Concentrated Solar Power Market

Concentrated Solar Power Market by Heat Transfer Fluids (Water-based, Oil-based, Molten Salt, and Others), Technology (Linear Fresnel, Power Tower, Parabolic Trough, and Dish/Stirling), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: EP-4294
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 1
  • No. Of Pages: 210
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The global concentrated solar power market size is expected to expand at a CAGR of 7.6% during the forecast period, 2021–2028. The growth of the market is attributed to increased conservation concerns about carbon emissions and rising efforts to reduce air pollution.

Concentrated Solar Power Market Key Takeaways

Concentrated Solar Power (CSP) makes use of mirrors to focus received sunlight on a central focal point. This energy is subsequently transformed into heat, which is utilized to generate steam to drive a turbine or as industrial process heat. Several applications, including as fresnel reflectors, parabolic troughs, and power towers, are available for concentrated solar power, and the suitable one is used according to the specific conditions. CSP is highly capital-intensive. Power blocks, solar fields, heat transfer fluid systems, and thermal energy storage systems are all utilized in the parabolic trough. Receiver fields, heliostat fields, towers, thermal energy storage, and power blocks are the primary components utilized in solar towers. The preliminary venture cost, which contributes to around four-fifths of the overall cost, reduces the Levelized Cost of Energy (LCOE) of CSP systems.

The COVID-19 pandemic had a significant impact on the renewable energy sector. The global supply chain has been severely damaged, as raw material imports were halted for an extended period of time. CSP facilities require a large human force to be on the ground to finish the installations, and manpower shortages in many nations resulted in labor deficit. Many ongoing projects throughout the world have been placed on hold for an indefinite period of time, owing to high reliance on imports and logistical constraints. Around 40% of solar trackers and other essential equipment imports come from China, which was the first country to be severely hit by the COVID-19 pandemic.

Market Trends, Drivers, Restraints, and Opportunities

  • Environmental concerns about carbon emissions and attempts to minimize air pollution are expected to propel the market.
  • Stringent government policies to reduce the expanding carbon footprint, along with monetary incentives to encourage the use of alternative energy sources, are expected to drive the market.
  • High cost of solar power technology is expected to hinder the market growth during the forecast period.
  • Technical complexities of CSP plant are anticipated to hamper the market in the coming years.
  • Agreements and contracts are projected to create lucrative opportunities for market growth in the coming years.

Scope of the Report

The report on the global concentrated solar power market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Concentrated Solar Power Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Heat Transfer Fluids (Water-based, Oil-based, Molten Salt, and Others), and Technology (Linear Fresnel, Power Tower, Parabolic Trough, and Dish/Stirling)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ACWA Power; Brightsource Energy Inc.; Abengoa SA; Acciona SA; and Engie SA.

Market Segment Insights

Molten salt segment to expand at a considerable CAGR

On the basis of heat transfer fluids, the concentrated solar power market is segmented into water-based, oil-based, molten salt, and others. The molten salt segment is projected to expand at a considerable CAGR during the forecast period, due to its ability to dispatch electricity outside peak sunshine hours. The water-based segment is anticipated to account for a major market share during the forecast period, as the plant's operational profile is more stable and predictable than that of a fossil-fueled plant.

Parabolic trough segment to hold a significant share of the market

In terms of technology, the market is divided into linear fresnel, power tower, parabolic trough, and dish/sterling. The parabolic trough segment is expected to hold a significant share of the market during the forecast period, due to less capital investments as compared to its counterparts. The power tower segment accounts for a significant market share, owing to its high efficiency and high capability to store energy.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the concentrated solar power market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period, due to increasing number of concentrated solar power plant installations. The market in North America is anticipated to expand at a rapid pace during the forecast period, owing to the changing focus of investors towards green energy alternatives.

Concentrated Solar Power Market By Regions

Segments

The global concentrated solar power market has been segmented on the basis of

Heat Transfer Fluids
  • Water-based
  • Oil-based
  • Molten Salt
  • Others
Technology
  • Linear Fresnel
  • Power Tower
  • Parabolic Trough
  • Dish/Stirling
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • ACWA Power
  • Brightsource Energy Inc.
  • Abengoa SA
  • Acciona SA
  • Engie SA.

Competitive Landscape

Key players competing in the global concentrated solar power market are ACWA Power; Brightsource Energy Inc.; Abengoa SA; Acciona SA; and Engie SA.

The market is considerably concentrated, due to the existence of multiple major and minor market players. Concentrated solar power producers are closely monitoring advancements in the renewable energy industry in order to develop tactics that help them increase their market share. Various players are making considerable expenditures to create novel technologies and designs, as well as to increase the degree of acceptance of these items.

Concentrated Solar Power Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Concentrated Solar Power Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Concentrated Solar Power Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Concentrated Solar Power Market - Supply Chain
  4.5. Global Concentrated Solar Power Market Forecast
     4.5.1. Concentrated Solar Power Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Concentrated Solar Power Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Concentrated Solar Power Market Absolute $ Opportunity
5. Global Concentrated Solar Power Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Concentrated Solar Power Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Concentrated Solar Power Demand Share Forecast, 2019-2026
6. North America Concentrated Solar Power Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Concentrated Solar Power Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Concentrated Solar Power Demand Share Forecast, 2019-2026
7. Latin America Concentrated Solar Power Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Concentrated Solar Power Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Concentrated Solar Power Demand Share Forecast, 2019-2026
8. Europe Concentrated Solar Power Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Concentrated Solar Power Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Concentrated Solar Power Demand Share Forecast, 2019-2026
9. Asia Pacific Concentrated Solar Power Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Concentrated Solar Power Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Concentrated Solar Power Demand Share Forecast, 2019-2026
10. Middle East & Africa Concentrated Solar Power Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Concentrated Solar Power Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Concentrated Solar Power Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Concentrated Solar Power Market: Market Share Analysis
  11.2. Concentrated Solar Power Distributors and Customers
  11.3. Concentrated Solar Power Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ACWA Power
     11.4.2. Brightsource Energy Inc.
     11.4.3. Abengoa SA
     11.4.4. Acciona SA
     11.4.5. Engie SA
The global concentrated solar power market has been segmented on the basis of

Heat Transfer Fluids
  • Water-based
  • Oil-based
  • Molten Salt
  • Others
Technology
  • Linear Fresnel
  • Power Tower
  • Parabolic Trough
  • Dish/Stirling
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • ACWA Power
  • Brightsource Energy Inc.
  • Abengoa SA
  • Acciona SA
  • Engie SA.

Key players competing in the global concentrated solar power market are ACWA Power; Brightsource Energy Inc.; Abengoa SA; Acciona SA; and Engie SA.

The market is considerably concentrated, due to the existence of multiple major and minor market players. Concentrated solar power producers are closely monitoring advancements in the renewable energy industry in order to develop tactics that help them increase their market share. Various players are making considerable expenditures to create novel technologies and designs, as well as to increase the degree of acceptance of these items.

Concentrated Solar Power Market By Key Players

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