Renewable Drones Market: Increasing Efficiency of Solar and Wind Power Plants

 According to the new market research report published by MarketsandMarkets™, the Renewable Drones Market size will grow to  USD 148 million by 2025 (forecast year) from USD 45 million in 2020 (estimated year), at a CAGR of 27.1% from 2020 to 2025. Increasing adoption of drones for reducing cost of inspection operation, focus on asset optimization and growing construction of solar and wind farm are expected to be the key factors driving the renewable drones market.

 

The solar segment is expected to be the fastest growing Renewable Drones Market.

The solar segment, by end user, Renewable Drones Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the increasing demand for inspection operation from existing solar farms. Moreover, rapid investments for development of solar PV farms in the Asia-Pacific region are factors propel the growth of solar segment in the Renewable Drones Market.

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The multirotor segment is expected to dominate the Renewable Drones Market.

Multirotor drones have various advantages over Fixed wing drones; for instance, multi-rotor aircraft can perform vertical takeoffs and landings. They also require less space to take flight, can hover mid-flight, and maneuver around objects for easy inspection, mapping, and modeling. Further, multirotor drones use multiple propellers to maneuver; hence, they do not require a larger surface area or wingspan as compared to Fixed wing drones. Moreover, multirotor drones are designed to be folded down and packed up into smaller cases, which makes them easier to transport. Such factors drive the growth of multirotor drones in the Renewable Drones Market.

Asia Pacific likely to emerge as the largest Renewable Drones Market

In this report, the Renewable Drones Market has been analyzed for six regions, namely, North America, South America, Europe, Asia Pacific, Middle East & Africa. Asia Pacific is expected to be the largest Renewable Drones Market during the forecast period. Asia Pacific comprises China, India, Japan, Australia, and Rest of Asia Pacific. The region has a high demand for electricity due to a rise in urbanization, industrialization, and population growth. The rapid increment in economic growth would lead to an increase in the demand for power. This would necessitate greater investments in the renewable power generation infrastructure. The region is expected to experience an increase in investments due to the rapidly declining prices of solar panels.

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Some of the top players in the Renewable Drones Market are DJI Enterprise (China), Terra Drone (Japan), Aerodyne Measure (US), and DroneDeploy (US).The leading players are adopting various strategies to increase their share in the Renewable Drones Market.

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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.