
Concentrated Solar Power
Concentrated Solar Power Market Forecasts to 2030 - Global Analysis By Component (Solar Field, Thermal Energy Storage System, Power Block and Other Components), Technology (Solar Power Tower, Parabolic Trough, Linear Fresnel Reflectors and Other Technologies), End User (Industrial, Non-Residential, Utilities and Other End Users) and By Geography

According to Stratistics MRC, the Global Concentrated Solar Power Market is accounted for $6.91 billion in 2024 and is expected to reach $20.02 billion by 2030 growing at a CAGR of 19.4% during the forecast period. Concentrated Solar Power (CSP) is a renewable energy technology that harnesses sunlight to generate electricity. Unlike photovoltaic systems that convert sunlight directly into electricity using solar panels, CSP systems focus sunlight onto a small area using mirrors or lenses. This concentrated sunlight heats a fluid, typically water or molten salt, to produce steam, which then drives a turbine connected to a generator to generate electricity. Additionally, CSP plants can be integrated with thermal energy storage systems, allowing for electricity production even after sunset.
According to Helioscsp, this technology is estimated to produce 20% of oil production by 2030, which will help to extend the lives of oil fields. According to the Solar Energy Industries Association, the US installed 3.6 GW of solar PV capacity in Q1 2020 to reach up to 81.4 GW of total installed capacity—enough to power 15.7 million American homes.
Market Dynamics:
Driver:
Growing concerns about energy security
As traditional energy sources face volatility due to geopolitical tensions and finite reserves, countries seek sustainable alternatives to safeguard their energy independence. CSP offers a viable solution by harnessing solar energy through large-scale installations, providing a reliable and renewable power source. Its inherent reliability, with the ability to store thermal energy for extended periods, mitigates the intermittency issues commonly associated with solar power. Furthermore, CSP facilities can be strategically located in regions abundant in sunlight, reducing dependency on imported fossil fuels and strengthening domestic energy resilience.
Restraint:
High initial investment
High initial investment acts as a significant barrier to the growth of the Concentrated Solar Power (CSP) market. The technology requires substantial upfront capital for construction and infrastructure development, including specialized mirrors, receivers, and storage systems. These costs often deter potential investors and developers from entering the market or expanding existing projects. The lengthy construction period further exacerbates financial risks, as returns on investment are delayed. However, the uncertainty surrounding government policies and incentives adds another layer of hesitation for investors. Without sufficient financial backing and favorable regulatory support, the widespread adoption of CSP technology is hindered, limiting its potential contribution to renewable energy targets and sustainable development goals.
Opportunity:
Job creation and economic development
As governments and businesses invest in CSP infrastructure, such as solar power plants and associated technologies, they create a demand for skilled labor in construction, engineering, and maintenance sectors. This leads to job opportunities for local communities, stimulating economic growth and development. Moreover, the establishment of CSP projects often requires collaboration between various stakeholders, including government agencies, investors, and technology providers, fostering partnerships and boosting innovation.
Threat:
Slower adoption in underdeveloped areas
The slower adoption of concentrated solar power (CSP) in underdeveloped areas presents a significant hindrance to the growth of the CSP market. Limited access to capital, inadequate infrastructure, and regulatory challenges impede the implementation of CSP projects in these regions. Underdeveloped areas often lack the necessary technological expertise and skilled workforce required for the construction and maintenance of CSP plants, further exacerbating the adoption gap. However, unreliable grid systems and inconsistent government policies deter potential investors from committing to CSP projects in these regions.
Covid-19 Impact:
The Covid-19 pandemic significantly impacted the Concentrated Solar Power (CSP) market due to the widespread disruptions in global supply chains caused delays in the construction and deployment of CSP projects, leading to project cancellations or postponements. The economic downturn resulting from lockdowns and restrictions reduced investments in renewable energy projects, including CSP. The uncertainty surrounding the pandemic also affected investor confidence, further slowing down the growth of the CSP market. Moreover, travel restrictions and social distancing measures hindered the execution of maintenance and operation activities for existing CSP plants, affecting their efficiency and performance.
