Solar Thermal Market to Strengthen Through 2031 as Decarbonization and Industrial Heat Demand Accelerate Global Adoption

Los Angeles-United State: QY Research has recently published a research report titled, "Global Solar Thermal Market Size, Status and Forecast 2020-2026" assessing various factors impacting its trajectory. Analysts have used primary and secondary research methodologies to determine the path of the market. The data includes historic and forecast values for a well-rounded understanding. The global Solar Thermal market is expected to augment in the forecast period owing to various drivers and opportunities that lie in the ever-growing market. This report includes assessment of various drivers, government policies, technological innovations, upcoming technologies, opportunities, market risks, restrains, market barriers, challenges, trends, competitive landscape, and segments.

In value terms, the global Solar Thermal (CSP) market is estimated at about US$1.27 billion in 2024 and is projected to reach roughly US$11.65 billion by 2032. This implies a robust compound annual growth rate of around 24% over 2015-2032, with a particularly strong upswing from 2020 to 2024 (35% CAGR) and a step-change year in 2025 when market value is expected to double versus 2024.

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Market Key Drivers

Climate policy remains a central catalyst. Governments worldwide are introducing incentives, building standards, and carbon reduction frameworks that encourage replacement of conventional heating sources.

Industrial energy demand is another significant driver. Many manufacturing processes require medium-temperature heat that solar thermal systems can provide efficiently, reducing exposure to volatile fuel prices.

Urbanization and population growth are reinforcing residential and commercial installations. New buildings increasingly incorporate renewable technologies as standard features.

Additionally, advancements in storage technologies are enabling better alignment between heat supply and demand, improving system utilization.

Market Competition

The vendor landscape and competitive scenarios of the global Solar Thermal market are broadly analyzed to help market players gain competitive advantage over their competitors. Readers are provided with detailed analysis of important competitive trends of the global Solar Thermal market. Market players can use the analysis to prepare themselves for any future challenges well in advance. They will also be able to identify opportunities to attain a position of strength in the global Solar Thermal market. Furthermore, the analysis will help them to effectively channelize their strategies, strengths, and resources to gain maximum advantage in the global Solar Thermal market.

Key players profiled in the report on the Global Solar Thermal Market are:

 Abengoa
 SENER
 COBRA
 ACCIONA
 TSK
 GE
 Cosin Solar
 Shanghai Electric
 POWERCHINA
 Dacheng Technology
 Shouhang High-Tech
 Energy China (CEEC)
 CSIC New Energy

Product and Application Segments

The report comes out as an accurate and highly detailed resource for gaining significant insights into the growth of different product and application segments of the global Solar Thermal market. Each segment covered in the report is exhaustively researched about on the basis of market share, growth potential, drivers, and other crucial factors. The segmental analysis provided in the report will help market players to know when and where to invest in the global Solar Thermal market. Moreover, it will help them to identify key growth pockets of the global Solar Thermal market.

Segment by Type

Power Tower
Parabolic Trough
Linear Fresnel
Dish

Segment by Application

Small scale DHW systems
Large scale DHW systems
Swimming pool heating
Solar combi systems
Others

Regional Insights

Europe continues to lead in deployment, supported by strong regulatory backing, established district heating networks, and ambitious climate objectives. Investment in modernization of existing infrastructure sustains equipment demand.

Asia-Pacific is demonstrating rapid growth, driven by large-scale urban development and rising awareness of renewable solutions. Several countries in the region are integrating solar thermal systems into public housing and industrial zones.

North America shows increasing momentum, particularly in commercial applications and community energy projects. Decarbonization strategies are encouraging broader adoption.

Regions with high solar irradiance, including parts of the Middle East, Africa, and Latin America, present significant long-term potential as infrastructure investment expands.

Market Trends & Dynamics

Hybridization is emerging as a prominent trend. Solar thermal systems are increasingly paired with heat pumps, biomass, or conventional boilers to ensure reliability and flexibility.

Digitalization is improving performance optimization. Smart controllers and data analytics enable precise energy management, maximizing return on investment.

Another dynamic is the push toward larger-scale installations. District heating projects and industrial facilities require integrated solutions capable of delivering consistent output.

