"Actionable Insights to Fuel Your Growth"

Concentrated Solar Power Market Size, Share & Industry Analysis, By Technology (Parabolic Trough, Power Tower, Linear Fresnel) By Application (Residential, Non-Residential, Utility), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI100751

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version
COVID-19 Cover

We are in process of revamping Concentrating Solar Power Market with respect to COVID-19 Impact.

Inquire before buying

Rising concerns to cut down GHG emissions, along with favorable government initiatives to promote green energy, will propel the concentrated solar power market growth. The development of infrastructure to encourage the use of solar energy in residential, utility, and commercial applications will further foster the demand for concentrating solar power. Concentrated solar power is a technology that utilizes focused sunlight to produce electricity. Depending on the types of technology used, the receiver fitted along with the concentrating solar power set up have fluid or gas running through them, which is then heated to a high temperature by the focused sunlight. This high-temperature fluid or gas further runs a turbine or piston which finally results in electricity generation using generators.


Request a sample to learn more about this report.


Increasing adoption of concentrated solar power in utilities supported by green energy targets will drive the growth of the concentrated solar power market. Asia Pacific has witnessed a slow growth over the previous years considered in study, strong growth has been witnessed in the base year, and this trend is set to continue over the given forecast period. Following this, the cumulative installations & cumulative revenue will rise at a very healthy rate at global level and in Asia Pacific during the given forecast period. The major factors driving the growth of region are increasing demand for clean energy, increasing population, rural electrification plans, and green energy target rollouts by major countries in the region.  Also, the presence of various key market players will add up to a lion’s share of the region during the forecast period. 


MARKET DRIVERS


“Growing Adoption of Clean Fuel Alternatives Will Cater to CSP Market Growth


The increasing adoption of the clean fuel alternatives, with the main objective to curb carbon emissions, is the primary factor driving the growth of concentrated solar power market. Concentrated solar power uses the available to a maximum possible extent by concentrating the power form various directions to a single epicenter that further produces heat using varying mechanisms resulting in electricity generation. With many countries realizing the advantages of solar power, solar panels have been deployed in various parts of its boundaries to increase the power generation using solar, which will certainly bolster the market growth in coming years.


“Government Subsidies Provided to Promote Green Power Initiatives Are Projected to Boost the Industry”


Concentrated solar power market forecasts that governments in many countries have rolled out several policies to develop solar energy infrastructure, which will result in high power output using solar panels, which will certainly shape the industry outlook positively. Concentrated solar power has been majorly deployed for the utility sector which generates electricity on a large scale and fulfills the electricity demand for many of its consumers. Also, the subsidies provided for residential deployment of solar power will boost the concentrating solar power installations in the residential sector. 


SEGMENTATION


By Technology Analysis


“Parabolic Trough Is Anticipated to Observe the Dominating Share


Based on the technology, the concentrated solar power market can be majorly divided into the parabolic trough, power tower, and linear fresnel. The parabolic trough is anticipated to lead the industry outlook in terms of volume as well as market size over the considered forecast period. The use of conventional steam turbines and steam generators in the parabolic trough, along with the operating efficiency and economic factor, are the major factors that propel the segment to occupy a significant concentrated solar power market share in the global market.


To know how our report can help streamline your business, Speak to Analyst


In design considerations, the parabolic trough structures have a focal point for each of the mirror tilted, which functions individually to generate the maximum heat possible, which is not the case in other designs that have all the mirrors pointing towards a single focus point. This positively affects the working efficiency, and therefore parabolic troughs are mostly preferred over other technologies.


By Application Analysis


“Deployment for Large Scale Projects Will Drive the Growth in Utilities


Based on the application, the CSP market can be segmented into residential, non-residential, and utility. The large area required for installation of concentrated solar panels and minimum power to justify the capital are mainly justified in the utility sector. The area required constraints on the market growth in residential sectors, and availability of other types of solar panels negatively impacts the increase in non-residential sectors. The rising population and government targets to satisfy electricity demand will flourish the investment being made in the utilities.


REGIONAL ANALYSIS


Geographically, the global market has been analyzed across five major regions, which are North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. As per concentrated solar power market analysis, Asia Pacific is projected to witness an exponential growth in the given forecast period. The major reasons contributing to the growth are the rising demand for clean energy in major countries that include China, India, and other Southeast Asian countries. Government initiatives of rural electrification have led to major projects being deployed across areas being deprived of electricity. Also, the green energy targets being looked upon by various countries in coming years have increased the deployment rate of solar panels in the region. Currently, China and India are the major countries that are projected to grow at a healthy rate during the given forecast period.


