Concentrating Solar Power Market is Projected to Reach $7.6 billion by 2025

The environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies, and the integrability of CSP systems with thermal storage systems are the key factors driving the concentrating solar power market.

The global concentrating solar power market size is projected to reach a size of USD 7.6 billion by 2025, at a CAGR of 16.4%, from an estimated USD 3.5 billion in 2020. The market is set to witness growth due to the growing solar deployment because of support from the government and the growing use of CSP in mini-grid applications.


https://www.marketsandmarkets.com/Market-Reports/concentrating-solar-power-market-199506567.html

The solar power tower market is expected to be the largest concentrating solar power market, by technology, in 2019.

The solar power tower segment is expected to be the largest segment of the concentrating solar power market, by technology, in 2019. The segment is expected to grow during the forecast period due to the higher temperatures that can allow higher efficiency of the steam cycle and decrease water consumption for cooling the condenser. The higher temperature uses thermal energy storage for achieving schedulable power generation. Thus, increasing adoption of solar power towers due to reduction in cost or allowing greater storage for the same price.

The with storage segment is expected to hold the largest share of the concentrating solar power market, by operation type, during the forecast period.

The with storage segment is the fastest-growing market and is projected to dominate the market during the forecast period. The need to generate power even during nights and to provide continuous supply of electricity due to thermal energy storage is driving the operation segment of concentrating solar power market. This would ultimately create new revenue pockets for the concentrating solar power market during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199506567

Asia Pacific: Key market for concentrating solar power during the forecast period.

In this report, the concentrating solar power market has been analyzed with respect to 6 regions, namely, Asia Pacific, Europe, North America, South America, the Middle East and Africa. Asia Pacific is expected to be the largest concentrating solar power market, by region, during the forecast period. Countries such as China, India and Australia are the fastest-growing markets in the Asia Pacific region, owing to the increase in installations of CSP plants. China is projected to grow at the highest CAGR from 2020 to 2025. This is mainly due to the increasing investment in CSP for stabilizing power grid is driving this country. In addition, the region focuses on the need to generate continuous renewable electricity to support growing economic activities will drive the concentrating solar power market in Asia Pacific region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the concentrating solar power market such as Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), Aalborg CSP (Denmark), and SolarReserve (US) and other players such as TSK Flagsol Engineering GmbH (Germany), Alsolen (Morocco), Cobra Energia (Spain), Torresol Energy (Spain), Acciona Energy (Spain), eSolar (US), and Enel Green Power (Italy).

Featured Product

NATURE'S GENERATOR POWERHOUSE

NATURE'S GENERATOR POWERHOUSE

Offers a maximum power output of 120V/240V 7200Watt and can power almost anything. Whether it is 120 Volts or 240 Volts, Powerhouse can single-handedly address all your home power requirements. The Nature's Generator is a solar generator built to be used anywhere, anytime. Power is supplied by our very own Power Panels and Wind Turbines, and can be connected to your home power. We ensure a clean charge without sacrificing any power, so you can stay connected wherever life takes you.