Concentrated solar power market will reach $ 119.52 billion by 2028; Growing Awareness of Excessive Carbon Emissions to Drive Business Opportunities, According to Fortune Business Insights ™


Companies featured in the Concentrated Solar Power Market Research Report are BrightSource Energy, Abengoa Solar, Siemens, Acciona, Solar Reserve, Torresol Energy, Trivelli Energia, Abors Green GmbH, Parvolen CSP Technologies, Sener, Rioglass

Pune, India, November 17, 2021 (GLOBE NEWSWIRE) – The world concentrated solar energy market The size is expected to reach USD 119.52 billion by 2028, with a CAGR of 16.2% during the forecast period. The presence of several large-scale companies in this sector will have a huge impact on the growth of the market in the years to come. The growing awareness regarding the use of natural energy sources compared to traditional energy sources will promote the growth of the market. According to a report published by Fortune Business Insights, titled “Concentrated Solar Power Market, 2021-2028,” the market was worth $ 37.25 billion in 2020.

COVID-19 pandemic could halt production and market quickly recover

The recent coronavirus outbreak has created a sense of panic in several industries around the world. With the rapid spread of the disease, governments around the world have been forced to implement strict measures to curb the spread of the disease. While these measures were basically implemented for a better cause, certain factors have had a dramatic impact on the global economy.

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Lists of key companies in the market:

• BrightSource Energy (United States)

• Abengoa Solar (Spain)

• Siemens (Germany)

• Acciona (Spain)

• Solar reserve (United States)

• Torresol Energy (Spain)

• Trivelli Energia (Italy)

• Abors Green GmbH (Germany)

• Parvolen CSP Technologies (Greece)

• Sener (Spain)

• Rioglass (Belgium)

Market segments:

On the basis of technology, the market is categorized into Parabolic Trough, Electric Tower, and Linear Fresnel. Based on the application, the market is divided into residential, non-residential and utility. The parabolic trough is expected to hold the largest share during the forecast period as it requires less capital investment than its counterparts.

Geographically, the market is segmented into five key regions including North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

Highlights of the report?

The report offers a 360-degree overview of the market and emphasizes the significant factors promoting, pushing back, stimulating and creating opportunities for the market over the forecast span. The report also lists the names of the major players operating in the market and the strategies adopted by them to carve out the lion’s share in the market. It also offers interesting market information, current market trends and major industrial developments in the market. The report also examines the segmentation table in detail and lists the names of the primary segment with its assigned factors. It is available for sale on the company’s website.

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Driving factor:

Strong adoption of solar energy to boost business

Concentrated solar energy allows the concentration of solar energy using mirrors placed in a particular way. This concept’s ability to maximize solar energy use and avoid waste, along with improved efficiency, will fuel demand for the product around the world. The growing awareness regarding the detrimental effects of excessive carbon emissions has created a subsequent demand to maximize the use of solar energy. Growing environmental pollution and efforts to reduce emissions of harmful gases will lead to wider adoption of concentrated solar power in several countries around the world.

Regional perspectives:

Increase in the number of solar energy projects to promote growth in Europe

The report analyzes current market trends in five major regions including North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Among all regions, the concentrated solar power market share in Europe is expected to become dominant in the coming years. The presence of several large-scale companies in several countries of this region will emerge in favor of the growth of the market.

Competitive landscape:

Mergers and collaborations to give impetus

The report encompasses several factors which have contributed to the growth of the overall market in recent years. Among all the factors, the increasing number of corporate collaborations taken to implement CSP across the globe has had the greatest impact on market growth in recent years. As a result of efforts to reduce carbon emissions across the world, companies are engaging in collaborations, which gives them a platform to combine their resources. In March 2019, Rioglass Solar announced that it had signed a contract with Abengoa Energia and Shanghai Electric. The contract covers the supply of parabolic receiver tubes and mirrors.

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Industry development:

March 2020: Shouhang Hightech Energy Technology Co., Ltd. (Shouhang), entered into a cooperation agreement with the government of Gansu Province for the Jinta 100MW Molten Salt Tower Concentration Solar Power Project. The project is expected at the end of 2021

Detailed Table of Contents

  • introduction

  • Abstract

  • Market dynamics

    • Market factors

    • Market constraints

    • Market opportunities

  • Key ideas

    • Main emerging trends – for the main countries

    • Latest technological advances

    • Regulatory landscape

    • Porters Five Forces Analysis

  • Qualitative analysis – Impact of COVID-19

    • Impact of COVID-19 on the Concentrated Solar Energy (CSP) Market

    • Measures taken by the government to overcome the impact

    • Main developments of industry players in response to COVID-19

    • Opportunities and potential challenges due to the COVID-19 epidemic

  • Global Concentrated Solar Power (CSP) (MW) Market Analysis (USD Billion), Outlook and Forecast, 2017-2028

    • Main conclusions / summary

    • Market Analysis, Information & Forecast – By Technology

      • Parabolic trough

      • Power tower

      • Linear fresnel

    • Market Analysis, Information & Forecast – By Application

      • Residential

      • Non-residential

      • Utility

    • Market analysis, information and forecasts – by region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East and Africa

Table of contents (continued)….

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