Global Concentrating Solar Power (CSP) Market by Product Types, Technologies, and Regions — Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2020–2026

The global concentrating solar power market is expected to reach a considerable value by 2026, expanding at a CAGR of 10.6% during the forecasted period from 2020 to 2026. Concentrating solar power also known as concentrating solar thermals are devices that generate solar energy by using mirrors or lenses to concentrate a large area of sunlight onto a receiver. It is used to generate electricity when the concentrated light is converted into concentrated heat, which drives the heat engine that is connected to a power generator.

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Growing pollution concerns have increased the adoption of solar power devices. The international solar alliance is a joint venture of India and France that aims to develop the latest solar power devices and promotes solar energy. There are certain factors that hamper the growth for the concentrating solar power market such as the high cost of the investment; this involves plantation, land leasing, and cost involved in R&D and the average payback period. The European region is growing rapidly in terms of utilizing renewable sources of energy. Companies operating in countries such as France, Germany, Italy, Austria, Poland, Spain, and Hungry are investing in R&D to develop technologies that utilize the solar heat to increase efficiency, produce clean energy and create less pollution. In addition, change in lifestyle, increased pollution due to growing population, strict government laws to reduce the use of fossil fuels are some of the factors driving the growth for concentrating solar power market and is predicted to continue the same in the forecasted period.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing urbanization, growing population, technological advancement in solar energy, enhanced capacity utilization, government regulations, and rising environmental concerns of exploitation of non-renewable sources of energy are some of the factors driving the growth of waste to the energy market.
The latest trend is reducing carbon emission to control global warming. The concentrating solar power achieves a higher operating temperature compared to other alternatives. It has gained immense popularity in recent times due to its fast and efficient energy generation processes.
The high cost associated with the generation of solar energy may hamper the growth for the market. Nevertheless, in recent years, efforts are being made to reduce capital and operating costs.
The Asia Pacific region is an untapped market due to its growing population, increasing the need for energy, and high urbanization rates. Countries such as India and China are investing in solar power plants to meet the growing demand for energy.

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Competitive Landscape:

Key players operating in the concentrating solar power market are Abengoa, Solar Reserve, Areva, Acciona, Brightsource Energy, eSolar, Solar Millennium, and Siemens. Major strategies followed by these players are market expansion for providing solar facilities in the remotest region, technological up-gradation, investment in R&D to develop new technologies and create innovative designs, mergers & acquisitions, and vertical integration in order to strengthen services. Solar Millennium is a Germany based solar power company and has recently launched a CSP project in riverside countries that not provide clean energy but will also create more jobs.

The Global Concentrating Solar Power (CSP) Market has been segmented based on

Product Types

Molten Salt
Water-Based
Oil-Based
Other Heat Transfer Fluids

Technologies

Parabolic Trough
Linear Fresnel
Power Tower
Dish & Sterling

Regions

Asia Pacific
Europe
North America
Middle East & Africa
Latin America

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Table of Contents

Executive Summary
Assumptions and Acronyms Used
Research Methodology
Concentrating Solar Power (CSP) Market Overview
Global Concentrating Solar Power (CSP) Market Analysis and Forecast by Type
Global Concentrating Solar Power (CSP) Market Analysis and Forecast by Application
Global Concentrating Solar Power (CSP) Market Analysis and Forecast by Sales Channel
Global Concentrating Solar Power (CSP) Market Analysis and Forecast by Region
North Concentrating Solar Power (CSP) Market Analysis and Forecast
Latin Concentrating Solar Power (CSP) Market Analysis and Forecast
Europe Concentrating Solar Power (CSP) Market Analysis and Forecast
Asia Pacific Concentrating Solar Power (CSP) Market Analysis and Forecast
Middle East & Africa Concentrating Solar Power (CSP) Market Analysis and Forecast
Competition Landscape

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