#Concentrated Solar Power (CSP) Market CAGR

[joeypetter]

Concentrated Solar Power (CSP) Market Size and Share expected to reach US$ 14.2 billion By 2030 - Reports and Insights

The report is titled as ‘Concentrated Solar Power Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the concentrated solar power market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The concentrated solar power market is expected to grow at a significant rate in the near future.

The global concentrated solar power market in 2020 is accounted for more than US$ 4.3 Bn and expected to reach a value of US$ 14.2 Bn by 2028 with a significant CAGR of 16.1%.

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Concentrated Solar Power Introduction

The advanced and cutting-edge concept of generation of electricity through mirrors to focus on the sun rays to the temperature differing between 400 and 1,000 °C, is known as the concentrated solar power market.

The energy generated from sun rays is then engaged in other several different applications such as heating any kind of liquid, majorly oil and water that conclusively generate hot air or steam. Afterward, the generated steam is employed to drive turbines that are linked to a generator that produces electricity.

The mirrors employed in the concentrated solar power system are in different shapes and sizes and various techniques are used to generate useful energy, although, each technique used works under the common concept of propelling the heat engine to produce electricity which later can be fed into the grid. The concept of concentrated solar power is witnessing significant demand in recent times owing to the growing awareness about the environment all across the world.

Concentrated Solar Power Market Dynamics

In the present-day world, there is huge awareness among the population with regard to a pollution-free environment coupled with numerous initiatives taken by several governments across the world to keep the surroundings green and healthy, which is majorly boosting the growth of the global concentrated solar power market. Concentrated solar power is an environmentally-friendly concept and cuts off the carbon emissions polluting the environment, which is one of the major benefits of the concentrated solar power system.

Therefore, the global concentrated solar power market is projected to witness substantial growth in the forthcoming years. In addition to that, concentrated solar power is an economical source of electricity that assists in deducting the energy bills, thus adding to the stimulating demand for concentrated solar power mechanisms in the global market.

Attributing to this, the global concentrated solar power market is expected to give a breakthrough during the forecast timeframe.

However, the installation of the concentrated solar power may be money exhaustive which is likely to restrict the adoption rate as well as act as a restraining factor for the growth of the concentrated solar power market in the coming years.

MMC Overview on Concentrated Solar Power Market Report

The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the Concentrated Solar Power market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

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Concentrated Solar Power (CSP) Market Segmentation

The concentrated solar power market is segmented on the basis of technology, component, end-user industry, and region.

By Technology

Parabolic Trough

Power Tower

Linear Fresnel

Dish/Engine System

By Component

Solar Field

Power Block

Thermal Energy Storage System

By End-User Industry

Utilities

Enhanced Oil Recovery

Others

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Concentrated Solar Power Market Key Players

Some of the key participating players in the concentrated solar power market are:

Abengoa Solar, S.A.

Brightsource Energy, Inc.

ACWA Power

Esolar, Inc.

Solarreserve, LLC

Aalborg CSP A/S.

TSK Flagsol Engineering GmbH

Alsolen

Archimede Solar Energy

Acciona Energy

Cobra Energia

Frenell GmbH

Nexans

Soltigua

Baysolar CSP

Siemens AG

Solastor

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Solar Tracker Market Size Worth $29.31 Billion By 2030

The global solar tracker market size is expected to reach USD 29.31 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 26.2% from 2023 to 2030. The market is expected to witness substantial growth over the forecast period owing to the growing need for renewable power generation. Solar tracker is installed on a PV system to get an increased energy output during the day. PV system trackers help to minimize the angle of incidence between incoming light and panel, thereby increasing the amount of energy produced. In Concentrated Photovoltaic (CPV) technology, a large part of sunlight is focused on a solar cell using an optical device. Concentrating light requires direct sunlight, thereby limiting this technology to clear locations.

The single axis type segment is predicted to witness significant growth from 2022 to 2030. Single axis trackers are more economical than dual axis trackers and easy to maintain. Single axis trackers are less expensive compared to dual axis trackers, therefore, are widely employed in residential and commercial applications. Reduced non-renewable energy consumption, improved efficiency, and lower CO2 emissions are likely to drive the solar power generation market, and thus the market is expected to witness significant growth over the forecast period.

The dual axis type segment accounted for the largest revenue share in 2021 and is projected to exhibit the highest CAGR during the forecast period. Dual-axis trackers comprise two degrees of freedom that act as an axis of rotation. The axis fixed to the ground is considered the primary axis and the one referenced to the primary axis is called the secondary axis. Dual axis trackers have modules that are oriented parallel to the secondary axis of rotation. Dual axis trackers allow maximum absorption of the sun’s rays on account of their ability to follow the sun both horizontally and vertically, thus generating 8% to 10% more energy than single axis trackers.

