Current Business Affairs Global Concentrated Solar Power Market 2018

Concentrated Solar Power Market by Technology, Components, End-
User, and Region - Global Forecast to 2025
Market Definition:
The global concentrated solar power market was estimated as USD 4.5 Billion in 2016 and is expected to reach USD 11.2
Billion by 2025, growing significantly with a CAGR of over 10% during the forecast period. Growing concerns towards
depletion of fossil fuels, stringent government rules and guidelines to control the increasing carbon footprint and the
ability of concentrated solar power systems to supply dispatch able power is predicted to drive the growth of the
market.
Concentrated solar power systems utilizes mirrors to concentrate a large area of sunlight on a small area for generating
solar power. When the concentrated light is converted to heat; the heat is then channeled through a conventional
generator and electricity is generated. The plants consist of two major parts, one part collects solar energy and converts
it to heat and another one converts heat energy to electricity.
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Market Analysis with Latest Growth Factors:
Concentrating solar power systems can be used for grid-connected applications of up to 100 MW. It is considered as an
attractive renewable energy option in the Sunbelt regions across the globe, as the amount of power generated by a
concentrating solar power plant depends on the amount of direct sunlight collected by the collector panels. With many
other options available, such as photovoltaic cells, concentrated solar power system is the cheapest form of solar at
utility-scale which is about ten times cheaper than photovoltaic combined with battery for storage.
The global concentrated solar power market is bifurcated based on the technology, component, end-user and region.
Based on the technology, the market is segmented as parabolic trough, solar tower, and linear Fresnel and dish/engine
systems. The parabolic trough segment is expected to dominate the concentrating solar power market during the
forecast period, owing to the large-scale penetration of the design and ease in installation and usage. Parabolic trough
systems consist of parabolic trough-shaped reflectors which follows the sun during the daylight hours by tracking along
the axis. Currently, all parabolic trough plants are hybrids, i.e. they use fossil fuel to supplement the solar output during
periods of low solar radiation.
Major Key Players:
Major players in the global concentrated solar power market includes, Brightsource Energy, Areva, eSolar, Acciona, Solar
Millennium, Abengoa, Solar Reserve, Siemens, GE, Aalborg CSP and ACWA Power, among all the others. GE Renewable