The Molten Salt Thermal Energy Storage Market is estimated at USD 1,034.1 million in 2023. Further, the market is expected to grow from USD 1,130 million in 2024 to USD 2,879 million in 2031 at a CAGR of %.
The global molten salt thermal energy storage (TES) market is gaining significant traction driven by increasing deployment of concentrated solar power (CSP) plants, rising demand for renewable energy integration, and the need for efficient large-scale energy storage solutions. Molten salt TES systems utilise nitrate salts, primarily a mixture of sodium nitrate and potassium nitrate, to store thermal energy at high temperatures ranging from 290°C to over 560°C. This enables CSP plants to generate electricity even during non-sunny hours, supporting stable grid supply and peak load management. The market is witnessing robust growth as countries focus on decarbonising power generation, enhancing grid stability, and ensuring energy security by adopting cost-effective long-duration storage solutions, especially in arid and semi-arid regions with high direct normal irradiation (DNI) levels suitable for CSP deployment.
The market expansion is further supported by technological advancements in molten salt formulations, thermal insulation, and heat exchanger systems, which improve operational efficiency, storage duration, and cost competitiveness compared to battery-based storage for utility-scale applications. Spain, the United States, China, South Africa, and the Middle East are leading adopters, with governments investing in CSP projects integrated with molten salt storage to achieve renewable energy targets and reduce dependence on fossil fuels. However, the market faces challenges such as high initial capital investment, complex operational maintenance, and competition from rapidly declining battery storage costs in certain applications. Key companies are focusing on optimising system designs, developing higher temperature salts for greater efficiency, and collaborating with utilities to build large-scale CSP-molten salt storage hybrid plants. Overall, the molten salt TES market is poised for strong growth as global energy systems transition towards higher shares of renewable power generation, requiring reliable and scalable thermal storage technologies for grid balancing and continuous clean energy supply.
Power tower technology is the fastest-growing segment in the molten salt thermal energy storage market due to its higher operating temperatures, which result in improved thermal efficiency and lower levelised cost of electricity compared to parabolic troughs. This technology allows molten salt to directly receive concentrated solar energy at the receiver atop the tower, enabling efficient heat transfer and extended storage durations suitable for utility-scale applications.
The 101 MW and above capacity segment holds the largest market share as most commercial CSP-molten salt storage plants are designed for large-scale power generation to maximise economies of scale. Higher capacity plants provide longer storage hours, ensuring dispatchable renewable electricity to meet grid demand reliably, which is critical for energy transition strategies in major renewable-focused countries.
Key Insights
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The molten salt thermal energy storage market is growing steadily as it provides efficient and cost-effective large-scale energy storage solutions for concentrated solar power (CSP) plants. Molten salt systems enable CSP plants to operate beyond daylight hours, ensuring continuous electricity generation and supporting grid stability for renewable integration.
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Two-tank indirect storage systems dominate the market due to their mature technology, operational reliability, and proven performance in commercial CSP projects globally. These systems use separate hot and cold tanks, enabling efficient heat transfer and storage management for extended energy supply durations.
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Spain leads the global molten salt TES market with several operational CSP projects integrating molten salt storage to achieve dispatchable renewable power. Government policies supporting clean energy and early CSP deployment have established Spain as a pioneer in molten salt thermal storage technologies.
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China is rapidly emerging as a major market for molten salt TES, driven by its focus on expanding CSP capacity as part of its renewable energy and carbon neutrality targets. Large-scale projects incorporating molten salt storage are under construction, with state-owned utilities investing in technology localisation and scale-up.
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Technological advancements are focused on developing high-temperature molten salt formulations, including chloride salts, to increase operating temperatures above 600°C. This improves thermal efficiency and reduces cost per kWh, enhancing the competitiveness of CSP-molten salt hybrid plants against battery-based storage solutions.
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Operational and maintenance challenges such as molten salt freezing, corrosion risks, and insulation degradation require specialised engineering, increasing operational complexity. Companies are addressing these challenges through improved salt purification, advanced tank materials, and robust heat exchanger designs for reliable long-term performance.
