Concentrating Solar Power Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Technology (Solar Power Tower, Linear Fresnel, Parabolic Trough, Stirling Dish technology); Operation Type (Stand-alone Systems, With Storage); Capacity (50 MW, 50 MW-99 MW, 100 MW+); End-User Type (Utilities, EOR, Others); Region and Country

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169

Table:

57

Figure:

93

Report ID:

UMEP21374

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Report Description
Table of content
Research Methodology

Report Description

Concentrating Solar Power Market
Concentrating Solar Power Market

Global Concentrating Solar Power Market was valued at US$ xx billion in 2020 and is anticipated to reach US$ xx billion by 2027 displaying a CAGR of xx% over the forecast period (2021-2027). Concentrating solar power (CSP) relies on concentrating the sun’s rays through the use of mirrors to create high temperature heat to drive a steam turbine. In the majority of today’s systems, the sun’s energy is transferred to a fluid, which in turn is passed through heat exchangers to run a traditional electricity steam cycle, similar to the one used in conventional thermal power plants. CSP plants can also have thermal storage systems. Often, a two-tank molten salt storage system is used, but designs vary. Since steam turbines can only be operated economically above a certain minimum size, today’s solar thermal power plants have rated outputs in the range of 50 to 200 megawatts. The main difference to a conventional steam power plant is the solar field, which supplies the heat for the steam generator. As per IRENA, Cumulative CSP installed capacity grew just over five-fold, globally, between 2010 and 2020, reaching around 6.5 GW at the end of 2020. After modest activity in 2016 and 2017 – with annual additions hovering around 100 MW per year – the global market for CSP grew in 2018 and 2019.

The Global Concentrating Solar Power Market is experiencing significant growth due to increasing environmental concerns over carbon emission, policy support from government to adopt renewable technologies, and rise in energy demand along with their inherent thermal storage capacity are the key factors complementing the Concentrating Solar Powers market.

Abengoa, S.A., BrightSource Energy, Inc., Aalborg CSP, Siemens Energy, Acciona, S.A. etc. are some of the prominent players operating in the Global Concentrating Solar Power Market. Several M&As along with partnerships have been undertaken by these players to facilitate countries with more innovative Concentrating Solar Power applications.

Insights Presented in the Report

“Amongst technology, Solar Power Tower segment holds the major share.”

Based on technology, the market is segmented into Solar Power Tower, Linear Fresnel, Parabolic Trough and Stirling Dish technology. The Solar Power Tower segment grabbed XX% market share of the Global Concentrating Solar Power Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to their strong concentration of radiation which can generate temperatures in excess of 1000 °C at the receiver.

“Amongst Operation type, With Storage segment dominated the market in 2020.”

Based on operation type, the market is segmented into Stand-alone Systems, & With Storage. In 2020, the With Storage segment dominated the Concentrating Solar Power Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of its Lower Levelized Cost of Electricity (LCOE), higher Capacity Utilization Factor (CUF), and high overall plant efficiency.

“Amongst Capacity, 100 MW and above segment dominated the market in 2020.”

Based on capacity, the market is segmented into Less than 50 MW, 50 MW to 99 MW & 100 MW and above. In 2020, the 100 MW and above segment dominated the Concentrating Solar Power Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of high & reliable power requirements & to maintain efficiency in the plant operation.

“Amongst End User type, Utilities segment dominated the market in 2020.”

Based on End user type, the market is classified into Utilities, EOR, and Others (Others include process heating, mining industry operations, desalination, and district heating). The Utilities segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to the favorable government initiatives and regulations on increasing the adoption of renewable energy sources.

“Asia Pacific represents as the largest market in the Global Concentrating Solar Power Market.”