Solar PV technology held the largest revenue share in 2021. The simple design and cost-effectiveness of these trackers make them ideally suited for most PV applications at the utility level. In addition to cost-effectiveness, trackers installed on PV modules occupy less space as compared to the CPV and CSP technologies. The PV technology trackers do not require any additional lenses, mirrors, or sterling energy to generate electricity, thereby making them suitable for use in non-utility applications.

North America accounted for the largest share in terms of volume and revenue in 2021 and is expected to witness significant growth over the forecast period, considering the growing demand from the U.S., Canada, and Mexico. However, high initial investment and low cost of conventional sources of energy are likely to restrain market growth in North America.

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Solar Tracker Market Report Highlights

Solar tracker helps to increase the efficiency of solar cells. Increasing solar PV demand in various regions is expected to propel market growth over the projected period

Solar PV technology has been one of the fastest growing renewable sources of energy over the past few years in the U.S. Increasing government focus on renewable energy has resulted in the development of PV cells as a sustainable and continuous source of energy generation

The dual axis type segment held the largest revenue share of over 50.83% in 2022. Single axis tracker is projected to expand at a considerable CAGR during the forecast period. Single axis trackers are less expensive as compared to dual axis trackers and, therefore, are widely employed in utility and non-utility applications

The utility application segment accounted for the largest revenue share of more than 85.56% in 2022 and is projected to expand at the highest CAGR during the forecast period. Trackers are being used on a large scale in utility applications in light of the increasing government subsidies, coupled with feed-in tariff schemes, particularly in the North American and European region

North America accounts for the major market share in the global market and this trend is expected to continue till 2030. The Middle East and Africa market is projected to expand at the highest CAGR during the forecast period on account of a rise in the investments in solar energy in the region

Solar Tracker Market Segmentation

Grand View Research has segmented the global solar tracker market based on technology, type, application, and region: 

Solar Tracker Technology Outlook (Volume, Megawatt; Revenue, USD Million, 2018 - 2030)

Solar Photovoltaic (PV)

Concentrated Solar Power (CSP)

Concentrated Photovoltaic (CPV)

Solar Tracker Type Outlook (Volume, Megawatt; Revenue, USD Million; 2018 - 2030)

Single Axis

Dual Axis

Solar Tracker Application Outlook (Volume, Megawatt; Revenue, USD Million; 2018 - 2030)

Utility

Non-utility

Solar Tracker Regional Outlook (Volume, Megawatt; Revenue, USD Million, 2018 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

Spain

Italy

France

Asia Pacific

China

India

Japan

Central & South America

Brazil

Chile

Middle East & Africa

UAE

Saudi Arabia

List of Key Players of Solar Tracker Market

Abengoa Solar S.A.

AllEarth Renewables

Array Technologies Inc.

DEGERenergie GmbH & Co. KG

Nclave

Powerway Renewable Energy Co. Ltd.

Soltec Tracker

SunPower Corporation

Titan Tracker

Trina Solar Limited

[vipinmishra]

India Solar Energy Market Projections Point to Robust Growth in 2029

Growing awareness of less carbon emission and favorable government regulations are the factors driving the market growth in the forecast period.

According to TechSci Research report, “India Solar Energy Market - By Region, Competition, Forecast & Opportunities, 2029F”, the India Solar Energy Market is anticipated to register robust growth during the forecast period 2025 - 2029. Since between 2014 and 2021 year, according to Prime Minister Mr. Narendra Modi's statement in June 2022, the prospect for renewable energy in India expanded by 250%. In 2021, a global attempt to accelerate the development of clean energy was established in India under the name Mission Innovation Cleantech Exchange. As of October 2022, India’s installed renewable energy capacity (including hydro) stood at 165.94 GW, representing 40.6% of the overall installed power capacity. Owing to the rising government initiatives and growing renewable energy capacity in the nation, the India Solar Energy Market is anticipated to generate high CAGR in the future period.

Additionally, the growing demand of electricity is another factor driving the market growth. For instance, according to the Central Electricity Authority, India's electricity requirements, are expected to increase and reach 817 GW by 2030. The real estate and transportation sectors will generate the majority of the demand.

India Solar Energy Market is segmented based on Technology, Solar Module, Application, End-Use, and Region.  Based on region, the market is divided into West, North, South and East.

