diff --git a/README.md b/README.md
index 166596b..61d3894 100644
--- a/README.md
+++ b/README.md
@@ -1,14 +1,17 @@
 # IDF Component Manager
 
 The IDF Component Manager is a tool that ensures the correct versions of all components required for a successful build are present in your [ESP-IDF](https://www.espressif.com/en/products/sdks/esp-idf) project.
+
 - The Component Manager downloads the dependencies for your project automatically during a `CMake` run.
 - The components can be sourced either from [the ESP Component Registry](https://components.espressif.com/) or from a Git repository.
 - A list of components can be found at https://components.espressif.com/
 
 ## Contributing to the project
+
 See [CONTRIBUTING.md](CONTRIBUTING.md)
 
 ## Resources
+
 - [Offical Documentation at docs.espressif.com](https://docs.espressif.com/projects/idf-component-manager/en/latest/)
 - The Python Package Index project page https://pypi.org/project/idf-component-manager/
 - The Component Manager section in the [ESP-IDF Programming Guide](https://docs.espressif.com/projects/esp-idf/en/latest/esp32/api-guides/tools/idf-component-manager.html)
@@ -43,7 +46,6 @@ python -m pip uninstall -y idf-component-manager
 python -m pip install git+https://github.com/espressif/idf-component-manager.git@main
 ```
 
-
 ## Disabling the Component Manager
 
 The Component Manager can be explicitly disabled by setting `IDF_COMPONENT_MANAGER` environment variable to `0`.
@@ -164,3 +166,4 @@ examples:
 | IDF_COMPONENT_SUPPRESS_UNKNOWN_FILE_WARNINGS | 0                                       | Ignore unknown files in managed_components directory                                                          |
 | IDF_COMPONENT_CHECK_NEW_VERSION              | 1                                       | Check for new versions of components                                                                          |
 | IDF_COMPONENT_VERIFY_SSL                     | 1                                       | Verify SSL certificates when making requests to the registry, set it 0 to disable or provide a CA bundle path |
+| IDF_COMPONENT_CACHE_HTTP_REQUESTS            | 1                                       | Cache HTTP requests to the registry during runtime, set it 0 to disable                                       |
diff --git a/idf_component_tools/environment.py b/idf_component_tools/environment.py
index c1b781b..07905da 100644
--- a/idf_component_tools/environment.py
+++ b/idf_component_tools/environment.py
@@ -109,6 +109,7 @@ class ComponentManagerSettings(BaseSettings):
     )
     API_TOKEN: t.Optional[str] = None
     VERIFY_SSL: t.Union[bool, str] = True
+    CACHE_HTTP_REQUESTS: bool = True
     PROFILE: t.Optional[str] = Field(
         default=None,
         validation_alias=AliasChoices(
diff --git a/idf_component_tools/registry/base_client.py b/idf_component_tools/registry/base_client.py
index 3525631..aff5c1f 100644
--- a/idf_component_tools/registry/base_client.py
+++ b/idf_component_tools/registry/base_client.py
@@ -2,6 +2,7 @@
 # SPDX-License-Identifier: Apache-2.0
 import platform
 import typing as t
+from functools import lru_cache
 
 import requests
 from requests.adapters import HTTPAdapter
@@ -24,6 +25,7 @@
 MAX_RETRIES = 3
 
 
+@lru_cache(maxsize=None)
 def create_session(
     token: t.Optional[str] = None,
 ) -> requests.Session:
diff --git a/idf_component_tools/registry/request_processor.py b/idf_component_tools/registry/request_processor.py
index 3366cbe..3f22a1c 100644
--- a/idf_component_tools/registry/request_processor.py
+++ b/idf_component_tools/registry/request_processor.py
@@ -9,7 +9,7 @@
 from pydantic import ValidationError
 from requests import Response
 
-from idf_component_tools import ComponentManagerSettings
+from idf_component_tools import ComponentManagerSettings, debug
 
 from .api_models import ApiBaseModel, ErrorResponse
 from .client_errors import (
@@ -25,6 +25,9 @@
     60.1,  #  Read timeout
 )
 
+# Storage for caching requests
+_request_cache: t.Dict[t.Tuple[t.Any], Response] = {}
+
 
 def join_url(*args) -> str:
     """
@@ -34,6 +37,23 @@ def join_url(*args) -> str:
     return '/'.join(parts)
 
 
+def cache_request(func):
+    """Decorator to conditionally cache function output based on CACHE_HTTP_REQUESTS"""
+
+    def wrapper(*args, **kwargs):
+        if ComponentManagerSettings().CACHE_HTTP_REQUESTS:
+            cache_key = (args, frozenset(kwargs.items()))
+            if cache_key in _request_cache:
+                return _request_cache[cache_key]
+            result = func(*args, **kwargs)
+            _request_cache[cache_key] = result
+            return result
+        return func(*args, **kwargs)
+
+    return wrapper
+
+
+@cache_request
 def make_request(
     method: str,
     session: requests.Session,
@@ -44,6 +64,7 @@ def make_request(
     timeout: t.Union[float, t.Tuple[float, float]],
 ) -> Response:
     try:
+        debug(f'HTTP request: {method.upper()} {endpoint}')
         response = session.request(
             method,
             endpoint,
@@ -59,6 +80,7 @@ def make_request(
     except requests.exceptions.RequestException as e:
         raise APIClientError(f'HTTP request error {e}', endpoint=endpoint)
 
+    debug(f'HTTP response: {response.status_code} total: {response.elapsed.total_seconds()}s')
     return response
 
 
diff --git a/tests/conftest.py b/tests/conftest.py
index ad5ed45..d2598da 100644
--- a/tests/conftest.py
+++ b/tests/conftest.py
@@ -36,6 +36,11 @@ def monkeypatch_idf_version_and_tools_path(monkeypatch, tmp_path):
     monkeypatch.setenv('IDF_TOOLS_PATH', str(tmp_path))
 
 
+@pytest.fixture(autouse=True)
+def monkeypatch_disable_request_cache(monkeypatch):
+    monkeypatch.setenv('IDF_COMPONENT_CACHE_HTTP_REQUESTS', '0')
+
+
 @pytest.fixture()
 def valid_manifest():
     return {