Press release
Growing Demand For Renewable Energy Drives Concentrating Solar Power Market Growth: The Driving Engine Behind Concentrating Solar Power Market Evolution in 2025
Concentrating Solar Power Market Size
Concentrating Solar Power Market Size Growth Forecast: What to Expect by 2025?
In recent years, the market size for concentrating solar power has seen a substantial surge. As per projections, it is set to increase from $7.89 billion in 2024 to a whopping $9.38 billion in 2025, with a compound annual growth rate (CAGR) of 19.0%. The significant growth experienced during the historic period is linked to factors such as government incentives, environmental awareness, energy security, and an increase in global energy demand.
How Will the Concentrating Solar Power Market Size Evolve and Grow by 2029?
Over the coming years, the market size of concentrating solar power is predicted to experience a swift expansion. It is expected to reach a value of $16.98 billion in 2029, reflecting a compound annual growth rate (CAGR) of 16.0%. Factors contributing to the growth in the forecast period include reductions in costs, policy support, the integration of storage capabilities and efforts to mitigate climate change. Key trends during the forecast period encompass hybridization, advanced storage solutions, technological advancements, the expansion of the global market, commitments from corporations towards sustainability, and a concentrated focus on decentralized energy production.
View the full report here:
https://www.thebusinessresearchcompany.com/report/concentrating-solar-power-global-market-report
What Drivers Are Propelling the Growth of Concentrating Solar Power Market Forward?
The expanding need for renewable energy is fueling the development of the concentrating solar power market. Energy derived from renewable sources including wind, rain, sunlight, tides, waves, and geothermal heat lessens the impact of global warming and problems associated with fossil fuels. Regulations aimed at decreasing greenhouse gas emissions, coupled with the ever-increasing demand for electricity, are encouraging the adoption and demand for renewable energy. Concentrating solar power technologies utilize mirrors to focus the sun's light energy and transform it into heat, which powers a turbine to generate electricity. IEA, a Paris-based autonomous intergovernmental organization, reported in January 2024 that the world had added 50% more renewable capacity in 2023 than in the previous year, forecasting the next five years to witness the most rapid growth yet. Solar PV and wind power are anticipated to contribute to 95% of this expansion, with renewables predicted to surpass coal as the leading source of global electricity generation by early 2025. Therefore, the increasing need for renewable energy is propelling the concentrating solar power market's expansion.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6410&type=smp
Which Emerging Trends Are Transforming the Concentrating Solar Power Market in 2025?
Key players in the Concentrating Solar Power (CSP) market are leveraging innovative strides like the Gen3 Concentrating Solar Power (CSP) commercial demonstration to boost energy efficiency and sustainability. This is in response to the escalating demand for renewable energy solutions and their commitment to assist in worldwide carbon emission reduction drives. Gen3 Concentrating Solar Power (CSP) commercial demonstration focuses on the active deployment and field testing of advanced third-generation CSP technologies that aim to increase efficiency and affordability in solar power generation, thereby encouraging broader acceptance and investment in renewable energy solutions. For instance, in October 2023, Heliogen Inc., a US-based electric services company, achieved two significant product development milestones in relation to its Capella Project, the world's maiden fully integrated Gen3 Concentrating Solar Power (CSP) commercial demonstration. These include the roll-out of the first commercial-scale centrifugal particle receiver for on-sun testing and the successful completion of the prototype particle receiver design validation for Capella. The introduction of this innovative technology allows industries to tap into solar energy for high-priority procedures, lowering dependence on fossil fuels and enhancing economic results, while aiding in efforts to combat climate change.
What Are the Key Segments in the Concentrating Solar Power Market?
The concentrating solar power market covered in this report is segmented -
1) By Technolog: Parabolic Trough, Solar Power Tower, Fresnel Reflectors, Dish Stirling
2) By Capacit: Less Than or Equal To 50 MW, Greater Than 50 MW To Less Than or Equal To 100 MW, Greater Than 100 MW
3) By Heat Transfer Fluid: Molten Salt, Water-Based, Oil-Based, Other Heat Transfer Fluids
4) By Storage: With Storage, Without Storage
5) By Application: Utility, EOR, Desalination, Other Applications
Subsegments:
1) By Parabolic Trough: Single-Trough Systems, Dual-Trough Systems
2) By Solar Power Tower: Central Receiver Systems, Integrated Energy Storage Systems
3) By Fresnel Reflectors: Linear Fresnel Systems, Fixed vs. Tracking Systems
4) By Dish Stirling: Stand-Alone Systems, Hybrid Systems
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=6410&type=smp
Who Are the Key Players Shaping the Concentrating Solar Power Market's Competitive Landscape?
Major companies operating in the concentrating solar power market include Abengoa S. A., BrightSource Energy Inc., ACWA Power, Aalborg CSP A/S, General Electric Company, Atlantica Sustainable Infrastructure plc, TSK Flagsol Engineering GmbH, Enel Green Power Corporation, Acciona S. A., Frenell GmbH, Suntrace GmbH, Torresol Energy, Trivelli Energia srl, Soltigua S. r. l, Engie SA, Nextera Energy Inc., Chiyoda Corporation, Heliogen Inc., Siemens Energy AG, SolarReserve LLC, eSolar Inc., Schott AG, Sener Grupo de Ingeniería group., Lointek Sistemas Solar Térmicos, GlassPoint Solar Inc., Rackam Energy, Soliterm Group GmbH
What Geographic Markets Are Powering Growth in the Concentrating Solar Power Market?
North America was the largest region in the concentrating solar power market in 2024. Asia-Pacific is expected to be the fastest-growing region in the concentrating solar power market share during the forecast period. The regions covered in the concentrating solar power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Purchase the full report :
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6410
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Growing Demand For Renewable Energy Drives Concentrating Solar Power Market Growth: The Driving Engine Behind Concentrating Solar Power Market Evolution in 2025 here
News-ID: 4077733 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