Based on Technology, the market is divided into Solar Photovoltaic (PV) and Concentrated Solar Power (CSP). Solar Photovoltaic (PV) segment is expected to dominate the market in the forecast period. The market for solar energy benefits from the rapid expansion of electric vehicle use by increasing demand for solar-powered EV charging infrastructure. In addition, lowering costs and government incentives have helped the PV system industry in India grow significantly in the recent years. Furthermore, solar energy is likely to become more popular as governments all over the world give it a higher priority, opening up prospects for industry innovation and expansion.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on” India Solar Energy Market.” https://www.techsciresearch.com/report/india-solar-energy-market/15652.html

Based on Solar Module, the market is divided into Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others. By gaining more than half of the market shares for solar energy in 2022, the polycrystalline sector was the industry-leading sector, nationally, and it is predicted that this pattern would continue throughout the forecast period.  This can be attributed to the fact that now a days calculators and smartwatches are often made in the electronics sector using new multi-Si (mc-Si) technology. Additionally, consumers' rising standard of living and rising disposable income have increased the need for electronics and smart devices, which is anticipated to drive up the demand for polycrystalline module.

Based on Application, the market is divided into Residential, Commercial, and Industrial. In terms of application, the industrial sector captured more than two-fifths of the solar energy market share in 2022, and it is predicted that this trend would continue over the course of the projection period. The nation's rapid industrialization and population growth have increased demand for a variety of commercial products. -.

Based on End-Use, the market is divided into Electricity Generation, Lighting, Heating, and Charging, where Electricity Generation segment is expected to dominate the market in the forecast period. Solar concentrators were developed as a result of the hunt for alternate power-generating methods brought on by the rising awareness of the environmental effects of greenhouse gases. Furthermore, the lack of fossil fuel resources in developing nations like India has prompted the development of solar-powered power plants as an alternative way of generating electricity.

Key market players in the India Solar Energy Market include:

Adani Enterprises Limited 

Emmvee Photovoltaic Power Private Limited

Azure Power India Pvt Ltd.

JinkoSolar Holding Co., Ltd.

NTPC Limited

The Tata Power Company Limited

Torrent Power Limited

Mahindra Susten Private Limited

Vikram Solar Limited

Vivaan Solar Private Limited

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“India’s solar energy market is expanding as a result of rising energy consumption driven by the country's expanding population. Additionally, rise in demand for renewable energy sources has been seen across the country, along with supportive government laws that have sped up industry expansion. These laws emphasize lowering reliance on fossil fuels and aid in reducing environmental pollution. Thus, the demand for renewable energy sources like solar energy is consequently boosted.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Solar Energy Market by Technology (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP)), By Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, Others), By Application (Residential, Commercial, Industrial), By End-Use (Electricity Generation, Lighting, Heating, Charging), By Region, Size, Share, Trends, Opportunity, and Forecast, 2029F”, has evaluated the future growth potential of India Solar Energy Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India Solar Energy Market.

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[ama2024]

https://www.advancemarketanalytics.com/reports/39152-global-mirror-coatings-market

What Challenges Mirror Coatings Market May See in Next 5 Years

Advance Market Analytics released a new market study on Global Mirror Coatings Market Research report which presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data. The research study provides estimates for Global Mirror Coatings Forecast till 2029*.

Mirror coatings are protective coatings used to shield against chemical corrosion, abrasion, rusting, scratching, and others for mirror coatings products. Resin type such as polyurethane, epoxy, acrylic, and others are used for mirror coatings. Substrate used includes silver, as well as aluminium. Mirror coating is used for concentrating solar power, concentrating photovoltaic and solar thermal installations. Increasing use of mirror coating particularly in architectural and construction sectors have expected to grow mirror coating market with healthy CAGR. Hence, coating suppliers are investing more in research and development. For instance, in 2016, 3M had invested approximately 1.6 billion in research and development for coating segment only. Also, it has been observed that, rising demand from Asian countries and automotive sector for mirror coating is likely to boost market globally.

Key Players included in the Research Coverage of Mirror Coatings Market are:

FENZI S.p.A Via Trieste Zona Industriale (Italy), Vitro, S.A.B. De C.V. (Mexico), Ferro Corporation (United States), Arkema (France), The Sherwin-Williams (United States), Glas Trösch (Switzerland), Diamon-Fusion International, Inc (United States), CASIX, INC (China), Mader (Australia), Pearl Nano (United States),

What's Trending in Market: The increasing use of mirror coatings in solar power and the growing need of sustainable mirror coatings which are eco-friendly is expected to boost growth of the market over forecast period  Growing Use in Automotive & Transportation Sector

Challenges: Huge cost of silver coating used in the mirrors Strict Rules and Policies and Environment Barriers

Opportunities: Growing Demand for Natural, Low-Voc, and Sustainable Mirror Coatings

Market Growth Drivers: Increasing Demand for Architectural Glass & Mirror particularly in Residential and Commercial Buildings High Demand from APAC Rising Focus on Concentrated Solar Power

The Global Mirror Coatings Market segments and Market Data Break Down by Application (Architectural, Automotive & Transportation, Decorative, Solar Power (Concentrated Solar Power Systems, CSP Considerations), Other), Substrate (Aluminum, Silver), Technology (Water-Based Coatings, Advantages of Water-Based Coatings, Solvent-Based Coatings, Nanotechnology-Based Coatings), Resin Type (Polyurethane, Epoxy, Acrylic, Alky)

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To comprehend Global Mirror Coatings market dynamics in the world mainly, the worldwide Mirror Coatings market is analyzed across major global regions. AMA also provides customized specific regional and country-level reports for the following areas.