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South Africa and the Middle East are key emerging markets, leveraging high direct normal irradiation levels for CSP deployment with integrated molten salt storage. Projects such as the Noor Energy 1 CSP plant in Dubai demonstrate the potential of molten salt TES for dispatchable renewable energy in arid regions.
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Cost competitiveness remains a market challenge as battery storage prices continue to decline, offering alternatives for short to medium-duration grid storage. However, molten salt TES maintains an advantage in long-duration storage applications where thermal energy can be stored for hours to days without significant losses.
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Major players such as Abengoa, BrightSource Energy, ACWA Power, and SENER are investing in advanced CSP and molten salt storage projects, aiming to expand their technology portfolios and capture opportunities in global renewable infrastructure development, particularly in sunny emerging economies.
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The market outlook remains positive as global energy transition efforts intensify, requiring reliable, scalable, and sustainable storage solutions. Molten salt TES is expected to play a key role in enabling 24/7 clean energy supply, grid balancing, and decarbonisation of power systems in the coming years.
Reort Scope
| Parameter | Detail |
|---|---|
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2026-2034 |
| Market Size-Units | USD billion |
| Market Splits Covered | By Technology, By Capacity, By End-Use |
| Countries Covered |
North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia-Pacific (China, India, Japan, Australia, Rest of APAC) The Middle East and Africa (Middle East, Africa) South and Central America (Brazil, Argentina, Rest of SCA) |
| Analysis Covered | Latest Trends, Driving Factors, Challenges, Supply-Chain Analysis, Competitive Landscape, Company Strategies |
| Customization | 10 % free customization (up to 10 analyst hours) to modify segments, geographies, and companies analyzed |
| Post-Sale Support | 4 analyst hours, available up to 4 weeks |
| Delivery Format | The Latest Updated PDF and Excel Datafile |
Market Segmentation
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What You Receive
• Global Molten Salt Thermal Energy Storage market size and growth projections (CAGR), 2024- 2034• Impact of recent changes in geopolitical, economic, and trade policies on the demand and supply chain of Molten Salt Thermal Energy Storage.
• Molten Salt Thermal Energy Storage market size, share, and outlook across 5 regions and 27 countries, 2025- 2034.
• Molten Salt Thermal Energy Storage market size, CAGR, and Market Share of key products, applications, and end-user verticals, 2025- 2034.
• Short and long-term Molten Salt Thermal Energy Storage market trends, drivers, restraints, and opportunities.
• Porter’s Five Forces analysis, Technological developments in the Molten Salt Thermal Energy Storage market, Molten Salt Thermal Energy Storage supply chain analysis.
• Molten Salt Thermal Energy Storage trade analysis, Molten Salt Thermal Energy Storage market price analysis, Molten Salt Thermal Energy Storage Value Chain Analysis.
• Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products.
• Latest Molten Salt Thermal Energy Storage market news and developments.
The Molten Salt Thermal Energy Storage Market international scenario is well established in the report with separate chapters on North America Molten Salt Thermal Energy Storage Market, Europe Molten Salt Thermal Energy Storage Market, Asia-Pacific Molten Salt Thermal Energy Storage Market, Middle East and Africa Molten Salt Thermal Energy Storage Market, and South and Central America Molten Salt Thermal Energy Storage Markets. These sections further fragment the regional Molten Salt Thermal Energy Storage market by type, application, end-user, and country.
Who can benefit from this research
The research would help top management/strategy formulators/business/product development/sales managers and investors in this market in the following ways1. The report provides 2024 Molten Salt Thermal Energy Storage market sales data at the global, regional, and key country levels with a detailed outlook to 2034, allowing companies to calculate their market share and analyze prospects, uncover new markets, and plan market entry strategy.
2. The research includes the Molten Salt Thermal Energy Storage market split into different types and applications. This segmentation helps managers plan their products and budgets based on the future growth rates of each segment
3. The Molten Salt Thermal Energy Storage market study helps stakeholders understand the breadth and stance of the market giving them information on key drivers, restraints, challenges, and growth opportunities of the market and mitigating risks
4. This report would help top management understand competition better with a detailed SWOT analysis and key strategies of their competitors, and plan their position in the business
5. The study assists investors in analyzing Molten Salt Thermal Energy Storage business prospects by region, key countries, and top companies' information to channel their investments.
