Concentrating Solar Power Market: Current Analysis and Forecast (2021-2027)

Concentrating Solar Power Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Power
  • 169 pages

Report Description

A CSP plant normally consists of thermal collection, thermal storage, and thermal–work power conversion systems. CSP thermal–work conversion is partially similar to that of a conventional thermal generator unit. Existing mature techniques can be utilized, and thus CSP is especially suitable for large-scale applications. There are different types of mirror shapes and sun-tracking methods to provide useful energy, but all of them work under a same principle of driving a heat engine to generate electricity that can then be fed into the grid. Thus, concentrated solar power energy is a carbon-free source of electricity and is best suited to regions with strong radiation such as Southern Europe, Northern Africa and Middle East, South Africa, parts of India, China, Southern U.S., and Australia. However, some of the restraints in the market include high cost incurred during concentrated solar power energy production, technical complexities of CSP plant along with high cost of components which are some factors impeding the growth of this market all over the world.

Based on technology, the market is segmented into Solar Power Tower, Linear Fresnel, Parabolic Trough and Stirling Dish technology. The Solar Power Tower segment grabbed XX% market share of the Global Concentrating Solar Power Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to their strong concentration of radiation which can generate temperatures in excess of 1000 °C at the receiver.

Based on operation type, the market is segmented into Stand-alone Systems, & With Storage. In 2020, the With Storage segment dominated the Concentrating Solar Power Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of its Lower Levelized Cost Of Electricity (LCOE), higher Capacity Utilization Factor (CUF), and high overall plant efficiency.

Based on capacity, the market is segmented into Less than 50 MW, 50 MW to 99 MW & 100 MW and above. In 2020, the 100 MW and above segment dominated the Concentrating Solar Power Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of high & reliable power requirements & to maintain efficiency in the plant operation.

Based on End user type, the market is classified into Utilities, EOR, and Others (Others include process heating, mining industry operations, desalination and district heating). The Utilities segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to the favorable government initiatives and regulations on increasing the adoption of renewable energy sources.

For a better understanding of the market adoption of Concentrating Solar Power, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of upsurge in installations of concentrated solar power plants in the region.

Some of the major players operating in the market include Abengoa, S.A., BrightSource Energy, Inc., Aalborg CSP, Siemens Energy, Acciona, S.A. etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

Global Concentrating Solar Power Market was valued at US$ xx billion in 2020 and is anticipated to reach US$ xx billion by 2027 displaying a CAGR of xx% over the forecast period (2021-2027). Concentrating solar power (CSP) relies on concentrating the sun’s rays through the use of mirrors to create high temperature heat to drive a steam turbine. In the majority of today’s systems, the sun’s energy is transferred to a fluid, which in turn is passed through heat exchangers to run a traditional electricity steam cycle, similar to the one used in conventional thermal power plants. CSP plants can also have thermal storage systems. Often, a two-tank molten salt storage system is used, but designs vary. Since steam turbines can only be operated economically above a certain minimum size, today’s solar thermal power plants have rated outputs in the range of 50 to 200 megawatts.

The main difference to a conventional steam power plant is the solar field, which supplies the heat for the steam generator. As per IRENA, Cumulative CSP installed capacity grew just over five-fold, globally, between 2010 and 2020, reaching around 6.5 GW at the end of 2020. After modest activity in 2016 and 2017 – with annual additions hovering around 100 MW per year – the global market for CSP grew in 2018 and 2019.

The Global Concentrating Solar Power Market is experiencing significant growth due to increasing environmental concerns over carbon emission, policy support from government to adopt renewable technologies, and rise in energy demand along with their inherent thermal storage capacity are the key factors complementing the Concentrating Solar Powers market. 

Abengoa, S.A., BrightSource Energy, Inc., Aalborg CSP, Siemens Energy, Acciona, S.A. etc. are some of the prominent players operating in the Global Concentrating Solar Power Market. Several M&As along with partnerships have been undertaken by these players to facilitate countries with more innovative Concentrating Solar Power applications.

Insights Presented in the Report

“Amongst technology, Solar Power Tower segment holds the major share.”

Based on technology, the market is segmented into Solar Power Tower, Linear Fresnel, Parabolic Trough and Stirling Dish technology. The Solar Power Tower segment grabbed XX% market share of the Global Concentrating Solar Power Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to their strong concentration of radiation which can generate temperatures in excess of 1000 °C at the receiver. 

