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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Concentrated Solar Power Market Outlook
The global concentrated solar power market reached a value of around USD 5335.78 million in 2023 and is expected to grow at a CAGR of 9% during the forecast period of 2024-2032.
| Global Concentrated Solar Power Market Report Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical Period | USD Million | 2018-2023 |
| Forecast Period | USD Million | 2024-2032 |
| Market Size 2023 | USD Million | 5,335.78 |
| Market Size 2032 | USD Million | 11,588.74 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 9.0% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 10.4% |
| CAGR 2024-2032 - Market by Country | India | 11.9% |
| CAGR 2024-2032 - Market by Country | China | 9.9% |
| CAGR 2024-2032 - Market by Technology | Power Tower | 12.3% |
| CAGR 2024-2032 - Market by End Use | Utilities | 12.1% |
| Market Share by Country 2023 | India | 3.5% |
Concentrated solar energy is used in different applications such as heating fluid, primarily water or oil, which in turn generates steam or warm air. The steam generated is used to produce electricity by driving turbines linked to a generator. The increased technological advances are aiding the global concentrated solar power industry. Concentrated solar energy is a carbon-free source of electricity. It is best suited for areas with powerful radiation such as Southern Europe, Northern Africa, the Middle East, South Africa, parts of India, China, Southern America, and Australia.
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Market Segmentation
Concentrated solar energy is electricity generation through mirrors to concentrate the sunrays at temperatures ranging from 400 to 1,000 ° C. Based on its technology, the market can be categorised as parabolic trough, power tower, linear Fresnel, and dish/engine system. Based on its end-use, the industry can be segmented into:
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- Utilities
- Enhanced Oil Recovery
- Others
By components, the industry can be divided into solar field, power block, and thermal energy storage system.
The EMR report looks into the regional concentrated solar power markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
| CAGR 2024-2032 - Market by | Country |
| India | 11.9% |
| China | 9.9% |
| Canada | 8.7% |
| Germany | 7.4% |
| Italy | 6.3% |
| USA | XX% |
| UK | XX% |
| France | XX% |
| Japan | 6.2% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Market Analysis
Increased government support for the implementation of renewable technologies combined with increased energy demand and power supply capacity without carbon dioxide gas emissions are driving the growth of the concentrated solar power industry. In addition, the rise in carbon-based environmental issues has led to an increased focus on reducing air pollution and an increase in the awareness regarding global warming. It is also anticipated that this factor will boost the industry growth during the forecast period. However, heavy costs incurred during the production of concentrated solar energy may hamper the market growth in the future.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global concentrated solar power market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Abengoa Solar, S.A.
- Brightsource Energy, Inc.
- ACWA Power Reinsurance Co Limited.
- Esolar, Inc.
- Solarreserve, LLC
- Aalborg CSP A/S.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Technology |
|
| Breakup by Component |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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Report Price and Purchase Option |
Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global concentrated solar power market attained a value of nearly USD 5335.78 million.
The market is projected to grow at a CAGR of 9% between 2024 and 2032.
The major drivers of the industry, such as the increasing environmental concern, adoption of renewable energy sources, favourable government policies and increased expenditure to promote green energy technologies, and the rising global demand for energy, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing research and development activities and the rapid technological advancements.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Parabolic trough, power tower, linear Fresnel, and dish/engine system are the leading concentrated solar power technologies in the industry.
The significant end use segments of concentrated solar power in the market include utilities and enhanced oil recovery, among others.
The major components of the product in the industry are solar field, power block, and thermal energy storage system.
The major players in the industry are Abengoa Solar, S.A., Brightsource Energy, Inc., ACWA Power Reinsurance Co Limited, Esolar, Inc., Solarreserve, LLC, Aalborg CSP A/S., and TSK Flagsol Engineering GmbH, among others.
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