New Revenue Pockets:

The global concentrating solar power market size is estimated to be USD 6.0 Billion in 2022 and is projected to reach USD 19.9 Billion by 2027; it is projected to grow at a CAGR of 26.9% during the forecast period. The key drivers for the concentrating solar power market include environmental concerns over carbon emissions and efforts to reduce air pollution, and integration of CSP in hybrid power plants.

Key Market Players:

The major players in the CSP market are Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), SolarReserve (US), and Aalborg CSP (Denmark).

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The solar power towers segment, by technology is expected to be the fastest growing segment during the forecast period. This technology uses a ground-based field of mirrors to concentrate sun rays onto a central receiver system placed on the top of a tower erected in the middle of a field. The field has a large number of mirrors, called heliostats, that are controlled by a computer. These mirrors help reflect sunlight onto the central receiver where a fluid is being heated. Solar towers have the potential to achieve higher temperatures than linear concentrator systems, which include parabolic troughs and linear Fresnel systems. This feature is driving the market for solar power towers.

This research report categorizes the concentrating solar power market by technology, operation type, capacity, end user, and region

On the basis of by technology:

• Solar Power Towers
• Linear Concentrating Systems
• Dish Stirling Technology

On the basis of operation type:

• Stand-alone
• Storage

On the basis of capacity:

• Less than 50 MW
• 50 MW to 100 MW
• 100 MW and Above

On the basis of end user:

• Utilities
• Enhanced Oil Recovery (EOR)
• Others

On the basis of region:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

The 50 MW to 99 MW segment, by capacity is expected to be the second fastest growing segment during the forecast period. Linear concentrating systems with parabolic troughs and linear Fresnel technology are mainly used for this capacity segment. Systems with this capacity range are mainly adopted in the utilities segment and use thermal energy storage for their operations. According to IRENA, in Spain, several 50 MW CSP units are planned, based on an estimated LCOE of approximately USD 0.30 to USD 0.35/kWh.

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The utilities segment, by end user is expected to be the largest and fastest growing segment during the forecast period. Utilities supply electricity from CSP plants to individual houses and apartments, commercial buildings, and industries. The demand for concentrating solar power from the utility sector is driven by the need to generate renewable electricity with storage technology to cater to the increasing power needs of the residential sector.