by The concentrated solar power market was valued approximately at US$ 41.73 Bn in 2021 and is projected to hit US$ 133.43 Bn by 2030, registering a CAGR of 13.8% every year.
The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2022 to 2030. The concentrated solar power market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
The global concentrated solar power market is primarily driven by the rising adoption of the renewable energy sources owing to the rising government initiatives and curbing the carbon emissions. The increased pollution levels have forced the governments across the globe to frame favorable regulation that can boost the adoption of the renewable and green energy sources. Moreover, the availability of advanced technologies such as Fresnel reflectors, parabolic troughs, and power towers are positively contributing towards the growth of the market.
Technological advancements such as proppants, high temperature salts, and sCO2 facilitate heat transfer with minimum losses. Furthermore, the increasing investments for the development of innovative glass coatings that can reduce the light reflection away from the glass is expected to foster the concentrated solar power market in the forthcoming future. Further, the cheap cost and enhanced efficiencies of the concentrated solar power systems over the solar PV has significantly driven the global concentrated solar power market.
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Concentrated Solar Power Market Scope
| Report Coverage | Details |
| Market Size by 2030 | USD 133.43 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 13.8% |
| Asia Pacific Market Share in 2020 | 42% |
| Parabolic Trough Segment Market Share in 2020 | 85% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
Concentrated Solar Power Market: Report Highlights
- Based on the application, the utility segment dominated the global market in 2020. This is attributed to the rising number of concentrated solar projects in the developing markets such as Asia Pacific and Middle East. The rapid industrialization and urbanization is a significant factor that is expected to propel the growth of this segment.
- Based on the technology, the power tower is estimated to be the most opportunistic segment. Cheap cost, improved design, and easy installation are some of the features that are expected to drive the growth of this segment during the forecast period.
Concentrated Solar Power Market : Regional Snapshot
Asia Pacific garnered a market share of around 42% and led the global concentrated solar power market in 2020. This is attributed to the surging installation of the concentrated solar power plants in the countries like China. Asia pacific is witnessing rapid industrialization and rapid urbanization, which is boosting the need for efficient power supply. Moreover, the rising air pollution levels in the region is encouraging the government and corporate sector to opt for the renewable energy sources. The development of favorable government policies that encourages the adoption of the renewable energy sources is playing a prominent role in the growth of the Asia Pacific concentrated solar power market.
North America was the second leading market in 2020. North America is characterized by the increased awareness regarding the carbon emissions, strict laws regarding the environment protection, and government subsidies for encouraging the adoption of the renewable sources of energy. Furthermore, the higher adoption of latest technologies and increased investments in the deployment of the renewable power sources is a significant driver of the North America concentrated solar power market.
Developing regions like Middle East is expected to witness a significant growth rate during the forecast period, owing to the rising infrastructural developments coupled with the increased demand for the energy plants. Moreover, the government initiatives and the key strategies adopted by the key market players are contributing towards the market growth. For instance, in 2018, United Arab Emirates increased its sustainable energy capacity and reached 2 GW out of 30 GW due to the commissioning of at Bin Rashid Al Maktoum Solar Park in Abu Dhabi.
Read Also: Endoscopes Market Size to Touch US$ 25.25 Billion By 2030
Concentrated Solar Power Market Dynamics
Driver
Rising efforts to control carbon emission and curb air pollution
The increased pollution levels due to the emissions from various sources has resulted in the climate change and harmful impact on the environment. Burning of fossil fuels like coal, oil, and gas is a major factor behind the increased levels of carbon emissions. This has forced the government to take necessary steps to curb the carbon footprint and invest in the development of renewable power technologies. This is a major factor that is expected to drive the market growth.
Restraint
High initial investments associated with the concentrated solar power technology
The components used in the concentrated solar power technology is very costly. The initial investment accounts for 80% of the total cost of installing concentrated solar power technology. Furthermore, additional costs are involved in the maintenance and operation of the systems. Therefore, the high capital investments is the major factor that may hinder the market growth during the forecast period.
Opportunity
Integration of the concentrated solar power to the hybrid plants
The hybrid power plants are capable of using two or more sources fuel to generate power. The solar power is gaining rapid traction across the globe. The availability of the hybrid power plants is capable of utilizing the solar energy for generating power. The rising adoption of the hybrid power plants is expected to have a positive impact on the market growth in the forthcoming future.
Challenge
Complexities of the concentrated solar power systems
There are certain complexities associated with the designing and installation of the concentrated solar power systems. These complexities may reduce the demand for the concentrated solar power and opt for alternatives like solar PV. This is a major threat faced by the market players.
Some of the prominent players in the global concentrated solar power market include:
- Abengoa Solar
- TSK Flagsol Engineering
- Acciona Energy
- GE Renewable Energy
- Enel Green Power
- Suntrace
- Shams Power
- BrightSource Energy, Inc.
