Global Concentrating Solar Power Market
Synopsis
The growth of the global concentrating solar power
market is impressive in the latest years, as Market Research Future claims that
the market can cultivate at 11.46% CAGR from 2019 to 2025. The study has also
included grossing factors, segmental analysis, and regional analysis, which
could portray the market’s evolution during its growth period.
The prominent factors driving the global
concentrating solar power market growth include growing awareness about
eco-friendly power, need for renewable sources of energy, cost-effective
energy, and low maintenance costs. However, the high cost of initial
installation can limit market growth.
The notable factors driving
the progression of the global concentrating solar power market include rising
environmental concerns over carbon emissions and government initiatives to
enable renewable technologies. The study comprises that according to EIA, solar
surpasses biomass to become the third most prevalent renewable electricity
source, which has led to augmented investment in major countries such as India,
China, the US, Italy, and others globally to install solar panels to generate
electricity.
Segmental
Overview
The segmental analysis of
the global concentrating solar power market has been conducted on the elements
of technology, components, and end-user.
In terms of technology:
Parabolic trough, power tower, linear Fresnel, and dish/engine system. Among
these, the parabolic trough segment is likely to lead the market during the
assessment period. Due to this, the segment has its main application in end-use
industries such as enhanced oil recovery, utilities, and mining, and many more.
In terms of components:
Solar field, power block, and thermal storage are the segments. Among these,
the thermal storage segment leads the market due to the capability to store
thermal energy on a large scale, which enables power generation.
In terms of end-user:
Utilities, EOR, and others are the segments. Among these, the utility segment
is likely to record a sophisticated growth rate during the assessment period.
Key Players
The significant players operating in the global concentrating
solar power market are listed as BrightSource Energy (US), Chiyoda Corporation
(Japan), Acciona Energy (Spain), Alsolen
(Morocco), GE Renewable Energy (France), TSK Flagsol Engineering GmbH
(Germany), ACWA Power (Saudi Arabia), SA (Spain), Abengoa Solar, Atlantica
Yield PLC (UK), eSolar Inc. (US), SolarReserve (US), Enel Green Power (Italy),
and Soligua (Italy).
Browse Full Report at: https://www.marketresearchfuture.com/reports/concentrating-solar-power-market-2104
Regional Outlook
The regional segmentation of
the global concentrating solar power market segments the market into the
regional markets known as North America, Asia Pacific, Europe, and rest of the
world (RoW).
Europe is a priority
regional market due to new projects, government initiatives towards grid-scale
renewable power generation, and a number of installation security of supply
with an objective to reduce greenhouse gas emission. Many important market
players are also based in Europe. Vital country-specific markets in this region
are France, Germany, and the UK, followed by the remaining countries of Europe.
In North America, the market
is significant due to established industries, government initiatives favoring
eco-friendly methods of power generation, and the presence of many key market
players in North America. In this region, the crucial country-specific markets
are the USA and Canada.
During the forecast period,
the Asia Pacific regional market is expected to grow at high speed due to major
installations taking place in countries such as China and India.
The RoW segment lists the
countries of the Middle East & Africa (MEA). In the MEA region, the market
is limited due to poor countries, lack of awareness, lack of technological
advancement, and lack of education.
About Market Research Future:
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