Concentrated solar power (also called concentrating solar power, concentrated solar thermal, and CSP) systems generate solar power by using mirrors or lenses to concentrate a large area of sunlight, or solar thermal energy, onto a small area.
Market Analysis and Insights: Global Concentrated Solar Power (CSP) Market
Due to the COVID-19 pandemic, the global Concentrated Solar Power (CSP) market size is estimated to be worth US$ 2249.2 million in 2023 and is forecast to a readjusted size of US$ 3832.8 million by 2030 with a CAGR of 9.3% during the forecast period 2023-2030. Fully considering the economic change by this health crisis, Trench Concentrating Solar Power Systems accounting for % of the Concentrated Solar Power (CSP) global market in 2022, is projected to value US$ million by 2030, growing at a revised % CAGR from 2023 to 2030. While Generate Electricity segment is altered to an % CAGR throughout this forecast period.
CSP even though is an old technology has not seen any big advancements in terms of innovation. Scalability and Complex operations have always restrained the adoption of this system, these factors have redirected the investments to PV systems which can be employed anywhere. But high cost and need for around the clock solar power is helping CSP technology grow at a fast pace. Many large power corporations are expected to make heavy investments so as to meet the increasing demand for CSP market. Solar power being one of the primary renewable source CSP industry is expected to see massive increase in demand in future.
Global Concentrated Solar Power (CSP) Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market?s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2030. This section mentions the volume of production by region from 2017 to 2030. Pricing analysis is included in the report according to each type from the year 2017 to 2030, manufacturer from 2017 to 2023, region from 2017 to 2023, and global price from 2017 to 2030.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert?s opinions have been taken to understand the market better.
Global Concentrated Solar Power (CSP) Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2030. by Application segment also provides consumption during the forecast period of 2017 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
- Trench Concentrating Solar Power Systems
- Tower-type Solar Power Tower Systems
- Dish Concentrating Solar Power Systems
- Other
Segment by Application
- Generate Electricity
- Industrial Heating
- Other
By Company
- BrightSource Energy
- Solar Millennium AG
- Abengoa
- Orano
- Siemens
- Acciona Energy
- ESolar
- SolarReserve
- Schott
- Wilson Solarpower
- Cool Earth
- Novatec
- Lointek
- NextEra Energy Resources
- Shams Power
- ZED Solar
- Absolicon
- Rioglass Solar
Production by Region
- North America
- Europe
- China
- Japan
Consumption by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Taiwan
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Latin America
- Mexico
- Brazil
- Argentina
