Who are the key players in Concentrated Solar Power Market?

ACWA Power, Engie SA, Acciona SA, Brightsource Energy Inc. and Aalborg CSP are the major companies operating in the Concentrated Solar Power Market. Read More

Which is the fastest growing region in Concentrated Solar Power Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Concentrated Solar Power Market?

In 2024, the Europe accounts for the largest market share in Concentrated Solar Power Market. Read More

What years does this Concentrated Solar Power Market cover, and what was the market size in 2023?

In 2023, the Concentrated Solar Power Market size was estimated at 9.64 gigawatt. The report covers the Concentrated Solar Power Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Concentrated Solar Power Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Which is the leading segment in the concentrated solar power CSP Market?

The leading segment in the concentrated Solar Power CSP Market is molten salt. Read More

Concentrated Solar Power (CSP) Market Size

Market Size of Concentrated Solar Power (CSP) Industry

Concentrated Solar Power (CSP) Market Summary

Study Period	2019-2029
Market Volume (2024)	10.36 gigawatt
Market Volume (2029)	14.49 gigawatt
CAGR (2024 - 2029)	6.93 %
Fastest Growing Market	Asia-Pacific
Largest Market	Europe
Market Concentration	High
Major Players *Disclaimer: Major Players sorted in no particular order

Concentrated Solar Power (CSP) Market Analysis

The Concentrated Solar Power Market size is estimated at 10.36 gigawatt in 2024, and is expected to reach 14.49 gigawatt by 2029, growing at a CAGR of 6.93% during the forecast period (2024-2029).

Over the long term, the declining cost of concentrated solar power technologies is expected to drive the market.
On the other hand, the increasing adoption of solar photovoltaics and other renewable technologies is expected to hinder the market growth during the forecast period.
Nevertheless, technology improvements and integration of concentrated solar power in hybrid power plants. This will positively impact the environment, and climate change is expected to create several opportunities for Concentrating the solar power market in the future.
Europe is expected to dominate the market as the solar sector in the region is witnessing new projects at the outset of growing electricity demand and focusing on using renewable energy sources to curb pollution levels, therefore resulting in increasing demand for CSP during the forecast period.

Concentrated Solar Power (CSP) Industry Segmentation

Concentrated Solar Power (CSP) is the technology developed to generate electricity by transforming concentrated sunlight into solar thermal energy. Mirrors reflect solar radiation to a thermal receiver. The collected solar energy is then absorbed and used to heat the heat-transfer fluid (HFT). The heat retained in the fluid is accumulated, which powers a turbine to generate electrical energy.

The concentrated solar power market is segmented by technology, heat transfer fluid, and geography. By technology, the market is segmented into parabolic trough, linear fresnel, power tower, and dish/stirling. Heat transfer fluid: the market is segmented into molten salt, water-based, oil-based, and other heat transfer fluids. The report also covers the market size and forecasts for the concentrated solar power (CSP) market across major regions, such as Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

For each segment, the market sizing and forecasts have been done based on revenue (USD).

Technology
		Parabolic Trough
		Linear Fresnel
		Power Tower
		Dish/Stirling

Heat Transfer Fluid
		Molten Salt
		Water-based
		Oil-based
		Other Heat Transfer Fluids

Geography

North America
	United States
	Mexico
	Rest of North America

Europe
	Germany
	Italy
	France
	Spain
	Rest of Europe

Asia-Pacific
	China
	India
	South Korea
	Rest of Asia-Pacific

South America
	Brazil
	Chile
	Rest of South America

Middle-East and Africa
	United Arab Emirates
	Saudi Arabia
	South Africa
	Rest of Middle East and Africa

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Concentrated Solar Power (CSP) Market Size Summary

The concentrated solar power (CSP) market is poised for growth, driven by the declining costs of CSP technologies and advancements in hybrid power plant integrations. Despite the competitive pressure from solar photovoltaics and other renewable energy sources, CSP is expected to benefit from technological improvements and its role in mitigating climate change. Europe is anticipated to lead the market, fueled by increasing electricity demand and a strong focus on renewable energy to reduce pollution. The region's commitment to CSP is further supported by initiatives like MUSTEC and Solaris ERIC, which aim to enhance CSP project development and research. Additionally, government incentives in countries like Germany and Spain are expected to boost CSP installations, reinforcing Europe's dominant position in the market.

Parabolic trough collectors (PTCs) are among the most widely deployed CSP configurations globally, utilized in various applications such as industrial heating and power generation. Despite the complexity of their maintenance, PTCs are favored for their efficiency and versatility. Innovations, such as the low-cost PTC developed by the Indian Institute of Technology Madras, highlight the ongoing advancements in CSP technology. The market is moderately consolidated, with key players like ACWA Power and Engie SA driving growth. Recent developments, including funding for new CSP projects in Australia and tender invitations in India, indicate a robust pipeline of CSP initiatives, ensuring the market's expansion during the forecast period.

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Concentrated Solar Power (CSP) Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD billion, till 2028
3. 1.3 Installed CSP Capacity and Forecast in MW, till 2028
4. 1.4 Recent Trends and Developments
5. 1.5 Government Policies and Regulations
6. 1.6 Market Dynamics
  1. 1.6.1 Drivers
    1. 1.6.1.1 Declining Cost of Concentrated Solar Power Technologies
  2. 1.6.2 Restraints
    1. 1.6.2.1 Supportive Government Policies for Other Renewable Energy Sources
7. 1.7 Supply Chain Analysis
8. 1.8 Porter's Five Forces Analysis
  1. 1.8.1 Bargaining Power of Suppliers
  2. 1.8.2 Bargaining Power of Consumers
  3. 1.8.3 Threat of New Entrants
  4. 1.8.4 Threat of Substitutes Products and Services
  5. 1.8.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Technology
  1. 2.1.1 Parabolic Trough
  2. 2.1.2 Linear Fresnel
  3. 2.1.3 Power Tower
  4. 2.1.4 Dish/Stirling
2. 2.2 Heat Transfer Fluid
  1. 2.2.1 Molten Salt
  2. 2.2.2 Water-based
  3. 2.2.3 Oil-based
  4. 2.2.4 Other Heat Transfer Fluids
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Mexico
    3. 2.3.1.3 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 Italy
    3. 2.3.2.3 France
    4. 2.3.2.4 Spain
    5. 2.3.2.5 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 India
    3. 2.3.3.3 South Korea
    4. 2.3.3.4 Rest of Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Chile
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 United Arab Emirates
    2. 2.3.5.2 Saudi Arabia
    3. 2.3.5.3 South Africa
    4. 2.3.5.4 Rest of Middle East and Africa