Concentrated Solar Power Market Share, Key Players, Opportunity and Forecast 2023-2028

Posted on 22 August, 2023 by Joseph Finch

IMARC Group, a leading market research company, has recently released a report titled “Concentrated Solar Power Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global concentrated solar power market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Concentrated Solar Power Market?

What is Concentrated Solar Power?

Concentrated solar power (CSP) is an innovative and rapidly developing renewable energy technology that harnesses solar energy to generate electricity. CSP exhibits several notable characteristics that make it a widely preferred renewable energy option as it offers the advantage of energy storage, allowing for continuous electricity generation even in the absence of sunlight. CSP plants can be designed with integrated hybrid systems, incorporating other energy sources, such as natural gas or biomass, thus further enhancing their reliability. One of the key features of CSP is its scalability, i.e., CSP plants can range from small-scale installations to utility-scale power plants, depending on the energy requirements. At present, CSP finds extensive application in the power generation industry.

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What are the Growth Prospects and Trends in the Concentrated Solar Power Industry?

The increasing global focus on renewable energy sources is influencing the market growth of concentrated solar power. Moreover, government policies and initiatives promoting clean energy and reducing greenhouse gas (GHG) emissions are fueling the market growth. Technological advancements in concentrated solar power systems, such as improved efficiency, along with associated cost-effectiveness, are contributing to the market growth. The rising concerns over energy security and the need for diversification of energy sources are driving the market growth. Besides this, the increasing demand for sustainable and environmentally friendly energy solutions is supporting the market growth. The increasing public awareness and support for renewable energy sources are fueling the market growth. Collaborations between governments, private sector entities, and research institutions to develop and deploy concentrated solar power projects are contributing to the market growth. In addition to this, the increasing integration of concentrated solar power with energy storage technologies, such as molten salt storage, is driving the market growth by providing reliable and continuous power supply. The decreasing cost of concentrated solar power technologies, including the manufacturing and installation costs, is supporting the market growth. Favorable regulatory frameworks and incentives, such as feed-in tariffs and tax benefits, are driving the market growth. Growing investments in concentrated solar power projects by utilities and energy companies are fueling the market growth. Moreover, the market is also being driven by the rising need for electricity in remote and off-grid areas. The widespread adoption of concentrated solar power in the industrial sector, particularly for applications like process heat and desalination, is contributing to the market growth. The significant expansion of the power generation industry, particularly in the emerging economies and the rising demand for high thermal storage salt solutions across CSP power plants are driving the market toward growth. Other factors, such as the rising demand for electricity in emerging economies and the growing need for grid stability, along with extensive research and development (R&D) activities, are creating a positive outlook for the market further across the globe.

Who are the Key Players Operating in the Concentrated Solar Power Market?

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Aalborg CSP A/S
• Abengoa
• Acciona
• ACWA Power
• BrightSource Energy, Inc.
• Chiyoda Corporation
• Enel Spa
• INITEC Energía
• Siemens Energy (Siemens AG)
• Soltigua S.r.l.

What is Included in Market Segmentation?

The report categorized the market based on technology and application.

Breakup by Technology:

• Parabolic Trough
• Linear Fresnel
• Dish
• Power Tower

Based on Application:

• Utility
• EOR
• Desalination
• Others

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Key Highlights of The Report:                                                    

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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