The report is titled as ‘Concentrated Solar Power Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the concentrated solar power market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The concentrated solar power market is expected to grow at a significant rate in the near future.
The global concentrated solar power market in 2020 is accounted for more than US$ 4.3 Bn and expected to reach a value of US$ 14.2 Bn by 2028 with a significant CAGR of 16.1%.
Concentrated Solar Power Introduction
The advanced and cutting-edge concept of generation of electricity through mirrors to focus on the sun rays to the temperature differing between 400 and 1,000 °C, is known as the concentrated solar power market.
The energy generated from sun rays is then engaged in other several different applications such as heating any kind of liquid, majorly oil and water that conclusively generate hot air or steam. Afterward, the generated steam is employed to drive turbines that are linked to a generator that produces electricity.
The mirrors employed in the concentrated solar power system are in different shapes and sizes and various techniques are used to generate useful energy, although, each technique used works under the common concept of propelling the heat engine to produce electricity which later can be fed into the grid. The concept of concentrated solar power is witnessing significant demand in recent times owing to the growing awareness about the environment all across the world.
Concentrated Solar Power Market Dynamics
In the present-day world, there is huge awareness among the population with regard to a pollution-free environment coupled with numerous initiatives taken by several governments across the world to keep the surroundings green and healthy, which is majorly boosting the growth of the global concentrated solar power market. Concentrated solar power is an environmentally-friendly concept and cuts off the carbon emissions polluting the environment, which is one of the major benefits of the concentrated solar power system.
Therefore, the global concentrated solar power market is projected to witness substantial growth in the forthcoming years. In addition to that, concentrated solar power is an economical source of electricity that assists in deducting the energy bills, thus adding to the stimulating demand for concentrated solar power mechanisms in the global market.
Attributing to this, the global concentrated solar power market is expected to give a breakthrough during the forecast timeframe.
However, the installation of the concentrated solar power may be money exhaustive which is likely to restrict the adoption rate as well as act as a restraining factor for the growth of the concentrated solar power market in the coming years.
Concentrated Solar Power Market Key Players
Some of the key participating players in the concentrated solar power market are:
Abengoa Solar, S.A.
Brightsource Energy, Inc.
ACWA Power
Esolar, Inc.
Solarreserve, LLC
Aalborg CSP A/S.
TSK Flagsol Engineering GmbH
Alsolen
Archimede Solar Energy
Acciona Energy
Cobra Energia
Frenell GmbH
Nexans
Soltigua
Baysolar CSP
Siemens AG
Solastor
Concentrated Solar Power (CSP) Market Segmentation
The Concentrated Solar Power Market is segmented on the basis of technology, component, end-user industry, and region.
By Technology
Parabolic Trough
Power Tower
Linear Fresnel
Dish/Engine System
By Component
Solar Field
Power Block
Thermal Energy Storage System
By End-User Industry
Utilities
Enhanced Oil Recovery
Others
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
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