• North America: United States, Canada, and Mexico.

• South & Central America: Argentina, Chile, Colombia and Brazil.

• Middle East & Africa: Saudi Arabia, United Arab Emirates, Israel, Turkey, Egypt and South Africa.

• Europe: United Kingdom, France, Italy, Germany, Spain, Belgium, Netherlands and Russia.

• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Malaysia, Singapore, and Australia.

[researchinenergyandpower]

The key drivers for the concentrating solar power market include environmental concerns over carbon emissions and efforts to reduce air pollution, support from governments to enable the adoption of renewable technologies, and the integrability of CSP systems with thermal storage systems.

According to a new market research report, the global concentrating solar power market size is estimated to be USD 6.0 billion in 2022 and is projected to reach USD 19.9 billion by 2027; it is projected to grow at a CAGR of 26.9% during the forecast period. The key drivers for the concentrating solar power market include support from governments to enable the adoption of renewable technologies, and the integrability of CSP systems with thermal storage systems.

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The report covers Solar Power Australia Market Share & Trends and is segmented by Type (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP)) and PV Deployment (Utility and Non-utility).

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Heat Transfer Fluids (HTF) Market Competitive Analysis

Heat Transfer Fluids (HTF) Market, By Product Type (Mineral Oils, Synthetic Fluids, Glycol-Based Fluids), End Use (Chemical & Petrochemical, Oil & Gas, Automotive, Renewable Energy, Pharmaceutical) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

Market Overview

The global Heat Transfer Fluids (HTF) market size was estimated at USD 3.6 billion in 2023 and is projected to reach USD 7.4 billion in 2030 at a CAGR of 9.50% during the forecast period 2023-2030.

Heat transfer fluids (HTFs) refer to either gases or liquids that are specifically designed to facilitate the movement of heat from one system to another. These fluids are typically made from highly refined petroleum, synthetically formulated hydrocarbons, or siloxanes, such as silicone. The use of HTFs can provide several advantages, including the ability to operate at high temperatures while maintaining low system pressures, as well as ensuring safety, low maintenance, and extended operating lifetimes. It is anticipated that these benefits will have a consequential impact on the HTFs market.

The growth of the global Heat Transfer Fluids (HTF) market is mainly driven by the the swift acceptance of concentrated solar power on a worldwide scale is among the principal stimulants of demand. Heat transfer fluids, which avoid overheating and accumulate thermal energy, are industrial commodities that stem from petroleum origins. The main components of the manufacturing process comprise crude oil, silica, and base oils. The fundamental traits that delineate a heat transfer fluid encompass low viscosity, a non-corrosive constitution, elevated thermal conductivity and diffusivity, as well as extreme phase transition temperatures. Heat transfer fluids are gaining significant importance in their applications, such as extracting heat from the sun in concentrated solar panels to processing gas & oil in cold climatic conditions.

On the other hand, volatile raw material prices may hamper the market growth to some extent.

The COVID-19 pandemic has had a profound impact on businesses and supply chains, causing significant disruption. Moreover, the oil and gas industry has also been adversely affected by the pandemic, impeding the growth of the heat transfer fluid industry. The decline in both the supply and demand of oil and gas, particularly in North America and Europe, has resulted in the suspension of onshore and offshore production processes, thereby hindering the expansion of the heat transfer fluids market. Additionally, the suspension of new solar power projects and the disruption of activities in operational plants have further obstructed the market.

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Delvens Industry Expert's Standpoint

The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. Heat transfer fluids (HTFs) are extensively employed in the chemical, oil and gas, and renewable energy sectors. Within the chemical processing industry, heat transfer is essential for the indirect heating of process liquids and polymers, single fluid batch processing, pipeline tracing, energy recovery, low-pressure cogeneration, the drying and heating of bulk materials, and gas processing. The escalating demand for chemicals from the automotive, energy and resources, construction, consumer goods, electronics, and health and nutrition industries has led to an increase in chemical production, which has in turn increased the demand for HTFs from chemical manufacturers. Additionally, HTFs are utilized in concentrated solar power (CSP) or solar energy generation and solar thermal storage, using concentrators such as parabolic trough-based systems. These fluids are employed to collect heat energy and transport it to a power station for thermal storage as a renewable energy technology. The increase in demand for clean energy worldwide has led to the establishment of various concentrated solar power plants across the globe. These factors have led to the expansion of the market and increased demand for Heat Transfer Fluids (HTF) solutions.

