal plants and hybrid renewable systems. Countries such as Spain, the U.S., and China are expanding their concentrated solar power (CSP) projects, integrating molten salt storage for improved efficiency and energy security.

Strategic Collaborations and Mergers Driving Innovation: The market is witnessing a surge in strategic partnerships between technology providers and energy firms to enhance molten salt TES deployment. For example, in May 2024, Alfa Laval and Hyme Energy joined forces to develop steam generators for molten salt energy storage, contributing to the launch of the world’s first molten hydroxide salt energy storage plant in Denmark. Similarly, Malta Inc. launched the Store2REPower project in June 2024 to test next-generation heat exchangers, reinforcing the trend of cross-sector collaborations aimed at optimizing TES performance.

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.