Concentrated solar power is a technology that can
harness the sun’s energy potential and provide reliable renewable energy.
Market Research Future (MRFR) has published a research report about the global
concentrating solar power market that predicts growth for this market at
between 2016 and 2022.
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.
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Industry Segmentation
The global concentrating solar power market has been
segmented on the basis of application, product, and lastly, region.
The application-based segmentation segments this
market into commercial application, industrial application, residential
application. Commercial areas are places where businesses and retail stores are
located. Industrial areas are areas where factories and manufacturing units are
located. Residential areas are areas where residential premises are located.
Based on product, the market has been segmented dish
sterling, linear Fresnel, parabolic trough, and solar tower.
Key Players
The key players in the global concentrating solar
power market include Abengoa Solar S.A. (Spain), Acciona S.A. (Spain), Areva
Solar (USA), BrightSource Energy Inc. (USA), eSolar Inc. (USA), SkyFuel Inc.
(USA), SolarReserve LLC (USA), Solar Millennium AG (Germany), Schott Solar AG
(Germany), and TSK Flagsol (Germany).
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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.
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