Concentrating Solar Power Market: Prospective Growth Trends & Incremental Opportunity Assessment till 2030
Global Concentrated Solar Power Market Analysis
Concentrated solar power is a technology that can harness the sun’s energy potential and provide reliable renewable energy. Market Research Future (MRFR) has published a research report about the Global Concentrating Solar Power Market that predicts growth for this market at between 2016 and 2022.
The prominent factors driving the global concentrating solar power market growth include growing awareness about eco-friendly power, need for renewable sources of energy, cost-effective energy, and low maintenance costs. However, the high cost of initial installation can limit market growth.
Global Concentrated Solar Power Market Segmentation:
The global concentrating solar power market has been segmented on the basis of application, product, and lastly, region. The application-based segmentation segments this market into commercial application, industrial application, residential application. Commercial areas are places where businesses and retail stores are located. Industrial areas are areas where factories and manufacturing units are located. Residential areas are areas where residential premises are located. Based on product, the market has been segmented dish sterling, linear Fresnel, parabolic trough, and solar tower.
Regional Analysis
The regional segmentation of the global concentrating solar power market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW).
Europe is a priority regional market due to new projects, government initiatives towards grid-scale renewable power generation, and a number of installation security of supply with an objective to reduce greenhouse gas emission. Many important market players are also based in Europe. Vital country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.
In North America, the market is significant due to established industries, government initiatives favoring eco-friendly methods of power generation, and the presence of many key market players in North America. In this region, the crucial country-specific markets are the USA and Canada.
During the forecast period, the Asia Pacific regional market is expected to grow at high speed due to major installations taking place in countries such as China and India. During the forecast period, the largest concentrated solar power plant of Asia Pacific region which is under-construction has been expected to become operational. That will certainly elevate the market growth. Japan (followed by remaining countries of Asia Pacific region) is another important economic power which encourages eco-friendly measures of production.
The RoW segment lists the countries of the Middle East & Africa (MEA). In the MEA region, the market is limited due to poor countries, lack of awareness, lack of technological advancement, and lack of education.
Key Players
The key players in the global concentrating solar power market include Abengoa Solar S.A. (Spain), Acciona S.A. (Spain), Areva Solar (USA), BrightSource Energy Inc. (USA), eSolar Inc. (USA), SkyFuel Inc. (USA), SolarReserve LLC (USA), Solar Millennium AG (Germany), Schott Solar AG (Germany), and TSK Flagsol (Germany).
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Report Attribute | Details |
Forecast Period | 2022 - 2030 |
Market Growth value | XX % CAGR |
Revenue forecast in 2022-2030 | USD XX billion |
Base year for estimation | 2021 |
Historical data | 2019 – 2020 |
Unit | USD Billion, CAGR (2021 – 2030) |
Segmentation | By Application, By End-Use, and By Region |
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