Asia Pacific Concentrated Solar Power Market Size, 2018

To get more information on the regional analysis of this market, Request a sample


Rising investments in research & development activities, along with collaborations between universities, government, key industry players, and laboratories, to develop more advanced technologies in energy generation using solar will drive the market growth in Europe. Spain being the leading country in power generation using this technology, is anticipated to grow more during the given forecast period which will impact the market share held by region in global market. Following the footsteps of Spain, other countries in the region have installed base of concentrated solar power. The other major countries in the region are Italy, Germany, and Scandinavia.


North America’s CSP market is anticipated to grow at a steady rate over the forecast period. The high emphasis by the government on conventional power sources and increasing exploration activities have somewhat held the growth of the market in the region. But with the adoption of renewables being preferred, which can be witnessed by investments made by government in other green energy prospective like offshore wind and fuel cells, the market for concentrated solar power is expected to rise.  


INDUSTRY KEY PLAYERS


Industry Players Like Abengoa Solar, BrightSource Energy, Siemens are Among the leading players to Shape the Market Size


This market has witnessed various regional as well as global participants producing concentrated solar panels at different locations and numerous production rates. Key players are increasingly focusing on investing in research & development activities to attain higher absorptivity of sunrays and entering into the unexplored regions with new projects. 


List Of Key Companies Covered:



  • BrightSource Energy

  • Abengoa Solar

  • Siemens

  • Acciona

  • SolarReserve

  • Torresol Energy

  • Trivelli Energia

  • Abors green GmbH

  • Parvolen CSP Technologies

  • Sener

  • Lointek

  • Rioglass


REPORT COVERAGE


Concentrated solar power is a technology involving the use of mirrors to focus the sunlight on a particular point, where the energy from sun rays in stored and used to generate high-temperature heat. This heat is now used to create steam, which going further drives the steam turbine to generate electricity. Electricity is generated by passing the generated steam through a conventional generator. The concentrated solar plant in operation has mainly two parts, one which is used for collection of solar energy and conversion into heat and the second one, which is used to generate electricity using the generated heat.


Various technologies are available for energy generation using concentrated solar. The main difference in technologies used is the arrangement of mirrors and the receiver at different angles. In parabolic trough systems, parabolic reflectors are used, in power tower systems flat heliostats are used, and in linear fresnel long, narrow, shallow-curvature mirrors are used as reflectors to focus light on receivers.  


An Infographic Representation of Concentrating Solar Power Market

To get information on various segments, share your queries with us



The concentrated solar power market report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the concentrated solar power market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.


Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion) and Volume (MW)



Segmentation



By Technology



  • Parabolic Trough

  • Power Tower

  • Linear Fresnel



By Application



  • Residential

  • Non- Residential

  • Utility



By Region



  • North America (U.S. and Canada)

  • Europe (Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (China, India, Australia, and Rest of Asia Pacific)

  • Latin America (Mexico and Rest of Latin America)

  • Middle East & Africa (GCC, South Africa and Rest of the Middle East & Africa)



 INDUSTRY DEVELOPMENT:



  • In November 2019, Heliogen, a clean energy manufacturing company, announced the launch of a new concentrated solar energy for operations above 1000 degree Celsius. The company received funding from Bill Gates and is focused on developing systems that will eventually help replace the use of fossil fuels altogether.

  • In November 2019, Abengoa carried out a successful synchronization of the Luneng Haixi 50MW solar thermal power plant, which indicates the correct operation of mechanical and electrical infrastructure in solar field. This project is being carried out as a part of renewable energy program launched by Chinese government back in 2018. The program aims at increasing the solar thermal installed base in-country to 27GW by 2030.


Frequently Asked Questions

Fortune Business Insights says that the concentrated solar power market was valued cumulatively at USD 30.11 billion in 2018.

The concentrated solar power market is projected to reach cumulatively at USD 62.87 billion by 2026.

The concentrated solar power market is projected to grow at a steady CAGR of 8.1%.

Asia Pacific concentrated solar power market was valued at USD 2.25 billion in 2018.

The utility application is anticipated to be the leading segment in the concentrated solar power market during the forecast period.

Rising measures to adopt clean energy along with favorable government policies to develop solar infrastructure are the key market drivers. However, the increasing deployment of solar photovoltaic may hamper the market growth.

BrightSource Energy, Abengoa Solar, Siemens, and Acciona are among the top players in the concentrated solar power market.

With the introduction of various introduced stringent guidelines to keep a check on carbon footprint the adoption of renewables has increased. CSP uses only solar light and acts as a one-time investment for the generation of energy in coming years, and these factors are bound to propel the CSP installations in various regions.

Concentrated solar power finds major application in utility as the capital and space requirement for CSP is high. Government’s aiming to power their countries using renewables prefer CSP, as it is capable of producing huge amounts of power needed to satisfy the energy demand for large number of consumers.

Concentrating Solar Power Market Size, Share and Global Industry Trend Forecast till 2026
  • Dec, 2019
  • 2018
  • 2015-2017
  • 130

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X