Concentrating Solar Power Market: Market Breakdown, Data Triangulation & Research Assumptions

The global concentrating solar power market is witnessing significant growth due to rising environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies.

The concentrating solar power market is expected to grow from an estimated USD 6.7 Billion in 2016 to USD 10.96 Billion by 2021, registering a CAGR of 10.3% from 2016 to 2021.

                        

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Parabolic Trough segment is expected to hold the largest share of the concentrating solar power market, by technology, during the forecast period

The parabolic trough segment led the overall concentrating solar power market in 2015. Parabolic trough systems are applicable in all types of end-user industries such as utilities, Enhanced oil recovery, and other end users such as mining and desalination among others. Parabolic trough technology is most commercialized and mature technology in the CSP technology arena.

Utilities are expected to hold the largest market share of the concentrating solar power market, by end-users, during the forecast period

The utilities segment is expected to hold the largest share in the concentrating solar power market during the forecast period. Utilities sector includes utility scale power generation projects located at islands or on/off-grid areas. Dispatchable power is the key driving factor for CSP that creates huge opportunity for implementing concentrating solar power projects in areas with high solar irradiance.

The Middle East & Africa is the largest market for concentrating solar power

In this report, the concentrating solar power market has been analyzed with respect to five regions, namely, the North America, Europe, Asia-Pacific, South America and the Middle East & Africa. The Middle East & Africa is estimated to be the largest market for concentrating solar power till 2021. Middle East & African countries have high solar irradiance which provides a huge opportunity to implement concentrating solar power at utility scale.

Scope of the Report -

By Technology, the Concentrating Solar Power Market has been segmented into the following:

·         Parabolic Trough

·         Solar Tower

·         Linear Fresnel

·         Dish/Engine Systems

By End User, the Concentrating Solar Power Market has been segmented into the following:

·         Residential

·         Commercial

·         Industrial

By Component, the Concentrating Solar Power Market has been segmented into the following:

·         Solar Field

·         Power Block

·         Thermal Energy Storage System

By Region, the Concentrating Solar Power Market has been segmented into the following:

·         North America

·         South America

·         Europe

·         Asia-Pacific

·         Middle East & Africa

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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the concentrating solar power market. These players include Abengoa Solar (Spain), Aalborg CSP (Denmark), ACWA Power (Saudi Arabia), BrightSource Energy, Inc. (U.S) and eSolar Inc (U.S), among others. Leading players are trying to penetrate the markets in developing economies and are adopting various strategies to increase their market share.