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Asia Pacific Concentrated Solar Power Market Size By Capacity (≤ 50 MW, > 50 MW to ≤ 100 MW, > 100 MW), By Technology (Parabolic Trough, Linear Fresnel Reflector, Power Tower), By Storage (With Storage, Without Storage), Country Outlook (China, India, Australia) Research Report, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027
Published Date: March 2021 | Publisher: Graphical Research Report ID: GR1720 | Delivery : PDF  Request Free Sample

Asia Pacific Concentrated Solar Power Market size is projected to witness substantial growth from 2021 to 2027 on account of rising demand for clean energy resources along with large scale grid integration of renewable sources. Increasing power demand in line with extensive funding toward the adoption of solar power generation projects has instituted a favorable industry scenario. Rising environmental concerns toward limiting carbon emission coupled with favorable government norms for adoption of green energy alternatives will augment the market landscape.

APAC Market, By Technology

Power tower technology segment is anticipated to grow exponentially during the forecast timeframe owing to its advanced features including its capability to achieve higher operating temperatures and high thermal energy storage. Wide scale adoption of two-axis tracking technology to offer longer production time & high operational efficiency is set to drive the product penetration. Strict government regulations along with increasing government efforts to promote renewable energy will further stimulate the product penetration.

APAC Market, By Capacity

Surging investment toward construction of large solar power plants coupled with decline in CSP associated capital expenditure will fuel the demand of > 100 MW capacity concentrated solar power plants. Increasing applicability of large capacity CSP power plants to produce electricity, high temperature steam and heat storage systems will in turn accelerate the business growth. Furthermore, industrial focus toward adoption of renewable energy efficient systems will fuel the industry potential.

APAC Market, By Storage

Ongoing technological advancements including heat transfer ability of storage salts and surging adoption of effective heat and thermal storage systems across the renewable power plants is set to boost the CSP with storage market. The product integrates key advantages including Lower Levelized Cost of Electricity and higher Capacity Utilization Factor. The regional economy is at a standstill from COVID-19 and its uncommon effect of this health crisis on companies from all divisions.

APAC Market, By Country

China concentrated solar power (CSP) industry will gain an appreciable momentum through 2027 on account of increasing investments toward sustainable development for stabilizing power grid and shifting focus toward adoption of green energy alternatives. Growing installations of solar power plants coupled with increasing number of renewable projects will positively sway the product demand. Rising government focus to increase the sustainable energy across the energy mix will further amplify the market scenario.

Competitive Industry Landscape

Prominent participants operating across Asia Pacific market include Abengoa Solar, TSK Flagsol Engineering, Acciona Energy, GE Renewable Energy, Enel Green Power, Suntrace GmbH, Shams Power, BrightSource Energy, Therminol, and Chiyoda Corporation. Product integrated R&D investments and bulk manufacturing practices are the key strategies adopted by the major players.

Frequently Asked Question(FAQ) :

The industry for concentrated solar power in Asia Pacific is expected to grow at a significant rate through 2027 driven by the growing demand for clean energy resources and the large-scale grid integration of renewable sources.
The regional industry size from the power tower technology segment will grow exponentially due to the higher operating temperatures and thermal energy storage offered by the technology.
The regional market for 100 MW capacity concentrated solar power will record a substantial revenue share in the coming years owing to the surge in the number of investments toward large solar power plant construction.
China industry size will garner considerable momentum through 2027 with increasing investments toward sustainable development for stabilizing the power grids and higher adoption of green energy alternatives.

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