The global concentrated solar power market attained a value of nearly USD 5335.78 Million in 2023. The market is further expected to grow at a CAGR of 9.00% during the forecast period of 2024-2032 to reach a value of USD 11588.74 Million by 2032.
Base Year
Historical Year
Forecast Year
Value in USD Million
2024-2032
Concentrated Solar Power Market Outlook
*this image is indicative*
| 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 | 5335.78 |
| Market Size 2032 | USD Million | 11588.74 |
| 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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The EMR’s report titled “ Concentrated Solar Power Market and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
Market Breakup by Component
Market Breakup by End Use
Market Breakup by Region
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| 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% |
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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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:
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.
*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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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 9.00% 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.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 11588.74 Million by 2032.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| 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:
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| Breakup by Technology |
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| Breakup by Component |
|
| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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