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Europe Concentrated Solar Power Market Size (2024 - 2029)

The Europe concentrated solar power market is anticipated to experience significant growth, driven by factors such as the decreasing cost of components and the increased adoption of renewable energy sources aimed at reducing emissions. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and affected electrical demand, the market is set to expand, with the molten salt technology segment expected to lead. The integration of concentrated solar power in hybrid power plants and advancements in technology are projected to offer new opportunities, particularly in Spain, where rapid growth is anticipated due to numerous planned projects. However, the market's expansion may be constrained by the high capital investments required.

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Market Size of Europe Concentrated Solar Power

Europe Concentrated Solar Power Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 7.50 %
Market Concentration Low

Major Players

Europe Concentrated Solar Power Market Key Players

*Disclaimer: Major Players sorted in no particular order

Europe Concentrated Solar Power Market Analysis

Europe concentrated solar power market is expected to rise at a CAGR of 7.5% during the forecast period of 2022-2027. Like many other industries, Concentrated solar market has been dramatically hit by COVID 19 pandemic. Covid 19 has disrupted the supply chain industry and caused difficulty in sourcing equipment for the active projects and shutdown of commercial and industrial facilities, causing electrical demand to drop, affecting the operation of existing infrastructure. Factors such as the declining cost of CSP components and increased adoption of renewable energy sources to limit emissions are likely to drive the Concentrated solar power market during the forecast period. However, high capital investments are expected to restrain the concentrated solar power market.

  • The molten salt technology segment is expected to dominate the concentrated solar power market during the forecast period.
  • 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 solar power market in the future.
  • Spain is the fastest growth country in the concentrated solar power market during the forecast period owing to a number of new projects being planned in the country.

Europe Concentrated Solar Power Industry Segmentation

The Europe Concentrated Solar Power market report includes:

Technology
Power Tower
Dish/Stirling
Parabolic Trough
Linear Fresnel
Heat Transfer Fluid
Molten Salt
Water-Based
Oil-Based
Other Heat Transfer Fluids
Countries
Germany
Spain
France
Rest of Europe
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Europe Concentrated Solar Power Size Summary

The Europe concentrated solar power (CSP) market is poised for growth, driven by factors such as the declining cost of CSP components and the increasing adoption of renewable energy sources to mitigate emissions. Despite the challenges posed by the COVID-19 pandemic, which disrupted supply chains and reduced electrical demand, the market is expected to expand, with high capital investments being a potential constraint. The molten salt technology segment is anticipated to dominate the market due to its ability to enhance power efficiency and reduce electricity costs. This technology's integration into hybrid power plants is expected to create opportunities for the CSP market, positively impacting environmental and climate change efforts.

Spain stands out as a key player in the European CSP market, benefiting from abundant sunshine and supportive government policies. The country leads globally in CSP capacity, with significant projects underway to expand renewable energy coverage. The Spanish government's plans to increase CSP capacity further underscore the country's commitment to renewable energy. The market is characterized by a few consolidated players, including Abengoa SA, Acciona SA, and Engie SA, who are actively involved in advancing CSP technologies. Overall, the European CSP market is set for significant growth, with Spain at the forefront, supported by technological advancements and strategic government initiatives.

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Europe Concentrated Solar Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology

      1. 2.1.1 Power Tower

      2. 2.1.2 Dish/Stirling

      3. 2.1.3 Parabolic Trough

      4. 2.1.4 Linear Fresnel

    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 Countries

      1. 2.3.1 Germany

      2. 2.3.2 Spain

      3. 2.3.3 France

      4. 2.3.4 Rest of Europe

Europe Concentrated Solar Power Market Size FAQs

The Europe Concentrated Solar Power Market is projected to register a CAGR of greater than 7.5% during the forecast period (2024-2029)

Abengoa SA, Engie SA, Torresol Energy, Suncnim and Masdar are the major companies operating in the Europe Concentrated Solar Power Market.

Europe Concentrated Solar Power Report Snapshots

Europe Concentrated Solar Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)