According to IMARC Group’s latest report, titled “: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market exhibited strong growth during 2015-2020. Also known as solar thermal power, concentrated solar power (CSP) generates electricity using sunlight. It assists in the production of electricity during cloudy days or in the absence of the sun. Presently, CSP finds extensive applications in electrification programs across the globe.
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Due to the increasing need for reducing carbon emissions, renewable sources are widely being utilized in power generation around the world. This represents one of the key factors strengthening the market growth. Apart from this, governing agencies of numerous countries are investing in the installation of solar panels for generating electricity. They are also offering tax credits and installation cost subsidies for promoting renewable technologies. This is creating a favorable market outlook worldwide. Furthermore, leading players are focusing on introducing advancements to improve the heat transfer and thermal storage ability of storage salts. This, in confluence with the rising adoption of efficient heat and thermal storage products, is anticipated to drive the market. Looking forward, IMARC Group expects the concentrated solar power market to grow at a CAGR of 11.3% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Aalborg CSP A/S
- ACWA Power
- BrightSource Energy, Inc.
- Chiyoda Corporation
- Enel Spa
- INITEC Energía
- Siemens Energy (Siemens AG)
- Soltigua S.r.l.
Breakup by Technology:
- Parabolic Trough
- Linear Fresnel
- Power Tower
Breakup by Application:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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