With the emergence and long-term Impact of COVID-19, Global Concentrating Solar Power Market to reach USD 26.80 Billion by 2029
Bizwit Research & Consulting LLP’s Recent Analysis on Global Concentrating Solar Power Market is poised to raise up to USD 26.80 Billion by 2029. These systems include thermal energy storage capabilities that enable them to produce power even when there is no sunlight or when it is cloudy. For this technology, a number of contemporary devices, including parabolic troughs, Fresnel reflectors, and power towers, are available. The Concentrating Solar Power market is on the surging trend owing to the increase in government support for the adoption of renewable technologies coupled with the rise in energy demand and capability to supply power without Co2 emission. The best one can be used based on the circumstances. The Concentrating Solar Power market is expanding because of factors such as growing environmental concerns over carbon emissions and efforts to reduce air pollution, support from governments to enable adoption of renewable technologies, effective integration of CSP systems with thermal storage systems. However, higher cost of generation compared with other renewable technologies may halt market growth.
Geographically, the Global Concentrating Solar Power market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the space in terms of revenue, owing to growing demand for continuous generation of electricity and increasing support from governments to adopt renewable technologies. Moreover, North America is projected to grow at a fastest rate owing to factors such as rising adoption of renewable technologies in the region.
The global Concentrating Solar Power market is highly competitive owing to the presence of several key manufacturers such as General Electronics, Abengoa, BrightSource energy, Acwa power, Glasspoint solar, Enel green power, Solarreserve, Aalborg csp, TSK Flagsol engineering gmbh, Alsolen, and others.
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Key findings of the study suggest:
- Global Concentrating Solar Power Market is anticipated to grow with a healthy growth rate of more than 27% over the forecast period 2022-2029.
- In the Technology segment, Solar Powers Towers emerged out as the leading market segment in 2021.
- In the Operation Type segment, Storage emerged out as the leading market segment in 2021.
- In the Capacity segment, 50 MW to 99 MW emerged out as the leading market segment in 2021.
- In the End User segment, Utilities emerged out as the leading market segment in 2021.
- Asia Pacific is anticipated to drive regional growth owing to growing demand for continuous generation of electricity and increasing support from governments.
- North America is expected to grow at higher rate followed by Asia Pacific during 2022-2029.
Bizwit Research & Consulting has considered following segments for the study:
Technology:
- Solar Powers Towers
- Linear Concentrating Systems
- Dish Stirling Technology
Operation Type:
- Stand -Alone
- Storage
Capacity:
- Less than 50 MW
- 50 MW to 99 MW
- 100 MW and Above
End User:
- Utilities
- Enhanced Oil Recovery
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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