Product Code: A02753
According to a new report published by Allied Market Research, titled, "Concentrated Solar Power Market," The concentrated solar power market size was valued at $6.1 billion in 2022, and is estimated to reach $28.2 billion by 2032, growing at a CAGR of 16.6% from 2023 to 2032.
Concentrated solar panels (CSP) represent a category of solar technology designed to harness sunlight through mirrors or lenses, concentrating sunlight onto a smaller area to generate electricity or thermal energy. These systems differ from traditional photovoltaic (PV) solar panels, which convert sunlight directly into electricity using semiconductor materials.
Concentrated solar power holds several distinct advantages that position it as a prominent renewable energy source in the global energy landscape. It has the ability to generate electricity efficiently and reliably using sunlight and clean energy. CSP systems use mirrors or lenses to concentrate sunlight onto receivers, heating a fluid to produce steam that drives turbines and generates electricity. Moreover, the scalability of CSP technology is a significant advantage. CSP plants are built at various scales, from small-scale installations to utility-scale power plants covering large areas. This scalability enables flexibility in meeting different energy demands, whether for individual communities or to contribute significantly to a regional power grid.
The environmental benefits of CSP are substantial. It produces electricity without emitting greenhouse gases or other harmful pollutants, contributing significantly to mitigating climate change and reducing air pollution. By displacing fossil fuel-based power generation, CSP helps decrease reliance on non-renewable resources and minimizes the environmental impact associated with conventional energy production. All these factors increase the demand for concentrated solar power during the forecast period.
Hybrid systems combine CSP with conventional power plants or other renewables like wind or PV that offer enhanced reliability and stability to the grid. Coupling CSP with energy storage solutions enables round-the-clock electricity supply and facilitates grid balancing and peak shaving, thereby addressing intermittency challenges associated with solar energy. All these factors are anticipated to offer new growth opportunities for the concentrated solar power market during the forecast period.
The concentrated solar power market is segmented on the basis of technology, end-use industry, and region. By technology, the market is classified into parabolic trough, solar power tower, Fresnel reflectors, and dish stirling. The solar power tower technology accounted for more than half of the global concentrated solar power market revenue in 2022 and is expected to maintain its dominance during the forecast period. Solar power towers have the potential to achieve higher temperatures compared to other CSP technologies. This allows for efficient electricity generation through steam turbines, resulting in higher energy output per unit of installed capacity.
By end-use industry, the market is divided into residential, commercial, and industrial. The industrial segment accounted for half of the concentrated solar power market revenue in 2022 and is expected to maintain its dominance during the forecast period. Industries often require high-temperature heat for various manufacturing processes, such as in the production of cement, steel, chemicals, or desalination. CSP systemsw provide this high-temperature heat efficiently, offering an alternative to fossil fuel-based heating methods. In addition, stringent environmental regulations and corporate sustainability initiatives drive industries to transition towards cleaner energy sources. CSP, being a carbon-neutral and environmentally friendly energy solution, aligns with these goals, helping industries reduce their carbon footprint.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. On the basis of region, Asia-Pacific accounted for more than half of the global concentrated solar power market growth revenue in 2022 and is expected to maintain its dominance during the forecast period. The Asia-Pacific region experiences substantial economic growth and industrialization, leading to an increasing demand for energy. CSP presents an opportunity to meet this growing energy demand sustainably, especially in countries facing power shortages or seeking to diversify their energy mix.
- Key players in the concentrated solar power industry include Aalborg CSP, Acciona, ACWA Power, Atlantica Sustainable Infrastructure plc., Brightsource, FRENELL GMBH, General Electric, Rioglass Solar Inc., Sener, and Siemens Energy AG. In addition, the market drivers, restraints, and opportunities are explained in the report.
- Apart from these major players, there are other key players in the concentrated solar power market analysis. These include Abengoa Solar, SolarReserve, TSK Flagsol Engineering GmbH, Schott AG, Therminol, Cobra Group, Idhelio, Novatec Biosol, and Enel Green Power.
- Key findings of the study
- On the basis of technology, the Fresnel reflectors segment is expected to grow at a CAGR of 17.6%, in terms of revenue, during the forecast period.
- On the basis of end-use industry, the industrial segment is expected to grow at a CAGR of 16.3%, in terms of revenue, during the forecast period.
- Region-wise, Asia-Pacific has the highest share in 2022 in terms of revenue.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the concentrated solar power market share analysis from 2022 to 2032 to identify the prevailing concentrated solar power market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the concentrated solar power market forecast, and segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global concentrated solar power market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Manufacturing Capacity
- Capital Investment breakdown
- End user preferences and pain points
- Installed Base analysis
- Investment Opportunities
- Technology Trend Analysis
- Go To Market Strategy
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Technology
- Parabolic Trough
- Solar Power Tower
- Fresnel Reflectors
- Dish Stirling
By End Use Industry
- Residential
- Commercial
- Industrial
By Region
- North America
- Europe
- Germany
- Italy
- Spain
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players:
- Siemens Energy AG
- FRENELL GMBH
- ACWA Power
- Acciona
- Atlantica Sustainable Infrastructure plc.