The Power Block segment is expected to be the largest during the forecast period
Power Block segment is expected to be the largest during the forecast period by improving overall efficiency and reliability. It consists of key components like turbines, generators and heat exchangers, which convert solar energy into electricity. Innovations in Power Block technology have led to increased efficiency in converting solar heat into electricity, making CSP systems more cost-effective and competitive with other forms of renewable energy. Advanced designs and materials allow for higher temperatures and pressures, resulting in greater energy output and improved performance even in challenging environments.
The Linear Fresnel Reflectors segment is expected to have the highest CAGR during the forecast period
Linear Fresnel Reflectors segment is expected to have the highest CAGR during the forecast period, by offering a cost-effective and efficient alternative to traditional concentrating solar technologies. Unlike conventional CSP systems that use large parabolic mirrors or dishes to concentrate sunlight onto a single focal point, LFRs utilize long, flat mirrors to reflect sunlight onto a linear receiver. This segmented design allows for easier manufacturing, installation, and maintenance compared to other CSP technologies, making LFRs more accessible to a wider range of applications and locations.
Region with largest share:
Asia Pacific region commanded the largest share of the market over the extrapolated period, by combining CSP with other renewable energy sources like wind or photovoltaic (PV) systems, hybrid power plants are addressing the intermittency issues inherent in solar energy. This integration ensures a more stable and reliable power supply, catering to the region's increasing energy demands. Additionally, hybridization in the region allows for better utilization of existing infrastructure and resources, optimizing the overall efficiency of the power generation process. The flexibility offered by hybrid power plants enables energy producers to adapt to varying weather conditions and demand patterns, further bolstering the region's energy resilience.
Region with highest CAGR:
Asia Pacific region is poised to hold profitable growth over the estimation period. Through policies promoting renewable energy and incentivizing CSP projects, governments are driving investment and innovation in the sector across the region. Regulations mandating renewable energy targets or providing financial support such as feed-in tariffs and tax incentives encourage the regional adoption of CSP technology. Additionally, regulatory frameworks ensure grid integration and streamline permitting processes, reducing barriers to entry for CSP developers in the Asia Pacific region.
Key players in the market
Some of the key players in Concentrated Solar Power market include Aalborg CSP A/S, Abengoa Solar, S.A, Archimede Solar Energy, Frenell GmbH, General Electric, GlassPoint Solar, Siemens AG, Solarreserve, LLC, Torresol Energy, Brightsource Energy, Inc and TSK Flagsol Engineering GmbH.
Key Developments:
In February 2024, ACWA Power and Larsen and Toubro Limited (LandT) announced that it has been selected Nextracker, a leading global provider of intelligent solar tracking equipment and software solutions, to supply the NX Horizon-XTR™ ground tracker for a 1.17 GW installation in Al Kahfah. Solar energy. Power plant, a strategically important renewable energy project in the Central Province of Saudi Arabia, part of the National Renewable Energy Program.
In August 2023, In aggregation with President Biden's visit to Wisconsin, Siemens announced that it will begin production of photovoltaic (PV) inverters in Kenosha, Wisconsin, where the company produces solar energy components specifically designed to serve the US market. Owned and operated by the company's long-term manufacturing partner Sanmina, the Kenosha plant will help meet increased demand for local manufacturing of critical parts of solar projects and help customers take advantage of the full value of solar tax incentives and home content incentives.
In July 2023, BrightSource Energy Inc., a global leader in concentrated solar thermal (CSP) technology, has announced the spin-off of its Israeli, UK and South African subsidiaries to form a new group known as New BrightSource Energy LTD. Izik Kirshenbaum leads the new group with Israeli and British leadership.
