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APAC Concentrated Solar Power (CSP) Market size to register tremendous growth through 2027
Published Date: 2021-03-22
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APAC Concentrated Solar Power Market size is estimated to see a significant surge between 2021 and 2027, according to a latest forecast report by Graphical Research.
Asia Pacific industry growth is owing to increasing government electrification programs along with rising proportion of renewable energy. Strict government norms to restrain the increasing carbon footprint coupled with rising infrastructural expenditure will foster the industry landscape. Strong solar projects pipeline across the emerging economies will energize the business scenario.
The linear fresnel reflector technology segment is projected to grow at a lucrative CAGR till 2027 due to its key benefits including easy assemble process and low installation cost. The product integrates vital features comprising economical flat glass mirrors and lesser amount of concrete support structure & steel which in turn will boost the technological demand. Stringent environmental regulations to promote the adoption of renewable energy resources will favor the market outlook.
CSP technology without storage will remain competitive in the industry owing to its reduced complexity and minimal capital expenditure. Shifting focus toward installation of without storage CSP plants due to high power reliability and enhanced capacity utilization will augment the business landscape. Ongoing technological change to minimize the CapEx on account of relatively cheaper flat glass mirrors and standard mass-produced commodity will drive the product adoption.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
> 50 to ≤ 100 MW rated concentrated solar power market is expected to observe substantial growth through 2027 impelled by rising demand for clean energy along with increasing electricity consumption. Ongoing technology enhancement to deploy gas-based turbines across the CSP power plant to generate power at an efficient rate will energize the industry dynamics. Stringent government regulations to increase the renewable power across the energy mix will fuel the industry demand.
Surging investments toward sustainable development coupled with paradigm shift toward green energy alternatives will positively impact the India CSP market. The demand to generate renewable power energy to favor stringent energy-efficient policies is strengthening the industry growth in the region. Despite of COVID-19 impact, majority of projects including the development of power towers and parabolic trough solar power plants are as scheduled and have not witnessed significant delay.
Major players operational across the market include TSK Flagsol Engineering, Abengoa Solar, GE Renewable Energy, Acciona Energy, Suntrace GmbH, Enel Green Power, BrightSource Energy, Shams Power, Chiyoda Corporation and Therminol. Key participants across the region are aiming to introduce advance technologies acquisitions, mergers and forming strategic alliances to sustain their position in the market.
The APAC concentrated solar power market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” and “USD” from 2016 to 2027, for the following segments:
Asia Pacific Market, By Technology
- Parabolic Trough
- Linear Fresnel Reflector
- Power Tower
Asia Pacific Market, By Capacity
- ≤50 MW
- >50≤100 MW
- >100 MW
Asia Pacific Market, By Storage
- With Storage
- Molten Salt
- Without Storage
The above information has been provided for the following countries:
- Asia Pacific