Cost competitiveness continues to improve as manufacturing efficiencies increase and installation practices mature.

Meanwhile, research efforts are focused on advanced materials and improved storage methods, which may significantly enhance future system performance.

How can the research study help your business?

(1) The information presented in the Solar Thermal report helps your decision makers to become prudent and make the best business choices.

(2) The report enables you to see the future of the global Solar Thermal market and accordingly take decisions that will be in the best interest of your business.

(3) It offers you a forward-looking perspective of the global Solar Thermal market drivers and how you can secure significant market gains in the near future.

(4) It provides SWOT analysis of the global Solar Thermal market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.

(5) It also assesses the changing competitive dynamics of the global Solar Thermal market using pin-point evaluation.

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Table of Content

1 MARKET OVERVIEW 1
1.1 Solar Thermal (CSP) Product Introduction 1
1.2 Global Solar Thermal (CSP) Market Size Forecast 2
1.2.1 Global Solar Thermal (CSP) Sales Value (2021-2032) 3
1.2.2 Global Solar Thermal (CSP) Sales Volume (2015-2032) 4
1.2.3 Global Solar Thermal (CSP) Sales Price (2021-2032) 5
1.3 Solar Thermal (CSP) Market Trends & Drivers 5
1.3.1 Solar Thermal (CSP) Industry Trends 5
1.3.2 Solar Thermal (CSP) Market Drivers & Opportunity 8
1.3.3 Solar Thermal (CSP) Market Challenges 12
1.3.4 Solar Thermal (CSP) Market Restraints 18
1.4 Assumptions and Limitations 20
1.5 Study Objectives 20
1.6 Years Considered 21
2 COMPETITIVE ANALYSIS BY COMPANY 22
2.1 Global Solar Thermal (CSP) Players Revenue Ranking (2024) 22
2.2 Global Solar Thermal (CSP) Revenue by Company (2015-2026) 22
2.3 Key Companies Solar Thermal (CSP) Service Scope and Headquarter (2024) 24
2.4 Key Companies Time to Established 26
2.5 Key Companies Solar Thermal Product Offered 28
2.6 Global Solar Thermal (CSP) Average Price by Company (2015-2026) 30
2.7 Solar Thermal (CSP) Market Competitive Analysis 31
2.7.1 Solar Thermal (CSP) Market Concentration Rate (2015-2026) 31
2.7.2 Global 3 Largest Manufacturers by Solar Thermal (CSP) Revenue in 2024 32
2.7.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Solar Thermal (CSP) as of 2024) 32
2.8 Mergers & Acquisitions, Expansion 33
3 SEGMENTATION BY TYPE 34
3.1 Introduction by Type 34
3.1.1 Power Tower 35
3.1.2 Parabolic Trough 36
3.1.3 Linear Fresnel 38
3.1.4 Parabolic Dish 40
3.2 Global Solar Thermal (CSP) Sales Value by Type 42
3.2.1 Global Solar Thermal (CSP) Sales Value by Type (2020 VS 2024 VS 2032) 42
3.2.2 Global Solar Thermal (CSP) Sales Value, by Type (2015-2032) 43
3.2.3 Global Solar Thermal (CSP) Sales Value, by Type (%) (2015-2032) 44
4 SEGMENTATION BY REGION 46
4.1 Global Solar Thermal (CSP) Sales Value by Region 46
4.1.1 Global Solar Thermal (CSP) Sales Value by Region: 2020 VS 2024 VS 2025 VS 2032 46
4.1.2 Global Solar Thermal (CSP) Sales Value by Region (2015-2032) 46
4.1.3 Global Solar Thermal (CSP) Sales Value by Region (%), (2015-2032) 47
4.2 Global Solar Thermal (CSP) Price by Region 50
4.3 Global Solar Thermal (CSP) New Capacity by Region 51
4.3.1 Global Solar Thermal (CSP) New Capacity by Region: 2020 VS 2024 VS 2025 VS 2032 51
4.3.2 Global Solar Thermal (CSP) New Capacity by Region (2015-2032) 51
4.3.3 Global Solar Thermal (CSP) New Capacity by Region (%), (2015-2032) 52