Key Findings

The Product Type segment is further fragmented into Mineral Oils, Synthetic Fluids and Glycol-Based Fluids. The Synthetic fluids segment is expected to account for a larger market size during the forecast period. Synthetic fluids surpass mineral oils in numerous aspects owing to their exceptional properties. They remain immune to oxidation, thermal breakdown, and oil sludge issues, thereby contributing towards minimizing evaporation losses. Moreover, their molecular structure exhibits uniformity and possesses robust bonds, rendering them thermally stable and durable, and augmenting their viscosity index. Additionally, their eco-friendly nature leads to reduced oil waste production. Nonetheless, their cost is comparatively higher than their mineral oil counterparts.

The End Use segment is further bifurcated into Chemical & Petrochemical, Oil & Gas, Automotive, Renewable Energy and Pharmaceutical. The Renewable energy industry is the largest market during the forecast period. Heat transfer fluids (HTFs) find their application in an array of renewable energy technologies such as concentrated solar power (CSP) plants, biodiesel production systems, wind turbines, and geothermal systems. Furthermore, HTFs can serve as an energy storage medium for the solar energy, which facilitates a consistent power supply in spite of the intermittent availability of sunlight. The demand for solar energy, in conjunction with the government's stringent regulations on clean energy, is anticipated to drive the growth of HTFs in the renewable energy industry.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe is estimated to account for the largest market share during the forecast period due to rising population coupled with increasing energy demand has propelled the power and energy sector growth.

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Regional Analysis

Europe to Dominate the Market

Europe is estimated to account for the largest market share during the forecast period due to rising population coupled with increasing energy demand has propelled the power and energy sector growth.  

Moreover, Ongoing construction of new solar plants along with existing demand in industrial sectors including, automotive and metal processing is anticipated to drive the industry demand in the region.

Competitive Landscape

Arkema

Basf

British Petroleum

Chevron

Clariant Ag

Dalian Richfortune Chemicals

Dupont Tate & Lyle

Dynalene

Eastman Chemical Company

Exxonmobil

Global Heat Transfer

Hindustan Petroleum Corporation

Huntsman Corporation

Indian Oil Corporation

Isel

Lanxess

Paras Lubricants Limited

Paratherm

Petro-Canada

Phillips 66

Radco Industries

Schaeffer Specialized Lubricants

Schultz Canada Chemicals Ltd.

Shell Plc

The Dow Chemical Company

Wacker Chemie Ag

Recent Developments

In 2022, Chevron completed the acquisition of the Renewable Energy Group. Chevron completed the acquisition of the Renewable Energy Group. This acquisition is expected to help company leverage its strengths to deliver lower carbon energy.  

In 2022, Eastman announced to expand the Therminol 66 heat transfer fluid manufacturing capacity in Anniston, Alabama. Plant expansion is expected to be completed in 2024 and will increase US-based capacity by 50%.

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Reasons to Acquire

Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.  

Gain authentic and granular data access for the Heat Transfer Fluids (HTF)Market to understand the trends and the factors involved in changing market situations.  

Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.  

In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope

The Heat Transfer Fluids (HTF)Market is segmented into various segments such as product type, end use and region:

Based on Product Type

Mineral Oils

Synthetic Fluids

Glycol-based Fluids

Others

Based on the End-Use

Chemical & Petrochemical

Oil & Gas

Automotive

Renewable Energy

HVAC

Pharmaceutical

Others

About Us:

Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.

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Concentrated Solar Power Market Poised for a significant with a CAGR of 10.3%

The global concentrated solar power market was valued at $ 3,793.0 million in 2018 and 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.

The key players contributing in the global concentrated solar power market growth include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frenell GMBH, and Siemens.

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CSP is generated in plants that utilize mirrors to focus the sun's energy on panel to create electricity or drive traditional steam turbines or engines. The thermal energy focused in a CSP plant can be used and stored to produce electricity when needed. Growing government support to adopt renewable technologies is expected to boost the demand for concentrated solar power plant.

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.

The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the market is divided into parabolic trough, solar power tower, Fresnel reflectors, and dish Stirling. Based on technology, the parabolic trough segment dominated the market in 2017, owing to growing demand of electricity generation from parabolic trough technology.

In addition, China is actively boosting the growth of the market to cope up with its severe pollution problems and develop its domestic manufacturing industry. Furthermore, availability of low labor has led to increase in energy production through concentrated solar power, which fuels the growth of the market.

Concentrated solar power energy is generation of electricity via mirrors to concentrate the sunrays to the temperature varying between 400 and 1,000 °C. This energy is then usually employed in various applications such as heating fluid, mainly water or oil, which in turn produces steam or hot air. The steam produced is used to drive turbines connected to a generator to generate electricity. There are different types of mirror shapes and sun-tracking methods to provide useful energy, but all of them work under a same principle of driving a heat engine to generate electricity that can then be fed into the grid.