Available Customizations
The standard syndicate report is designed to serve the common interests of Molten Salt Thermal Energy Storage Market players across the value chain and include selective data and analysis from entire research findings as per the scope and price of the publication.However, to precisely match the specific research requirements of individual clients, we offer several customization options to include the data and analysis of interest in the final deliverable.
Some of the customization requests are as mentioned below :
Segmentation of choice – Our clients can seek customization to modify/add a market division for types/applications/end-uses/processes of their choice.
Molten Salt Thermal Energy Storage Pricing and Margins Across the Supply Chain, Molten Salt Thermal Energy Storage Price Analysis / International Trade Data / Import-Export Analysis
Supply Chain Analysis, Supply–Demand Gap Analysis, PESTLE Analysis, Macro-Economic Analysis, and other Molten Salt Thermal Energy Storage market analytics
Processing and manufacturing requirements, Patent Analysis, Technology Trends, and Product Innovations
Further, the client can seek customization to break down geographies as per their requirements for specific countries/country groups such as South East Asia, Central Asia, Emerging and Developing Asia, Western Europe, Eastern Europe, Benelux, Emerging and Developing Europe, Nordic countries, North Africa, Sub-Saharan Africa, Caribbean, The Middle East and North Africa (MENA), Gulf Cooperation Council (GCC) or any other.
Capital Requirements, Income Projections, Profit Forecasts, and other parameters to prepare a detailed project report to present to Banks/Investment Agencies.
Customization of up to 10% of the content can be done without any additional charges.
Note: Latest developments will be updated in the report and delivered within 2 to 3 working days.
TABLE OF CONTENTS
1. GLOBAL MOLTEN SALT THERMAL ENERGY STORAGE INDUSTRY
1.1. Market Scope and Definition
1.2. Study Assumptions
2. MOLTEN SALT THERMAL ENERGY STORAGE MARKET LATEST TRENDS, DRIVERS AND CHALLENGES, 2023-2031
2.1. Molten Salt Thermal Energy Storage Market Latest Trends
2.2. Molten Salt Thermal Energy Storage Market Insights, 2023-2031
2.2.1. Leading Molten Salt Thermal Energy Storage Technologies, 2023-2031
2.2.2. Dominant Molten Salt Thermal Energy Storage Capacity, 2023-2031
2.2.3. Dominant Molten Salt Thermal Energy Storage End-use, 2023-2031
2.2.4. Fast-Growing Geographies for Molten Salt Thermal Energy Storage, 2023-2031
2.3. Molten Salt Thermal Energy Storage Demand Drivers to 2031
2.3.1. Cost Reduction in Technology:
2.3.2. Growing Renewable Generation
2.3.3. Developing Utility Requirements
2.3.4. Change in Policy and Regulations
2.3.5. The preferred option for large-scale high heat storage technology
2.3.6. Growing demand for uninterrupted power supply
2.4. Molten Salt Thermal Energy Storage Challenges to 2031
2.4.1. High Implementation Cost:
2.4.2. Non-Availability of Storage System Standards:
2.4.3. Economic slowdown:
2.4.4. Obsolete Energy Policy and Regulations:
2.5. Molten Salt Thermal Energy Storage Market-Five Forces Analysis
3. GLOBAL MOLTEN SALT THERMAL ENERGY STORAGE MARKET VALUE, MARKET SHARE, AND FORECAST TO 2031
3.1. Global Molten Salt Thermal Energy Storage Market Overview, 2023
3.2. Global Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Technology, 2023-2031
3.2.1. Parabolic Troughs
3.2.2. Power Tower
3.2.3. Other Technologies
3.3. Global Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Capacity, 2023-2031
3.3.1. 0 to 50 MW
3.3.2. 51-100 MW
3.3.3. 101 MW and above
3.4. Global Molten Salt Thermal Energy Storage Market Size and Share Outlook, By End-use, 2023-2031
