Concentrated Solar Power (CSP) Market Demand, Status and Business Growth Outlook 2020 to 2025

Global Concentrated Solar Power (CSP) Market 2020-2025 is a comprehensive report which provides a detailed overview of the major driver, opportunities, challenges, current market trends and strategies impacting the Global Concentrated Solar Power (CSP) market in conjunction with calculation and forecast of size, share, and growth rate analysis. Combining the analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the Concentrated Solar Power (CSP) market all told its geographical and merchandise segments.

The global concentrated solar power (CSP) market is expected to grow at a CAGR of more than 4% during the forecast period.

The Global Concentrated Solar Power (CSP) market is highly competitive and consists of a number of major players. Companies like Abengoa SA, Acciona SA, ACWA Power, Brightsource Energy Inc., Engie SA, SolarReserve LLC, eSolar Inc., Torresol Energy among others.

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Scope of the Report:

As of 2018, the global installed capacity of concentrated solar power market was approximately 5.46 GW. Factors such as the declining cost of CSP components are likely to drive the concentrated solar power market during the forecast period. However, a rapid decline in installation costs of solar photovoltaic (PV) plants, coupled with increased capacity factors, has improved the economic competitiveness of solar photovoltaic (PV) projects, worldwide. This makes CSP less lucrative when compared to solar PV, due to several drawbacks, including high CAPEX, OPEX, and its limitation to utility-scale. This is expected to hinder the market for CSP during the forecast period.
– The molten salt technology accounts for 75% of the thermal energy storage developed for electricity applications worldwide. These applications also support CSP projects and dispatch electricity outside peak sunshine hours. This heat transfer fluid technology is expected to dominate the market during the forecast period.
– Middle-East and Africa is expected to provide more opportunity for the CSP market in the near future. This is due to the planned investment which is focused on mobilizing concessional financing and grants to help CSP scale up in the region.

Key Market Trends:

Molten Salt to Dominate the Market

– Molten salts of sodium and potassium are used as heat transfer fluid in CSP plants, due to their capability to operate at temperatures beyond 500?C, improve power efficiency to about 40%, and reduce the levelised cost of electricity (LCOE). However, due to the high freezing point of about 250C, a high amount of auxiliary power is required during shut-off periods, to keep them in the molten state.
– Molten salts also possess corrosive nature, and hence, expensive operational machinery and system engineering (in terms of piping, pumps, etc.) are required for efficient operation.
– Molten salt technology accounts for 75% of the thermal energy storage developed for electricity applications across the world. These applications also support CSP projects and dispatch electricity outside peak sunshine hours.
– China is likely to be the biggest upcoming market for molten salt storage. The country is taking a major interest in CSP development. It has joined forces with companies bidding in the Middle-East and is expected to install 1.3 GW of CSP across 21 projects in the country in the next few years. These projects are likely to give China the required expertise it needs to install a total of 5 GW of CSP capacity by 2020.
– In 2018, the second phase of the Shouhang Dunhuangs 100 MW molten salt CSP tower project was commissioned. The second phase of the project owns the title of the world’s largest stand-alone solar field, with over 10,000 heliostats.
– Hence, the molten salt heat transfer fluid is expected to drive the market for concentrated solar power during the forecast period.

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The key insights of the Concentrated Solar Power (CSP) Market report:

  • The report provides key statistics on the market status of the Concentrated Solar Power (CSP) market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
  • The report provides a basic overview of the industry including its definition, applications, and manufacturing technology.
  • The Concentrated Solar Power (CSP) market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
  • The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
  • The report estimates 2020-2025 market development trends of the Concentrated Solar Power (CSP) Market.
  • Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
  • The report makes some important proposals for a new project of the Concentrated Solar Power (CSP) Industry before evaluating its feasibility.

Finally, Concentrated Solar Power (CSP) Market report is the believable source for gaining market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure, and so on. Concentrated Solar Power (CSP) industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Key points in this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

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