The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the concentrated solar power market is divided into parabolic trough, solar power tower, fresnel reflectors and dish stirling. Parabolic trough is one of the earliest use technology in the concentrated solar power market. In parabolic trough technology the sun’s energy is concentrated by parabolically curved, trough-shaped reflectors onto a receiver pipe running along the inside of the curved surface.

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Global Concentrated Solar Power Market Size, By Region

Based on region, Europe accounts for major share in the global concentrated solar power market and MEA is attributed to be the fastest growing region. It is expected that the European Union’s total CSP capacity can reach as high as 5 GW by the year 2030. CSP activity is continued in Europe on a pilot scale, including the construction in France of a 9 MW Fresnel facility, and the construction in Denmark of a hybrid biomass-CSP facility incorporating 17 MW of CSP.

Global concentrated solar power market share, by technology

Based on technology, the Parabolic trough technology segment dominated the market in 2018. Parabolic trough is one of the oldest technologies used to generate electricity from concentrated solar power. All parabolic trough plants used presently are "hybrids," and they utilize fossil fuel to supplement the solar output during low solar radiation periods.

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Global concentrated solar power market share, by end user industry

Based on end use industry, the industrial segment is expected to grow with the highest CAGR during the forecast period. The temperature of the thermal oil or other heat transfer fluid flowing is increased from 293ºC to 393ºC through the pipe, and the heat energy is then used to generate electricity in a conventional steam generator. On the basis of end user industry, the concentrated solar power market is classified into residential, commercial, and industrial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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[pearlsmith25]

Captivating Investment Opportunities in the Thriving Thermal Energy Storage Market

Thermal energy storage (TES) is a technology that allows for the storage of excess thermal energy produced during off-peak hours for later use. It plays a crucial role in managing the demand and supply fluctuations of energy, especially in the context of renewable energy sources. TES systems store thermal energy in the form of hot or cold fluids, phase-change materials (PCMs), or through thermochemical reactions, and then release it when required.

The Thermal Energy Storage Market has been experiencing significant growth in recent years, driven by several factors such as increasing focus on renewable energy integration, the need for energy efficiency, and growing environmental concerns. TES provides a reliable and efficient solution for grid stabilization, load shifting, and balancing energy demand.

The global thermal energy storage market size was valued at US$ 4.65 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 10.28% from 2023 to 2030. The global thermal energy storage market is expected to witness a significant growth during the forecast period. This is attributed to increasing adoption of renewable power generation and growing demand for HVAC thermal energy storage systems. Moreover, the rising concern over greenhouse gas emissions and increasing fuel prices are further expected to drive demand for advanced thermal energy storage systems.

Here are some key aspects and trends in the Thermal Energy Storage Market:

Types of Thermal Energy Storage:

a. Sensible Heat Storage: In this type, thermal energy is stored by heating or cooling a liquid or solid material, such as water, rocks, or concrete. b. Latent Heat Storage: It involves the phase change of a material, typically a PCM, which absorbs or releases heat during the transition from solid to liquid and vice versa. c. Thermochemical Storage: This method stores energy through reversible chemical reactions that absorb or release heat.

Applications:

a. Residential and Commercial Heating: TES can be used for space heating and hot water production in residential and commercial buildings. b. Industrial Processes: TES is employed in various industrial sectors, including food and beverage, chemical, and manufacturing, to optimize energy use and reduce peak energy demand. c. Power Generation: TES technologies enable efficient operation and load balancing in power plants, especially in concentrated solar power (CSP) systems. d. District Heating and Cooling: TES systems can be integrated into district energy networks, providing efficient heating and cooling solutions for communities. e. Grid Energy Storage: TES helps in storing excess energy generated from renewable sources and releasing it during periods of high demand, thus supporting grid stability and reducing reliance on fossil fuel-based power plants.

Market Drivers:

a. Renewable Energy Integration: TES facilitates the integration of intermittent renewable energy sources, such as solar and wind, by storing excess energy for use during periods of low generation. b. Energy Efficiency: TES improves the overall energy efficiency of systems by reducing energy waste and optimizing energy use. c. Environmental Concerns: Growing environmental awareness and the need to reduce greenhouse gas emissions are driving the adoption of TES as a sustainable energy storage solution. d. Government Initiatives: Supportive policies and incentives provided by governments across the globe are promoting the deployment of TES technologies.

Regional Market Outlook:

a. North America: The United States and Canada are witnessing significant growth in the TES market, driven by renewable energy targets and increasing adoption of TES in various industries. b. Europe: Countries like Germany, Spain, and Denmark are leading the TES market in Europe, primarily due to their focus on renewable energy and energy storage technologies. c. Asia Pacific: China, India, and Japan are experiencing rapid growth in the TES sector, supported by government initiatives, investments in renewable energy, and increasing industrialization. d. Middle East and Africa: The Middle East region, with its abundant solar resources, is adopting TES technologies for CSP systems, while African countries are exploring TES for off-grid and rural electrification projects.

