The global Concentrating Solar power market size is projected to reach USD 7.6 billion by 2025 from an estimated value of USD 3.5 billion in 2020, at a CAGR of 16.4%. The environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies, and the integrability of CSP systems with thermal storage systems are the key factors driving the concentrating solar power market.

Leading Key Market Players:

The concentrating solar power market is dominated by a few global players, mainly from the Middle East & Africa and Europe. The key players in the concentrating solar power market include Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), Aalborg CSP (Denmark), and SolarReserve (US) and other players such as TSK Flagsol Engineering GmbH, Alsolen, Cobra Energia, Torresol Energy, Acciona Energy, eSolar, and Enel Green Power.

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This research report categorizes the concentrating solar power market based on Technology, Operation Type, Capacity, End User, and Region.

Based on the technology :

• Solar Power Tower
• Linear Concentrating Systems
• Stirling Dish technology

Based on the operation type:

• Stand-alone Systems
• With Storage

Based on the capacity:

• Less than 50 MW
• 50 MW to 99 MW
• 100 MW and above

Based on the end user:

• Utilities
• EOR
• Others (Others include process heating, mining industry operations, desalination and district heating)

Based on the region:

• Asia Pacific
• Europe
• North America
• Middle East & Europe
• South America

Asia Pacific: Key market for concentrating solar power during the forecast period.

Asia Pacific is expected to dominate the concentrating solar power market during the forecast period as owing to the increase in installations of CSP plants. China is projected to grow at the highest CAGR from 2020 to 2025. This is mainly due to the increasing investment in CSP for stabilizing power grid is driving this country. In addition, the region focuses on the need to generate continuous renewable electricity to support growing economic activities.  The figure below shows the projected market sizes of various regions with respective CAGR’s for 2025.

The solar power tower market is expected to be the largest concentrating solar power market, by technology, in 2019.

The solar power tower segment is expected to be the largest segment of the concentrating solar power market, by technology, in 2019. The segment is expected to grow during the forecast period due to the higher temperatures that can allow higher efficiency of the steam cycle and decrease water consumption for cooling the condenser. The higher temperature uses thermal energy storage for achieving schedulable power generation. Thus, increasing adoption of solar power towers due to reduction in cost or allowing greater storage for the same price.

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The with storage segment is expected to hold the largest share of the concentrating solar power market, by operation type, during the forecast period.

The with storage segment is the fastest-growing market and is projected to dominate the market during the forecast period. The need to generate power even during nights and to provide continuous supply of electricity due to thermal energy storage is driving the operation segment of concentrating solar power market. This would ultimately create new revenue pockets for the concentrating solar power market during the forecast period.

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