Concentrated Solar Power Market (By Type: Linear Fresnel, Parabolic Trough, Power Tower, Dish; By Application: Desalination, Utilities, Enhanced Oil Recovery, Others; By Capacity: >100 MW, >50?100 MW, ?50 MW) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global Concentrated Solar Power market is expected to reach the market value of around US$ 14 Bn by 2027 and is anticipated to grow at a CAGR of around 11.7% in terms of revenue during the forecast period 2020 – 2027.

The technology by which electricity is generated by concentrating sunlight on recipients through reflective means is concentrated solar energy. It is a technology for solar energy generation which, with turbines or stirling engines, transforms mechanical energy into electricity. Improved performance, cost-effective investment and gains from thermal storage energy are accomplished by integrated solar power technologies. Such advantages have contributed to a growing increased demand for the oriented solar industry.

The report provides analysis of global Concentrated Solar Power market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Dynamics

A greater understanding of the use of renewable energies for electricity production is projected to fuel the growth of the solar energy market. Declining crude oil prices and stringent policy legislation aimed at lowering emissions of greenhouse gas are projected to fuel strong growth in demand for concentrated solar power over the forecast period. Governments are expected to allow significant impacts on business development in supporting renewable energy infrastructure for power produced. Demands in the industry are projected to increase further because of the need to recognize environmentally-neutral, safe and efficient energy supply options, demand for consistent and equitable access in rural areas to electricity, constant growth in energy usage and strict pollution regulations. But there is a barrier to the use of distributed solar power energy, which also impacts consumer expansion in large areas for agricultural development.

Regional Stance

Asia Pacific led the global concentrated solar power market in 2019. The key reasons for growth are mounting demand for renewable energy in big countries, such as China, India and other countries in South-East Asia. Rural electrical guidelines lead to major ventures in regions where power is lacking. In fact, the usage rate of solar panels in the world will have risen with renewable energy goals considered by different countries. China and India are currently the key countries that will develop healthily over the expected period. On the other hand, Europe is anticipated to grow at a good CAGR during the forecast period. Policy measures to produce renewable energy from fossil fuels are projected to have a beneficial influence on the region's demand growth. Large-scale innovation and technology advancement initiatives by manufacturers are projected to support the region's demand growth over the forecast period.

Report coverage

The market research study on “Concentrated Solar Power Market (Concentrated Solar Power Market By Type: Linear Fresnel, Parabolic Trough, Power Tower, Dish; Concentrated Solar Power Market By Application: Desalination, Utilities, Enhanced Oil Recovery, Others; Concentrated Solar Power Market By Capacity: >100 MW, >50≤100 MW, ≤50 MW) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Concentrated Solar Power market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Concentrated Solar Power market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Concentrated Solar Power market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Concentrated Solar Power market is segmented as below:

Market Segmentation

Concentrated Solar Power Market By Type

• Linear Fresnel
• Parabolic Trough
• Power Tower
• Dish

Concentrated Solar Power Market By Application

• Desalination
• Utilities
• Enhanced Oil Recovery
• Others

Concentrated Solar Power Market By Capacity

• >100 MW
• >50≤100 MW
• ≤50 MW

Concentrated Solar Power Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA
  
  

Key Players and Market Situation

Participants include major global players such Acciona, Abengoa Solar, TSK Flagsol, Enel Green Power, CSP Services, Suntrace, BrightSource, Atlantica Yield, GE Renewable Energy, Shams Power, and Others.