Concentrating Solar Power Market to Witness a Huge Growth by Key Players Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), SolarReserve (US), and Aalborg CSP

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 effective integration of CSP systems with thermal storage systems, and Use of CSP in desalination and enhanced oil recovery processes.

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"Linear concentrating systems: The second largest segment of the concentrating solar power market, by technology "
Based on technology, the concentrating solar power market has been split into solar power towers, linear concentrating systems, and dish stirling technology. Linear concentrating system was estimated to account for a second largest share of the concentrating solar power market in 2021. Reduced CAPEX and widespread implementation of parabolic troughs and linear Fresnel technologies are the key factors driving the implementation of linear concentrating systems.

"100 MW and Above segment is expected to emerge as the largest segment based on capacity"
The concentrating solar power market has been segmented into the less than 50 MW, 50 MW to 99 MW, and 100 MW and Above based on capacity. 100 MW and Above is expected to hold the largest market share. The 100 MW and above segment is driven by the need to install concentrating solar power systems for utility power generation applications in regions such as Asia Pacific and the Middle East & Africa
"Middle East & Africa is expected to be the second largest market during the forecast period."
Middle East & Africa is expected to be the second-fastest growing market due to need for water desalination, and development of renewable sectors in countries such as UAE, Saudi Arabia, and South Africa are driving the market for concentrating solar power in this region.

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Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1-65%, Tier 2-24%, and Tier 3-11%
• By Designation: C-Level Executives- 30%, Directors- 25%, and Others- 45%
• By Region: North America-27%, Europe- 20%, Asia Pacific- 33%, the Middle East& Africa-8%, and South America-12%

Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1:>USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: The concentrating solar power market is dominated by a few major players that have a wide regional presence. The leading players in the concentrating solar power market are Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), SolarReserve (US), and Aalborg CSP (Denmark).

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Research Coverage:
The report defines, describes, and forecasts the global concentrating solar power market, by technology, operation type, capacity, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the concentrating solar power market.
Key Benefits of Buying the Report
• The report identifies and addresses the key markets for concentrating solar power, which would help CSP technology manufacturers review the growth in demand.
• The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
• The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.

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