Key Market Players:

a. CALMAC Corporation b. DN Tanks c. Abengoa Solar d. BrightSource Energy e. SolarReserve f. Tesla, Inc. g. Ice Energy h. Burns & McDonnell i. Goss Engineering j. Steffes Corporation

The Thermal Energy Storage Market is expected to witness significant growth in the coming years, driven by the increasing demand for renewable energy integration, grid stabilization, and energy efficiency. Advancements in materials, technologies, and the supportive regulatory environment will continue to fuel the market's expansion, leading to a more sustainable and reliable energy future.

[solarpowerindustry]

Concentrated Solar Power (CSP) Market - Growth, Trends, - GlobeNewswire

The concentrated solar power (CSP) market is expected to register a CAGR of more than 7.5% during the forecast period. http://dlvr.it/Sm6BWl

[energypowernews]

Five Simple Tactics That’ll Boost Solar Thermal Market by 2031

The major companies profiled in solar thermal market report include Solareast Holdings Co. Ltd, Greenonetec Solarindustrie GmbH, BTE solar Co. Ltd, Linuo Ritter International Co. Ltd, Photon Energy Systems Limited., BrightSource Energy, Parvelon CSP Technologies, Abengoa Solar, Siemens AG, Acciona, SolarReserve, Torresol Energy, Trivelli Energy, Sener, Lointek, SCHOTT, Abors green GmbH, and Liontek.

According to a new report published by Allied Market Research, the solar thermal market size was valued at $21.5 billion in 2021, and solar thermal industry is estimated to reach $35.3 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

Asia-Pacific is expected to exhibit CAGR of 5.5% during 2022-2031.

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Rise in prominence of solar space heating coupled with significant development of testing facilities for solar receiver tubes and other thermal components, will foster the solar thermal market trends.

The introduction of favorable schemes to encourage the installation of solar water heaters and heat pump technologies is projected to further amplify industry expansion in the upcoming years.

In 2021, Miriam Dalli, Minister for Energy, Enterprise and Sustainability in Malta, launched new schemes to encourage consumers to make a switch from conventional geysers to efficient solar water heaters.

Due to rapid industrialization, urbanization and gradual increase in population has led to increase in the demand for power.

The demand for power from clean energy resources has increased the demand for solar thermal system.

Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in new technologies related to solar thermal energy system have led to attain key developments in the global solar thermal market trends.

By system, thermosiphon solar heating system reforming was the leading segment in 2021.

By application, hot water system segment accounted for the largest market share in 2021.

By end use, residential had the largest market share in 2021.

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The most rising trend in the solar thermal market is the solar district heating system coupled with seasonal storage. The most classic example is the solar district heating system recently established by Savosolar Oyj company in Cadaujac, France, in December 2021.

The system is combined with a seasonal borehole thermal storage from AbSOLAR for supplying heat and domestic hot water to around 67 single-family houses connected to the network. The incentives offered by the government can propel the market to the greatest extent.

For instance, in March 2021, Danish gas transmission system operator Evida decided to exempt those households who want to use renewable energy for heating instead of gas supplied through the grid from paying grid disconnection fees.

Solar thermal systems collect energy from sun and transform it into heat which is used to raise the temperature of a heat transfer fluid. This fluid can be air, water or specially designed fluid which can be directly used for hot water or space heating and cooling.

Solar thermal power or electric generation systems can collect and concentrate the sunlight to generate high-temperature heat that is required to produce electricity.

The global COVID-19 pandemic had a negative impact on the solar thermal market. The major problems being it might be possible that companies may not be able to meet project delivery timelines that could alter tax treatment or eligibility for state incentives for such projects.

Browse Complete Report @ https://www.alliedmarketresearch.com/solar-thermal-market-A06891

In November 2020, the City of Albuquerque Parks and Recreation announced the temporary closure of the Highland Pool to limit the spread of the virus to employees. Such disruptions across the swimming pool facilities may create an indirect impact on the deployment of solar thermal heating systems.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

Follow Us on | Facebook | LinkedIn | YouTube

[solarbeee]

Using Solar Power to Generate Electricity

Usingsolarpower, energy can be generated from the sunlight. There are many ways to harness this energy. You can generate electricity with the help of solar architecture or you can use solar thermal energy.

Concentrated solar power

Using concentratedsolar power Batemans Bay(CSP), the energy produced from the sun can be stored for use during cloudy days or overcast days. The stored thermal energy can then be used to generate electricity. This technology has become more affordable and has increased in popularity.

There are three main types of CSP systems: power tower, dish Stirling, and fresnel reflectors. Each technology works differently. Power tower systems are expected to grow in popularity because of their ability to store energy. The dish Stirling system uses a similar technology to a satellite dish, but uses no water.

