The global concentrated solar power market is progressing at a reportedly significant rate. According to a research report released by Transparency Market Research, the global concentrated solar power market is growing rapidly to reach US$8.67 bn by 2020, after being recorded around US$2.51 bn at the end of 2013. The report, titled “Concentrated Solar Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, is available for sale on TMR’s website.
Browse the full Concentrated Solar Power Market for product segment (Parabolic Trough, Tower, Fresnel and Dish Sterling) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2020 report at http://www.transparencymarketresearch.com/concentrated-solar-power-market.html
The report estimates that the global concentrated solar power market is expected to progress at a CAGR of 19.4% between 2014 and 2020 in terms of value. The global concentrated solar power market is expected to exhibit a 20.3% CAGR for the same forecast period in terms of volume.According to the report, the global concentrated solar power market is primarily driven by the inherent advantages that it offers. This includes durability, capability of cutting down on greenhouse gas emissions, and most importantly, cost-effectiveness.
Another driver of the global concentrated solar power market is the increasing concern of multiple nations about the rising global temperatures and the depleting reserves of conventional energy reserves. It is stated in the report that technologies related to concentrated solar power are being used in greater numbers around the world, thus propelling the global CSP market.Europe was revealed as the dominant region in the global concentrated solar power market for 2013. Europe held nearly 43% of the market in 2013. However, the economic downturn in the region has had a negative impact on the global concentrated solar power market, as it did on most other modern markets.
The report also shows how Europe will continue to lead the global concentrated solar power market in terms of usage, number of installations, and new projects. The forecast period will also witness a rapid growth rate for the concentrated solar power market in Asia Pacific and North America, due to growing concerns over the use of scarce conventional resources.It is also stated in the report that the four key technologies in the global concentrated solar power market are dish Stirling, Fresnel, tower, and parabolic trough. Of these, parabolic trough technology has matured the most and is the most widely used in commercial power plants. The report estimates that this segment may also witness the fastest growth rate in the global concentrated solar power market over the given forecast period.
Fresnel and tower are the two segments that follow parabolic troughs in terms of usage. A significant number of commercial and industrial power plants are in the midst of adopting dish Stirling technology as a means of initiation of demos and pilot projects for future benefits.The key players in the global concentrated solar power market as described in the report are BrightSource Energy, Inc., NextEra Energy Resources, LLC, GDF SUEZ, Ibereolica Group, and Abengoa Solar S.A.Major players in the global concentrated solar power market have benefitted significantly in the recent past due to the increasing pressure to use renewable energy sources.
Key segments of the Global Concentrated Solar Power Market
Global Concentrated Solar Power Market: Product Segment
- Parabolic Trough
- Solar Tower
- Linear Fresnel
- Dish Stirling
Global Concentrated Solar Power Market: Regional Segment
- North America
- Asia Pacific
- Rest of the World (RoW)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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