According to the new
market research 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 expected to grow at a CAGR of 10.3%
from 2016 to 2021, to reach a market size of USD 10.96 billion by 2021. 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 are the major drivers of the concentrating
solar power market.
The concentrating solar
power market is dominated by a few global players that have an extensive
regional presence and are established brand names. Leading players in the
concentrating solar power industry include Abengoa Solar (Spain), Aalborg CSP
(Denmark), ACWA Power (Saudi Arabia), BrightSource Energy, Inc. (U.S) and
eSolar Inc (U.S), among others.
Browse and
in-depth TOC on "Concentrating Solar Power Market"
88 - Tables
56 - Figures
131 - Pages
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TOC @
The
power tower segment is estimated to be the fastest growing market for
concentrating solar power from 2016 to 2021. A power tower utilizes many large,
sun-tracking mirrors to focus sunlight on a receiver at the top of a tower, a
heat transfer fluid in the receiver aids in steam generation generate steam to
produce electricity. Parabolic trough segment has maximum market share in total
CSP market. The main reason behind maximum share is falling price of solar CSP
and at par solar irradiance in Middle East & Africa and Asia-Pacific region.
Utility
scale power generation is estimated to be the fastest growing market by end
user segment for concentrating solar power during the forecast period.
Concentrating solar power are largely applicable for utility scale power
generation owing to the ability of dispatchable power potential. Based on
end-user, the utilities segment is estimated to be the fastest growing market
during the forecast period. Demand for utilities is mainly driven in off grid
areas with high solar irradiance in Asia-Pacific and Middle East & African
countries.
The Middle East
& African market is projected to be the largest growing for concentrating
solar power installations from 2016 to 2021. The Middle East & African
market’s growth is driven by power generation, enhanced oil recovery and
desalination industry operations. Morocco, Saudi Arabia, UAE, and Oman are
expected to witness significant growth during the forecast period. Morocco is one of the most attractive market
for CSP installations and has many CSP projects under development and in the
pipeline.
