The global concentrating solar power market is forecast to grow at a compound annual growth rate (CAGR) of more than 11% during the forecast period from 2022-2030.
The method of concentrating solar energy involves using mirrors to focus the sun’s rays to a temperature between 400°C and 1,000°C in order to generate electricity. There are also various uses for this energy, including heating water or oil, which produces steam or hot air. A combustion engine produces steam that drives turbines that turn a generator to produce electricity. Mirrors come in different shapes and have different types of sunlight tracking to provide useful energy, which relies on heat engines to generate electricity that can go into the grid. Thus, concentrated solar power energy uses no coal or fossil fuels and is most suitable for regions with strong solar radiation.
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Factors Impacting the Market
- Growing government subsidies for renewable technologies, together with a rise in energy demand & the ability to produce power without emitting CO2, are driving the market growth.
- In light of the rise in environmental issues resulting from carbon emissions, there is an increased emphasis on reducing air pollution and raising awareness of global warming. It will also propel market growth.
- During the forecast period, the high cost of concentrated solar power energy production impedes the market growth.
- Renewable energy investments from various industries and the increased use of heat storage systems are significant opportunities for the market.
Impact Analysis of COVID-19
The COVID-19 pandemic has affected power sectors around the world. In the current scenario, construction activity has suffered in many countries due to supply chain disruptions mainly caused by China, lockdown measures across all major economies, social-distancing guidelines for workers, and the subsequent issues with financing. Globally, the number of new renewable power installations is likely to fall in the future due to the unprecedented COVID-19 crisis, affecting the market for concentrating solar power.
Regional Overview
A growing number of concentrating solar power plants is likely to drive demand for concentrating solar power plants in the Asia Pacific during the forecast period. During the forecast period of 2022 to 2030, China will grow at the highest CAGR. It is due in large part to increased investments in concentrating solar power to stabilize the power grid. In addition, the region emphasizes the continuing requirement for renewable energy to maintain economic growth.
Leading Companies in the Market
The leading prominent players in the global concentrating solar power market are:
- Abengoa, S.A. (Spain)
- Torresol Energy (Spain)
- Acciona, S.A. (Spain)
- ACWA Power (Saudi Arabia)
- Atlantica Yield Plc. (U.K.)
- Brightsource Energy, Inc. (U.S.)
- Frenell GmbH (Germany)
- General Electric (U.S.)
- Siemens AG (Germany)
- Enel Green Power S.p.A. (Europe)
- Suntrace GmbH (Germany)
- SolarReserve, LLC. (U.S.)
- Other Prominent Players
Scope of the Report
The global concentrating solar power market segmentation focuses on Technology, Operation Type, Capacity, End User, and Region.
Segmentation based on Technology
- Solar Power Tower
- Linear Concentrating Systems
- Stirling Dish technology
- Parabolic Trough
- Fresnel Reflectors
- Dish Stirling
Segmentation based on End-User
- Residential
- Commercial
- Industrial
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Concentrating Solar Power Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Concentrating Solar Power market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Concentrating Solar Power Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Concentrating Solar Power market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Concentrating Solar Power market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Concentrating Solar Power market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Concentrating Solar Power market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Concentrating Solar Power business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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