Concentrating Solar Power Market by Technology (Solar Power Tower, Linear Concentrating System, Dish Stirling), Operation Type (Stand-alone, Storage), Capacity (

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By Market Players:

BrightSource Energy

Solar Millennium AG

Abengoa

Areva

Siemens

Acciona

eSolar

SolarReserve

Schott

Wilson Solarpower

Cool Earth

Novatec

Lointek

Acciona Energy

Shams Power

ZED Solar

Absolicon

Rioglass Solar

Greenera Energy India Pvt

Sunhome

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By Type

Trench Concentrating Solar Power Systems

Tower-Type Solar Power Tower System

Dish Concentrating Solar Power Systems

Other

Challenges: Solar PV is cheaper than CSP
Photovoltaics is the process of converting light (photons) to electricity (voltage). A photovoltaic system is made up of different components, such as PV modules, one or more batteries, a charge regulator or controller, inverter, wiring, and mounting hardware or a framework. Although CSP is more efficient in terms of energy saving, PV is cheaper than CSP; hence energy investors are more inclined to use PV. According to the Solar Energy Industries Association, the US installed 3.6 GW of solar PV capacity in Q1 2020 to reach up to 81.4 GW of total installed capacity-enough to power 15.7 million American homes. The cost of installing solar PV has dropped by more than 70% over the last few decades. This will lead the PV industry to expand into new markets and result in the installation of thousands of systems worldwide, this is a major challenge for the big players in the concentrating solar power market.

Solar Power Towers segment, by technology, is expected to be the largest market during forecast period
By technology, the concentrating solar power market has been segmented into solar power towers, linear concentrating systems, and dish Stirling technology. Solar power towers segment is expected to be the largest segment during the forecast period. The market for the solar power towers segment is driven by the higher efficiency of the steam cycle and the potential to reach high temperatures for power generation operations.

By operation type, storage segment is expected to be the most significant contributor to the concentrating solar power market during the forecast period
By operation type, the concentrating solar power market has been segmented into stand-alone, and storage. Storage segment is expected to be the largest segment during the forecast period. The market for the storage segment is driven by the need to generate continuous power during the night and the ability to operate the plant for a longer time.

Utilities segment, by end user, is expected to be the largest market during forecast period
By end user, the concentrating solar power market has been segmented into utilities, enhanced oil recovery (EOR), and others. Utilities segment is expected to be the largest segment during the forecast period. The utilities segment is driven by the increasing energy demand and the ability to store energy for future use

"Asia Pacific: The largest and fastest concentrating solar power market"
Asia Pacific is expected to dominate the concentrating solar power market between 2022-2027, followed by Middle East & Africa. The concentrating solar power market growth in Asia Pacific, and Middle East & Africa is expected to be backed by the growing demand for continuous generation of electricity and increasing support from governments to adopt renewable technologies in key countries such as China, India, Morocco, the UAE, and Saudi Arabia.

By Application

Generate Electricity

Industrial Heating

Other

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On the basis of by technology, the concentrating solar power market has been segmented as follows:
Solar Power Towers
Linear Concentrating Systems
Dish Stirling Technology

On the basis of operation type, the concentrating solar power market has been segmented as follows:
Stand-alone
Storage

On the basis of capacity, the concentrating solar power market has been segmented as follows:
Less than 50 MW
50 MW to 100 MW
100 MW and Above

On the basis of end user, the concentrating solar power market has been segmented as follows:
Utilities
Enhanced Oil Recovery (EOR)
Others

On the basis of region, the concentrating solar power market has been segmented as follows:
Asia Pacific
Europe
North America
Middle East & Africa
South America
Recent Developments

In January 2022, Abengoa has completed the construction of three 200 MW parabolic trough plants as part of phase IV of the Mohammed bid Rashid Al Maktoum Solar Park mega-project outside Dubai. The company worked under a contract with the phase IV EPC contractor Shanghai Electric Group and oversaw the technology, design, engineering, and construction of the parabolic trough plants.
In June 2021, ACWA made an offtake contract with Eskom Holdings SOC Ltd and secured about USD 800 million in funding to build the largest concentrated solar power plant in South Africa. Redstone CSP is designed to have a generation capacity of 100 MW and is set to enter commercial operations in the fourth quarter of 2023. The CSP plant will have a 12-hour thermal energy storage system so that it will be able to meet the power demand of nearly 200,000 homes 24/7.
In April 2019, BrightSource Energy partnered with General Electric for the ASHALIM project, a 121 MW capacity solar field that became operational in 2019. GE was responsible for the engineering, procurement, and construction (EPC) of the solar power station, with BrightSource providing the advanced solar field technology.
In February 2019, Aalborg CSP signed an agreement with Shanghai Electric Group to supply no-leaks steam generation systems to the Dubai 700 MW CSP project

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