According to the research report titled ‘Concentrated Solar Power Market Size By Technology (Parabolic Trough, Linear Fresnel Reflector, Power Tower),By Capacity (?50 MW, >50?100 MW, >100 MW), By Storage(With Storage {Molten Salt, Others}, Without Storage), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Spain, Greece, China, India, Australia, Israel, UAE, Kuwait, Morocco, South Africa, Chile, and Brazil), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, the global concentrated solar power market is expected to surpass USD 4 billion by 2025.
 

Rising adoption of sustainable sources of energy and strict regulations pertaining to environmental conservation are driving the concentrated solar power market growth. Several organizations across the globe are introducing initiatives to reduce the carbon footprint. This factor along with strict emission reforms are further aiding the market expansion.
 

Growing demand for electricity and escalating investments towards improving efficiency index are fostering the demand for concentrated solar power systems. Surging preference for decentralized electricity production facilities is stimulating the industry outlook. However, high capital requirement for deployment of concentrated solar power systems as compared to solar photovoltaic projects may hinder the overall market growth.
 

In terms of technology, the report states that power tower segment is expected to register substantial growth in the forthcoming years. The technology offers high working temperature, low thermal loss and less energy transfer steps as compared to its counterparts. Rising adoption of efficient energy systems and favorable federal initiatives are prime factors fueling the segmental growth. Additionally, shifting focus towards thermal energy storage systems in consort with its superior suitability with power tower systems is favoring the market outlook.
 

Based on capacity, >100 MW concentrated solar power market segment is presumed to expand significantly during the forecast period. Low cost of the product and growing demand for electricity are contributing towards popularity of concentrated solar power systems with more than 100MW.
 

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As per regional analysis, the report cites that the concentrated solar power market in Middle East & Africa will witness lucrative growth in the subsequent years. Surging investments towards development of solar power infrastructure and increasing R&D activities by market majors are augmenting the regional demand.
 

Chiyoda Corp., Therminol, ACWA Power, SolarReserve LLC, Shams Power, Atlantica Yield PLC, CSP Services, BrightSource Energy Inc., Suntrace, Enel Green Power, TSK Flagsol Engineering GmbH, GE Renewable Energy, Acciona Energy and Abengoa Solar S.A. are the prominent companies operating in the concentrated solar power market.