Global Concentrated Solar Power (CSP) Market Research Report - Forecast to 2025

Published - Nov 2018 | Category - Energy and Power | No. of Pages - 104 | Published By - Market Research Future

The global concentrated solar power (CSP) is expected to grow at 15.35% CAGR during the forecast period. In 2016, the market was led by Europe, with a 49.82% share, followed by Americas with market share of 37.95%.

The market by type has been segmented as Parabolic Troughs, Power Towers, Linear Fresnel Reflectors, and Parabolic Dishes. Parabolic Troughs system segment dominates the global concentrated solar power (CSP) market with a share of 67.19% in 2016, with a market value of USD 8,605.6 million. It is expected to grow at a CAGR of 15.43% during the forecast period.

By application, the concentrated solar power (CSP) market has been segmented as utilities, industrial and others. Utilities accounted for the largest market share of 65.38% in 2016, with a market value of USD 8,373.7 million and is projected to grow at the highest CAGR of 15.45% during the forecast period. Rapid growth is expected in this sector due to rising information about utilization of renewable energy and reducing carbon footprint. Also, the reduction in costs depends on by technological advancement, economies of scale in manufacturing and innovation in financing. They have fetched CSP within reach of grid uniformity in a growing number of markets.


 

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