Press release
Concentrating Solar Power Market to Grow 16.4% Annually Through 2025
According to the new market research report "Concentrating Solar Power Market - Global Forecast to 2025", size is expected to grow from an estimated USD 3.5 billion in 2020 to USD 7.6 billion by 2025, at a CAGR of 16.4%, during the forecast period. The market is set to witness growth due to the growing solar deployment because of support from the government and the growing use of CSP in mini-grid applications.Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199506567
The solar power tower market is expected to be the largest concentrating solar power market, by technology, in 2019.
The solar power tower segment is expected to be the largest segment of the concentrating solar power market, by technology, in 2019. The segment is expected to grow during the forecast period due to the higher temperatures that can allow higher efficiency of the steam cycle and decrease water consumption for cooling the condenser. The higher temperature uses thermal energy storage for achieving schedulable power generation. Thus, increasing adoption of solar power towers due to reduction in cost or allowing greater storage for the same price.
The with storage segment is expected to hold the largest share of the concentrating solar power market, by operation type, during the forecast period.
The with storage segment is the fastest-growing market and is projected to dominate the market during the forecast period. The need to generate power even during nights and to provide continuous supply of electricity due to thermal energy storage is driving the operation segment of concentrating solar power market. This would ultimately create new revenue pockets for the concentrating solar power market during the forecast period.
This research report categorizes the concentrating solar power market based on Technology, Operation Type, Capacity, End User, and Region.
Based on the technology :
Solar Power Tower
Linear Concentrating Systems
Stirling Dish technology
Based on the operation type:
Stand-alone Systems
With Storage
Based on the capacity:
Less than 50 MW
50 MW to 99 MW
100 MW and above
Based on the end user:
Utilities
EOR
Others (Others include process heating, mining industry operations, desalination and district heating)
Based on the region:
Asia Pacific
Europe
North America
Middle East & Europe
South America
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Asia Pacific: Key market for concentrating solar power during the forecast period.
In this report, the concentrating solar power market has been analyzed with respect to 6 regions, namely, Asia Pacific, Europe, North America, South America, the Middle East and Africa. Asia Pacific is expected to be the largest concentrating solar power market, by region, during the forecast period. Countries such as China, India and Australia are the fastest-growing markets in the Asia Pacific region, owing to the increase in installations of CSP plants. China is projected to grow at the highest CAGR from 2020 to 2025. This is mainly due to the increasing investment in CSP for stabilizing power grid is driving this country. In addition, the region focuses on the need to generate continuous renewable electricity to support growing economic activities will drive the concentrating solar power market in Asia Pacific region.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the concentrating solar power market such as Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), Aalborg CSP (Denmark), and SolarReserve (US) and other players such as TSK Flagsol Engineering GmbH (Germany), Alsolen (Morocco), Cobra Energia (Spain), Torresol Energy (Spain), Acciona Energy (Spain), eSolar (US), and Enel Green Power (Italy).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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