In May 2022, the General Office of State Council, China released a new for Development of New Energy Implementation Plan. The plan promotes the development of solar power generation projects in the country. This aims to encourage the solar power generation as peak power generation model in West and other areas of China with good solar conditions.
Components Covered:
• Solar Field
• Thermal Energy Storage System
• Power Block
• Other Components
Technologies Covered:
• Solar Power Tower
• Parabolic Trough
• Linear Fresnel Reflectors
• Other Technologies
End Users Covered:
• Industrial
• Non-Residential
• Utilities
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Concentrated Solar Power Market, By Component
5.1 Introduction
5.2 Solar Field
5.3 Thermal Energy Storage System
5.4 Power Block
5.5 Other Components
6 Global Concentrated Solar Power Market, By Technology
6.1 Introduction
6.2 Solar Power Tower
6.3 Parabolic Trough
6.4 Linear Fresnel Reflectors
6.5 Other Technologies
7 Global Concentrated Solar Power Market, By End User
7.1 Introduction
7.2 Industrial
7.3 Non-Residential
7.4 Utilities
7.5 Other End Users
8 Global Concentrated Solar Power Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Aalborg CSP A/S
10.2 Abengoa Solar, S.A
10.3 Archimede Solar Energy
10.4 Frenell GmbH
10.5 General Electric
10.6 GlassPoint Solar
10.7 Siemens AG
10.8 Solarreserve, LLC
10.9 Torresol Energy, Brightsource Energy, Inc
10.10 TSK Flagsol Engineering GmbH
List of Tables
1 Global Concentrated Solar Power Market Outlook, By Region (2022-2030) ($MN)
2 Global Concentrated Solar Power Market Outlook, By Component (2022-2030) ($MN)
3 Global Concentrated Solar Power Market Outlook, By Solar Field (2022-2030) ($MN)
4 Global Concentrated Solar Power Market Outlook, By Thermal Energy Storage System (2022-2030) ($MN)
5 Global Concentrated Solar Power Market Outlook, By Power Block (2022-2030) ($MN)
6 Global Concentrated Solar Power Market Outlook, By Other Components (2022-2030) ($MN)
7 Global Concentrated Solar Power Market Outlook, By Technology (2022-2030) ($MN)
8 Global Concentrated Solar Power Market Outlook, By Solar Power Tower (2022-2030) ($MN)
9 Global Concentrated Solar Power Market Outlook, By Parabolic Trough (2022-2030) ($MN)
10 Global Concentrated Solar Power Market Outlook, By Linear Fresnel Reflectors (2022-2030) ($MN)
11 Global Concentrated Solar Power Market Outlook, By Other Technologies (2022-2030) ($MN)
12 Global Concentrated Solar Power Market Outlook, By End User (2022-2030) ($MN)
13 Global Concentrated Solar Power Market Outlook, By Industrial (2022-2030) ($MN)
14 Global Concentrated Solar Power Market Outlook, By Non-Residential (2022-2030) ($MN)
15 Global Concentrated Solar Power Market Outlook, By Utilities (2022-2030) ($MN)
16 Global Concentrated Solar Power Market Outlook, By Other End Users (2022-2030) ($MN)
17 North America Concentrated Solar Power Market Outlook, By Country (2022-2030) ($MN)
18 North America Concentrated Solar Power Market Outlook, By Component (2022-2030) ($MN)
19 North America Concentrated Solar Power Market Outlook, By Solar Field (2022-2030) ($MN)
20 North America Concentrated Solar Power Market Outlook, By Thermal Energy Storage System (2022-2030) ($MN)
21 North America Concentrated Solar Power Market Outlook, By Power Block (2022-2030) ($MN)
22 North America Concentrated Solar Power Market Outlook, By Other Components (2022-2030) ($MN)
23 North America Concentrated Solar Power Market Outlook, By Technology (2022-2030) ($MN)