4.4 Global Solar Thermal (CSP) Cumulative Capacity by Region 54
4.4.1 Global Solar Thermal (CSP) Cumulative Capacity by Region: 2020 VS 2024 VS 2025 VS 2032 54
4.4.2 Global Solar Thermal (CSP) Cumulative Capacity by Region (2015-2032) 55
4.4.3 Global Solar Thermal (CSP) Cumulative Capacity by Region (%), (2015-2032) 56
4.5 China 58
4.5.1 China Solar Thermal (CSP) Sales Value, 2015-2032 58
4.5.2 China Solar Thermal (CSP) New Capacity, 2015-2032 59
4.5.3 China Solar Thermal (CSP) Cumulative Capacity, 2015-2032 59
4.6 Europe 60
4.6.1 Europe Solar Thermal (CSP) Sales Value, 2015-2032 60
4.6.2 Europe Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 61
4.6.3 Europe Solar Thermal (CSP) New Capacity, 2015-2032 62
4.6.4 Europe Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 62
4.6.5 Europe Solar Thermal (CSP) Cumulative Capacity, 2015-2032 63
4.6.6 Europe Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 64
4.7 North America 65
4.7.1 North America Solar Thermal (CSP) Sales Value, 2015-2032 65
4.7.2 North America Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 66
4.7.3 North America Solar Thermal (CSP) New Capacity, 2015-2032 67
4.7.4 North America Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 68
4.7.5 North America Solar Thermal (CSP) Cumulative Capacity, 2015-2032 69
4.7.6 North America Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 70
4.8 MENA 71
4.8.1 MENA Solar Thermal (CSP) Sales Value, 2015-2032 71
4.8.2 MENA Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 72
4.8.3 MENA Solar Thermal (CSP) New Capacity, 2015-2032 72
4.8.4 MENA Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 73
4.8.5 MENA Solar Thermal (CSP) Cumulative Capacity, 2015-2032 74
4.8.6 MENA Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 75
4.9 South America 76
4.9.1 South America Solar Thermal (CSP) Sales Value, 2015-2032 76
4.9.2 South America Solar Thermal (CSP) New Capacity, 2015-2032 77
4.9.3 South America Solar Thermal (CSP) Cumulative Capacity, 2015-2032 77
4.10 Sub-Saharan Africa 78
4.10.1 Sub-Saharan Africa Solar Thermal (CSP) Sales Value, 2015-2032 78
4.10.2 Sub-Saharan Africa Solar Thermal (CSP) New Capacity, 2015-2032 79
4.10.3 Sub-Saharan Africa Solar Thermal (CSP) Cumulative Capacity, 2015-2032 79
4.11 APeC 80
4.11.1 APeC Solar Thermal (CSP) Sales Value, 2015-2032 80
4.11.2 APeC Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 81
4.11.3 APeC Solar Thermal (CSP) New Capacity, 2015-2032 81
4.11.4 APeC Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 82
4.11.5 APeC Solar Thermal (CSP) Cumulative Capacity, 2015-2032 83
4.11.6 APeC Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 84
5 SEGMENTATION BY KEY COUNTRIES/REGIONS 85
5.1 Key Countries/Regions Solar Thermal (CSP) Sales Value, 2015-2020 85
5.2 Key Countries/Regions Solar Thermal (CSP) New Capacity, 2015-2020 87
5.3 Key Countries/Regions Solar Thermal (CSP) Cumulative Capacity, 2015-2020 90
6 CORPORATE PROFILE 93
6.1 Abengoa 93
6.1.1 Abengoa Profile 93
6.1.2 Abengoa Main Business 95
6.1.3 Abengoa Solar Thermal (CSP) Products, Services and Solutions 97
6.1.4 Abengoa Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 102
6.1.5 Abengoa Recent Developments 103
6.2 SENER 104
6.2.1 SENER Profile 104
6.2.2 SENER Main Business 107
6.2.3 SENER Solar Thermal (CSP) Products, Services and Solutions 108
6.2.4 SENER Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 110
6.2.5 SENER Recent Developments 111
6.3 COBRA 112
6.3.1 COBRA Profile 112
6.3.2 COBRA Main Business 115
6.3.3 COBRA Solar Thermal (CSP) Products, Services and Solutions 117
