The global molten salt solar energy thermal storage and concentrated solar power (CSP) market is anticipated to grow at a CAGR of 18.7% during the forecast period. The primary factor supporting the market growth includes the growing demand for newly sourced of renewable energy. As fossil fuel sources continue to fade, a serious energy crisis is affecting the globe. As a result of this, several known environmentalists and energy experts have created reliable techniques for the production of renewable energy, which in turn is expected to bolster the growth of the molten salt solar energy storage and CSP market. Hence, such a transition from non-renewable to renewable sources of energy is expected to bolster the growth of the market across the globe. According to the IEA, global installed storage capacity is forecast to expand by 56% in the next 3 years to reach over 270 GW by 2026.
Browse the full report description of “Molten Salt Solar Energy Thermal Storage and Concentrated Solar Power (CSP) Market Size, Share & Trends Analysis Report by Type (Parabolic Trough Systems, Power Tower Systems, Dish/ Engine Systems, and Others), and by Application (Generate Electricity, Industrial Heating, and Others) Forecast Period (2023-2029)” at https://www.omrglobal.com/industry-reports/molten-salt-solar-energy-thermal-storage-and-concentrated-solar-power-csp-market
Furthermore, molten salt thermal power stations are nowadays high in demand due to the growing necessity to supplement massive solar power facilities. It is anticipated that regional and international organizations would make large investments in the energy industry. For instance, in April 2019, Vattenfall, together with the Swedish company SaltX Technology tested the storage capabilities of renewable wind and solar power in salt. In experiments, SaltX's patented technology has proven to be able to store up to ten times more energy for much longer periods than water. The technology will be tested for the first time on an industrial scale at a pilot plant in Vattenfall’s Reuter thermal power plant in Berlin, in 2024. Additionally, it is predicted that the MSTES market would be driven in the near future by an increase in the need for power throughout the industrial sector.
Market Coverage
• The market number available for – 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Abengoa SA, Acciona SA, ACWA Power, Brightsource Energy Inc., Engie SA, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Molten Salt Solar Energy Thermal Storage and CSP Market Report Segment
By Type
By Application
Global Molten Salt Solar Energy Thermal Storage and CSP Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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