“Amongst Operation type, With Storage segment dominated the market in 2020.”

Based on operation type, the market is segmented into Stand-alone Systems, & With Storage. In 2020, the With Storage segment dominated the Concentrating Solar Power Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of its Lower Levelized Cost of Electricity (LCOE), higher Capacity Utilization Factor (CUF), and high overall plant efficiency.

“Amongst Capacity, 100 MW and above segment dominated the market in 2020.”

Based on capacity, the market is segmented into Less than 50 MW, 50 MW to 99 MW & 100 MW and above. In 2020, the 100 MW and above segment dominated the Concentrating Solar Power Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of high & reliable power requirements & to maintain efficiency in the plant operation.

“Amongst End User type, Utilities segment dominated the market in 2020.”

Based on End user type, the market is classified into Utilities, EOR, and Others (Others include process heating, mining industry operations, desalination, and district heating). The Utilities segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to the favorable government initiatives and regulations on increasing the adoption of renewable energy sources.

“Asia Pacific represents as the largest market in the Global Concentrating Solar Power Market.”

For a better understanding of the market adoption of Concentrating Solar Power, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of upsurge in installations of concentrated solar power plants in the region.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional & country-level analysis of the industry

Customization Options:

The Global Concentrating Solar Power Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • Abengoa
  • S.A.
  • BrightSource Energy Inc.
  • Aalborg CSP
  • Siemens Energy
  • Acciona S.A.

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 Table of Content

1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Objective of the Study
1.3. Limitation
1.4. Stake Holders
1.5. Currency Used in Report
1.6. Scope of the Global Concentrating Solar Power Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1.Research Methodology for the Global Concentrating Solar Power Market
2.1.1.Main Objective of the Global Concentrating Solar Power Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL CONCENTRATING SOLAR POWER MARKET COVID-19

6 GLOBAL CONCENTRATING SOLAR POWER MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TECHNOLOGY

7.1. Solar Power Tower
7.2. Linear Fresnel
7.3. Parabolic Trough
7.4. Stirling Dish technology

8 MARKET INSIGHTS BY OPERATION TYPE
8.1. Stand-alone Systems
8.2. With Storage

9 MARKET INSIGHTS BY CAPACITY
9.1. Less than 50 MW
9.2. 50 MW to 99 MW
9.3. 100 MW and above

10 MARKET INSIGHTS BY END USER
10.1. Utilities
10.2. EOR
10.3. Others (Others include process heating, mining industry operations, desalination and district heating)

11 MARKET INSIGHTS BY REGION
11.1. North America Concentrating Solar Power Market
11.1.1. United States
11.1.2. Canada
11.1.3. Rest of North America
11.2. Europe Concentrating Solar Power Market
11.2.1. Germany
11.2.2. France
11.2.3. United Kingdom
11.2.4. Italy
11.2.5. Spain
11.2.6. Rest of Europe
11.3. Asia Pacific Concentrating Solar Power Market
11.3.1. China
11.3.2. Japan
11.3.3. India
11.3.4. Australia
11.3.5. Rest of Asia Pacific
11.4. Rest of World Concentrating Solar Power Market

12 CONCENTRATING SOLAR POWER MARKET DYNAMICS
12.1. Market Drivers
12.2. Market Challenges
12.3. Impact Analysis

13 CONCENTRATING SOLAR POWER MARKET OPPORTUNITIES

14 CONCENTRATING SOLAR POWER MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1. Demand Side Analysis
16.2. Supply Side Analysis
16.2.1. Top Product Launches
16.2.2. Top Business Partnerships
16.2.3. Top Business Expansions, Investments and Divestitures
16.2.4. Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

18.1. Porter’s Five Forces Analysis
18.1.1. Bargaining power of Supplier
18.1.2. Bargaining power of Buyer
18.1.3. Industry Rivalry
18.1.4. Availability of Substitute
18.1.5. Threat of new Entrants
18.2. Competitive Landscape
18.2.1. Company Shares, By Revenue

19 COMPANY PROFILED
19.1. Abengoa, S.A.
19.2. BrightSource Energy, Inc.
19.3. Aalborg CSP
19.4. Siemens Energy
19.5. Acciona, S.A.
19.6. Enel Green Power S.p.A.
19.7. Chiyoda Corporation
19.8. INITEC Energía
19.9. ACWA Power
19.10. GE Renewable Energy

20 DISCLAIMER

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