Molten Salt Thermal Energy Storage Market Report 2026

The molten salt thermal energy storage market size has grown rapidly in recent years. It will grow from $5.46 billion in 2025 to $6.23 billion in 2026 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increasing installation of parabolic trough systems, rising deployment of power tower technologies, growing adoption of fresnel reflector plants, increasing use of molten salts for thermal energy storage, rising focus on renewable energy integration.

The molten salt thermal energy storage market size is expected to see rapid growth in the next few years. It will grow to $10.47 billion in 2030 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to increasing development of high-capacity molten salt tes systems, rising integration with hvac and heat transfer fluid systems, growing adoption in residential and commercial sectors, increasing investment in industrial thermal storage applications, rising focus on energy efficiency and peak load management. Major trends in the forecast period include increasing adoption of sensible heat storage systems, rising use of latent heat storage with phase change materials, growing deployment of thermochemical heat storage solutions, expansion of csp plants with molten salt tes, increasing integration with combined heat and power generators.

The increasing demand for renewable energy is expected to drive the growth of the molten salt thermal energy storage market in the coming years. Renewable energy is derived from natural, continuously replenished sources, and its rising demand is fueled by the need to lower greenhouse gas emissions, mitigate climate change, and transition to cleaner, more sustainable energy alternatives compared to fossil fuels. Molten salt thermal energy storage is used in renewable energy systems, particularly in concentrated solar power, to store excess thermal energy, allowing for a continuous energy supply even when solar power generation is not possible. This improves both efficiency and reliability. For example, in September 2024, the U.S. Energy Information Administration (EIA) reported that renewable energy made up about 9% (8.2 quadrillion BTUs) of total U.S. energy consumption in 2023, with the electric power sector consuming roughly 39% of this, and renewables accounting for approximately 21% of the country’s electricity generation. As a result, the rising demand for renewable energy is boosting the growth of the molten salt thermal energy storage market.

Key players in the molten salt thermal energy storage market are focusing on innovative technologies, such as molten hydroxide salt energy storage, to advance renewable energy solutions and reduce greenhouse gas emissions, especially in industrial heat applications. Molten hydroxide salt energy storage is a technology that uses molten hydroxide salts to store thermal energy. This approach efficiently stores heat from renewable sources, which can be later used as heat or steam for electricity generation or industrial processes. For instance, in April 2024, Hyme Energy, a Denmark-based sustainable energy firm, unveiled the world’s first molten salt energy storage facility. Designed to store excess renewable energy during peak production and release it during lower production periods, this facility functions similarly to a highly efficient battery. It utilizes molten hydroxide salt to store energy at high temperatures, providing a reliable and sustainable energy reserve during periods of low renewable energy production.

In April 2024, Sulzer Ltd., a Switzerland-based industrial engineering company, partnered with Hyme Energy to commercialize its patented molten hydroxide salt energy storage solution for industrial heat applications. Through this collaboration, Sulzer and Hyme Energy aim to advance molten salt thermal energy storage technology, enabling the storage of renewable energy at high temperatures and its conversion into steam for industrial processes. Hyme Energy ApS, based in Denmark, develops molten salt solutions to support industrial decarbonization and the global energy transition.

Major companies operating in the molten salt thermal energy storage market are Engie SA, Siemens AG, Mitsubishi Hitachi Power Systems, Acciona S.A., Abengoa SA, SENER Grupo de Ingenieria S.A., Kraftanlagen München GmbH, Ferrostaal AG, Torresol Energy Group, BrightSource Energy Inc., CSP Services, Aalborg CSP, TSK Group, HeliosCSP, SolarReserve LLC, ACWA Power, Shanghai Electric Group, Abener Energia, Abengoa CSP, Cobra Instalaciones y Servicios.

Europe was the largest region in the molten salt thermal energy storage market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molten salt thermal energy storage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the molten salt thermal energy storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The molten salt thermal energy storage market consists of sales of tanks, heat exchangers, and pumps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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