Concentrated Solar Power Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report, 2025
“The scope of the global Concentrated Solar Power Market was appreciated at US$ 3.03 billion during 2016 and is expected to reach US$ 8.92 billion by the completion of 2025.”
The global Concentrated Solar Power Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The scope of the global Concentrated Solar Power Market was appreciated at US$ 3.03 billion during 2016 and is expected to reach US$ 8.92 billion by the completion of 2025. It is expected to witness a CAGR of 12.7% during the forecast period due to the crunch of electricity together with lessening resources of nonconventional energy for the generation of electricity. Drivers and Restraints: Stringent rules by the governments to limit the growing carbon impression together with financial paybacks are expected to increase the acceptance of different sources of energy in the concentrated solar power market. The request for thermal energy storage to upsurge the operation time of concentrated solar power is one of the most important factors motivating the development of market. These plants can merely generate power from sunrise to sunset. The technology of Thermal Energy Storage (TES) permits storage of the thermal energy composed during the daytime from these concentrated solar power plants, and it is used to generate power after the sunset. This increases the operative time span of the concentrated solar power plants. These plants are being fitted along with Thermal Energy Storage (TES) technology to upsurge the rating of capability factor. This is likely to deliver the most important improvement with regards to the acceptance of concentrated solar power as a principal basis for the generation of electricity.