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$10.96 Billion - Solar Power Market 2017

February 22, 2017


Research and Markets has announced the addition of the "Concentrating Solar Power Market by Technology (Parabolic Trough, Power Tower, Linear Fresnel & Dish/Engine system), Components (Solar field, Power Block, and Thermal Storage), End-User (Utilities, EOR & Others), and Region - Global Forecast to 2021" report to their offering.

The global concentrating solar power market is projected to grow at a CAGR of 10.3% from 2016 to 2021, to reach a market size of USD 10.96 Billion by 2021.

The growth is attributed to growing environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies and dispatchability of power.

The report segments the concentrating solar power market based on end-users into utilities, enhanced oil recovery and others (mining & desalination). Utilities segment is the largest end-user of concentrating solar power owing to the growing number of medium to large scale projects under development and in pipeline across the globe.

Based on technology, the parabolic trough segment is expected to dominate the concentrating solar power market during the forecast period.

The market has also been segmented based on the components into three sub-segments: solar field, power block and thermal storage.

The solar field segment is the largest market; due to large number of complex and costly subcomponents within the segment.

Market Dynamics


Growing Environmental Concerns Over Carbon Emissions and Efforts to Reduce Air Pollution
Policy Support From Governments to Enable Adoption of Renewable Technologies
The Ability to Supply Dispatchable Power


Higher Cost of Generation Compared to Other Renewable Technologies


Application in Hybrid Power Plants
Mining Industry Investing in Renewables
Applications in Desalination and Enhanced Oil Recovery


Land and Water Requirements
Technical Challenges

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