Molten Salt Battery Market Introduction and Overview
According to SPER Market Research, the Global Molten Salt Battery Market is estimated to reach USD 7.33 billion by 2033 with a CAGR of 16.71%.
The report includes an in-depth analysis of the Global Molten Salt Battery Market, including market size and trends, product mix, applications, and supplier analysis. Molten-salt batteries are a type of battery that has a high-power density and high energy density. They work by using molten salts as an electrolyte. Traditional non-rechargeable thermal batteries require heating to activate, but they can be stored in their solid state at room temperature for long periods of time. Specialised electric vehicles, industrial power backup, grid energy storage, and balancing intermittent renewable power sources like solar panels and wind turbines all require rechargeable liquid-metal batteries.
- June 2019; NGK Insulators, Ltd. and BASF New Business GmbH signed a sales cooperation agreement to sell NGK's sodium sulphur batteries through its international networks.
- May 2019; the Noor III CSP tower in Morocco is producing outputs that are higher than expected. Using molten salt storage technology, the plant is one of the biggest operational CSP power plants in the world.
Market Opportunities and Challenges
Increasing need for grid stability solutions, integration of renewable energy, government policies that are favourable, incentives that encourage the use of renewable energy, and rising investments in renewable energy projects globally are the drivers propelling the market's expansion. The necessity for effective energy storage systems to counterbalance the intermittent nature of renewable energy sources is also driving the market growth. The market is hampered by two factors, high initial investment costs and a lack of knowledge about molten salt battery technology. Obstacles in increasing output to supply the increasing demand may potentially impede market expansion. Concerns about how molten salt battery materials affect the environment should also be taken into account as a barrier to the market's expansion.
Market Competitive Landscape
The molten salt battery market is extremely competitive, with several significant players operating on a national and worldwide scale. Businesses are investing in research and development programmes to enhance battery performance and broaden their product options. Market players commonly engage in strategic alliances, partnerships, mergers, and acquisitions. The major players in the Global Molten Salt Battery Market include: Ambri Inc., Energy Storage System Inc., EnergyNest AS, Enevate Corporation, Enphase Energy, Inc., FZSoNick, Halotechnics, Inc., NGK Insulators, Ltd., SolarReserve, LLC, Sumitomo Electric Industries, Ltd. and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Application, By Type
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Ambri Inc., Energy Storage System Inc., EnergyNest AS, Enevate Corporation, Enphase Energy, Inc., FZSoNick, Halotechnics, Inc., NGK Insulators, Ltd., SolarReserve, LLC, Sumitomo Electric Industries, Ltd. and others.
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COVID-19 Impact on Global Molten Salt Battery Market
The market for molten salt batteries was affected by the Covid-19 epidemic in many ways. Although the market's growth was first hampered by supply chain interruptions and construction-related activities, chances for expansion were later presented by the market's recovery and the increased emphasis placed on renewable energy in plans for economic recovery.
Key Target Audience:
- Renewable Energy Developers
- Electric Vehicle Manufacturers
- Energy Storage Companies
- Utility Providers
- Investors and Venture Capital Firms
Our in-depth analysis of the Molten Salt Battery Market includes the following segments:
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By Application: |
Concentrated Solar Power
Electric Vehicles
Grid Storage
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By Type: |
Lithium-based
Potassium-based
Sodium-based
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By Region: |
Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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Key Topics Covered in the Report:
- Global Molten Salt Battery Market Size (FY’2023-FY’2033)
- Overview of Global Molten Salt Battery Market
- Segmentation of Global Molten Salt Battery Market By Application (Concentrated Solar Power, Electric Vehicles, Grid Storage)
- Segmentation of Global Molten Salt Battery Market By Type (Lithium-based, Potassium-based, Sodium-based)
- Statistical Snap of Global Molten Salt Battery Market
- Expansion Analysis of Global Molten Salt Battery Market
- Problems and Obstacles in Global Molten Salt Battery Market
- Competitive Landscape in the Global Molten Salt Battery Market
- Impact of COVID-19 and Demonetization on Global Molten Salt Battery Market
- Details on Current Investment in Global Molten Salt Battery Market
- Competitive Analysis of Global Molten Salt Battery Market
- Prominent Players in the Global Molten Salt Battery Market
- SWOT Analysis of Global Molten Salt Battery Market
- Global Molten Salt Battery Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Molten Salt Battery Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Molten Salt Battery Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Molten Salt Battery Market
7. Global Molten Salt Battery Market, By Application (USD Million)
7.1. Global Molten Salt Battery Market Value Share and Forecast, By Application, 2023-2033
7.2. Concentrated Solar Power
7.3. Electric Vehicles
7.4. Grid Storage
8. Global Molten Salt Battery Market, By Type (USD Million)
8.1. Global Molten Salt Battery Market Value Share and Forecast, By Type, 2023-2033
8.2. Lithium-based
8.3. Potassium-based
8.4. Sodium-based
9. Global Molten Salt Battery Market Forecast, 2019-2033 (USD Million)
9.1. Global Molten Salt Battery Market Size and Market Share
10. Global Molten Salt Battery Market, By Application 2019-2033 (USD Million)
10.1. Global Molten Salt Battery Market Size and Market Share By Application (2019-2026)
10.2. Global Molten Salt Battery Market Size and Market Share By Application (2027-2033)
11. Global Molten Salt Battery Market, By Type, 2019-2033 (USD Million)
11.1. Global Molten Salt Battery Market Size and Market Share By Type (2019-2026)
11.2. Global Molten Salt Battery Market Size and Market Share By Type (2027-2033)
12. Global Molten Salt Battery Market, By Region, 2019-2033 (USD Million)
12.1. Global Molten Salt Battery Market Size and Market Share By Region (2019-2026)
12.2. Global Molten Salt Battery Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. Ambri Inc.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Energy Storage System Inc.
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. EnergyNest AS
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Enevate Corporation
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Enphase Energy, Inc.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. FZSoNick
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Halotechnics, Inc.
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. NGK Insulators, Ltd.
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. SolarReserve, LLC
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Sumitomo Electric Industries, Ltd.
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
