Market Overview:
The global concentrated solar thermal market is expected to grow from USD 2.02 billion in 2018 to USD 7.76 billion by 2030, at a CAGR of 17.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for renewable energy and rising concerns about greenhouse gas emissions. Concentrated solar thermal technology is used for generating electricity and heating applications such as water heating, space heating, and industrial processes such as drying and sterilization. Based on type, the parabolic troughs segment is expected to lead the global concentrated solar thermal market during the forecast period owing to its low cost of installation.
Product Definition:
Concentrated Solar Thermal (CST) is the process of using mirrors to concentrate and focus solar energy on a small area. The concentrated heat is then used to generate electricity, or to heat water or other fluids for industrial purposes. CST technology is important because it can be used to provide renewable, emissions-free energy in areas where traditional forms of energy production are not feasible.
Parabolic Troughs:
Parabolic troughs are solar thermal energy conversion systems that utilize the sun's rays to generate electricity. The system comprises a curved glass panel, which concentrates sunlight on a pipe-like collector, warming the liquid to temperatures as high as 150°C. As steam rises from the collector, it passes over a turbine-like device that generates electricity.
The system is cost competitive with other forms of renewable energy such as wind.
Tower/Heliostat Systems:
Tower/Heliostat systems are used to store thermal energy collected from a large area of solar surface and focus it on a small area for further use. It is one of the most efficient ways to utilize solar energy as compared to other conventional methods. The tower/heliostat system consists of tower, tracking device or mirror, receiver, battery & control electronics and field monitor.
Application Insights:
The market is segmented based on application into residential and industrial. The residential application segment accounted for the largest share in 2017, owing to increasing government subsidies and financial aid for installing solar thermal systems. Concentrated solar thermal systems are also used in industrial applications such as water heating, space heating or cooling, desalination plants, etc. Growing demand from the oil & gas industry is expected to drive growth over the forecast period.
The Latin America region is anticipated to witness significant growth over the forecast period due to favorable government policies coupled with rising electricity costs and environmental concerns regarding fossil fuel usage. Increasing urbanization along with population growth rates of 3% has resulted in a considerable increase in concentrated solar power installations across Latin America countries such as Brazil, Chile et al., which can be attributed towards market penetration/density across this region since 2014-15 (see Figure 2).
Regional Analysis:
Europe accounted for the largest market share of over 35% in 2017. The region is expected to dominate the industry on account of increasing investments and favorable government policies regarding concentrated solar power plants. For instance, in February 2018, Germany’s federal government announced plans to invest USD X million by 2020 in a project that will use the sun's heat to generate electricity.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising installations of CSP projects and growing awareness about renewable energy sources among consumers.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting renewable energy sources over traditional ones
- Reduction in solar panel prices, making concentrated solar thermal systems more affordable
- Growing concern over climate change and its effects, leading to an increase in investments in renewable energy technologies
- Advancements in concentrated solar thermal technology that improve efficiency and reduce costs
Scope Of The Report
Report Attributes
Report Details
Report Title
Concentrated Solar Thermal Market Research Report
By Type
Parabolic Troughs, Tower/Heliostat Systems, Others
By Application
Residential, Industrial
By Companies
Abengoa, Acciona, Orano, BrightSource Energy, Directed Vapor, GE Energy, Hitachi, SCHOTT, SEIA, Siemens, Abengoa
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Concentrated Solar Thermal Market Report Segments:
The global Concentrated Solar Thermal market is segmented on the basis of:
Types
Parabolic Troughs, Tower/Heliostat Systems, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abengoa
- Acciona
- Orano
- BrightSource Energy
- Directed Vapor
- GE Energy
- Hitachi
- SCHOTT
- SEIA
- Siemens
- Abengoa
Highlights of The Concentrated Solar Thermal Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Parabolic Troughs
- Tower/Heliostat Systems
- Others
- By Application:
- Residential
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Concentrated Solar Thermal Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Concentrated Solar Thermal (CST) is a technology that uses the sun's heat to create energy. The sun's rays are concentrated on a small area, which then creates heat that can be used to power things like homes and businesses.
Some of the major companies in the concentrated solar thermal market are Abengoa, Acciona, Orano, BrightSource Energy, Directed Vapor, GE Energy, Hitachi, SCHOTT, SEIA, Siemens, Abengoa.
The concentrated solar thermal market is expected to grow at a compound annual growth rate of 17.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Concentrated Solar Thermal Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Concentrated Solar Thermal Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Concentrated Solar Thermal Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Concentrated Solar Thermal Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Concentrated Solar Thermal Market Size & Forecast, 2020-2028
4.5.1 Concentrated Solar Thermal Market Size and Y-o-Y Growth
4.5.2 Concentrated Solar Thermal Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Parabolic Troughs
5.2.2 Tower/Heliostat Systems
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Concentrated Solar Thermal Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Concentrated Solar Thermal Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Parabolic Troughs
9.6.2 Tower/Heliostat Systems
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Parabolic Troughs
10.6.2 Tower/Heliostat Systems
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Parabolic Troughs
11.6.2 Tower/Heliostat Systems
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Parabolic Troughs
12.6.2 Tower/Heliostat Systems
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Parabolic Troughs
13.6.2 Tower/Heliostat Systems
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Concentrated Solar Thermal Market: Competitive Dashboard
14.2 Global Concentrated Solar Thermal Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abengoa
14.3.2 Acciona
14.3.3 Orano
14.3.4 BrightSource Energy
14.3.5 Directed Vapor
14.3.6 GE Energy
14.3.7 Hitachi
14.3.8 SCHOTT
14.3.9 SEIA
14.3.10 Siemens
14.3.11 Abengoa
