Global Concentrated Solar Panel Market Study Analysis: Rising Environmental Concerns Over Carbon Emissions And Efforts To Reduce Pollution

The Global Concentrated Solar Panel Market was estimated to be $ Billion in 2028 and is anticipated to grow at a CAGR of more than 10.2% from 2021 to 2028. Concentrated solar power is used to produce electricity by using mirrors or lenses to concentrate a large area of sunlight onto a receiver. The sunlight act as the energy source for electricity generation, this light is converted into heat which steam turbine that is connected to an electrical power generator. The technologies used in a concentrated solar panel are the namely parabolic trough, dish, concentrating linear Fresnel reflector, and solar power tower. The concentrated solar panel is gaining popularity due to the growing need for cost-effective electricity generation with zero carbon emission. The increasing demand for renewable energy sources such as solar energy for power generation in industries is also encouraging investments for the concentrated solar panel by various small-scale and large-scale industries. The increasing government initiatives to promote solar energy due to its affordability and zero carbon emission are expected to supplement concentrated solar panel market growth.

To request a free sample, Go To: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=006871

Global Concentrated Solar Panel Drivers And Restrain:
The major factors that have impacted the growth of the concentrated solar panel including growing environmental concerns which promote green energy sources such as solar energy, and increasing demand for thermal energy storage for accumulating the energy generated through concentrated solar panels, among others.

Growing environmental concerns:
The growing environmental concerns are encouraging demand for the adoption of clean fuel alternatives. Clean fuel will curb carbon emissions which is harmful to environmental health. The carbon emission results in air pollution which causes global warming. A concentrated solar panel concentrates the power from various directions to an epicenter that generates electricity using the varying mechanism. The electricity generated through the solar panel is free from carbon emissions. The government is taking several initiatives to support sources of energy such as solar energy that provides no harm to the environment. The growing awareness and government support including subsidies provided to promote green power initiative for installing a concentrated solar panel are expected to drive the concentrated solar panel market growth.

Increasing demand for thermal energy storage:
Thermal energy storage systems allow excess thermal energy to be stored and used days, hours, weeks, or months later depending upon the requirement. The demand for greater thermal energy storage for the energy produced through solar energy is increasing so that the stored energy can be utilized when needed. The solar plants generate energy from sunrise to sunset and thermal energy storage allows storage of the energy produced through sun rays including thermophysical in which energy is stored in a hot fluid or solid medium or by causing a phase change that can later be reversed to release heat and thermochemical in which energy is stored in chemical bonds requiring two or more reversible chemical reactions. The thermal energy storage will surge the uptime for a concentrated solar panel. The thermal energy storage is fitted along with the concentrated solar panel. The increasing demand for energy generated through solar energy will surge the demand for thermal energy storage which in turn is expected to boost the concentrated solar panel market growth.
The cost of concentrated solar power (CSP) technology may prove to be a barrier to adoption unless and until government regulatory and institutional bodies reinforce it.

Impact Of COVID-19 on the Concentrated Solar Panel Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Concentrated Solar Panel Market Segments:
The global Concentrated Solar Panel market is further segmented into technology, component, application, and geography.
By Technology: Parabolic Trough, Solar Power Tower, Fresnel Reflectors, and Dish Stirling
By Components: Solar field, Power Block, and Thermal Storage
By Application: Residential, Non-Residential, and Utility

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)

The Asia Pacific is expected to have prominent growth in the concentrated solar panel market owing to the constantly increasing population which will demand more energy sources. Furthermore, emerging economies such as India, China have increased investment towards the use of clean energy is expected to supplement to concentrated solar panel market growth in this region. Europe is estimated to have a significant share in the concentrated solar panel market owing to huge investments for developing advanced concentrated solar panels. North America is anticipated to have a higher market share in the concentrated solar panel market owing to the increasing implementation of concentrated solar panels.

Key Players of Global Concentrated Solar Panel Market:
• BrightSource Energy
• Abengoa
• Siemens
• Acciona
• SolarReserve
• Torresol Energy
• Heliogen
• Abors green GmbH
• Areva
• eSolar

For Any Query or Customization, Ask Our Industry Experts@https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=006871

Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Concentrated Solar Panel Market
• Value Chain Analysis of Global Concentrated Solar Panel Market
• What is the CAGR of the Global Concentrated Solar Panel Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

Address
Evolve Business Intelligence
C-218, 2nd floor, M-Cube
Gujarat 396191
India
Contact: +1 773 644 5507 / +91 635 396 3987
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is market research, business intelligence, and advising service that offers creative solutions to a company's problems. Data beneficial to micro, small, medium, and large-scale businesses can be found in our market research studies. We offer a wide range of services, from data collection to business consulting.
Evolve Business Intelligence is built on account of technology advancement and our in-house AI-modelled data analysis and forecast tool – EvolveBI – provides extremely accurate data. This application tracks real-time statistics from Fortune's Global 2000 firms, including quarterly performance, annual performance, and recent changes.

This release was published on openPR.