DUBLIN--(BUSINESS WIRE)--The "Concentrating Solar Power Market by Technology - Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Concentrating Solar Power Market was valued at USD 37.40 billion in 2019 and is expected to garner USD 114.42 billion by 2030, expanding at a CAGR of 10.7%, during the forecast period, from 2020 and 2030.
Concentrating solar power is carbon free and renewable source of energy. The energy generated from concentrating solar power has wide range of applications in chemical production, food processing, water desalination, enhanced oil recovery, and mineral processing.
Concentrated solar power converts energy from the sunlight to power turbines that generate electricity. Mirrors or lenses concentrate the sunrays to a temperature ranging between 400C and 1,000C on the focal point of a receiver. The receiver produces steam or hot air that drives the turbine and the generator. The generator produces electricity, which is stored in grids and used for various applications.
The expansion of the global concentrating solar power market is attributed to the rising demand for energy, increase in government support for the adoption of renewable technologies. Moreover, growing awareness regarding environmental pollution by conventional power plants and rising concerns regarding global warming are fuelling the market growth.
However, high capital costs required for the deployment of concentrating solar power generation plants is hindering the market. Lack of availability of large spaces in high solar radiation zones, limited access to water, and less accessibility to transmission grid hamper market growth. On the other hand, high adoption and acceptance of concentrating solar power projects by market players and collaborations among players are expected to create opportunities for the market.
The concentrating solar power market is segmented based on technology, and geography. In terms of technology, the market is divided into parabolic trough, solar power tower, Fresnel reflectors, and dish stirling. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of World (RoW).
North America is expected to dominate the concentrating solar power market owing to the increase in the adoption of renewable energy. Moreover, presence of developed infrastructure in the region propels the market.
The market in Asia-Pacific is anticipated to grow owing to the presence of a number of developing countries in the region due to the presence of developing countries, rapid industrialization, growing awareness among people and governments, and increasing pollution resulting in global warming.
Companies Mentioned
- Abengoa Solar
- Acciona Energia
- ACWA Power
- Atlantica Yield
- BrightSource
- Frenell GMBH
- General Electric
- Siemens AG
- Suntrace AG
- Solarreserve LLC
Key Topics Covered:
1. Introduction
2. Market Snapshot, 2019-2030 Million Usd
2.1. Market Snapshot
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
5. Global Concentrating Solar Power Market, by Technology
5.1. Overview
5.2. Parabolic Trough
5.2.1 Parabolic Trough Market, by Region
5.2.1.1 North America Parabolic Trough Market, by Country
5.2.1.2 Europe Parabolic Trough Market, by Country
5.2.1.3 Asia-Pacific Parabolic Trough Market, by Country
5.2.1.4 Rest of World Parabolic Trough Market, by Country
5.3. Solar Power Tower
5.3.1 Solar Power Tower Market, by Region
5.3.1.1 North America Solar Power Tower Market, by Country
5.3.1.2 Europe Solar Power Tower Market, by Country
5.3.1.3 Asia-Pacific Solar Power Tower Market, by Country
5.3.1.4 Rest of World Solar Power Tower Market, by Country
5.4. Fresnel Reflectors
5.4.1 Fresnel Reflectors Market, by Region
5.4.1.1 North America Fresnel Reflectors Market, by Country
5.4.1.2 Europe Fresnel Reflectors Market, by Country
5.4.1.3 Asia-Pacific Fresnel Reflectors Market, by Country
5.4.1.4 Rest of World Fresnel Reflectors Market, by Country
5.5. Dish Stirling
5.5.1 Dish Stirling Market, by Region
5.5.1.1 North America Dish Stirling Market, by Country
5.5.1.2 Europe Dish Stirling Market, by Country
5.5.1.3 Asia-Pacific Dish Stirling Market, by Country
5.5.1.4 Rest of World Dish Stirling Market, by Country
6. Global Concentrating Solar Power Market, by Region
6.1. Overview
6.2. North America
6.3. Europe
6.4. Asia-Pacific
6.5. Rest of World
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/yu5xrk