24 North America Concentrated Solar Power Market Outlook, By Solar Power Tower (2022-2030) ($MN)
25 North America Concentrated Solar Power Market Outlook, By Parabolic Trough (2022-2030) ($MN)
26 North America Concentrated Solar Power Market Outlook, By Linear Fresnel Reflectors (2022-2030) ($MN)
27 North America Concentrated Solar Power Market Outlook, By Other Technologies (2022-2030) ($MN)
28 North America Concentrated Solar Power Market Outlook, By End User (2022-2030) ($MN)
29 North America Concentrated Solar Power Market Outlook, By Industrial (2022-2030) ($MN)
30 North America Concentrated Solar Power Market Outlook, By Non-Residential (2022-2030) ($MN)
31 North America Concentrated Solar Power Market Outlook, By Utilities (2022-2030) ($MN)
32 North America Concentrated Solar Power Market Outlook, By Other End Users (2022-2030) ($MN)
33 Europe Concentrated Solar Power Market Outlook, By Country (2022-2030) ($MN)
34 Europe Concentrated Solar Power Market Outlook, By Component (2022-2030) ($MN)
35 Europe Concentrated Solar Power Market Outlook, By Solar Field (2022-2030) ($MN)
36 Europe Concentrated Solar Power Market Outlook, By Thermal Energy Storage System (2022-2030) ($MN)
37 Europe Concentrated Solar Power Market Outlook, By Power Block (2022-2030) ($MN)
38 Europe Concentrated Solar Power Market Outlook, By Other Components (2022-2030) ($MN)
39 Europe Concentrated Solar Power Market Outlook, By Technology (2022-2030) ($MN)
40 Europe Concentrated Solar Power Market Outlook, By Solar Power Tower (2022-2030) ($MN)
41 Europe Concentrated Solar Power Market Outlook, By Parabolic Trough (2022-2030) ($MN)
42 Europe Concentrated Solar Power Market Outlook, By Linear Fresnel Reflectors (2022-2030) ($MN)
43 Europe Concentrated Solar Power Market Outlook, By Other Technologies (2022-2030) ($MN)
44 Europe Concentrated Solar Power Market Outlook, By End User (2022-2030) ($MN)
45 Europe Concentrated Solar Power Market Outlook, By Industrial (2022-2030) ($MN)
46 Europe Concentrated Solar Power Market Outlook, By Non-Residential (2022-2030) ($MN)
47 Europe Concentrated Solar Power Market Outlook, By Utilities (2022-2030) ($MN)
48 Europe Concentrated Solar Power Market Outlook, By Other End Users (2022-2030) ($MN)
49 Asia Pacific Concentrated Solar Power Market Outlook, By Country (2022-2030) ($MN)
50 Asia Pacific Concentrated Solar Power Market Outlook, By Component (2022-2030) ($MN)
51 Asia Pacific Concentrated Solar Power Market Outlook, By Solar Field (2022-2030) ($MN)
52 Asia Pacific Concentrated Solar Power Market Outlook, By Thermal Energy Storage System (2022-2030) ($MN)
53 Asia Pacific Concentrated Solar Power Market Outlook, By Power Block (2022-2030) ($MN)
54 Asia Pacific Concentrated Solar Power Market Outlook, By Other Components (2022-2030) ($MN)
55 Asia Pacific Concentrated Solar Power Market Outlook, By Technology (2022-2030) ($MN)
56 Asia Pacific Concentrated Solar Power Market Outlook, By Solar Power Tower (2022-2030) ($MN)
57 Asia Pacific Concentrated Solar Power Market Outlook, By Parabolic Trough (2022-2030) ($MN)
58 Asia Pacific Concentrated Solar Power Market Outlook, By Linear Fresnel Reflectors (2022-2030) ($MN)
59 Asia Pacific Concentrated Solar Power Market Outlook, By Other Technologies (2022-2030) ($MN)
60 Asia Pacific Concentrated Solar Power Market Outlook, By End User (2022-2030) ($MN)
61 Asia Pacific Concentrated Solar Power Market Outlook, By Industrial (2022-2030) ($MN)
