Global Concentrating Solar Power Systems Market to Expand Swiftly due to Growing Commercialization of CSP


Published Date : Mar 21, 2016

ALBANY, New York, March 21, 2016 - MarketResearchReports.biz has announced the addition of a report, titled ‘Global Concentrating Solar Power Systems Market - Industry Analysis, Size, Share, Growth, Trends, And Forecast 2016-2021,’ to its online repository. According to the report, the global concentrating solar power (CSP) systems market is expected to progress at a remarkable rate during the period from 2016 to 2021 due to the growing commercialization of CSP in developing nations across the globe.

Concentrating solar power systems, or concentrated solar power systems, generate solar power via lenses or mirrors to concentrate solar thermal energy onto a small area. When the concentrated sunlight is converted into heat, electricity is generated, which drives a heat engine that is connected to an electric power generator. Concentrating solar power is being widely commercialized. The growing applications of concentrating solar power across various industries are predicted to propel this market in the years to come.

Concentrating technologies exist in various forms such as parabolic trough, dish Stirling, enclosed trough, solar power tower, and concentrating linear Fresnel reflector. Different varieties of concentrators produce various peak temperatures and correspondingly differing thermodynamic efficiencies. Innovations and technological advancements in concentrating solar power systems are expected to make them more cost-effective in the coming years. The increasing commercial deployment of CSP is expected to boost the global concentrating solar power systems market.

The introduction of new forms of concentrating solar power systems for both commercial and academic projects and for off-grid applications is predicted to contribute towards the growth of the global concentrating solar power systems market in the next few years. The global concentrating solar power systems market is segmented on the basis of geography and application. Based on geography, the global concentrating solar power systems market is divided into Asia (except China), North America, China, and EMEA. The growth of concentrating solar power systems is noticeable in India and China as numerous companies are trying to introduce new CSP systems. With increasing participation from new entrants, the global concentrating solar power systems market is expected to reach new heights in the next few years.

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Novel improvements in concentrating solar power systems by leading players from across all regions are predicted to propel the global concentrating solar power systems market in the years to come. Leading players are expected to do well in the global concentrating solar power systems market in the years to come as CSP leverages existing steam-based electrical power generation capacity and integrates molten salt storage technologies. The global market for concentrating solar power systems is expected to register major contribution from new entrants, thus making it more competitive for leading players in the next few years.

Concentrating solar power (CSP) is one of the many preferred ways of producing solar electricity. The global concentrating solar power systems market is expected to explode irrespective of environmental oppositions to the technology. CSP solar energy is one of the most sustainable and promising renewable energy forms. Concentrating solar power systems feature both, competitive energy prices and high performance, placing the market firmly on the growth track.

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