- Brightsource
- Rioglass Solar Inc.
- General Electric
- Aalborg CSP
- Sener
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Moderate bargaining power of suppliers
- 3.3.2. Moderate threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Moderate intensity of rivalry
- 3.3.5. Moderate bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Surge in demand for renewable energy
- 3.4.1.2. Government incentives, subsidies, and policies
- 3.4.2. Restraints
- 3.4.2.1. High cost of investment
- 3.4.3. Opportunities
- 3.4.3.1. Hybridization and system integration
- 3.5. Value Chain Analysis
- 3.6. Key Regulation Analysis
- 3.7. Patent Landscape
CHAPTER 4: CONCENTRATED SOLAR POWER MARKET, BY TECHNOLOGY
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Parabolic Trough
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Solar Power Tower
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Fresnel Reflectors
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Dish Stirling
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: CONCENTRATED SOLAR POWER MARKET, BY END USE INDUSTRY
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Residential
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Commercial
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Industrial
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
CHAPTER 6: CONCENTRATED SOLAR POWER MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Technology
- 6.2.3. Market size and forecast, by End Use Industry
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Technology
- 6.2.4.1.2. Market size and forecast, by End Use Industry
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Technology
- 6.2.4.2.2. Market size and forecast, by End Use Industry
- 6.2.4.3. Mexico
- 6.2.4.3.1. Market size and forecast, by Technology
- 6.2.4.3.2. Market size and forecast, by End Use Industry
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Technology
- 6.3.3. Market size and forecast, by End Use Industry
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. Germany
- 6.3.4.1.1. Market size and forecast, by Technology
- 6.3.4.1.2. Market size and forecast, by End Use Industry
- 6.3.4.2. Italy
- 6.3.4.2.1. Market size and forecast, by Technology
- 6.3.4.2.2. Market size and forecast, by End Use Industry
- 6.3.4.3. Spain
- 6.3.4.3.1. Market size and forecast, by Technology
- 6.3.4.3.2. Market size and forecast, by End Use Industry
- 6.3.4.4. UK
- 6.3.4.4.1. Market size and forecast, by Technology
- 6.3.4.4.2. Market size and forecast, by End Use Industry
- 6.3.4.5. France
- 6.3.4.5.1. Market size and forecast, by Technology
- 6.3.4.5.2. Market size and forecast, by End Use Industry
- 6.3.4.6. Rest of Europe
- 6.3.4.6.1. Market size and forecast, by Technology
- 6.3.4.6.2. Market size and forecast, by End Use Industry
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Technology
- 6.4.3. Market size and forecast, by End Use Industry
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Technology
- 6.4.4.1.2. Market size and forecast, by End Use Industry
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Technology
- 6.4.4.2.2. Market size and forecast, by End Use Industry
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Technology
- 6.4.4.3.2. Market size and forecast, by End Use Industry
- 6.4.4.4. South Korea
- 6.4.4.4.1. Market size and forecast, by Technology
- 6.4.4.4.2. Market size and forecast, by End Use Industry
- 6.4.4.5. Rest of Asia-Pacific
- 6.4.4.5.1. Market size and forecast, by Technology
- 6.4.4.5.2. Market size and forecast, by End Use Industry
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Technology
- 6.5.3. Market size and forecast, by End Use Industry
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Brazil
- 6.5.4.1.1. Market size and forecast, by Technology
- 6.5.4.1.2. Market size and forecast, by End Use Industry
- 6.5.4.2. Saudi Arabia
- 6.5.4.2.1. Market size and forecast, by Technology
- 6.5.4.2.2. Market size and forecast, by End Use Industry
- 6.5.4.3. South Africa
- 6.5.4.3.1. Market size and forecast, by Technology
- 6.5.4.3.2. Market size and forecast, by End Use Industry
- 6.5.4.4. Rest of LAMEA
- 6.5.4.4.1. Market size and forecast, by Technology
- 6.5.4.4.2. Market size and forecast, by End Use Industry
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product mapping of top 10 player
- 7.4. Competitive dashboard
- 7.5. Competitive heatmap
- 7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
- 8.1. Acciona
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.1.7. Key strategic moves and developments
- 8.2. Aalborg CSP
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.3. ACWA Power
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.3.7. Key strategic moves and developments
- 8.4. Atlantica Sustainable Infrastructure plc.
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.5. Brightsource
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.6. FRENELL GMBH
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.7. General Electric
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
- 8.7.7. Key strategic moves and developments
- 8.8. Rioglass Solar Inc.
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.9. Sener
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.10. Siemens Energy AG
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance
- 8.10.7. Key strategic moves and developments