Global Concentrated Solar Power Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global concentrated solar power market in its upcoming report titled, “Global Concentrated Solar Power Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global concentrated solar power market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global concentrated solar power market report has been segmented on the basis of technology, application, and region.

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Concentrating solar power generates electricity by converting the energy from the sun using mirrors that create steam to rotate turbine that generates electric power. The power is generated in two different parts, one that collects solar energy and converts it to heat and other that converts heat energy to electricity.

Growing awareness regarding the use of renewable resources for power generation is expected to boost the demand for solar power which in turn is expected to drive the growth of concentrated solar power market. Depleting levels of crude oil and stringent government regulations to reduce the greenhouse gas emissions is expected to boost the demand growth of the market over the forecast period. Government initiatives to promote renewable energy resources for power generation is expected to have a positive impact on the market growth.

Parabolic trough technology is estimated to be the largest technology segment in the global concentrated solar power market. Ease in installations and high-efficiency ability are the major factors driving the market growth. Parabolic trough technology is a low-cost technology compared to other thermal technologies. However, large adoption of alternative technology is expected to lower the market share of parabolic technology over the forecast period.

Power tower technology is expected to major technology segment in the global market. Low cost of equipment used in the technology along with enhanced designs are the major factors driving the market growth.

Europe is expected to account major share in the market and is estimated to maintain its dominance over the forecast period. Spain dominates the concentrated solar power market in the region. Government initiatives for clean energy generation over fossil fuels are expected to have a positive impact on the market growth in the region. Large-scale investments by the manufacturers in the research and development of the technology is expected to drive the market growth in the region over the forecast period. Asia Pacific is expected to witness rapid growth rate over the forecast period owing to the growing demand for power generation due to rapid industrialization and urbanization.

Market segmentation and key players operating in the global photovoltaic material market:

By technology:

• Parabolic Trough Technology
• Linear Fresnel Technology
• Dish Technology
• Power Tower Technology

By application:

• Utility
• Enhanced Oil Recovery
• Others

By region:

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