Global Concentrated Solar Power Market was valued US$ 4.60 Bn in 2017 and is estimated to reach US$ 17.02 Bn by 2026 at a CAGR of about 19.82% during a forecast period.
Global Concentrated Solar Power Market is segmented by Technology, Component, End-user and Geography. Technology segment is divided into the parabolic trough, linear Fresnel, dish, power tower. Based on the component, Global Concentrated Solar Power Market is categorized into power block, solar field and thermal energy storage system. End-user segment encompasses Utilities, Enhanced Oil Recovery, Desalination, and Others. Geographically, global concentrated solar power market is spread by North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
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Global Concentrated Solar Power Market
Thermal energy storage growing operational time of concentrated solar power is one of the key factors triggering the growth of the market. Emergent scope for renewable energy, exhaustion of fossil fuels is expected to boost global concentrated solar power market in future. Numerous awareness programmes organized by the government for the espousal of clean energy is going to be a prime feature for the future of the concentrated solar power. Electricity government has engaged in some resourcefulness towards generating power using renewable energy source. Furthermore, High capital cost is the major concern for Concentrated Solar Power market.
Parabolic Troughs technology segment is leading the growth in the Concentrated Solar Power Market. This growth can be attributed to gigantic proportion about more than 84% predominantly owing to the significant dispersion of the design accompanied by the ease in installation and usage.
Based on the end user, the utility segment is projected to witness a high growth rate of the CAGR owing to the constructive government regulations towards accumulative the adoption of renewable sources of energy. Innumerable economic and economic benefits existing by government bodies such as tax credits Feed in Tariffs will enhancement the concentrated solar power market growth during the forecast period.
In terms of region, Europe is expected to dominate the growth in the global concentrated solar power market owing to administrative regulation in the European region concerning with carbon emissions. Clean energy preference is resulting in a number of energy key players have entered the CSP market. Furthermore, Asia Pacific is projected to propel the growth in the global concentrated solar power market. This growth can be attributed to the huge population growth whereas energy demand is continuously increasing. The developing economies such as China and India are concentrated on renewable energy and mounted enormous capacity in recent years.
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Some of the major key players in the concentrated solar power market includes Soltigua, Engine, Aalborg CSP A/S , Abengoa Solar, S.A., Acwa Power, Alsolen, Archimedes Solar Energy, Bay solar CSP , Brightsource Energy, Inc., Cobra Energia, SCHOTT Solar AG, Solar Millennium AG, Acciona, BrightSource Energy Inc.
Scope of the report for Global Concentrated Solar Power Market
Global Concentrated Solar Power Market, by Technology
• Parabolic Trough
• Linear Fresnel
• Power Tower
• Dish/Engine System
Global Concentrated Solar Power Market, by Component
• Power Block
• Solar Field
• Thermal Energy Storage System
Global Concentrated Solar Power Market, End user
• Enhanced Oil Recovery
Global Concentrated Solar Power Market, by Geography
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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Key players in Global Concentrated Solar Power Market
• extEra Energy Resources LLC
• Esolar, Inc.
• Frenell Gmbh
• Siemens Ag
• Solar Reserve, Llc
• Ibereolica Group
• Aalborg Csp A/S
• Abengoa Solar, S.A.
• Acwa Power
• Archimedes Solar Energy
• Baysolar Csp
• Brightsource Energy, Inc.
• Cobra Energia
• SCHOTT Solar AG
• Solar Millennium AG
• BrightSource Energy Inc.