Concentrated Solar Power Market: Introduction
The global concentrated solar power market was valued at US$ 8.8 Bn in 2020 and is likely to reach US$ 69.7 Bn by the end of 2031. The global market is projected to proliferate at 20.7% CAGR during the forecast period of 2021–2031. Several prominent players operating in the global concentrated solar power (CSP) market are tapping into expanding avenues generated by the ever-rising demand for energy worldwide, finds Transparency Market Research (TMR). In order to consolidate their positions, top players are also focusing on meeting the needs of end users in developing countries who are increasingly seeking to adopt clean energy for a low-carbon economy.
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It is expected to witness a CAGR of 12.7% during the forecast period due to the crunch of electricity together with lessening resources of non-conventional energy for the generation of electricity.
Drivers and Restraints: Stringent rules by the governments to limit the growing carbon impression together with financial paybacks are expected to increase the acceptance of different sources of energy in the concentrated solar power market.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/concentrated-solar-power-csp-market/request-sample Market Synopsis of Concentrated Solar Power Market: The request for thermal energy storage to upsurge the operation time of concentrated solar power is one of the most important factors motivating the development of market.
These plants are being fitted along with Thermal Energy Storage (TES) technology to upsurge the rating of capability factor.
Growing alertness in industrialized areas of North America and Europe, along with emerging nations of Asia Pacific is expected to increase the development of the business.
Classification: The global concentrated solar power (CSP) market can be classified by Application, Technology, Capacity, Storage, and Region.
Global Concentrated Solar Power Market was valued US$ 4.60 Bn in 2017 and is estimated to reach US$ 17.02 Bn by 2026 at a CAGR of about 19.82% during a forecast period.Global Concentrated Solar Power Market is segmented by Technology, Component, End-user and Geography.
Technology segment is divided into the parabolic trough, linear Fresnel, dish, power tower.
Based on the component, Global Concentrated Solar Power Market is categorized into power block, solar field and thermal energy storage system.
This growth can be attributed to gigantic proportion about more than 84% predominantly owing to the significant dispersion of the design accompanied by the ease in installation and usage.Based on the end user, the utility segment is projected to witness a high growth rate of the CAGR owing to the constructive government regulations towards accumulative the adoption of renewable sources of energy.
Innumerable economic and economic benefits existing by government bodies such as tax credits Feed in Tariffs will enhancement the concentrated solar power market growth during the forecast period.In terms of region, Europe is expected to dominate the growth in the global concentrated solar power market owing to administrative regulation in the European region concerning with carbon emissions.
The developing economies such as China and India are concentrated on renewable energy and mounted enormous capacity in recent years.Some of the major key players in the concentrated solar power market includes Soltigua, Engine, Aalborg CSP A/S , Abengoa Solar, S.A., Acwa Power, Alsolen, Archimedes Solar Energy, Bay solar CSP , Brightsource Energy, Inc., Cobra Energia, SCHOTT Solar AG, Solar Millennium AG, Acciona, BrightSource Energy Inc.Scope of the report for Global Concentrated Solar Power MarketGet Request For Discount:http://www.marketgrowthanalysis.com/reports/enquiry/224Global Concentrated Solar Power Market, by TechnologyParabolic Trough• Linear Fresnel• Power Tower• Dish/Engine SystemGlobal Concentrated Solar Power Market, by ComponentPower Block• Solar Field• Thermal Energy Storage SystemGlobal Concentrated Solar Power Market, End userUtilities• Enhanced Oil Recovery• Desalination• OthersGlobal Concentrated Solar Power Market, by GeographyNorth America• Europe• Asia Pacific• Middle East & Africa• Latin AmericaKey players in Global Concentrated Solar Power MarketextEra Energy Resources LLC• Esolar, Inc.• Frenell Gmbh• Nexans• Siemens Ag• Solar Reserve, Llc• Ibereolica Group• Solastor• Soltigua• Engie• Aalborg Csp A/S• Abengoa Solar, S.A.• Acwa Power• Alsolen• Archimedes Solar Energy• Baysolar Csp• Brightsource Energy, Inc.• Cobra Energia• SCHOTT Solar AG• Solar Millennium AG• Acciona• BrightSource Energy Inc.Full View of Report Analysis:http://www.marketgrowthanalysis.com/concentrated-solar-power-marketMarket Growth Analysis is one of the leading digital services provider and a result-oriented company based in Malaysia.
