LONDON--(BUSINESS WIRE)--According to the market research report released by Technavio, the global concentrated solar power market is expected to accelerate at a CAGR of nearly 19% during the forecast period. Thermal energy storage increasing operational time of concentrated solar power is one of the key factors triggering the growth of the market.
This research report titled ‘Global Concentrated Solar Power Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global concentrated solar power market into the following technologies:
- Parabolic trough collector
- Solar tower
In 2017, the parabolic trough collector segment accounted for 85% of the global market and is projected to reach 86% by 2022, exhibiting almost 1% increase in market share.
Global concentrated solar power market: Top emerging trend
The use of hybrid concentrated solar power plant is an emerging trend in the concentrated solar power market space. Concentrated solar power plants are facing issues of solar power intermittency. However, this can be resolved by incorporating a thermal energy storage system with concentrated solar power plants. To allow concentrated solar power plants to provide baseload electricity, the use of hybrid concentrated solar power plants are on the rise. Hybrid concentrated solar plants may add a fossil fuel power plant to provide peak load power requirements. Several companies are adopting this trend and combining concentrated solar power plant with natural gas or coal-fired power generation facilities.
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Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Concentrated Solar Power Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by technology (parabolic trough collector and solar tower)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Abengoa, ACCIONA, ACS Group, SENER group, and SolarReserve)
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