Concentrated solar thermal energy is generation of heat or electricity via mirrors to concentrate the sunrays to the temperature varying between 400 and 1,000C. This energy is then usually employed to heat a fluid, mainly water or oil, which in turn produces steam or hot air. The steam produced is used to drive a turbine connected to a generator to generate electricity. There are different types of mirror shapes and sun-tracking methods to provide useful energy, but all of them work under a same principle of driving a heat engine to generate electricity that can then be fed into the grid. Thus, concentrated solar thermal energy is a carbon-free source of electricity and is best suited to regions with strong irradiation such as Southern Europe, Northern Africa and Middle East, South Africa, parts of India, China, Southern U.S., and Australia.
Increase in government support in adoption of renewable technologies coupled with rise in energy demand & capability to supply dispatch able power drives the market. Apart from that, growth in environmental issues based on carbon emissions results in focus to decrease air pollution as well as rise in awareness of global warming. These factors are also anticipated to support the expansion of the market. However, high cost incurred during concentrated solar thermal energy production hampers the market growth during the forecast period. Moreover, rise in investment from different industries in renewable sources and increase in acceptance of heat storage systems are the factors that represent great opportunities for the market.
The report segments the concentrated solar thermal market on the basis of technology, application, and geography. Based on technology, the market is divided into parabolic troughs, Fresnel systems, tower/heliostat systems, and parabolic dishes. On the basis of application, the concentrated solar thermal market is bifurcated into residential and industrial. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players provided in the report are:
- BrightSource Energy
- Directed Vapor
- GE Energy
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the global concentrated solar thermal market.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Detailed analysis of the industry based on the technology and application help understand the trending technology and potential application.
- Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.
Concentrated Solar Thermal Market Kry Segments:
- Parabolic Troughs
- Fresnel Systems
- Tower/Heliostat Systems
- Parabolic Dishes
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA