Concentrating Solar Power Market by Technology (Parabolic Trough, Solar Power Tower, Fresnel Reflectors, and Dish Stirling) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

"Market Definition:
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 400°C and 1,000°C 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.
Market Dynamics and Trends
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.
Market Segmentations and Scope of the Study:
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).
Geographical Analysis
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.

Competitive Landscape

Key players in the global concentrating solar power market include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frenell GMBH, and Siemens.
KEY MARKET SEGMENTS:
• Global Concentrating Solar Power Market – By Technology
o Parabolic Trough
o Solar Power Tower
o Fresnel Reflectors
o Dish Stirling
• Global Concentrating Solar Power Market – By Geography
o North America
 U.S.
 Canada
o Europe
 Germany
 Spain
 Italy
 Rest of Europe
o Asia-Pacific
 China
 India
 Thailand
 Australia
 Rest of Asia-Pacific
o RoW
 South Africa
 Morocco
 UAE
 Egypt
 Remaining Countries
KEY PLAYERS:
• Abengoa
• Acciona
• SolarReserve
• BrightSource Energy
• ACWA Power
• GE Energy
• Suntrace
• SCHOTT
• Frenell GMBH
• Siemens"