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Middle East & Africa Concentrated Solar Power Market Size By Storage (With Storage, Without Storage), By Technology (Parabolic Trough, Linear Fresnel Reflector, Power Tower), By Capacity (≤ 50 MW, > 50 to ≤ 100 MW, > 100 MW), Research Report, Country Outlook (UAE, Saudi Arabia, Morocco, Israel), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027
Published Date: February 2021 | Publisher: Graphical Research Report ID: GR1665 | Delivery : PDF  Request Free Sample

Middle East & Africa Concentrated Solar Power Market size is expected to observe significant growth rate from 2021 to 2027 on account of stringent government norms & policies along with declining levelized cost of energy. Rising energy demand coupled with large-scale investments toward the deployment of solar power generation projects has instituted a favorable business scenario. In addition, effective energy utilization policies have drifted regulatory and consumer tendencies toward the adoption of solar technologies, which will augment the market expansion.

MEA Market, By Technology

Power tower CSP industry is set to grow exponentially through 2027 due to the ability of this technology to achieve higher operating temperatures coupled with application of two axis solar tracking heliostats. Stringent environmental norms coupled with ongoing government efforts toward promotion of renewable energy will further boost the technology adoption.

MEA Market, By Capacity

> 100 MW capacity based concentrated solar power industry will register high growth during the forecast period led by lower specific cost driven by economies of scale. In addition, larger size implies large reflective surface which in turn will lead to a higher operating temperature improving the thermodynamic effectiveness of the plant. Moreover, industrial tendency toward deployment of renewable energy efficient systems will complement the technology penetration.

MEA Market, By Storage

Over the continued effort by respective governments to achieve the renewable energy targets together with relatively lower capital expenditure will drive the without storage segment. According to IRENA, improved thermal storage ability over 4 hours has resulted in decline of 35% in capital expenditure. Ongoing technological advancements along with increasing investment across R&D sector to deploy advanced solar thermal storage units will fuel the market demand.

MEA Market, By Country

UAE CSP market is estimated to witness an upsurge in the coming years impelled by increased demand for consistent power generation technologies followed by decline in levelized cost of energy. Furthermore, implementing stringent energy-efficient policies in line with government’s focus toward achieving renewable energy installation targets will continue to propel the technology deployment.

COVID-19 has affected the market on account of decline in project pipeline followed by delay in raw material supplies across the region. As per the market update, there is a pin-point breakdown of the industry Furthermore, applicability of smart units driven by cost intensity will reinforce the industry scenario.

Competitive Industry Landscape

Eminent players operating across the market includes, ABENGOA Solar, Acciona Energy, Suntrace, BrightSource Energy, GE Renewable Energy, Shams Power, SolarReserve, Chiyoda Corporation, Eastman Therminol and ACWA Power amongst others.
 

Frequently Asked Question(FAQ) :

The market for CSP in the Middle East & Africa is slated to rise at a significant growth rate up to 2027 owing to severe government norms & policies and the decreasing levelized costs of energy.
The Middle East & Africa industry share from the power tower technology segment is poised to expand by 2027 with the extensive deployment to attain higher operating temperatures.
The > 100 MW concentrated solar power market size in MEA is estimated to register a substantial revenue share through 2027 driven by lower specific costs resulting from economies of scale.
UAE industry size is anticipated to witness significant inclination through 2027 due to the higher requirement for consistent power generation technologies.

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