Concentrated Solar Power Market Size By Technology (Parabolic Trough, Linear Fresnel Reflector, Power Tower), By Capacity (≤ 50 MW, > 50 MW to ≤ 100 MW, > 100 MW), By Storage (With Storage {Molten Salt}, Without Storage), Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Mar 2021  |  Report ID: GMI1164  |  Authors: Ankit Gupta, Riya Gupta

Report Format: PDF   |   Pages: 265   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Concentrated Solar Power Market size exceeded USD 4 billion in 2020 and the annual production is set to exceed 1,300 MW by 2027. CSP is also known as solar thermal power which utilizes focused sunlight to produce steam to run turbine-generator for electricity production. Large scale renewable energy integration coupled with increasing electrification programs across the emerging economies will thrust the industry landscape. Rising global energy demand coupled with large-scale investments toward the deployment of solar generation farms has instituted a favorable business scenario.
 

Concentrated Solar Power Market

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Concentrated Solar Power Market Report Coverage
Report Coverage Details
Base Year:2020Historical Data for:2017 to 2020
Market Size in 2020:4.18 Billion (USD)Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:-9.6%No. of Pages:265
2027 Value Projection:7.26 Billion (USD) Tables, Charts & Figures:349
Geographies covered (13):Greece, France, China, India, Australia, Israel, UAE, Kuwait, Morocco, South Africa, Saudi Arabia, Chile, Brazil
Segments covered:Technology, Capacity, Storage
Growth Drivers:
  • Favorable government initiatives
  • Rising electricity consumption
  • Growing demand for clean energy
  • Declining Levelized Cost of Electricity (LCOE)
Pitfalls & Challenges:
  • High capital expenditure
  • Availability of other renewable alternatives

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Increasing investment toward the construction of large capacity plants will propel the industry scenario

Concentrated Solar Power Market

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> 100 MW capacity based concentrated solar power market surpassed USD 1 billion in 2020. Increasing investment toward construction of large solar power plants along with decline in CSP associated capital expenditure will augment the industry statistics. Integration of renewable sources across the power grid coupled with growing utilization of clean energy across the industrial sectors will further complement the business scenario. For instance, in 2019, General Electric completed commissioning of 121 MW Ashalim solar thermal power station. Increasing solar based project across the high solar parity regions will witness rise in CSP plant pipeline in the upcoming years.
 

Growing applicability of large CSP power generating plants to produce high temperature steam, electricity and heat storage systems will fuel the technology demand. Moreover, ongoing technology advancement across the industry to deploy gas-based turbines across the CSP power plant to produce electricity at an efficient rate will in turn drive the industry dynamics. Major utilities are focusing on the development of high-capacity power towers owing to stringent government norms to increase the sustainable power across the total energy mix will further thrust the industry outlook.
 

Favorable government norms toward integration of renewable power across the grid network will thrust the CSP power plant construction

Power tower concentrated solar power market is set to grow on account of its ability to achieve higher operating temperatures coupled with its high thermal energy storage. Stringent environmental norms coupled with ongoing government efforts to promote renewable energy will further boost technology adoption. Integration of two-axis tracking technology to provide high operational efficiency & longer production time will boost the technology demand.
 

Increasing efficiency of power towers to supply reliable and effective power supply to various industries and commercial establishment will fuel the technology adoption. Ongoing contractual agreements to supply CSP power plant equipment across various upcoming projects will drive the product presence across the solar industry.
 

Growing demand for high thermal storage salt across the CSP power plants will propel the product demand

CSP with storage industry size is anticipated to upsurge on account of its Lower Levelized Cost Of Electricity (LCOE), higher Capacity Utilization Factor (CUF), and high overall plant efficiency. Ongoing technological advancements to improve the thermal storage ability and heat transfer ability of storage salts will escalate the technology deployment. Moreover, a paradigm shift toward the adoption of efficient heat and thermal storage products across the renewable power plants to deliver longer heat radiation will boost the business scenario.
 

Middle East & Africa concentrated solar power market is anticipated to witness growth owing to rising large, deserted terrain along with high solar intensity across the region

Middle East & Africa Concentrated Solar Power Market

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Rising investments toward sustainable development along with shifting focus toward green energy alternatives will positively influence the Middle East & Africa concentrated solar power market statistics. Increasing number of solar power plants coupled with rising renewable project pipeline to fulfill the sustainable energy mix will sway the product demand. For instance, in 2018, UAE has increased its sustainable energy capacity, reaching 2 GW out of 30 GW grid capacity owing to the commissioning of Mohammad Bin Rashid Al Maktoum Solar Park in Dubai and the Sweihan project in Abu Dhabi.
 

UAE concentrated solar power market crossed USD 800 Million in 2020. Growing integration of sustainable energy sources across the power grid network along with rising public and private investments to enhance the renewable sources deployment will propel the business scenario. Moreover, favorable government efforts toward the integration of renewable-powered sources have further enhanced foreign investments across the country.
 

Product innovation and strategic partnerships and contractual agreements will drive the focus of market participants toward the industry

The global economy will witness a minimal impact considering favorable operating conditions including ongoing measures toward clean power generation practices. Strong project pipeline along with positive outlook toward future potential will continue to drive the business scenario. In addition, the industry has witnessed no delay in projects during the pandemic scenario. Furthermore, increasing demand for solar power generation sources followed by rising investment funds toward development of solar plants will complement the business outlook.
 

Eminent companies operating across the concentrated solar power market are focusing toward advanced technology and innovative products. In addition, ongoing partnerships & acquisitions to fulfill the renewable energy targets set by various governments will thrust the business scenario. The industry manufacturers have been laying importance on minimizing the product cost and provide forward integration across the industry ecosystem which will further propel the concentrated solar power industry competition.
 

Major players participants operational across concentrated solar power market include Abengoa Solar, TSK Flagsol Engineering, Acciona Energy, GE Renewable Energy, Enel Green Power, Suntrace, Shams Power, BrightSource Energy, Inc., CSP Services, ACWA Power, Atlantica Yield PLC, Therminol, SolarReserve and Chiyoda Corporation.
 

Concentrated solar power market research report includes in-depth coverage of the industry with estimates & forecast in terms of MW and USD from 2017 to 2027, for the following segments:

By Technology

  • Parabolic Trough
  • Linear Fresnel Reflector
  • Power Tower

By Capacity

  • ≤ 50 MW
  • > 50 MW to ≤ 100 MW
  • > 100 MW

By Storage

  • With Storage
    • Molten Salt
    • Others
  • Without Storage

The above information has been provided for the following country:

  • Greece
  • France
  • China
  • India
  • Australia
  • Israel
  • UAE
  • Kuwait
  • Morocco
  • South Africa
  • Saudi Arabia
  • Chile
  • Brazil

 

Frequently Asked Questions (FAQ) :

The market for concentrated solar power surpassed USD 4 billion in 2020 and the production will exceed 1,300 MW by 2027 due to large scale renewable energy integration across the emerging economies.
The industry share from the power tower segment will grow owing to its high thermal energy storage and ability to achieve higher operating temperatures.
The market value from the >100 MW capacity segment exceeded USD 1 billion in 2020 and will grow with rising investment towards construction of large solar power plants.
The MEA concentrated solar power market will expand with soaring investments toward sustainable developments and green energy alternatives.

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Premium Report Details

  • Published Date: Mar 2021
  • Pages: 265
  • Tables: 314
  • Charts / Figures: 35
  • Companies covered: 14
  • Countries covered: 13

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