Concentrating Solar Power Market

Market Leaders - Concentrating Solar Power Market

The global concentrating solar power market size is projected to reach USD 7.6 billion by 2025 from an estimated value of USD 3.5 billion in 2020, at a CAGR of 16.4%. The environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies, and the integrability of CSP systems with thermal storage systems are the key factors driving the concentrating solar power market.

The concentrating solar power market is dominated by a few global players, mainly from the Middle East & Africa and Europe. The key players in the concentrating solar power market include Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), Aalborg CSP (Denmark), and SolarReserve (US) and other players such as TSK Flagsol Engineering GmbH, Alsolen, Cobra Energia, Torresol Energy, Acciona Energy, eSolar, and Enel Green Power.

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Major strategies adopted by the players are new product launches; contracts & agreements; partnerships, collaborations; and investments & expansions from 2016 to May 2020. Contracts & agreements was the most commonly adopted strategy. Industry players also adopted investments & expansions, new product launches and partnerships & collabrations, which were the second and third most widely followed strategies, respectively, during the same period.

Abengoa (Spain) is a provider of technology solutions for sustainable development in the environment and energy sector. The company offers technologies that help in generating electricity from the sun, producing biofuels, recycling industrial waste, and desalinating seawater. The company operates through 2 business segments, namely, Engineering and Construction and Concession-type Infrastructure. Under the Engineering and Construction segment, it offers projects for thermo-solar plants, conventional generation plants, solar-gas hybrid plants, and others. In addition to this, it is engaged in activities that are related to the development of water management technologies and solar thermal power solutions. The company offers solar power towers and parabolic troughs CSP technologies, along with molten salt thermal energy storage, in the concentrating solar power market. It offers concentrating solar power across all capacities. The R&D efforts of the company are directed towards the development of projects in the solar area; the company has a key focus on CSP component optimization and possibilities of CSP integration into different sectors, such as heat process or solar fuels. Key clients of the company are Ence Energía y Celulosa (Spain), Shanghai Electric Group (China), SEPCO III Electric Power Construction (China), and Shuangliang Royal Tech CSP Technology (China).

BrightSource Energy (US) focuses on clean energy and is a designer and developer of solar thermal technology that enables the production of energy in utility-scale power plants. The company offers proprietary software for CSP technology to control thousands of tracking mirrors, known as heliostats. In the concentrating solar power market, the company offers solar power towers in greater than 100 MW capacity for their solar thermal energy system technology across end-use industry segments, such as utilities and enhanced oil recovery (EOR). In addition, it offers thermal energy storage, which extends electricity production from solar thermal systems effectively in later parts of the day and after sundown. BrightSource Energy, along with Chevron Technology Ventures (US), constructed the world’s largest CSP plant with a capacity of 29 MW, which supported enhanced oil recovery efforts in Coalinga, California. BrightSource also built the 135 MW Huanghe Qinghai Delingha CSP plant in Qinghai, China, and started production in 2017. The project has multiple power towers, along with thermal energy storage, and uses 2-tank indirect for its thermal storage. BrightSource is operating the 377 MW Ivanpah Solar Electric Generating System (ISEGS) CSP plant in California’s Mojave Desert, which uses solar power towers. This project aims to reduce carbon dioxide emissions by more than 400,000 tons per year.

Related Reports:

Concentrating Solar Power Market by Technology (Power Towers, Concentrating Systems, Stirling Dish), Operation (Stand-alone, Storage), Capacity (Less than 50MW, 50-99MW, 100MW&Above), End-User (Utilities, EOR & Others) and Region - Global Forecast to 2025

Mr. Aashish Mehra
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