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Concentrated Solar Power Market to drive growth in environmental issues based on carbon emissions results in focus to decrease air pollution.
PORTLAND, OREGON, UNITED STATES, August 23, 2022 /EINPresswire.com/ — Concentrated Solar Power (CSP) Market Top Companies
The key players contributing in the global concentrated solar power market revenue include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frennel GMBH, and Siemens.
AMR published a report, the global Concentrated Solar Power Market Size is projected to reach $ 8,046.7 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The MEA region accounted for nearly 21.0% market share in 2018.
Key Locating of Concentrated Solar Power Market:
Concentrated solar power market in the Europe region held a share of over 41% in 2018 and is projected to grow to 10.1% by 2026.
The Asia-Pacific concentrated solar power market offers lucrative opportunities for key manufacturers, owing to rapid installation capacity of solar energy to increase renewable generation.
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The Industrial segment of concentrated solar powers market is predicted to grow with a CAGR 10.6% during 2019-2026.
The Solar Power Tower segment is expected to grow with the highest CAGR in the global Concentrated Solar Power market size in terms of revenue, over the projected period.
The qualitative data in the report aims on the concentrated solar power market trends, dynamics, and developments in the concentrated solar power industry while the quantitative data provide information of the size in terms of revenue.
Growth in environmental issues based on carbon emissions results in focus to decrease air pollution. This in turn raise demand for renewable energy such as solar energy. Thus, these factors are also anticipated to support the expansion of the market.
However, high cost experienced during Concentrated Solar Power energy production restraints the market growth during the forecast period.
Moreover, rise in investment from different industries in renewable sources provide lucrative opportunity for the market growth.
Based on technology, the parabolic trough segment dominated the market in 2017, owing to growing demand of electricity generation from parabolic trough technology.
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On the basis of end user industry, the market is classified into residential, commercial, and industrial. Based on end use industry, the industrial segment is expected to grow with the highest CAGR during the forecast period.
David Correa
Allied Analytics LLP
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August 23, 2022, 12:34 GMT
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