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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), COVID-19 Impact Analysis, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI1164
  • Published Date: Mar 2021
  • Report Format: PDF

Industry Trends

Concentrated Solar Power (CSP) Market size exceeded USD 4 billion in 2020 and is anticipated to cross an annual production 1,300 MW by 2027. Large scale renewable energy integration coupled with increasing electrification programs across the emerging economies will thrust the market growth. Rising global energy demand coupled with large-scale investments toward the deployment of solar generation farms has instituted a favorable business scenario.

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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 stimulate the industry value. In addition, the industry has showcased 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 industry revenue.

Increasing investment toward the construction of large capacity plants will propel the market expansion

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> 100 MW capacity segment in the CSP market valued at 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 growth. Integration of renewable sources across the power grid coupled with growing utilization of clean energy across the industrial sectors will further complement the industry demand.

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 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 market progression.

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

Power tower CSP market is poised 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 the technology adoption. Integration of two-axis tracking technology to provide high operational efficiency & longer production time will foster the technology demand. Increasing efficiency of power towers to supply reliable and effective power supply to various industries and commercial establishment will influence the technology acceptance.

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

CSP with storage industry size is predicted to upsurge due to 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. In addition, paradigm shift toward usage of efficient heat and thermal storage products across the renewable power plants to deliver longer heat radiation will accelerate the industry expansion.

Rising large deserted terrain along with high solar intensity across the region to create growth opportunities for Middle East & Africa

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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 impel the industry progression. Moreover, favorable government efforts toward the integration of renewable-powered sources have further enhanced foreign investments across the country.

Rising investments toward sustainable development along with shifting focus toward green energy alternatives will positively influence the Middle East & Africa market value. Increasing number of solar power plants coupled with rising renewable project pipeline to fulfill the sustainable energy mix will sway the product demand.

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

Major companies operating in the market are 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. Eminent leaders are focusing on advanced technology and innovative products.

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

Market, By Technology

  • Parabolic Trough
  • Linear Fresnel Reflector
  • Power Tower

Market, By Capacity

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

Market, 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


Authors: Ankit Gupta, Riya Gupta

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

  • Base Year: 2020
  • Companies covered: 14
  • Tables & Figures: 349
  • Countries covered: 13
  • Pages: 265
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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