Parabolic Trough CSP Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Parabolic Trough CSP Market Analysis
The global parabolic trough concentrated solar power (CSP) market is expected to grow at a CAGR of more than 2% during the forecast period of 2020-2025. Factors such as increasing adoption of renewable and decreasing cost of parabolic trough CSP components are likely to drive the parabolic trough CSP market in the forecast period. However, other renewable energy sources such as wind and hydroelectricity are likely to have a negative impact on parabolic trough CSP market in the forecast period.
- Increasing installed capacity of solar photo-voltaic (PV) cells are expected to restrain the parabolic trough CSP market in the forecast period.
- Countries such as the United Kingdom, France and the United States are shifting towards renewable energy and have planned to reduce emission of greenhouse gases by 2030. This is likely to create opportunity for parabolic trough CSP market in the future.
- Europe has dominated the market in the past, but Asia-Pacific is going to be the fastest-growing market in the forecast period, and significant demand is likely to be from Asia-pacific.
Parabolic Trough CSP Market Trends
This section covers the major market trends shaping the Parabolic Trough CSP Market according to our research experts:
Increasing Deployment of Solar PV to Restrain the Market
- Solar Photovoltaic (PV) that has a life of approximately 50 years are expected to restrain the parabolic trough CSP market, which only has a life span of 25 to 30 years. This factor of more life span coupled with low cost of photovoltaic cells is expected to have a negative impact on parabolic trough CSP market.
- In 2010, the installed capacity of solar PV was 40275 megawatt (MW), which in 2018 became 480619 megawatt (MW).
- Since solar PV are much cheaper, easy to build and take less time to build in comparison to parabolic trough CSP that are expensive, made of different components which take more time to put together.
- Also parabolic trough CSP require more space for large scale applications and require high initial investment. On the other hand solar PV can also be installed on rooftops for day to day requirement and have low initial investment. Due to these reasons more and more people are investing in solar PV which are becoming restrains for parabolic trough CSP market.
- Pavagada Solar Park in Karnataka is the world's largest solar photovoltaic power station, which can generate the energy of 2050 megawatts (MW). It was started in 2015 and was completed in 2019. This much power generation from photovoltaic technology is going to restrain the parabolic trough CSP market in the forecast period.
- Tengger Desert Solar Park in China is the world's second-largest solar photovoltaic power station, which generates 1547 megawatt (MW) of energy. It was completed in 2015.
- Therefore, from the above points, photovoltaic cells are going to restrain the parabolic trough CSP market in the forecast period.
Asia-Pacific to Witness a Significant Growth
- Although Europe has the largest parabolic trough CSP installation, the region remained quite inactive in terms of new CSP projects after 2015, while Asia-Pacific is the fastest-growing region in parabolic trough CSP and 2018 have 23 operational, under construction and under development projects. Out of these 23 projects, 12 were based on parabolic Trough CSP.
- China in 2018 has six parabolic trough CSP projects which were either operational, under construction or under development. India also had six parabolic trough CSP projects which were either operational, under construction or under development.
- In 2018, China installed parabolic trough CSP of 50-megawatt (MW) capacity. In 2019, the country announced to install further 100-megawatt (MW) capacity of parabolic trough CSP.
- In 2018, the second phase of Shouhang Dunhuang's 100 MW molten salt parabolic trough CSP project was commissioned. The second phase of the project owns the title of the world's largest stand-alone solar field, with over 10,000 heliostats.
- Hence, the above points indicate that Asia-Pacific is the fastest growing market for the parabolic trough CSP and is likely to create many opportunities during the forecast period.
Parabolic Trough CSP Industry Overview
The parabolic trough CSP market is moderately consolidated. Some of the key players in the market include Acciona SA, Aalborg CSP, Abengoa SA, GlassPoint Solar, Inc, and Rackam.
Parabolic Trough CSP Market Leaders
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Acciona SA
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Aalborg CSP
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Abengoa SA
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GlassPoint Solar, Inc.
*Disclaimer: Major Players sorted in no particular order
Parabolic Trough CSP Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 Porter's Five Force Analysis
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4.7.1 Bargaining Power of Suppliers
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4.7.2 Bargaining Power of Consumers
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4.7.3 Threat of New Entrants
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4.7.4 Threat of Substitutes Products and Services
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4.7.5 Intensity of Competitive Rivalry
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5. MARKET SEGEMENTATION
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5.1 Geography
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5.1.1 North America
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5.1.2 Europe
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5.1.3 Asia-Pacific
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5.1.4 Rest of the World
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
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6.2 Strategies Adopted by Key Players
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6.3 Key Companies Profile
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6.3.1 Acciona SA
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6.3.2 Sener Ingenieria y Sistemas SA
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6.3.3 Spain's TSK Electronica y Electricidad
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6.3.4 Sopogy, Inc.
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6.3.5 Aalborg CSP
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6.3.6 Abengoa SA
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6.3.7 GlassPoint Solar, Inc.
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6.3.8 Rackam
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7. MARKET OPPORTUNITIES and FUTURE TRENDS
Parabolic Trough CSP Industry Segmentation
The parabolic trough CSP market report include:
Parabolic Trough CSP Market Research FAQs
What is the current Parabolic Trough CSP Market size?
The Parabolic Trough CSP Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Parabolic Trough CSP Market?
Acciona SA, Aalborg CSP, Abengoa SA and GlassPoint Solar, Inc. are the major companies operating in the Parabolic Trough CSP Market.
Which is the fastest growing region in Parabolic Trough CSP Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Parabolic Trough CSP Market?
In 2024, the Europe accounts for the largest market share in Parabolic Trough CSP Market.
What years does this Parabolic Trough CSP Market cover?
The report covers the Parabolic Trough CSP Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Parabolic Trough CSP Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Parabolic Trough CSP Industry Report
Statistics for the 2024 Parabolic Trough CSP market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Parabolic Trough CSP analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
