Grand View Research, Inc. - Market Research And Consulting.According to report published by Grand View Research, increasing awareness about renewable energy along with government regulations to control growing carbon footprint is further propelling the concentrated solar power market growth. Increasing clean energy adoption over non-renewable fuels is expected to drive the global concentrated solar power over the forecast timeframe.
According to a new report, "Concentrated Solar Power Market Analysis, By Technology (Parabolic Trough, Linear Fresnel, Dish, Power Tower), By Region (North America, Europe, Asia Pacific, South & Central America, MEA), And Segment Forecast, 2018 - 2025", published by Grand View Research, Inc., the global concentrated solar power market is predicted to reach USD 8.92 billion by 2025. Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is further propelling the market growth.
Key Takeaways from the report:
The U.S. concentrated solar power market, in terms of value, will witness growth of over 18.9% over the forecast period. Favourable government initiatives like tax credits, installation cost subsidies among other benefits will augment the business growth.
In Morocco, climatic conditions are favourable to the growth of CSP technology adoption, in tandem with the existing pipeline projects. Morocco concentrated solar power market is expected to exceed USD 852.2 million over the forecast period.
Spain concentrated solar power market size is set to exceed USD 1.22 billion by 2025. Spain is the market leader with the maximum installed capacity in the world as of year 2017.
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.
Have some specific queries about this report, our team of analyst will be glad to help!
Growing electricity demand along with rising investments to augment the efficiency index will provide an impetus to the concentrated solar power market growth. The Federal Government sponsored USD 9 million towards the research and development of six new CSP projects in the country, to reduce the total project costs though technological growth.
Substantial reduction in the component costs along with supportive government incentives like energy certificates, and carbon credits will expand the concentrated solar power market over the forecast period. Regulators around the world have been encouraging grid integration, making it an affordable alternative compared to non-renewable energy sources.
Concentrated Solar Power technology can store solar energy in the form of heat, even post sunset, which is perceived as the greatest advantage that it offers over all the other competing technologies. Reliable power supply coupled with flexibility in usage assist in bridging the demand supply deficit, currently faced by nations especially in the developing world. However, CSP technology is capital intensive as compared to other solar thermal technologies, as this may prove to be a restraint for the its adoption over the forecast period.
Access complete Renewable Energy Report Portfolio By Grand View research, Inc.
In terms of technology, the parabolic trough technology held over 75% of the global concentrated solar power market share in 2016. Matured technology coupled with affordable costs as compared to other forms of available systems will positively influence the growth of the concentrated solar power market over the forecast period. Power tower technology was valued over USD 955.5 million by 2025. Enhanced heat storage ability, higher efficiency, and favourable capacity factor will augment the business growth.
Grand View Research has segmented the global CSP market on the basis of product and region:
Technology Outlook (Volume, Megawatts, 2014 - 2025) (Revenue, USD Million, 2014 - 2025)
Parabolic Trough
Linear Fresnel
Dish
Power Tower
Application Type Outlook (Volume, Megawatts, 2014 - 2025) (Revenue, USD Million, 2014 - 2025)
Utilities
Enhanced Oil Recovery
Desalination
Others
Regional Outlook (Volume, Megawatts, 2014 - 2025) (Revenue, USD Million, 2014 - 2025)
North America
U.S.
Europe
Spain
Italy
Asia Pacific
China
India
Central & South America
Morocco
Algeria
Middle East and Africa
South Africa
Saudi Arabia
Check out special pricing options for sectional purchase and startup companies
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/concentrated-solar-power-csp-market
Source: www.abnewswire.com
