Market Research Logo

Global Molten Salt Thermal Energy Storage Market 2019-2023

Global Molten Salt Thermal Energy Storage Market 2019-2023

About this market

In the commercial and industrial (C&I) sectors, downtime caused by power outages leads to huge losses for the companies. For commercial and industrial sectors, such as the manufacturing, engineering and construction, pharmaceutical and healthcare, oil and gas, industrial farming, mining, energy, aerospace, petrochemical, warehousing, and distribution sectors, power backup is crucial for smooth operations. Many mission-critical businesses, from data centers to financial institutions, can incur losses by even a short power outage. Morten salt thermal energy storage solutions help reduce utility costs and improve power reliability and quality. Many companies have started investing in energy storage to overcome the challenges with power outages. Therefore, the increased need for power backup across industries will drive the global molten salt thermal energy storage market during the forecast period. Technavio’s analysts have predicted that the molten salt thermal energy storage market will register a CAGR of over 4% by 2023.

Market Overview

Cost savings by ESSs

The rise in demand for power has led to power outages and heavy loads during peak hours in many countries. Power loss during transmission and distribution can cause power outages. Therefore, this ESS helps reduce power bills. The addition of renewables, such as concentrated solar power, into the energy mix drives the demand for molten salt ESSs to store heat that can be converted into electricity.

Regulatory barriers

One of the main procedural issues is the administrative delay in the implementation of new regulations in favor of energy storage, which acts as a barrier to ESSs' deployment. Reasons for this delay include the slow adoption of pay-for-performance and slow progress in considering ESSs as an alternative in planning and procurement process by state public utility commissions. Considering such factors, administrative delay still remains a challenge for ESSs development.

For the detailed list of factors that will drive and challenge the growth of the molten salt thermal energy storage market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Molten Salt Thermal Energy Storage Market 2019-2023

Technavio recognizes the following companies as the key players in the global molten salt thermal energy storage market: Abengoa, Acciona, S.A., ENGIE, SENER group, SolarReserve, LLC.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increased adoption of microgrids will enhance the use of thermal energy storage technologies, such as molten salt thermal energy storage during the forecast period.”

According to the report, one of the major drivers for this market is the increased need for power backup across industries will drive the market during our forecast period.

Further, the report states that one of the major factors hindering the growth of this market is the alternative energy storage technologies will severely hamper the market during the forecast period.

Companies Mentioned

Abengoa

Acciona, S.A.

ENGIE

SENER group

SolarReserve, LLC

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global energy storage market
      • Table Segments of global energy storage market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 (MW)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by technology
    • Table Technology - Market share 2018-2023 (%)
    • Comparison by technology
      • Table Comparison by technology
    • Parabolic trough - Market size and forecast 2018-2023
      • Table Parabolic trough - Market size and forecast 2018-2023 (MW)
      • Table Parabolic trough - Year-over-year growth 2019-2023 (%)
    • Others - Market size and forecast 2018-2023
      • Table Others - Market size and forecast 2018-2023 (MW)
      • Table Others - Year-over-year growth 2019-2023 (%)
    • Market opportunity by technology
      • Table Market opportunity by technology
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 (MW)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 (MW)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 (MW)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision Framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Development of ZEBs
    • Emergence of solar thermal enhanced oil recovery
    • Increased adoption of microgrids
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Abengoa
      • Table Abengoa - Vendor overview
      • Table Abengoa - Product segments
      • Table Abengoa - Organizational developments
      • Table Abengoa - Geographic focus
      • Table Abengoa - Segment focus
      • Table Abengoa - Key offerings
    • Acciona, S.A.
      • Table Acciona, S.A. - Vendor overview
      • Table Acciona, S.A. - Business segments
      • Table Acciona, S.A. - Organizational developments
      • Table Acciona, S.A. - Geographic focus
      • Table Acciona, S.A. - Segment focus
      • Table Acciona, S.A. - Key offerings
    • ENGIE
      • Table ENGIE - Vendor overview
      • Table ENGIE - Business segments
      • Table ENGIE - Organizational developments
      • Table ENGIE - Geographic focus
      • Table ENGIE - Segment focus
      • Table ENGIE - Key offerings
    • SENER group
      • Table SENER group - Vendor overview
      • Table SENER group - Business segments
      • Table SENER group - Organizational developments
      • Table SENER group - Geographic focus
      • Table SENER group - Key offerings
    • SolarReserve, LLC
      • Table SolarReserve, LLC - Vendor overview
      • Table SolarReserve, LLC - Organizational developments
      • Table SolarReserve, LLC - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report