Concentrated Solar Power Market 2020 With Major Market Players Abengoa, SolarReserve, Acciona, ACWA Power, BrightSource Energy, Suntrace, GE Energy

Concentrated Solar Power (CSP) Market Report, published by Allied Market Research, forecasts that the global Concentrated Solar Power market was valued at $ 3,793.0 million in 2018 and is projected to reach $ 8,046.7 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The MEA region accounted for nearly 21.0% market share in 2018.

The global concentrated solar power market is divided on the basis of technology, end-user industry, and geography. Based on technology, the market is segmented into the parabolic trough, solar power tower, Fresnel reflectors, and dish Stirling.

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The parabolic trough segment dominated the market in 2018, contributing more than three-fifths of the market and is expected to maintain its dominance throughout the forecast period. However, the solar power tower segment is expected to register the fastest CAGR of 12.5% during the study period.

By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Based on region, Europe holds a dominant position in the global concentrated solar power market share and MEA is attributed to be the fastest growing region. The Asia-Pacific concentrated solar power market offers lucrative opportunities for key manufacturers, owing to rapid installation capacity of solar energy to increase renewable generation.

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In addition, China is actively boosting the growth of the market to cope up with its severe pollution problems and develop its domestic manufacturing industry. Furthermore, availability of low labor has led to increase in energy production through concentrated solar power, which fuels the growth of the market.

Key Findings of Concentrated Solar Power Market:
o The Industrial segment of concentrated solar powers market is predicted to grow with a CAGR 10.6% during 2019-2026.
o The Solar Power Tower segment is expected to grow with the highest CAGR in the global Concentrated Solar Power market size in terms of revenue, over the projected period.
o The Europe region held a share of over 41% in 2018 and is projected to grow to 10.1% by 2026.

The global concentrated solar power market report provides an in-depth analysis of the market players such as Abengoa, SolarReserve, Acciona, ACWA Power, BrightSource Energy, Suntrace, GE Energy, Frenell GMBH, SCHOTT, and Siemens.

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