The Global Market for High Temperature Energy Storage (HiTES) is Projected to Reach US$2.0 Billion by 2020

Rising Prominence of Concentrated Solar Power Drives the High Temperature Energy Storage Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global High Temperature Energy Storage (HiTES) market. The global market for High Temperature Energy Storage (HiTES) is projected to reach US$2.0 billion by 2020, driven by the surging popularity of concentrated solar power (CSP) across the world and rising investments in molten salt storage-based CSP plants.

High temperature energy storage (HiTES) are both thermal and chemical in nature and are used in a range of applications including grid load levelling, integration of renewable energies and stationary storage, among others. The HiTES market comprises three primary battery chemistries including NaS (Sodium-Sulfur), NaMx (Sodium Metal Halide), and Molten Salt Storage. Superior attributes of HiTES technologies over other energy storage options include significantly low CAPEX and longer life cycle that exceeds 25 years. Additionally, due to high temperature, they are easy to operate even at extremely high energy densities. They are eco-friendly and hence can be termed as ‘Green Energy Storage’ as they do not cause waste issues encountered by other energy storage technologies.

Strong growth is projected for the high temperature energy storage market driven by rising prominence of renewable energy sources (RES), favourable regulatory environment, and robust demand from concentrated solar thermal power plants. CSP plants captures and stores the solar power with molten salt energy storage for efficient, cost-effective, and eco-friendly supply of electricity in times of need. Against a backdrop of robust global demand for cost-friendly and reliable solar power, molten salt energy storage technology is expected to achieve significant penetration as it plays a vital role in the implementation of utility scale solar power generation systems through steam turbines. The technology has the potential to generate vast amounts of sustainable electric power. Other factors poised to benefit market expansion include the growing need for energy independence, surging demand for energy, climate change, and rising costs of energy, which have brought renewable energy sources into the limelight and the greater need for efficient energy storage development.

As stated by the new market research report on High Temperature Energy Storage (HiTES), Molten Salt Thermal Energy Storage (TES) represents the largest battery chemistry. NaMx Batteries represent the fastest growing segment with a CAGR of 24% over the analysis period. Molten salt storage systems outpaced the hitherto dominant NaS batteries to emerge as the dominant category driven primarily by an increased interest across the world on renewable sources of energy, particularly solar power. The primary factor responsible for the declining popularity of NaS batteries include decline in the number of energy storage systems designed around these battery types.

Key players covered in the report include Abengoa Solar, S.A., ACCIONA Energy S.A., Archimede Solar Energy, Areva S.A.S, Bertrams Heatec AG, BrightSource Energy, Inc., FZ SoNick, General Electric Company, Idhelio, NGK Insulators, Ltd., Schott AG, SENER Group, Siemens AG, SolarReserve, LLC., Sumitomo Electric Industries, Ltd., and TSK Flagsol, among others.

The research report titled “High Temperature Energy Storage (HiTES): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides global market estimates and projections in value (revenues in US$ Million) for battery chemistries including Molten Salt, NaS, and NaMx.


Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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