Global Concentrating Solar Power Market Trends 2024, Forecast To 2033
16 Feb, 2024
Concentrating solar power market has rapidly grown from $6.63 billion in 2023 to $7.9 billion in 2024, achieving a 19.2% CAGR. Drivers include government incentives, environmental concerns, energy security, and global energy demand. Expected growth to $14.61 billion by 2028, attributed to cost reductions, storage integration, policy support, and climate change mitigation. Major trends encompass hybridization, advanced storage solutions, technological innovations, global market expansion, corporate sustainability commitments, and decentralized energy production focus.
Global Concentrating Solar Power Market Key Driver
Growing demand for renewable energy is driving the growth of the concentrating solar power market. The need for sustainable and renewable energy sources has led to increased investments in concentrating solar power technologies. The data from the International Energy Agency (IEA) forecasts a significant rise in global renewable electricity capacity. The growing demand for renewable energy is a crucial factor driving the growth of the concentrating solar power market.
Get A Free Sample Of The Global Concentrating Solar Power Market ReportGlobal Concentrating Solar Power Market Segments
The concentrating solar power market covered in this report is segmented –
1) By Technology: Parabolic Trough, Solar Power Tower, Fresnel Reflectors, Dish Stirling
2) By Capacity: Less Than or Equal To 50 MW, Greater Than 50 MW To Less Than or Equal To 100 MW, Greater Than 100 MW
3) By Heat Transfer Fluid: Molten Salt, Water-Based, Oil-Based, Other Heat Transfer Fluids
4) By Storage: With Storage, Without Storage
5) By Application: Utility, EOR, Desalination, Other Applications
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the concentrating solar power market in 2023. Asia-Pacific is expected to be the fastest-growing region in the concentrating solar power market share during the forecast period. The regions covered in the concentrating solar power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Concentrating Solar Power Industry Players
Abengoa S. A.; BrightSource Energy Inc.; ACWA Power; Aalborg CSP A/S; General Electric Company; Atlantica Sustainable Infrastructure plc; TSK Flagsol Engineering GmbH; Enel Green Power Corporation; Acciona S. A.; Frenell GmbH; Suntrace GmbH; Torresol Energy; Trivelli Energia srl; Grün leben GmbH; Soltigua S. r. l; Engie SA; Nextera Energy Inc.; Chiyoda Corporation; Heliogen Inc.; Siemens Energy AG; SolarReserve LLC; Solar Millennium AG; eSolar Inc.; Schott AG; Parvolen CSP Technologies; Sener Grupo de Ingeniería group.; Lointek Sistemas Solar Térmicos; GlassPoint Solar Inc.; Rackam Energy; Soliterm Group GmbH
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Concentrating Solar Power Market Overview
Concentrating solar power employs mirrors to focus the sun's energy, which is then used to power traditional steam turbines or engines to generate electricity. Thermal energy concentrated in a CSP plant collects solar radiation using reflecting or transmissive optical elements that focus the radiation to a focal point where it is directly transformed into thermal or electrical energy and is used to deliver heat for industries.
Concentrating Solar Power Global Market Report 2023 provides data on the global concentrating solar power market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The concentrating solar power market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.