6.3.4 COBRA Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 119
6.3.5 COBRA Recent Developments 120
6.4 ACCIONA 121
6.4.1 ACCIONA Profile 122
6.4.2 ACCIONA Main Business 125
6.4.3 ACCIONA Solar Thermal (CSP) Products, Services and Solutions 126
6.4.4 ACCIONA Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 128
6.4.5 ACCIONA Recent Developments 128
6.5 TSK 129
6.5.1 TSK Profile 130
6.5.2 TSK Main Business 132
6.5.3 TSK Solar Thermal (CSP) Products, Services and Solutions 134
6.5.4 TSK Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 138
6.5.5 TSK Recent Developments 138
6.6 GE 139
6.6.1 GE Profile 140
6.6.2 GE Main Business 142
6.6.3 GE Solar Thermal (CSP) Products, Services and Solutions 144
6.6.4 GE Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 145
6.6.5 GE Recent Developments 146
6.7 Cosin Solar 146
6.7.1 Cosin Solar Profile 147
6.7.2 Cosin Solar Main Business 150
6.7.3 Cosin Solar Solar Thermal (CSP) Products, Services and Solutions 151
6.7.4 Cosin Solar Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 155
6.7.5 Cosin Solar Recent Developments 156
6.8 Shanghai Electric 157
6.8.1 Shanghai Electric Profile 157
6.8.2 Shanghai Electric Main Business 160
6.8.3 Shanghai Electric Solar Thermal (CSP) Products, Services and Solutions 162
6.8.4 Shanghai Electric Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 165
6.8.5 Shanghai Electric Recent Developments 166
6.9 POWERCHINA 168
6.9.1 POWERCHINA Profile 168
6.9.2 POWERCHINA Main Business 171
6.9.3 POWERCHINA Solar Thermal (CSP) Products, Services and Solutions 173
6.9.4 POWERCHINA Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 178
6.9.5 POWERCHINA Recent Developments 179
6.10 Dacheng Technology 180
6.10.1 Dacheng Technology Profile 181
6.10.2 Dacheng Technology Main Business 183
6.10.3 Dacheng Technology Solar Thermal (CSP) Products, Services and Solutions 185
6.10.4 Dacheng Technology Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 189
6.10.5 Dacheng Technology Recent Developments 190
6.11 Shouhang High-Tech 192
6.11.1 Shouhang High-Tech Profile 192
6.11.2 Shouhang High-Tech Main Business 195
6.11.3 Shouhang High-Tech Solar Thermal (CSP) Products, Services and Solutions 196
6.11.4 Shouhang High-Tech Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 200
6.11.5 Shouhang High-Tech Recent Developments 200
6.12 Energy China (CEEC) 203
6.12.1 Energy China (CEEC) Profile 204
6.12.2 Energy China (CEEC) Main Business 208
6.12.3 Energy China (CEEC) Solar Thermal (CSP) Products, Services and Solutions 209
6.12.4 Energy China (CEEC) Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 212
6.12.5 Energy China (CEEC) Recent Developments 213
6.13 CSIC New Energy 213
6.13.1 CSIC New Energy Profile 214
6.13.2 CSIC New Energy Main Business 217
6.13.3 CSIC New Energy Solar Thermal (CSP) Products, Services and Solutions 219
6.13.4 CSIC New Energy Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 220
6.13.5 CSIC New Energy Recent Developments 221
7 INDUSTRY CHAIN ANALYSIS 223
7.1 Solar Thermal Industrial Chain 223
7.2 Solar Thermal Upstream Analysis 226
7.2.1 Solar Thermal Key Raw Materials 226
7.2.2 Raw Materials Key Suppliers 227
7.2.3 Manufacturing Cost Structure 228
7.3 Downstream Analysis (Customers Analysis) 231
7.4 Sales Model 233
8 RESEARCH FINDINGS AND CONCLUSION 235
9 APPENDIX 239
9.1 Research Methodology 239
9.1.1 Methodology/Research Approach 239
9.1.2 Data Source 242
9.2 Author Details 245
9.3 Disclaimer 245

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