Concentrating Solar Power Market is Projected to Grow at a CAGR of 10.3% from 2016 to 2021.

The report "Concentrating Solar Power Market by Technology (Parabolic Trough, Power Tower, Linear Fresnel & Dish/Engine system), Components (Solar field, Power Block, and Thermal Storage), End-User (Utilities, EOR & Others ), and Region - Global Forecast to 2021", The concentrating solar power market is projected to reach USD 10.96 billion by 2021, growing at a CAGR of 10.3% from 2016 to 2021. Concentrating solar power are used in residential, commercial, and industrial. Growing environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies and dispatchability of power. On the other hand, higher initial investment and higher payback time period are the major restraints of the global concentrating solar power market.

                        

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Parabolic Trough segment is expected to hold the largest share of the concentrating solar power market, by technology, during the forecast period

The parabolic trough segment led the overall concentrating solar power market in 2015. Parabolic trough systems are applicable in all types of end-user industries such as utilities, Enhanced oil recovery, and other end users such as mining and desalination among others. Parabolic trough technology is most commercialized and mature technology in the CSP technology arena.

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Utilities are expected to hold the largest market share of the concentrating solar power market, by end-users, during the forecast period

The utilities segment is expected to hold the largest share in the concentrating solar power market during the forecast period. Utilities sector includes utility scale power generation projects located at islands or on/off-grid areas. Dispatchable power is the key driving factor for CSP that creates huge opportunity for implementing concentrating solar power projects in areas with high solar irradiance.

The Middle East & Africa is the largest market for concentrating solar power

In this report, the concentrating solar power market has been analyzed with respect to five regions, namely, the North America, Europe, Asia-Pacific, South America and the Middle East & Africa. The Middle East & Africa is estimated to be the largest market for concentrating solar power till 2021. Middle East & African countries have high solar irradiance which provides a huge opportunity to implement concentrating solar power at utility scale.

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The report’s target audience includes:

·         Concentrating solar power solution providers

·         CSP component manufacturers

·         Thermal Energy storage manufacturers

·         Regional renewable energy associations

·         Government organizations and research institutions

·         Consulting companies in the energy & solar sector

·         Solar and wind energy associations

·         Environmental associations

·         Investment banks

Market Ecosystem

The ecosystem of the global concentrating solar power market starts with suppliers of basic components/equipment such as reflectors/mirrors, receivers/engines, power block, and miscellaneous parts. The manufactured parts or sub-assemblies are then assembled by the EPC contractors authorized by the project developers to form a complete CSP plant. The top players in the industry market their products through self-operated sales offices located near target markets, while regional players rely on distribution partnerships to access diverse markets. Some of the major players in the concentrating solar power market are Abengoa Solar (Spain), Aalborg CSP (Denmark), ACWA Power (Saudi Arabia), BrightSource Energy, Inc. (U.S) and eSolar Inc (U.S), among others.

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