The concentrating solar power market size is projected to reach USD 18.41 billion by 2025 from an estimated USD 9.60 billion in 2019 with ~ 11.46% CAGR from 2019 to 2025.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023
Global Concentrating Solar
Power Market Research
Report: Forecast to 2025

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Global Non-Volatile Memory Market Research Report: Forecast to 2023
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Global Non-Volatile Memory Market Research Report: Forecast to 2023
Summary
Concentrated solar power is a technology that can harness the sun’s energy potential and provide reliable
renewable energy. Market Research Future (MRFR) has published a research report about the global
concentrating solar power market that predicts growth for this market at between 2016 and 2022.
Accrediting the colossal growth the Concentrating Solar Power market is witnessing currently and the potential the
market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has
recently published a meticulous study report giving out the complete market insight up till 2023. According to
which, continuing with the same trends the global Concentrating Solar Power market is projected to perceive an
outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).
Analyzing the market structure, this report gauges the future growth potential of the market. It monitors the plans of
the key players in the market and supports the competitive developments like joint ventures, new product
developments, mergers & acquisitions, research and developments (R&D) in the market.
The prominent factors driving the global concentrating solar power market growth include growing awareness
about eco-friendly power, need for renewable sources of energy, cost-effective energy, and low maintenance
costs. However, the high cost of initial installation can limit market growth.
The limited supply of fossil resources and the negative impact of carbon emissions on the global environment
dictate the increasing usage of renewable energy sources. Concentrated solar power (CSP) is the most likely used
renewable resource of providing energy, because it is amongst the most cost-effective renewable electricity
technologies and unrestricted supply. Concentrated solar power (CSP) is a method of electric generation fuelled by
the heat of the sun, an endless source of clean, free energy. Commercially viable and quickly expanding, this type
of solar technology requires strong, direct solar radiation and is primarily used as a large, centralized source of
power for utilities.
Whereas, CSP is currently more expensive than photovoltaic (PV) technology, projects take longer to set up, and
CSP plants need more water per unit of electricity produced. Increasing clean energy adoption over non-renewable
fuels is expected to drive the global concentrated solar power over the forecast timeframe. Favourable government
regulations towards reduction of carbon footprint and greenhouse gas (GHG) emissions will further enhance the
business growth.
Market Segmentation
The global concentrating solar power market has been segmented on the basis of application, product, and lastly,
region.
The application-based segmentation segments this market into commercial application, industrial application,
residential application. Commercial areas are places where businesses and retail stores are located. Industrial
areas are areas where factories and manufacturing units are located. Residential areas are areas where
residential premises are located.
Based on product, the market has been segmented dish sterling, linear Fresnel, parabolic trough, and solar tower.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023
Competitive Landscape
Concentrating Solar Power Market appears to be highly fragmented and competitive owning to the presence of
numerous large and small players active in regional market. The key strategies traced from the analysis of recent
developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion.
Strategic partnerships between Key players support the growth and expansion plans of the key players during the
forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and
fostering strong relationships with customers to support their competitive position.
Regional Analysis
The regional segmentation of the global concentrating solar power market segments the market into the regional
markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). Europe is a priority regional
market due to new projects, government initiatives towards grid-scale renewable power generation, and a number
of installation security of supply with an objective to reduce greenhouse gas emission. Many important market
players are also based in Europe. Vital country-specific markets in this region are France, Germany, and the UK,
followed by the remaining countries of Europe.
In North America, the market is significant due to established industries, government initiatives favoring eco-
friendly methods of power generation, and the presence of many key market players in North America. In this
region, the crucial country-specific markets are the USA and Canada.
During the forecast period, the Asia Pacific regional market is expected to grow at high speed due to major
installations taking place in countries such as China and India. During the forecast period, the largest concentrated
solar power plant of Asia Pacific region which is under-construction has been expected to become operational.
That will certainly elevate the market growth. Japan (followed by remaining countries of Asia Pacific region) is
another important economic power which encourages eco-friendly measures of production.
The RoW segment lists the countries of the Middle East & Africa (MEA). In the MEA region, the market is limited
due to poor countries, lack of awareness, lack of technological advancement, and lack of education.
Industry/ Innovations/ Related News
• In South Africa, a Northern Cape solar plant has become operational. It can power nearly 180,000 homes. 15
FEB 2019
• A research team from Michigan State University has developed fully transparent solar panels that can
generate electricity. They have the ability to power various applications in architecture, automotive, or mobile
electronics industry. 5 MAR 2019
• Chinese firm Shandong Electric Power Construction Co. Ltd., a subsidiary of Power Construction Corporation
of China has helped to build world’s largest concentrated solar power complex called NOOR Concentrated
Solar Power (CSP) project in the desert of Ouarzazate, Morocco. 20 JAN 2019

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Global Non-Volatile Memory Market Research Report: Forecast to 2023
• Norway that has developed a field-proven portfolio of completion systems and intervention tools.