Concentrating Solar Power Market 2018 Global Leaders Analysis | Areva Solar, Abengoa Solar S.A., SkyFuel Inc., eSolar Inc., BrightSource Energy Inc., Acciona S.A., SolarReserve LLC, Solar Millennium AG

Global Concentrating Solar Power Market – Overview
Solar power has emerged already as a popular source of clean energy, concentrating solar power is further building on this success story effectively. Market Research Future which focuses on market reports connected to energy & power sector amongst others recently made available a report on this sector. The industry is expected to grow with a steadily developing pace while achieving encouraging figures in terms of revenue and CAGR rate in the forecast period.

As CSP significantly amplifies the potential of harnessing solar power, it is experiencing immense demand from a lot of sectors. CSP can be efficiently applied to areas that do not have a large geographical area to implement the CSP panels effectively. Increasing environmental pressures will be important for the further development of the market. Increased awareness towards cleaner energy alternatives will help in development of the market favorably in the forecast period.

Industry Updates:
Feb 2018 JA Solar Holdings Co Ltd which is a Chinese solar products maker recently stated that it has supplied for a portion of a 250-MW project in Israel about 35 MW of photovoltaic (PV) modules. The mono PERC modules are fuelling a solar plant inside the 250-MW Ashalim park in the Negev desert, which will pool concentrating PV technology and solar power (CSP). When finished, the whole complex is anticipated to source 2% of Israel’s total electricity demand.

Sep 2017 Dubai Electricity and Water Authority of late presented a record bid of $7.3 cents per KWh for the 700MW parabolic trough concentrated solar power phase 4 of the Mohammed bin Rashid Al Maktoum Solar Park in a Saudi Arabia- China consortium.The plan is regarded as the main concentrated solar power development in the world, and was given to a consortium involving China’s Shanghai Electric and Saudi Arabia’s ACWA Power. The mega venture will cost around $3.9 billion, and is anticipated to be built in stages, with the first stage planned for the fourth quarter of the year 2020. Though, financial closure has not been attained yet, it is known that $850 million of the amount will come from ACWA equity. The project will include the world’s highest solar tower of 260 meters.

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Key Players
The major player operating in the market of Global Concentrating Solar Power are Areva Solar, Abengoa Solar S.A., SkyFuel Inc., eSolar Inc., BrightSource Energy Inc., Acciona S.A., SolarReserve LLC, Solar Millennium AG, SCHOTT Solar AG, TSK Flagsol

Global Competitive Analysis
The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The industry players in the segment are efficiently utilizing their primary resources to initiate long lasting growth changes. A trend of volume-driven growth has been witnessed in the market of late with the development of different varieties of product types. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.

The leading market players in the market for global insulation include Huntsman Corporation, Knauf Gips, Owens Corning, CertainTeed Corporation, Johns Manville to name a few.

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Detailed Regional Analysis
While considering the regional analysis of this market, the European market is likely to lead the concentrating solar power industry while considering the fresh projects and the number of installation with an aim to reduce greenhouse gas emission. Furthermore, administration initiatives towards renewable power generation at grid scale is acting as a main driver for the development of sector in the European region. Whereas, the Asia Pacific area is growing at a decent pace throughout the forecast period since key installations are taking place in nations such as India and China. Construction of Asia’s main concentrated solar power plant in the forecast period will be pushing the market growth in this region.

The foremost player operating in the market are Solar Millennium AG, BrightSource Energy Inc., SolarReserve LLC, Abengoa Solar S.A., SkyFuel Inc., Areva Solar, eSolar Inc. and Acciona S.A.

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