Concentrating Solar Power (CSP) Market Size and Share is Projected to Reach US$ 3792.2 Mn at CAGR 9.6% by 2028

Gemasolar Concentrated Solar Power, Seville - Renewable Technology

The Global Concentrating Solar Power (CSP) Market exhibits comprehensive information that is a valuable source of insightful data for business strategists during the decade 2023-2029. This intelligence reports include an investigation based on Current scenarios, Historical records, and Future predictions. The report contains different market predications Related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.

The global concentrating solar power market size is estimated to be USD 6.0 billion in 2022 and is projected to reach USD 19.9 billion by 2027; it is projected to grow at a CAGR of 26.9% during the forecast period.

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Concentrating Solar Power (CSP) Market Main Competitive Landscape:

SkyFuel Inc., Abengoa Solar S.A., eSolar Inc., SCHOTT Solar AG, TSK Flagsol, SolarReserve LLC, Acciona S.A., Solar Millennium AG, ACWA ,Areva Solar, BrightSource Energy Inc., and others.

 Recent Developments

  • In January 2022, Abengoa has completed the construction of three 200 MW parabolic trough plants as part of phase IV of the Mohammed bid Rashid Al Maktoum Solar Park mega-project outside Dubai. The company worked under a contract with the phase IV EPC contractor Shanghai Electric Group and oversaw the technology, design, engineering, and construction of the parabolic trough plants.
  • In June 2021, ACWA made an offtake contract with Eskom Holdings SOC Ltd and secured about USD 800 million in funding to build the largest concentrated solar power plant in South Africa. Redstone CSP is designed to have a generation capacity of 100 MW and is set to enter commercial operations in the fourth quarter of 2023. The CSP plant will have a 12-hour thermal energy storage system so that it will be able to meet the power demand of nearly 200,000 homes 24/7.
  • In April 2019, BrightSource Energy partnered with General Electric for the ASHALIM project, a 121 MW capacity solar field that became operational in 2019. GE was responsible for the engineering, procurement, and construction (EPC) of the solar power station, with BrightSource providing the advanced solar field technology.
  • In February 2019, Aalborg CSP signed an agreement with Shanghai Electric Group to supply no-leaks steam generation systems to the Dubai 700 MW CSP project

Dividing the Global Concentrating Solar Power (CSP) Market by Product types and Application

Based on type, the market has been segmented into:

Power Block

Solar Field

Thermal Energy Storage System

Based on application, the market has been segmented into:

Residential

Commercial

Industrial

Utilities segment, by end user, is expected to be the largest market during forecast period

By end user, the concentrating solar power market has been segmented into utilities, enhanced oil recovery (EOR), and others. Utilities segment is expected to be the largest segment during the forecast period. The utilities segment is driven by the increasing energy demand and the ability to store energy for future use

Regions Are covered by Concentrating Solar Power (CSP) Market Report 2023 To 2029

  • North America (the United States, Canada, and Mexico)
  • Europe (Germany, France, UK, Russia, and Italy)
  • Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
  • South America (Brazil, Argentina, and Colombia)
  • The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

“Asia Pacific: The largest and fastest concentrating solar power market”

Asia Pacific is expected to dominate the concentrating solar power market between 2023–2029, followed by Middle East & Africa. The CSP market growth in Asia Pacific, and Middle East & Africa is expected to be backed by the growing demand for continuous generation of electricity and increasing support from governments to adopt renewable technologies in key countries such as China, India, Morocco, the UAE, and Saudi Arabia.

Following are major TOC of the Concentrating Solar Power (CSP) Market:

Chapter 1: Concentrating Solar Power (CSP) Market Overview

Chapter 2: Global Economic Impact on Industry

Chapter 3: Global Concentrating Solar Power (CSP) Market Competition by Manufacturers

Chapter 4: Global Production, Profits (Value) by Region

Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions

Chapter 6: Global Price Trend by Type, Revenue (Value), Production

Chapter 7: Manufacturing Cost Analysis

Chapter 8: Global Market Analysis by Application

Chapter 9:   Industrial Chain and Downstream Buyers, Sourcing Strategy

Chapter 10: Marketing Strategy Analysis, Distributors/Traders

Chapter 11: Market Effect Factors Analysis

Chapter 12: Global Concentrating Solar Power (CSP) Market Forecast

Keep it going ……

Our analysts examined the information and data and generated insights using a combination of quantitative and qualitative research efforts, with the primary purpose of delivering a holistic view of the market.

Reasons for buying this report:

Concentrating Solar Power (CSP) Market segmentation analysis includes qualitative and quantitative research incorporating the impact of economic and non-economic aspects.

– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategy employed by the major market players.

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