PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1758857
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1758857
Global Molten Salt Thermal Energy Storage Market to Reach US$4.0 Billion by 2030
The global market for Molten Salt Thermal Energy Storage estimated at US$2.2 Billion in the year 2024, is expected to reach US$4.0 Billion by 2030, growing at a CAGR of 10.6% over the analysis period 2024-2030. Concentrated Solar Power Plants, one of the segments analyzed in the report, is expected to record a 11.7% CAGR and reach US$1.9 Billion by the end of the analysis period. Growth in the Industrial Heating segment is estimated at 11.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$573.8 Million While China is Forecast to Grow at 10.1% CAGR
The Molten Salt Thermal Energy Storage market in the U.S. is estimated at US$573.8 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$630.2 Million by the year 2030 trailing a CAGR of 10.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 9.8% and 8.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.
Global Molten Salt Thermal Energy Storage Market - Key Trends & Drivers Summarized
Why Is Molten Salt Emerging as a Critical Medium in Thermal Energy Storage?
Molten salt thermal energy storage (TES) is a proven and increasingly vital technology for concentrating solar power (CSP) plants, enabling energy to be stored as heat and dispatched when sunlight is not available. This storage method typically uses a blend of sodium and potassium nitrate salts, which can be heated up to 600°C, allowing large-scale thermal energy retention with minimal degradation. By decoupling energy generation from energy dispatch, molten salt TES enhances the reliability and grid stability of renewable power plants.
Unlike battery storage systems, molten salt storage is especially advantageous in utility-scale applications where high energy capacity and long-duration discharge are required. It plays a critical role in peak-load balancing and supports dispatchable clean energy-a key advantage as grids transition from fossil fuels to intermittent renewable sources like solar and wind. As demand for decarbonized baseload power increases, molten salt TES is proving to be a commercially viable solution for 24/7 renewable electricity delivery.
What Engineering Innovations Are Improving Efficiency and Operational Safety?
Modern molten salt TES systems have evolved through improvements in tank insulation, pipe metallurgy, and fluid dynamics to reduce heat losses and extend system life. Two-tank direct systems, where salt is both the heat transfer fluid and the storage medium, dominate the market due to their cost-effectiveness and operational simplicity. Innovations in corrosion-resistant alloys and coatings are addressing long-standing material degradation challenges, particularly at high temperatures.
Integration with supercritical CO2 turbines and hybrid CSP-plus-PV systems is further enhancing overall energy conversion efficiency. Advanced thermal modeling, automated control systems, and predictive maintenance technologies are also reducing downtime and optimizing charge/discharge cycles. Researchers are now exploring ternary salt mixtures to increase operating temperatures beyond 600°C, which could significantly boost round-trip efficiency and reduce storage costs per kilowatt-hour.
Which Applications and Geographies Are Leading Deployment?
Utility-scale solar thermal plants-especially in arid, high-irradiance regions-are the primary adopters of molten salt TES systems. Countries like Spain, the United Arab Emirates, China, and the United States are home to some of the largest installations. In emerging markets, national energy strategies are increasingly integrating CSP with TES to ensure grid reliability and reduce diesel dependency in remote locations.
Beyond energy generation, industrial sectors such as chemical manufacturing and desalination are exploring molten salt systems for process heat applications. Hybrid configurations that combine TES with biomass or waste heat recovery are gaining attention in efforts to decarbonize thermal-intensive processes. Government incentives, clean energy mandates, and energy storage targets are further encouraging regional deployment, especially in sun-rich areas.
The Growth in the Molten Salt Thermal Energy Storage Market Is Driven by Several Factors…
The growth in the molten salt thermal energy storage market is driven by several factors including the expansion of CSP infrastructure, increasing demand for long-duration renewable energy storage, and the need for dispatchable power in decarbonized grids. Technological advances in salt compositions, tank materials, and thermal insulation are improving system performance and cost-efficiency. Supportive energy policies, carbon reduction targets, and grid modernization programs are accelerating adoption in the MENA region, China, and parts of the U.S. Integration with hybrid renewable systems and industrial heat applications is further diversifying use cases, solidifying molten salt TES as a cornerstone of future low-carbon energy systems.
SCOPE OF STUDY:
The report analyzes the Molten Salt Thermal Energy Storage market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Application (Concentrated Solar Power Plants, Industrial Heating, Residential Heating, Other Applications)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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