Concentrated Solar Power (CSP) Market Scope
Concentrated Solar Power (CSP) plants concentrate the sun's energy using mirrors to power traditional steam turbines or engines that generate electricity. Thermal energy concentrated in a CSP plant can be stored and used to generate electricity at any time of day or night. In order to concentrate the sun's energy, it must not be too diffuse. The direct normal intensity (DNI) of the sun's energy is used to calculate this. CSP plants are also much easier to operate and maintain than nuclear or hydrocarbon-based plants. As a result, concentrating solar power has lower operating costs than these other sources.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Abengoa (Spain), BrightSource Energy, Inc. (United States), Siemens Energy (Germany), Acciona (Spain), Aalborg CSP (Germany), TSK Fl (United States), ACWA POWER (Saudi Arabia), INITEC Energía (Spain), Torresol Energy (Spain) and Enel Spa (Italy) |
CAGR | % |
Abengoa, Acciona Energia, S.A., BrightSource Energy, Inc., TORRESOL ENERGY INVESTMENTS, S.A., FRENELL GmbH, Siemens Energy, INITEC Energia, Eni S.p.A., SCHOTT North America, Inc., Pacific Green Technologies, and Aalborg CSP are notable key market participants in the global concentrated solar power market. Due to their strong brand recognition and wide range of product offerings, these businesses have a sizable market share. The major market participants for concentrated solar power have been discussed, along with their relative competitive positions and business plans. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Spain Manufacturers will contribute to the maximum growth of Global Concentrated Solar Power (CSP) market throughout the predicted period.
Abengoa (Spain), BrightSource Energy, Inc. (United States), Siemens Energy (Germany), Acciona (Spain), Aalborg CSP (Germany), TSK Fl (United States), ACWA POWER (Saudi Arabia), INITEC Energía (Spain), Torresol Energy (Spain) and Enel Spa (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Trivelli Energia srl (Italy), Grün leben GmbH (Germany) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Concentrated Solar Power (CSP) market by Type , by Application (Utility, EOR, Desalination and Others) and Region with country level break-up.
On the basis of geography, the market of Concentrated Solar Power (CSP) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 22nd December 2021, the Tribunal has conditionally approved the proposed large merger in which Atlantica Sustainable Infrastructure intends to acquire Abengoa South Africa's employees as well as the assets of solar company Kaxu CSP. The Tribunal says in a statement that the transaction is approved subject to broad-based black economic empowerment (B-BBEE) ownership conditions.
On 13 April 2022, Gautam Solar has introduced a new Gel Battery for both domestic and international markets. This satisfies the demand for Energy Storage solutions for Solar Power Plants, Telecom, and Rural Electrification. With recent reports of Lithium Batteries catching fire, there is a greater need for safer energy storage devices. Gautam Solar's Gel batteries are cost-effective, thermally stable, long-lasting, and maintenance-free, with no need for topping up. This launch is in line with their solar power plant product line, which includes indigenous bi-facial and mono-facial solar panels. The company anticipates that its Gel batteries will provide a strong and better alternative in the Energy Storage space, where Lithium Batteries and Tubular Lead Acid Batteries are currently used.
Technology advancements, combined with government regulations and incentives, have sparked a renewed interest in large-scale solar power production. Spain and the United States are the two countries at the forefront of concentrated solar power (CSP) development, with massive solar power plants under construction.
Influencing Trend:
Increasing Innovation and Integration of Lead-Acid Batteries in the Container Type ESS to Expand Applications
Market Growth Drivers:
Concerns about Carbon Emissions Are Growing, As Are Efforts to Reduce Air Pollution
Challenges:
CSP Plant Technical Complexities and Installation of Solar Storage Systems on Islands or In Remote Areas Is Complicated
Restraints:
Higher Generation Costs When Compared To Other Renewable Technologies and Installing Solar Power System Necessitates a Significant Capital Outlay
Opportunities:
CSP Integration in Hybrid Power Plants and Globally, the Number of Rural Electrification Projects Is Increasing
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Solar Power Suppliers & Distributors, Government Bodies, End-Users and Others