For a better understanding of the market adoption of Concentrating Solar Power, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of upsurge in installations of concentrated solar power plants in the region.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional & country-level analysis of the industry

 

Customization Options:

The Global Concentrating Solar Power Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

1.1.Market Definitions
1.2.Objective of the Study
1.3.Limitation
1.4.Stake Holders
1.5.Currency Used in Report
1.6.Scope of the Global Concentrating Solar Power Market Study
2.1.Research Methodology for the Global Concentrating Solar Power Market
 2.1.1.Main Objective of the Global Concentrating Solar Power Market
5GLOBAL CONCENTRATING SOLAR POWER MARKET COVID-19
6GLOBAL CONCENTRATING SOLAR POWER MARKET REVENUE (USD BN), 2019-2027F
 7.1.Solar Power Tower
 7.2.Linear Fresnel
 7.3.Parabolic Trough
 7.4.Stirling Dish technology
8.1.Stand-alone Systems
8.2.With Storage
9.1.Less than 50 MW
9.2.50 MW to 99 MW
9.3.100 MW and above
10.1.Commercial Vessel
10.2.Offshore Support Vessel
10.3.Others

 

11.1.North America Concentrating Solar Power Market 
 11.1.1.
 11.1.2.
 11.1.3.
11.2.Europe Concentrating Solar Power Market 
 11.2.1.
 11.2.2.
 11.2.3.
 11.2.4.
 11.2.5.
 11.2.6.
11.3.Asia Pacific Concentrating Solar Power Market
 11.3.1.
 11.3.2.
 11.3.3.
 11.3.4.
 11.3.5.
11.4.Rest of World Concentrating Solar Power Market 
12.1.Market Drivers
12.2.Market Challenges
12.3.Impact Analysis
13CONCENTRATING SOLAR POWER MARKET OPPORTUNITIES
14CONCENTRATING SOLAR POWER MARKET TRENDS
15LEGAL & REGULATORY FRAMEWORK
16.1.Demand Side Analysis
16.2.Supply Side Analysis
 16.2.1.Top Product Launches
 16.2.2.Top Business Partnerships
 16.2.3.Top Business Expansions, Investments and Divestitures
 16.2.4.Top Merger and Acquisitions
17VALUE CHAIN ANALYSIS
18.1.Porter’s Five Forces Analysis
 18.1.1.Bargaining power of Supplier
 18.1.2.Bargaining power of Buyer
 18.1.3.Industry Rivalry
 18.1.4.Availability of Substitute
 18.1.5.Threat of new Entrants
18.2.Competitive Landscape
 18.2.1.Company Shares, By Revenue
19.1.Abengoa, S.A.
19.2.BrightSource Energy, Inc.
19.3.Aalborg CSP
19.4.Siemens Energy
19.5.Acciona, S.A.
19.6.Enel Green Power S.p.A.
19.7.Chiyoda Corporation
19.8.INITEC Energía
19.9.ACWA Power
19.10.GE Renewable Energy
20DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Global Concentrating Solar Power were the three major steps undertaken to create and analyze the adoption of Concentrating Solar Power across various segments in North America, Europe, Asia Pacific, & Rest of the world. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Concentrating Solar Power sector. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Concentrating Solar Power through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Concentrating Solar Power Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are as technology, operation type, capacity, and end user. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Concentrating Solar Power in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Concentrating Solar Power. Further, we conducted factor analysis using dependent and independent variables like rise in carbon emissions and the need for renewable energies like Concentrating Solar Power. Historical trends and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.

 

 

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Concentrating Solar Power Market, and market shares of the segments. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Concentrating Solar Power across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Concentrating Solar Power Market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Global Concentrating Solar Power Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology, operation type, capacity, and end user verticals.

The main objective of the Concentrating Solar Power Market Study

The current & future market trends of Concentrating Solar Power were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determine the overall attractiveness of the market at a global & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Concentrating Solar Power in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of technology, operation type, capacity, and end user verticals
  • Defined analysis of the regulatory framework for the Global Concentrating Solar Power industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Concentrating Solar Power for the major regions & countries
  • Major regions studied in the report include North America, Europe, Asia Pacific, and Rest of World
  • Company profiles of the Concentrating Solar Power Market players and the growth strategies adopted by them to sustain in the fast-growing market

Deep dive regional & country level analysis of the industry