Molten Salt Thermal Energy Storage Market to Expand at CAGR of 25.1% During Forecast Period, Observes TMR Study

- Presence of a reliable power transmission infrastructure is likely to drive the global molten salt thermal energy storage market during the forecast period

- Considerable growth of the molten salt thermal energy storage market can be attributed to the transition to energy generation from non-renewable to renewable sources

ALBANY, N.Y., Feb. 7, 2022 /PRNewswire/ -- The global molten salt thermal energy storage market was valued at US$ 1.4 Bn in 2020. The global market is estimated to rise at a CAGR of 25.1% during the forecast period, from 2021 to 2031. The global molten salt thermal energy storage market is likely to attain the value of US$ 17 Bn by the end of 2031.

Micro- and macroeconomic aspects are being assessed by firms in the global molten salt thermal energy storage market to ensure business continuity amid the ongoing coronavirus epidemic. In industrial processes, molten salts play an important role in energy optimization.

Despite molten salts becoming more popular as a practical thermal energy storage option, their relatively high melting point causes them to harden in pipes in the absence of heat. As a result, industry participants in the global molten salt thermal energy storage market are becoming more conscious of the importance of installing anti-freeze systems. Innovative and cost-effective molten salt Nano-composites based on nanodiamonds have intriguing potentials as heat transfer fluids and thermal energy storage medium.

The growth of the solar energy industry is critical to the expansion of the global molten salt thermal energy storage market. New opportunities for renewable energy generation have emerged, as the energy sector embraces diversity of use. The energy sector is aiming to build additional platforms for renewable energy generation. Offshore wind farms, large solar plants, and biofuel stations can all benefit from the energy generated by these subsidiary platforms.

Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6478 

Key Findings of Market Report

• Firms in the molten salt thermal energy storage market are taking advantage of this opportunity to expand their services, as the energy sector is consistently attempting to lower its considerable CO2 emissions. Molten salt thermal energy storage is used to stabilize the grid as renewable energies, such as solar and wind power, are connected to variations in electricity supply.
• Molten salts have the ability to produce reliable power production and energy storage solutions, allowing consumers to save money on energy and cut carbon emissions while strengthening energy supply security
• Rise of the molten salt thermal energy storage market is being fueled by long-term storage of renewable energy as well as decarbonized power production trends. Molten salts aid in the storage of thermal energy for use during periods with less or no sunlight.
• Government funding and high-priority research and development programs, particularly for molten salt thermal energy storage, are bolstering the demand for variable renewable energy

Ask for Special Discount on Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=6478 

Global Molten Salt Thermal Energy Storage Market: Growth Drivers

• Molten salt thermal energy storage adds a distinct value to the power sector. It can be used to complement or magnify current energy transmission and distribution infrastructures. Many locations are looking for this component since there is a significant need for better electricity transmission as well as distribution infrastructure.
• Europe accounted for 78.2% share of the total value of molten salt thermal energy storage units in 2020. This can be ascribed to the region's early adoption of molten salt thermal energy storage, which was prompted by rigorous rules governing emission standards and renewable energy consumption.

Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6478 

Global Molten Salt Thermal Energy Storage Market: Key Players

Some of the key market players are

• Pratt and Whitney Rocketdyne, Inc
• Acconia S.A.
• BrightSource Energy, Inc.
• Siemens AG
• Abengoa Solar S.A.
• Areva S.A.

Buy an Exclusive Research Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=6478&ltype=S

Global Molten Salt Thermal Energy Storage Market: Segmentation

Molten Salt Thermal Energy Storage Market, by Region

• North America
• U.S.
• Canada
• Europe
• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• South Africa
• Israel
• Others

Energy & Natural Resources Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Energy & Natural Resources:

Low Voltage AC Drive Market - https://www.transparencymarketresearch.com/low-voltage-ac-drive-market.html 

White Pellet Market - https://www.transparencymarketresearch.com/white-pellet-market.html 

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com 
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/molten-salt-thermal-energy-storage-market.htm

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg