MEA Concentrated Solar Power (CSP) Market size is expected to grow significantly from 2021 to 2027, according to a latest forecast report by Graphical Research.
Middle East & Africa CSP industry growth is driven by ongoing investment across sustainable development along with paradigm shift toward green energy alternatives. In addition, high carbon-cutting emission targets in line with increased demand for electricity will propel the business landscape. Furthermore, ongoing investment to build renewable energy sources along with favorable schemes as well as monetary funds will in turn positively impact the market size.
≤50 MW CSP market will grow owing to ability of these units to complement industrial process heat systems, including coal and oil-fired boilers as a measure toward reduction of fossil fuel consumption. Strict environmental regulations along with growing efforts toward carbon reduction will further stimulate the industry growth. For instance, in 2020, Abengoa completed installation of three 200 MW parabolic trough plants in Mohammed Bin Rashid Al Maktoum Solar Park. In addition, increasing number of CSP plants across the region along with paradigm shift toward renewable power generation sources will drive the industry scenario.
With storage based concentrated solar power industry will observe remarkable growth owing to the growing requirement for cost-efficient technology to store energy driven by the increasing penetration of renewables into the energy mix. In addition, primary factors which will further boost industry growth are higher capacity utilization factor (CUF), lower LCOE and increased overall plant efficiency.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
Ongoing investment to build renewable energy sources and favorable attractive schemes as well as monetary funds, the Power Tower CSP sector will see substantial growth in application and adoption. Moreover, technical adoption of two-axis solar heliostat monitoring systems will increase operator’s ability to achieve higher working temperatures, efficiency, and electricity usage.
Morocco CSP market will witness an appreciable rise till 2027 on account of lower component production costs, economic capital, and high solar irradiance levels. Growing inclination toward high carbon-cutting targets in line with increasing demand for electricity will further sway the market demand. For instance, in June 2019, ACWA power completed the construction of 200 MW NOORO II and NOORO III CSP projects situated in Morocco. This project is developed under Ouarzazate Solar Complex which is the second project for the Moroccan Solar Energy Agency (MASEN). Increasing number of CSP plants across the region along with paradigm shift toward renewable power generation sources will drive the industry landscape.
Major manufacturers across the region are GE Renewable Energy, ACCIONA Energy, Abengoa Solar, Chiyoda Corporation, ACWA Power, Suntrace, Eastman Therminol, BrightSource Energy, Shams Power and SolarReserve.
MEA 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:
Middle East & Africa Market, By Technology
- Parabolic Trough
- Linear Fresnel Reflector
- Power Tower
Middle East & Africa Market, By Capacity
- ≤50 MW
- >50≤100 MW
- >100 MW
Middle East & Africa Market, By Storage
- With Storage
- Without Storage
The above information has been provided for the following countries:
- Middle East & Africa
- South Africa