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Aug. 12, 2020, 1:23 p.m. EDT

Global Concentrated Solar Power (CSP) Market Provides In-Depth Analysis Of The Industry, With Current Trends And Future Estimations To Elucidate The Investment Pockets.

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Aug 12, 2020 (Market Insight Reports) -- Rising concerns over energy conservation and transition from nonrenewable energy to renewable energy are expected to surge demand for solar energy over the forecast period on a global level. The increasing demand for green energy, the subsidies provided by various governments to fulfill their ambitious green energy targets and reduce carbon footprints have acted as market drivers for the global market. The solar industry has been seen as a significant opportunity by the investor, and therefore, investments in the solar energy have increased over the years.

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Key Takeaways of the Concentrated Solar Power (CSP) Market Study

  1. Asia Pacific is anticipated to lead the concentrating solar power market over the forecast period as owing to the increase in installations of CSP plants.

  2. China is projected to grow due to the increasing investment in CSP for stabilizing power grid.

  3. Based on type, the concentrated solar power (CSP) market has been divided into the parabolic trough, linear Fresnel reflector, solar power tower, and dish Stirling. These types are differentiated based on the placing of the panels.

  4. A parabolic trough is a system that has a parabolic ally curved reflector that concentrates the sunlight on the receiver pipe, which is a meter above the surface.

  5. Based on end-user, the market has been segmented into residential, commercial, and industrial. Among these, the use of CSP is more in the industrial segment, as several industries, such as utilities and mining, among others, are making use of it.

Notable Development Trends to Open up New Horizons of Growth for Concentrated Solar Power (CSP) Market

The leading companies in the market focus on product development, acquisition, and various other strategies to enhance the market share in the global market over the forecast period.

  1. In May 2020, Abengoa formed a consortium with Acciona to build the Cerro Dominador solar thermal plant owned by EIG Global Energy Partners. The consortium has led the melting process of 46,000 tons of salts from the Chilean Atacama Desert having a capacity of 110 MW.

  2. In December 2019, Bright Source Energy developed a solar-cured coating for DEWA Tower CSP. The coating was designed to help reduce O&M costs and for longer service lifetime than the standard Pyro mark coating.

  3. In October 2018, ACWA Power expanded by developing a storage technology that enabled utility-scale renewable energy production in Africa. The integration of CSP with thermal storage helps to solve the issues of electricity as the region suffers from energy problems.

Major Points Covered in the Concentrated Solar Power (CSP) Market Report:

  1. Macroeconomic factors affecting the Concentrated Solar Power (CSP) market and its potential

  2. Concentrated Solar Power (CSP) Market dynamics, drivers, challenges, and trends

  3. Detailed value chain analysis of the Concentrated Solar Power (CSP) market

  4. The cost structure of the products and segments covered in the study

  5. Key product segments, regions and by major market participants analyzed in the study

  6. Analysis of demand and supply, such as top manufacturing and consuming region overall trade scenario with imports/exports details

  7. Analysis of the market structure, including a tier-wise categorization of key market participants

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