Molten Salt Solar Energy Thermal Storage Market Expected to Overgrow in the Next Few Years With Key Players Salt X, Vattenfall, Bright Source Energy

• During the forecast period, the molten salt solar energy thermal storage and concentrated solar power (CSP) market is projected to grow at a CAGR of 18.5%.

• The market's growth is primarily attributed to the rising demand for renewable energy sources due to the energy crisis caused by the depletion of fossil fuels worldwide. Energy experts and environmentalists have created reliable techniques to produce renewable energy, which is expected to propel the growth of the molten salt solar energy storage and CSP market.

• The transition from non-renewable to renewable sources of energy is expected to drive the growth of the market across the globe.


• According to the IEA, global installed storage capacity is expected to increase by 54% in the next three years, reaching over 268 GW by 2026. The molten salt thermal power stations are in high demand due to their ability to supplement massive solar power facilities.

• Regional and international organizations are expected to make significant investments in the energy industry. For example, Vattenfall and SaltX Technology tested the storage capabilities of renewable wind and solar power in salt, demonstrating that SaltX's patented technology can store up to ten times more energy for longer periods than water. The need for power in the industrial sector is expected to drive the MSTES market's growth in the near future.

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Growth factors and regional analysis:

• The report states that the increasing demand for renewable energy sources, coupled with the need for energy storage solutions, is driving the growth of the molten salt solar energy thermal storage market. Molten salt thermal storage systems are gaining popularity due to their ability to store large amounts of energy in a cost-effective and efficient manner. This makes them an attractive option for utility-scale solar power plants.

• The report also highlights that the Asia Pacific region is expected to dominate the molten salt solar energy thermal storage market in the coming years. This can be attributed to the increasing investments in renewable energy projects in countries such as China, India, and Japan.




Market analysis:

Key Companies Profile in the Report:
BrightSource Energy
Abengoa
Areva
Acciona
ESolar
SolarReserve
Wilson Solarpower
Novatec
Shams Power
ACWA
SUPCON
Thai Solar Energy
Sunhome

By Type:
Parabolic Trough Systems
Power Tower Systems.

By Application
Generate electricity
Industrial heating.





Recent news and developments:

Hyme Energy, a company based in Denmark, has created an innovative energy storage solution that utilizes a special type of salt called sodium hydroxide, which has remarkable heat retention properties and can endure temperatures as high as 1,292°F.

By teaming up, Hyme Energy and Bornholms Energi & Forsyning are in the process of constructing a test program designed to preserve renewable electricity through the use of molten salt. It is anticipated that this energy storage system will commence providing ancillary services, heat, and electricity by the year 2024.

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Various factors covered in the report:

• The report comprehensively covers various aspects of the market, including key market players, raw material suppliers, equipment suppliers, end users, traders, and distributors, among others.

• Detailed profiles of the companies are provided, which encompass information such as their capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and technological developments.

• The report analyzes 12 years of historical data and provides a forecast. It discusses the growth drivers of the market and provides a detailed explanation of the various end users.

• The report also includes data and information categorized by the market player, region, type, application, and more, and can be customized according to specific requirements. The SWOT analysis of the market is presented, and the report concludes with opinions from industry experts.




Why should you buy this report?

• The report offers several compelling reasons to purchase, including gaining valuable insights and a comprehensive understanding of the global market and its commercial landscape, evaluating production processes, identifying major issues, and proposing solutions to mitigate development risks.

• Additionally, readers can comprehend the industry's significant driving and restraining forces and their impact on the global market. The report also highlights the market strategies used by the most successful companies in the field and provides an understanding of the future outlook and prospects for the market.


• Apart from standard structured reports, custom research can also be provided based on specific requirements.

• The report focuses on the global market size of Molten Salt Solar Energy Thermal Storage from 2015-2022, covering the top 10 regions and top 50 countries. It also provides a development forecast for 2021-2030, including details on industries, major players/suppliers worldwide, and market share by region.


• The report includes company and product introductions, market position, market status, development trends by types and applications, pricing and profit status, marketing status, and market growth drivers and challenges, with the base year being 2021.

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