3.4.1. Utilities
3.4.2. Other End-Uses
3.5. Global Molten Salt Thermal Energy Storage Market Size and Share Outlook by Region, 2023-2031
4. NORTH AMERICA MOLTEN SALT THERMAL ENERGY STORAGE MARKET VALUE, MARKET SHARE, AND FORECAST TO 2031
4.1. North America Molten Salt Thermal Energy Storage Market Overview, 2023
4.2. North America Molten Salt Thermal Energy Storage Market Size and Share Outlook by Technology, 2023-2031
4.3. North America Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Capacity, 2023-2031
4.4. North America Molten Salt Thermal Energy Storage Market Size and Share Outlook by End-use, 2023-2031
4.5. North America Molten Salt Thermal Energy Storage Market Size and Share Outlook by Country, 2023-2031
4.5.1. United States
4.5.2. Canada
4.5.3. Mexico
5. EUROPE MOLTEN SALT THERMAL ENERGY STORAGE MARKET VALUE, MARKET SHARE, AND FORECAST TO 2031
5.1. Europe Molten Salt Thermal Energy Storage Market Overview, 2023
5.2. Europe Molten Salt Thermal Energy Storage Market Size and Share Outlook by Technology, 2023-2031
5.3. Europe Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Capacity, 2023-2031
5.4. Europe Molten Salt Thermal Energy Storage Market Size and Share Outlook By End-use, 2023-2031
5.5. Europe Molten Salt Thermal Energy Storage Market Size and Share Outlook by Country, 2023-2031
5.5.1. Germany
5.5.2. UK
5.5.3. Italy
5.5.4. Spain
5.5.5. Rest of Europe
6. ASIA PACIFIC MOLTEN SALT THERMAL ENERGY STORAGE MARKET VALUE, MARKET SHARE AND FORECAST TO 2031
6.1. Asia Pacific Molten Salt Thermal Energy Storage Market Overview, 2023
6.2. Asia Pacific Molten Salt Thermal Energy Storage Market Size and Share Outlook by Technology, 2023-2031
6.3. Asia Pacific Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Capacity, 2023-2031
6.4. Asia Pacific Molten Salt Thermal Energy Storage Market Size and Share Outlook by End-use, 2023-2031
6.5. Asia Pacific Molten Salt Thermal Energy Storage Market Size and Share Outlook by Country, 2023-2031
6.5.1. China
6.5.2. Japan
6.5.3. India
6.5.4. Rest of Asia Pacific
7. SOUTH AND CENTRAL AMERICA MOLTEN SALT THERMAL ENERGY STORAGE MARKET VALUE, MARKET SHARE AND FORECAST TO 2031
7.1. South and Central America Molten Salt Thermal Energy Storage Market Overview, 2023
7.2. South and Central America Molten Salt Thermal Energy Storage Market Size and Share Outlook by Technology, 2023-2031
7.3. South and Central America Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Capacity, 2023-2031
7.4. South and Central America Molten Salt Thermal Energy Storage Market Size and Share Outlook by End-use, 2023-2031
7.5. South and Central America Molten Salt Thermal Energy Storage Market Size and Share Outlook by Country, 2023-2031
7.5.1. Brazil
7.5.2. Chile
7.5.3. Rest of South and Central America
8. MIDDLE EAST AFRICA MOLTEN SALT THERMAL ENERGY STORAGE MARKET VALUE, MARKET SHARE, AND FORECAST TO 2031
8.1. Middle East Africa Molten Salt Thermal Energy Storage Market Overview, 2023
8.2. Middle East Africa Molten Salt Thermal Energy Storage Market Size and Share Outlook by Technology, 2023-2031
8.3. Middle East Africa Molten Salt Thermal Energy Storage Market Size and Share Outlook, By Capacity, 2023-2031
8.4. Middle East Africa Molten Salt Thermal Energy Storage Market Size and Share Outlook by End-use, 2023-2031
8.5. Middle East Africa Molten Salt Thermal Energy Storage Market Size and Share Outlook by Country, 2023-2031
8.5.1. Middle East
8.5.2. Africa
9. MOLTEN SALT THERMAL ENERGY STORAGE MARKET STRUCTURE
9.1. Abengoa SA
9.2. Schott AG
9.3. BASF SE
9.4. Siemens AG
9.5. Alfa Laval AB
10. APPENDIX
10.1. About Us
10.2. Sources
10.3. Research Methodology
10.4. Contact Information
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