The dish Stirling system consists of a parabolic concentrator, a Stirling engine, and a solar light receiver. Its design is different from other concentrating technologies. The heat produced by the sun drives the heat engine, which in turn powers a steam turbine to generate electricity.

Photovoltaic cells

Several types of solar cells are used to harness solar energy. They include polycrystalline, monocrystalline, and thin film. They can be arranged in an array to generate higher currents. They can also be used to supplement conventional electric power sources. Some of the solar energy is stored in batteries, while some is used to generate hydrogen gas for fuel cells.

Most modern solar cells are made of silicon. However, thin film solar cells are rapidly growing in popularity. This technology can be simpler to manufacture. It also tends to be less efficient than silicon cells.

In terms of cost, manufacturing a monocrystalline PV cell is more expensive than a polycrystalline one. The efficiencies are generally about 15% to 18%.

The 'photovoltaic effect', which is the name given to the chemical reaction that converts light energy to electrical energy, was first studied in 1954 by Bell Labs. The first practical applications of a photovoltaic cell were in telecommunications.

Concentrated solar thermal energy

During the last decade, the concentrated solar thermal (CST) industry has seen an exponential growth. While some countries have developed plants, most of the development has taken place in the United States and Spain. Despite these developments, the CST industry has fallen behind other alternative energy systems.

The technology has evolved from the earliest attempts to use mirrors to focus the sun's rays. Archimedes used mirrors to focus light and heat on his enemy's ship. Today, regular solar thermal technology is used to power hot water systems in Australia. These systems use mirrors to direct sunlight and heat to a receiver.

The first concentrated-solar plant was built in California in the 1980s. It used a design similar to that of today's power tower plants. The plant produced 1 MW of electricity with superheated steam. Other plants were built in California, Spain, Japan and the United States.

Building-integrated photovoltaics

Increasing awareness of clean energy security, rising demand for zero emission buildings and government norms for sustainable buildings are expected to drive the market growth. The market is expected to witness a CAGR of 14.5% from 2017-2021, according to a recent report by Future Market Insights.

The European market is expected to lead the global market due to the favorable outlook for renewable energy. Germany and Italy are among the countries that promote the use of solar energy. These countries have also passed several regulations to support the growth. Moreover, the government has encouraged building-integrated photovoltaics systems across various projects.

The market growth is also driven by the increasing focus of consumers on energy efficiency. As a result, more and more consumers are opting for homes with integrated photovoltaics.

Recycling

Using asolar panelto generate electricity is a green, clean, and renewable source of energy. It can be used at homes, schools, and commercial and industrial facilities. The panels are installed at private commercial and industrial facilities.

As the technology advances and the cost ofsolar panelsdeclines, the demand for recycling of used panels will increase. The value of recycled PV materials will rise to more than $80 billion by 2050.

The solar industry is developing new technology that will make recycling easier. For example, a company called Solarcycle claims it can extract 95 percent of high-value metals from a solar panel. However, it faces tough economics. Its cost of recycling a panel is between $20 and $30.

Other recycling initiatives are making steady progress. In the US, Solaria and First Solar have manufacturing facilities in the United States, and Veolia has one factory in France.

[marketresearchpp]

Concentrated Solar Power Market

Global Concentrated Solar Power Market was valued at USD 6.56 billion in 2021 and is expected to reach USD 10.97 billion by the year 2028, at a CAGR of 7.62%.

Concentrated Solar Power technology uses mirrors to reflect sunlight and focus on the receiver. The concentrated solar energy heats the hot liquid in the receiver from heat is heat generated, also known as thermal energy, which can be used to turn turbines and drive engines to generate electricity. It can also be used in a variety of industrial applications, including Water desalination, improved oil recovery, food processing, chemical production, and mineral processing. Concentrated Solar Power plants are typically used for power plant projects. These utility-scale CSP systems can be configured in different ways. The electric pylon system places a mirror around the central tower that acts as a receiver.

According to the recent report published by Introspective Market Research, the Global Concentrated Solar Power Market report provides sustainable growth opportunities, challenges, scope, Driver restraints and latest trends during the forecast period from 2021 to 2027. This latest industry research study analyses the Concentrated Solar Power market by various product segments, applications, regions and countries while accessing regional performances of numerous leading market participants. In this report, there are various approaches and procedures approved by key market players that enable efficient business decisions.

[researchinenergyandpower]

According to a new market research report, the global concentrating solar power market size is estimated to be USD 6.0 billion in 2022 and is projected to reach USD 19.9 billion by 2027; it is projected to grow at a CAGR of 26.9% during the forecast period.. The key drivers for the concentrating solar power market include support from governments to enable the adoption of renewable technologies, and the integrability of CSP systems with thermal storage systems.