Global Parabolic Trough CSP Market - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 125 | Published By - Mordor Intelligence

Report Highlights

The Global Parabolic Trough CSP market is expected to grow at a CAGR of XX percent and reach USD XX Billion by 2022, growing from USD XX Billion in 2015.

The significance of Concentrated Solar Power (CSP) technology is growing today, in a world that is in dire need for clean energy generation sources. CSP technology has achieved a high level of commercial maturity in the market today, and is in a position that allows it to compete with other renewable power generation techniques like solar photovoltaic technology and wind. CSP technology taps the sun by concentrating solar energy onto a small area with the help of mirrors or lenses to produce heat, which can then be converted into electricity. The most proven and the most popular concentrated solar power technology in application today is the parabolic trough technology.

The world today has an ever growing need for power. Power generation capacity is on the rise worldwide, and power generation agencies are on the lookout for new, efficient and low cost technologies. As there is growing concern and opposition to many conventional power generation plants like coal, nuclear etc., there is great demand for clean energy technologies like parabolic trough CSP. Governments around the world are also supportive of such technologies. One of the main factors restraining the parabolic trough CSP technology is the high initial investment associated with it. Also, as solar energy is intermittent, parabolic trough CSP plants need to be coupled to thermal storage systems if they are to produce power at peak demand periods. Parabolic trough CSP technology also faces tough competition from traditional power generation technologies. Despite these challenges, parabolic trough CSP has great prospects for development in the coming decade.

The report segments the global concentrated solar power market based on regions into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. CSP technology has shown great progress in North America and Europe.

The market for parabolic trough CSP market is a fast growing one and holds lot of potential. Some of the active players in this field include Abengoa Solar, Acciona, Solar Millennium AG, Schott AG and Torresol Energy.

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