- CSP Services
- ACWA Power
- Atlantica Yield PLC
- Therminol
- SolarReserve
- Chiyoda Corporation
Segments Covered in the Report
By Application
- Enhanced Oil Recovery
- Desalination
- Utility
- Others
By Technology
- Linear Fresnel
- Dish
- Parabolic Trough
- Power Tower
By Capacity
- Less than 50 MW
- 50 MW to 99 MW
- 100 MW and above
By Operation Type
- Stand-alone Systems
- With Storage
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Concentrated Solar Power Market
5.1. COVID-19 Landscape: Concentrated Solar Power Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Concentrated Solar Power Market, By Application
8.1. Concentrated Solar Power Market, by Application Type, 2022-2030
8.1.1. Enhanced Oil Recovery
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Desalination
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Utility
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Concentrated Solar Power Market, By Technology
9.1. Concentrated Solar Power Market, by Technology, 2022-2030
9.1.1. Linear Fresnel
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Dish
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Parabolic Trough
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Power Tower
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Concentrated Solar Power Market, By Capacity Type
10.1. Concentrated Solar Power Market, by Capacity Type, 2022-2030
10.1.1. Less than 50 MW
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. 50 MW to 99 MW
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. 100 MW and above
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Concentrated Solar Power Market, By Operation Type
11.1. Concentrated Solar Power Market, by Operation Type, 2022-2030
11.1.1. Stand-alone Systems
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. With Storage
11.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Concentrated Solar Power Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Application (2017-2030)
12.1.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.1.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Application (2017-2030)
12.1.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.5.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.1.5.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Application (2017-2030)
12.1.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.6.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.1.6.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Application (2017-2030)
12.2.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.2.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Application (2017-2030)
12.2.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.5.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.2.5.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Application (2017-2030)
12.2.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.6.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.2.6.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Application (2017-2030)
12.2.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.7.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.2.7.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Application (2017-2030)
12.2.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.8.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.2.8.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Application (2017-2030)
12.3.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.3.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Application (2017-2030)
12.3.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.5.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.3.5.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Application (2017-2030)
12.3.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.6.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.3.6.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Application (2017-2030)
12.3.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.7.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.3.7.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Application (2017-2030)
12.3.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.8.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.3.8.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Application (2017-2030)
12.4.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.4.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Application (2017-2030)
12.4.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.5.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.4.5.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Application (2017-2030)
12.4.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.6.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.4.6.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Application (2017-2030)
12.4.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.7.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.4.7.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Application (2017-2030)
12.4.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.8.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.4.8.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Application (2017-2030)
12.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.5.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Application (2017-2030)
12.5.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.5.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.5.5.4. Market Revenue and Forecast, by Operation Type (2017-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Application (2017-2030)
12.5.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.6.3. Market Revenue and Forecast, by Capacity Type (2017-2030)
12.5.6.4. Market Revenue and Forecast, by Operation Type (2017-2030)
Chapter 13. Company Profiles
13.1. Abengoa Solar
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. TSK Flagsol Engineering
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Acciona Energy
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. GE Renewable Energy
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Enel Green Power
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Suntrace
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Shams Power
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. BrightSource Energy, Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. CSP Services
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. ACWA Power
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
13.11. Atlantica Yield PLC
13.11.1. Company Overview
13.11.2. Product Offerings
13.11.3. Financial Performance
13.11.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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Frequently Asked Questions:
[sc_fs_multi_faq headline-0=”h6″ question-0=”What is the current size of concentrated solar power market?” answer-0=”According to Precedence Research, the global concentrated solar power market size was reached at US$ 41.73 billion in 2021 and is anticipated to grow at US$ 133.43 billion by 2030. ” image-0=”” headline-1=”h6″ question-1=”What will be the CAGR of global concentrated solar power market?” answer-1=”The global concentrated solar power market is growing at a CAGR of 13.8% obver the forecast period 2022 to 2030. ” image-1=”” headline-2=”h6″ question-2=”Who are the major players operating in the concentrated solar power market?” answer-2=”The major players operating in the concentrated solar power market are Abengoa Solar, TSK Flagsol Engineering, Acciona Energy, GE Renewable Energy, Enel Green Power, Suntrace, Shams Power, BrightSource Energy, Inc., CSP Services, ACWA Power, Atlantica Yield PLC, Therminol, SolarReserve, Chiyoda Corporation. ” image-2=”” headline-3=”h6″ question-3=”Which are the driving factors of the concentrated solar power market?” answer-3=”The global concentrated solar power market is primarily driven by the rising adoption of the renewable energy sources owing to the rising government initiatives and curbing the carbon emissions. ” image-3=”” headline-4=”h6″ question-4=”Which region will lead the global concentrated solar power market?” answer-4=”Asia Pacific region will lead the global concentrated solar power market in near future.” image-4=”” headline-5=”h6″ question-5=”” answer-5=”” image-5=”” count=”6″ html=”true” css_class=””]
