Global Molten Salt Thermal Energy Storage Market 2019-2023

The global molten salt thermal energy storage market size will grow by 660 MW during 2019-2023. The report provides a detailed analysis of the market by technology (parabolic trough and others) and geography (the Americas, APAC, and EMEA). The report analyzes the market’s competitive landscape and offers information on several companies including Abengoa, Acciona, S.A., ENGIE, SENER group, and SolarReserve, LLC.

Some of the key findings from our molten salt thermal energy storage market forecast report are summarized below

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Global molten salt thermal energy storage industry overview

The solar thermal enhanced oil recovery (EOR) method is increasingly being implemented in matured oil wells to increase oil production. The technique involves the adoption of solar energy to produce steam which is then injected into the reservoir to improve the rate of oil production. The oil recovery technique is gaining popularity among end-users as it has a lower carbon footprint than heat generated from natural gas combustion. It is used to store the heat generated by CSP systems for EOR. The increasing adoption of solar thermal EOR will drive the demand for molten salt thermal energy storage fueling market growth.

The increasing adoption of renewable energy sources has boosted the demand for energy storage systems (ESSs) from various market segments including residential houses, utilities, and commercial and industrial companies. Because of its cost-effectiveness, commercial and industrial building owners are increasingly using ESSs to reduce their power bills. Molten salt thermal ESSs enable end-users to generate electricity from stored heat during peak power demand, thereby eliminating the need to draw power from the power grid and avoid peak demand charges. With the addition of concentrated solar power to the energy mix, the demand for molten salt thermal storage will also increase. The global molten salt thermal energy storage market is expected to register a CAGR of over 4% during the forecast period. However, the market’s growth momentum will decrease in the coming years because of the decline in year-over-year growth.

Top companies covered in the molten salt thermal energy storage market research report

The global molten salt thermal energy storage market is fairly fragmented. To help clients improve their revenue share, the research report provides an analysis of the market’s competitive landscape and offers information on the products offered by various leading companies. Additionally, the market analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.

The report offers a detailed analysis of several leading companies, including:

• Abengoa
• Acciona, S.A.
• ENGIE
• SENER group
• SolarReserve, LLC

Molten salt thermal energy storage market segmentation based on technology

• Parabolic trough
• Others

The parabolic trough segment will account for the highest molten salt thermal energy storage market share. The expected start of several molten salt CSP projects with parabolic trough technology is expected to boost the growth of the molten salt thermal energy storage market in the segment.

Molten salt thermal energy storage market segmentation based on geographic region

• Americas
• APAC
• EMEA

With a complete study of the growth opportunities for companies, it has been identified that the EMEA region will account for the highest share of the molten salt thermal energy storage market throughout the forecast period. The extensive use of renewable sources of energy in EMEA to cater to the rising demand for energy will drive molten thermal energy storage market growth in the region

Key highlights of the global molten salt thermal energy storage market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will decelerate the growth of the molten salt thermal energy storage market during the next five years
• Precise estimation of the global molten salt thermal energy storage market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of the companies  

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