Concentrated Solar Power Market Analysis with Size, Manufacturers, Applications and Forecast Research Report
Concentrated Solar Power (CSP) Market Report,
published by KD Market Insights, forecasts that the global Concentrated
Solar Power market was valued at $ 3,793.0 million in 2018 and is
projected to reach $ 8,046.7 million by 2026, growing at a CAGR of
10.3% from 2019 to 2026. The MEA region accounted for nearly 21.0%
market share in 2018.
CSP is generated in plants that utilize
mirrors to focus the sun's energy on panel to create electricity or drive
traditional steam turbines or engines. The thermal energy focused in a CSP
plant can be used and stored to produce electricity when needed. Growing
government support to adopt renewable technologies is expected to boost the
demand for concentrated solar power plant. Rise in energy demand &
concentrated solar power capability to supply dispatchable power also drives
the growth of the market.
Growth in environmental issues based on carbon
emissions results in focus to decrease air pollution. This in turn raise demand
for renewable energy such as solar energy. Thus, these factors are also
anticipated to support the expansion of the market. However, high cost
experienced during Concentrated Solar Power energy production restraints the
market growth during the forecast period. Moreover, rise in investment from
different industries in renewable sources provide lucrative opportunity for the
market growth.
The report segments the concentrated solar
power market on the basis of technology, end user industry, and region. Based
on technology, the market is divided into parabolic trough, solar power tower,
Fresnel reflectors, and dish Stirling. Based on technology, the parabolic
trough segment dominated the market in 2017, owing to growing demand of
electricity generation from parabolic trough technology.
On the basis of end user industry, the market is classified into residential, commercial, and industrial. Based on end use industry, the industrial segment is expected to grow with the highest CAGR during the forecast period.
By region, it is analyzed across North
America, Europe, Asia-Pacific, and LAMEA. Based on region, Europe holds a
dominant position in the global concentrated solar power market share and MEA
is attributed to be the fastest growing region. The Asia-Pacific concentrated
solar power market offers lucrative opportunities for key manufacturers, owing
to rapid installation capacity of solar energy to increase renewable
generation. In addition, China is actively boosting the growth of the market to
cope up with its severe pollution problems and develop its domestic
manufacturing industry. Furthermore, availability of low labor has led to increase
in energy production through concentrated solar power, which fuels the growth
of the market.
Browse Full Report & TOC: https://www.kdmarketinsights.com/product/concentrated-solar-power-market-amr
The key players contributing
in the global concentrated solar power market growth include Abengoa, Acciona,
SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT,
Frennel GMBH, and Siemens.
Key Findings of Concentrated Solar
Power Market:
- The Industrial segment of concentrated solar
powers market is predicted to grow with a CAGR 10.6% during 2019-2026.
- The Solar Power Tower segment is expected to grow with the highest CAGR in the global Concentrated Solar Power market size in terms of revenue, over the projected period.
- The Europe region held a share of over 41% in 2018 and is projected to grow to 10.1% by 2026.
- The qualitative data in the report aims on the concentrated solar power market trends, dynamics, and developments in the concentrated solar power industry while the quantitative data provide information of the size in terms of revenue.
- The Solar Power Tower segment is expected to grow with the highest CAGR in the global Concentrated Solar Power market size in terms of revenue, over the projected period.
- The Europe region held a share of over 41% in 2018 and is projected to grow to 10.1% by 2026.
- The qualitative data in the report aims on the concentrated solar power market trends, dynamics, and developments in the concentrated solar power industry while the quantitative data provide information of the size in terms of revenue.
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