62 Asia Pacific Concentrated Solar Power Market Outlook, By Non-Residential (2022-2030) ($MN)
63 Asia Pacific Concentrated Solar Power Market Outlook, By Utilities (2022-2030) ($MN)
64 Asia Pacific Concentrated Solar Power Market Outlook, By Other End Users (2022-2030) ($MN)
65 South America Concentrated Solar Power Market Outlook, By Country (2022-2030) ($MN)
66 South America Concentrated Solar Power Market Outlook, By Component (2022-2030) ($MN)
67 South America Concentrated Solar Power Market Outlook, By Solar Field (2022-2030) ($MN)
68 South America Concentrated Solar Power Market Outlook, By Thermal Energy Storage System (2022-2030) ($MN)
69 South America Concentrated Solar Power Market Outlook, By Power Block (2022-2030) ($MN)
70 South America Concentrated Solar Power Market Outlook, By Other Components (2022-2030) ($MN)
71 South America Concentrated Solar Power Market Outlook, By Technology (2022-2030) ($MN)
72 South America Concentrated Solar Power Market Outlook, By Solar Power Tower (2022-2030) ($MN)
73 South America Concentrated Solar Power Market Outlook, By Parabolic Trough (2022-2030) ($MN)
74 South America Concentrated Solar Power Market Outlook, By Linear Fresnel Reflectors (2022-2030) ($MN)
75 South America Concentrated Solar Power Market Outlook, By Other Technologies (2022-2030) ($MN)
76 South America Concentrated Solar Power Market Outlook, By End User (2022-2030) ($MN)
77 South America Concentrated Solar Power Market Outlook, By Industrial (2022-2030) ($MN)
78 South America Concentrated Solar Power Market Outlook, By Non-Residential (2022-2030) ($MN)
79 South America Concentrated Solar Power Market Outlook, By Utilities (2022-2030) ($MN)
80 South America Concentrated Solar Power Market Outlook, By Other End Users (2022-2030) ($MN)
81 Middle East & Africa Concentrated Solar Power Market Outlook, By Country (2022-2030) ($MN)
82 Middle East & Africa Concentrated Solar Power Market Outlook, By Component (2022-2030) ($MN)
83 Middle East & Africa Concentrated Solar Power Market Outlook, By Solar Field (2022-2030) ($MN)
84 Middle East & Africa Concentrated Solar Power Market Outlook, By Thermal Energy Storage System (2022-2030) ($MN)
85 Middle East & Africa Concentrated Solar Power Market Outlook, By Power Block (2022-2030) ($MN)
86 Middle East & Africa Concentrated Solar Power Market Outlook, By Other Components (2022-2030) ($MN)
87 Middle East & Africa Concentrated Solar Power Market Outlook, By Technology (2022-2030) ($MN)
88 Middle East & Africa Concentrated Solar Power Market Outlook, By Solar Power Tower (2022-2030) ($MN)
89 Middle East & Africa Concentrated Solar Power Market Outlook, By Parabolic Trough (2022-2030) ($MN)
90 Middle East & Africa Concentrated Solar Power Market Outlook, By Linear Fresnel Reflectors (2022-2030) ($MN)
91 Middle East & Africa Concentrated Solar Power Market Outlook, By Other Technologies (2022-2030) ($MN)
92 Middle East & Africa Concentrated Solar Power Market Outlook, By End User (2022-2030) ($MN)
93 Middle East & Africa Concentrated Solar Power Market Outlook, By Industrial (2022-2030) ($MN)
94 Middle East & Africa Concentrated Solar Power Market Outlook, By Non-Residential (2022-2030) ($MN)
95 Middle East & Africa Concentrated Solar Power Market Outlook, By Utilities (2022-2030) ($MN)
96 Middle East & Africa Concentrated Solar Power Market Outlook, By Other End Users (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY

We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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