The Concentrated Solar Power (CSP) Market is expected to grow from an estimated $2.9 billion in 2015 to $10.8 billion by 2022, at a compound annual growth rate (CAGR) of 20.8% during the forecast period.
Solar power is one of the most important renewable energy sources available today. And while solar photovoltaic (PV) technology gets the most attention, another form of solar power — concentrating solar power (CSP) — is also gaining ground. CSP technology works by using mirrors or lenses to concentrate a large area of sunlight onto a small area. This concentrated light can then be used to generate electricity or heat. CSP systems can be used to power anything from individual homes to entire cities. The global CSP market is expected to grow significantly in the next few years, thanks to increasing demand for renewable energy and declining costs of CSP technology
Concentrating solar power technology is the most mature of the three types of solar thermal power technologies.
Concentrating solar power technology was first developed in the 1970s, and commercial plants have been in operation since the early 1980s. More than 1,000 megawatts (MW) of concentrating solar power capacity has been installed worldwide as of 2010. The largest concentrating solar power plant in the world is the 354-MW SEGS facility in California’s Mojave Desert. There are also large plants in Spain and Morocco.
While initial costs for concentrating solar power plants are high, they can be reduced with mass production and improved efficiency. Concentrating solar power plants also have low operating costs and produce no emissions. These attributes make concentrating solar power an attractive option for large-scale electricity generation.
In this section of the report, the researchers have done a comprehensive analysis of the prominent players operating and the strategies they are focusing on to combat the intense competition. Company profiles and market share analysis of the prominent players are also provided in this section.
Additionally, the specialists have done an all-encompassing analysis of each player. They have also provided reliable revenue, market share and rank data of the companies for the period 2017-2022. With the assistance of this report, key players, stakeholders, and other participants will be able to stay abreast of the recent and upcoming developments in the business, further enabling them to make efficient choices. Mentioned below are the prime players taken into account in this research report:
- BrightSource Energy
- ACWA Power
- Aalborg CSP
- General Electric
- Torresol Energy
- Wilson Solarpower
- Shams Power
- Thai Solar Energy
- Enel Green Power
- GlassPoint Solar
- Atlantica Yield
- TSK Flagsol Engineering
- Cobra Energia
- Frenell GmbH
- Acciona Energy
- Archimede Solar Energy
- Chiyoda Corporation
Get Sample Copy Of This Report@ https://www.reportsandmarkets.com/sample-request/global-concentrating-solar-power-csp-technology-market-4490198?utm_source=analyzermarket&utm_medium=34
This report has explored the key segments: by Type and by Application. The lucrativeness and growth potential have been looked into by the industry experts in this report. This report also provides revenue forecast data by type and by application segments based on value for the period 2017-2028.
Segment by Type
- Solar Power Towers
- Linear Concentrating Systems
- Dish Stirling Technology
Segment by Application
- Generate Electricity
- Industrial Heating
Segment by Region
- North America,
- Europe, Asia-Pacific (APAC),
- Latin America,
- Middle East & Africa (MEA).
There are a few key dynamics that are shaping the concentrating solar power (CSP) technology market.
- First, the cost of CSP technology has declined significantly in recent years, making it more competitive with other forms of renewable energy.
- Second, there is a growing demand for CSP systems that can provide dispatchable power, meaning they can generate electricity on demand rather than only when the sun is shining. This is a key advantage of CSP over other forms of renewable energy such as wind and solar PV.
- Third, there is increasing interest in using CSP technology for thermal applications such as industrial process heat and desalination. This is because CSP systems can efficiently generate high-temperature heat that can be used in a variety of industrial processes.
The above dynamics are creating opportunities for growth in the CSP technology market. For example, there is a growing market for small-scale CSP systems that can be used for distributed generation and off-grid applications. There is also an increasing demand for CSP systems that use novel technologies such as molten salt storage, which can enable long-duration storage of solar energy.
- One of the main drivers for the concentrating solar power (CSP) technology market is the increasing demand for renewable energy. The world is increasingly turning to renewable energy sources to meet its energy needs, and concentrated solar power (CSP) is one of the most promising technologies in this area. concentrated solar power (CSP) plants can generate large amounts of electricity with minimal environmental impact, making them an attractive option for countries looking to reduce their carbon footprint.
- Another driver for the concentrated solar power (CSP) market is the falling cost of solar photovoltaic (PV) technology. PV panels are used to concentrate sunlight onto a receiver, which converts it into heat that can then be used to generate electricity. The cost of PV panels has fallen dramatically in recent years, making concentrated solar power (CSP) plants more competitive with traditional forms of generation such as coal and natural gas.
- Finally, a number of governments are providing financial incentives for the development of concentrated solar power (CSP) plants. These incentives can help offset the upfront costs of building a plant, making concentrated solar power (CSP) an attractive option for developers.
concentrated solar power (CSP) technology faces several market restraints that are impeding its growth.
- Firstly, concentrated solar power (CSP) plants are still relatively expensive to build and operate compared to other forms of renewable energy like solar PV and wind power. This high cost is due to the need for specialized materials and equipment, as well as the limited scale of deployment.
- Secondly, concentrated solar power (CSP) plants require large tracts of land in order to collect enough solar radiation to generate power. This can be a problem in areas with limited land resources or where land is already being used for other purposes.
- Thirdly, concentrated solar power (CSP) plants only produce electricity during daytime hours when the sun is shining. This means that they must be paired with another form of energy generation (usually natural gas) in order to provide round-the-clock power.
concentrated solar power (CSP) technology has been around for centuries, but it’s only recently that it has been used to generate electricity on a large scale. concentrated solar power (CSP) plants are now operating in countries such as the United States, Spain, China, and India.
North America is expected to be the largest market for concentrated solar power (CSP) technology due to government initiatives to promote the use of renewable energy sources and favorable policies & regulations regarding solar power generation.
The US Department of Energy has been investing heavily in research & development activities related to solar power generation. Also, many states in the US have adopted Renewable Portfolio Standards (RPS), which mandate utilities to source a certain percentage of their electricity from renewable sources. These factors are expected to drive the growth of concentrated solar power (CSP) technology market in North America during the forecast period.
Europe is another major market for concentrated solar power (CSP) technology due to government incentives & support for solar power generation. The European Union has set targets for
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will understand how the Concentrating Solar Power (CSP) Technology market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.
Table of Content
1 Report Business Overview
2 Global Growth Trends
3 Competition Landscape by Key Players
4 Concentrating Solar Power (CSP) Technology Breakdown Data by Type
5 Concentrating Solar Power (CSP) Technology Breakdown Data by Application
6 North America
9 Latin America
10 Middle East & Africa
11 Key Players Profiles
12 Analyst’s Viewpoints/Conclusions
For Enquiry before buying report @ https://www.reportsandmarkets.com/enquiry/global-concentrating-solar-power-csp-technology-market-4490198?utm_source=analyzermarket&utm_medium=34