A Deep Dive into the Global Concentrated Solar Power (CSP) Market

Global concentrated solar power (CSP) market is anticipated to grow at a significant CAGR of 9.5% during the forecast period (2024-2031). The CSP market is driven by supportive government policies and incentives, improvements in technologies that enhance the efficiency factor and storage capabilities of sources and their integration with other CSP sources, diversification of CSP application in the industrial field, demands for clean energy, and decrease in the cost of the CPS elements allowing for significant development in the areas of high irradiation density.

Browse the full report description of “Concentrated Solar Power Market Size, Share & Trends Analysis Report By Technology (Dish Stirling, Solar Power Tower, Parabolic Trough, and Concentrating Linear Fresnel Reflector), by Component (Solar Field, Thermal Energy Storage, and Power Generation System) and by Application (Utility, Industrial And Other (Solar Enhanced Oil Recovery (EOR)) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/concentrated-solar-power-market

Recent Developments

• In February 2024, ACWA Power and Larsen and Toubro Limited chose Nextracker to supply the NX Horizon-XTR™ ground tracker for a 1.17 GW solar energy installation in Al Kahfah, Saudi Arabia, as part of the National Renewable Energy Program.

• In August 2023, Siemens aims to begin manufacturing photovoltaic (PV) inverters in Kenosha, Wis., after Biden’s visit. Specifically, the plant has been developed by Sanmina, which will allow meeting the demand for local production of solar products and provide customers with tax benefits and home content incentives. 

• In July 2023 BrightSource Energy Inc., a provider of concentrated solar thermal power, a new group formed by Israeli, the UK, and South African subsidiaries is to be called New BrightSource Energy Ltd.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Technology

o By Component

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- ACWA Power International, Alfa Laval AB, General Electric Co., MAN Energy Solutions SE, Siemens AG among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Concentrated Solar Power Market Report Segment

By Technology

• Dish Stirling
• Enclosed Trough
• Solar Power Tower
• Concentrating Linear Fresnel Reflector

By Component

• Solar Field
• Tower/Concentrator Structure
• Mirrors or Reflectors
• Linear Receiver or Heat Collection Element (HCE)
• Pump And Heat Transfer Fluid
• Collector Balance of System
• Thermal Energy Storage
• Power Generation System

By Application

• Utilities
• Industrial
• Other (Solar Enhanced Oil Recovery ((EOR))

Global Concentrated Solar Power Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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