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Concentrated Solar Power Market- Competitive Analysis, Opportunity & Forecast, 2027

Global Concentrated Solar Power Market Size By Storage [Molten Salt, Others], By Technology [Linear Fresnel Reflector, Parabolic Trough, Power Tower], By Capacity (Less than 50 MW, >50≤100 MW, Greater than 100 MW), By End-User Industry (Commercial, Residential and Industrial), By Region [North America, Europe, Asia Pacific, Middle East & Africa and Latin America], Forecast & Opportunities, 2020-2027.

Market Overview

Global Concentrated Solar Power Market is expected to reach around USD 9 billion by 2027 due to the increasing demand for clean energy and favorable government policies.

Concentrated Solar Power Market refers to the generation of electricity through mirrors, by concentrating the sunrays. The energy produced is used in various applications such as heating fluid, mainly water or oil, which in turn produces steam or hot air. The steam is used in driving turbines. Different types of mirror shapes and sun-tracking methods are available to produce energy. Concentrated solar power is a carbon-free source of power and it is best suited for regions with strong sun rays i.e in equatorial and tropical countries.

Increasing demand for electricity, the need for alternative energy, growing environmental awareness, and favorable government policies are key factors in driving the growth of the global concentrated solar power market.

High capital expenditure and other renewable alternatives are the factors hindering the growth of the concentrated solar power market globally.  

Market Segmentation

Global Concentrated Solar Power Market can be segmented into Storage, Technology, Capacity, End-User Industry, and Region.

By Storage, Global Concentrated Solar Power Market can be segmented into Molten Salt and Others. The growing need for cost-effective energy storage technology is expected to increase concentrated solar power storage market share.

By Technology, Global Concentrated Solar Power Market can be segmented into Linear Fresnel Reflector, Parabolic Trough, Power Tower. The parabolic trough segment accounts for the largest market share and it is the oldest technologies used to generate electricity from concentrated solar power.

By Capacity, Global Concentrated Solar Power Market can be segmented into Less than 50 MW, >50≤100 MW, Greater than 100 MW. Larger size segment I.e., Greater than 100MW dominates the global market due to better capacity utilization and higher efficiency of the plant. 

By End-User Industry, Global Concentrated Solar Power Market can be segmented into Commercial, Residential and Industrial. 

By Region, Global Concentrated Solar Power Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Regional Analysis

Asia pacific concentrated solar power market is expected to grow significantly during the forecasted period of 2020-27. Rising environmental awareness and government in India, China making carbon emission targets is likely to induce the growth of the concentrated solar power market in this region. Moreover, the lower manufacturing cost of components, availability of cheap labor and high solar irradiance levels are contributing to the growth of the concentrated solar power market.

Competitive Analysis

The key players global concentrated solar power market are Abengoa, SolarReserve, Acciona, BrightSource Energy, GE Energy, ACWA Power, Suntrace, Frenell GMBH, SCHOTT, and Siemens.

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Concentrated Solar Power Market- Competitive Analysis, Opportunity & Forecast, 2027
Report Snapshots

Global Concentrated Solar Power Market Size By Storage [Molten Salt, Others], By Technology [Linear Fresnel Reflector, Parabolic Trough, Power Tower], By Capacity (Less than 50 MW, >50≤100 MW, Greater than 100 MW), By End-User Industry (Commercial, Residential and Industrial), By Region [North America, Europe, Asia Pacific, Middle East & Africa and Latin America], Forecast & Opportunities, 2020-2027.

Market Overview

Global Concentrated Solar Power Market is expected to reach around USD 9 billion by 2027 due to the increasing demand for clean energy and favorable government policies.

Concentrated Solar Power Market refers to the generation of electricity through mirrors, by concentrating the sunrays. The energy produced is used in various applications such as heating fluid, mainly water or oil, which in turn produces steam or hot air. The steam is used in driving turbines. Different types of mirror shapes and sun-tracking methods are available to produce energy. Concentrated solar power is a carbon-free source of power and it is best suited for regions with strong sun rays i.e in equatorial and tropical countries.

Increasing demand for electricity, the need for alternative energy, growing environmental awareness, and favorable government policies are key factors in driving the growth of the global concentrated solar power market.

High capital expenditure and other renewable alternatives are the factors hindering the growth of the concentrated solar power market globally.  

Market Segmentation

Global Concentrated Solar Power Market can be segmented into Storage, Technology, Capacity, End-User Industry, and Region.

By Storage, Global Concentrated Solar Power Market can be segmented into Molten Salt and Others. The growing need for cost-effective energy storage technology is expected to increase concentrated solar power storage market share.

By Technology, Global Concentrated Solar Power Market can be segmented into Linear Fresnel Reflector, Parabolic Trough, Power Tower. The parabolic trough segment accounts for the largest market share and it is the oldest technologies used to generate electricity from concentrated solar power.

By Capacity, Global Concentrated Solar Power Market can be segmented into Less than 50 MW, >50≤100 MW, Greater than 100 MW. Larger size segment I.e., Greater than 100MW dominates the global market due to better capacity utilization and higher efficiency of the plant. 

By End-User Industry, Global Concentrated Solar Power Market can be segmented into Commercial, Residential and Industrial. 

By Region, Global Concentrated Solar Power Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Regional Analysis

Asia pacific concentrated solar power market is expected to grow significantly during the forecasted period of 2020-27. Rising environmental awareness and government in India, China making carbon emission targets is likely to induce the growth of the concentrated solar power market in this region. Moreover, the lower manufacturing cost of components, availability of cheap labor and high solar irradiance levels are contributing to the growth of the concentrated solar power market.

Competitive Analysis

The key players global concentrated solar power market are Abengoa, SolarReserve, Acciona, BrightSource Energy, GE Energy, ACWA Power, Suntrace, Frenell GMBH, SCHOTT, and Siemens.

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