The global concentrated solar power market was valued at $ 3,793.0 million in 2018 and is projected to reach $ 8,046.7 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The MEA region accounted for nearly 21.0% market share in 2018.
CSP utilizes mirror configurations to concentrate the solar light energy onto a receiver. It then converts the energy into heat, which can be used further to drive a turbine, produce electrical power or use in an industrial process. At present, the global concentrated solar power market witnesses’ numerous opportunities, owing to rapid increase in development of renewable power in Asia-Pacific and LAMEA to cope up with the increase in electricity demand.
In addition, the concentrated solar power market is enhanced by domestic laws and rise in solar installation projects. In the developed economies such as the U.S., concentrated solar power has proved to be a viable alternative at the time of peak power needs. Moreover, increase in adoption of renewable technologies coupled with rise in energy demand fuels the growth of the market. However, high cost acquired during CSP energy production hampers the market growth during the forecast period. Nevertheless, rise in investment from different industries in renewable sources and increase in acceptance of heat storage systems are anticipated to provide growth opportunities for the global concentrated solar power market.
The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the market is divided into parabolic trough, solar power tower, Fresnel reflectors, and dish Stirling. On the basis of end user industry, it is classified into residential, commercial, and industrial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global concentrated solar power market include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frenell GMBH, and Siemens.
KEY BENEFITS FOR STAKEHOLDERS
By Technology
By End User Industry
By Region
o Canada
o Italy
o Spain
o Rest of Europe
o India
o Australia
o Rest of Asia-Pacific
o Morocco
o UAE
o Egypt
o Rest of LAMEA
CSP utilizes mirror configurations to concentrate the solar light energy onto a receiver. It then converts the energy into heat, which can be used further to drive a turbine, produce electrical power or use in an industrial process. At present, the global concentrated solar power market witnesses’ numerous opportunities, owing to rapid increase in development of renewable power in Asia-Pacific and LAMEA to cope up with the increase in electricity demand.
In addition, the concentrated solar power market is enhanced by domestic laws and rise in solar installation projects. In the developed economies such as the U.S., concentrated solar power has proved to be a viable alternative at the time of peak power needs. Moreover, increase in adoption of renewable technologies coupled with rise in energy demand fuels the growth of the market. However, high cost acquired during CSP energy production hampers the market growth during the forecast period. Nevertheless, rise in investment from different industries in renewable sources and increase in acceptance of heat storage systems are anticipated to provide growth opportunities for the global concentrated solar power market.
The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the market is divided into parabolic trough, solar power tower, Fresnel reflectors, and dish Stirling. On the basis of end user industry, it is classified into residential, commercial, and industrial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global concentrated solar power market include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frenell GMBH, and Siemens.
KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the concentrated solar power industry for strategy building.
- It outlines the current trends and future scenario of the global market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the report.
By Technology
- Parabolic Trough
- Solar power Tower
- Fresnel Reflectors
- Dish Stirling
By End User Industry
- Residential
- Commercial
- Industrial
By Region
- North America
o Canada
- Europe
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o India
o Australia
o Rest of Asia-Pacific
- LAMEA
o Morocco
o UAE
o Egypt
o Rest of LAMEA
Frequently Asked Questions about the Global Concentrated Solar Power Market
What is the estimated value of the Global Concentrated Solar Power Market?
What is the growth rate of the Global Concentrated Solar Power Market?
What is the forecasted size of the Global Concentrated Solar Power Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 202 |
| Published | July 2019 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 3793 million |
| Forecasted Market Value ( USD | $ 8046.7 million |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONCENTRATED SOLAR POWER MARKET, BY TECHNOLOGY
CHAPTER 5: CONCENTRATED SOLAR POWER MARKET, BY END-USER INDUSTRY
CHAPTER 6: CONCENTRATED SOLAR POWER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
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Executive Summary
Concentrated Solar Power (CSP) Market Report, forecasts that the global Concentrated Solar Power market was valued at $ 3,793.0 million in 2018 and is projected to reach $ 8,046.7 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The MEA region accounted for nearly 21.0% market share in 2018.CSP is generated in plants that utilize mirrors to focus the sun's energy on panel to create electricity or drive traditional steam turbines or engines. The thermal energy focused in a CSP plant can be used and stored to produce electricity when needed. Growing government support to adopt renewable technologies is expected to boost the demand for concentrated solar power plant. Rise in energy demand & concentrated solar power capability to supply dispatchable power also drives the growth of the market.
Growth in environmental issues based on carbon emissions results in focus to decrease air pollution. This in turn raise demand for renewable energy such as solar energy. Thus, these factors are also anticipated to support the expansion of the market. However, high cost experienced during Concentrated Solar Power energy production restraints the market growth during the forecast period. Moreover, rise in investment from different industries in renewable sources provide lucrative opportunity for the market growth.
The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the market is divided into parabolic trough, solar power tower, Fresnel reflectors, and dish Stirling. Based on technology, the parabolic trough segment dominated the market in 2017, owing to growing demand of electricity generation from parabolic trough technology.
On the basis of end user industry, the market is classified into residential, commercial, and industrial. Based on end use industry, the industrial segment is expected to grow with the highest CAGR during the forecast period.
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Based on region, Europe holds a dominant position in the global concentrated solar power market share and MEA is attributed to be the fastest growing region. The Asia-Pacific concentrated solar power market offers lucrative opportunities for key manufacturers, owing to rapid installation capacity of solar energy to increase renewable generation. In addition, China is actively boosting the growth of the market to cope up with its severe pollution problems and develop its domestic manufacturing industry. Furthermore, availability of low labor has led to increase in energy production through concentrated solar power, which fuels the growth of the market.
The key players contributing in the global concentrated solar power market growth include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frennel GMBH, and Siemens.
Key Findings of Concentrated Solar Power Market:
The Industrial segment of concentrated solar powers market is predicted to grow with a CAGR 10.6% during 2019-2026.
The Solar Power Tower segment is expected to grow with the highest CAGR in the global Concentrated Solar Power market size in terms of revenue, over the projected period.
The Europe region held a share of over 41% in 2018 and is projected to grow to 10.1% by 2026.
The qualitative data in the report aims on the concentrated solar power market trends, dynamics, and developments in the concentrated solar power industry while the quantitative data provide information of the size in terms of revenue.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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