12/11/2022 0 Comments 2020 predictions ge power utility dive![]() Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of upsurge in installations of concentrated solar power plants in the region. “Asia Pacific represents as the largest market in the Global Concentrating Solar Power Market.”įor a better understanding of the market adoption of Concentrating Solar Power, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to the favorable government initiatives and regulations on increasing the adoption of renewable energy sources. The Utilities segment generated revenue of USD XX billion in 2020. “Amongst End User type, Utilities segment dominated the market in 2020.”īased on End user type, the market is classified into Utilities, EOR, and Others (Others include process heating, mining industry operations, desalination, and district heating). This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of high & reliable power requirements & to maintain efficiency in the plant operation. In 2020, the 100 MW and above segment dominated the Concentrating Solar Power Market and accounted for XX% market share. “Amongst Capacity, 100 MW and above segment dominated the market in 2020.”īased on capacity, the market is segmented into Less than 50 MW, 50 MW to 99 MW & 100 MW and above. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) on account of its Lower Levelized Cost of Electricity (LCOE), higher Capacity Utilization Factor (CUF), and high overall plant efficiency. In 2020, the With Storage segment dominated the Concentrating Solar Power Market and accounted for XX% market share. “Amongst Operation type, With Storage segment dominated the market in 2020.”īased on operation type, the market is segmented into Stand-alone Systems, & With Storage. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to their strong concentration of radiation which can generate temperatures in excess of 1000 ☌ at the receiver. The Solar Power Tower segment grabbed XX% market share of the Global Concentrating Solar Power Market and gathered revenue of USD XX billion in 2020. “Amongst technology, Solar Power Tower segment holds the major share.”īased on technology, the market is segmented into Solar Power Tower, Linear Fresnel, Parabolic Trough and Stirling Dish technology. Several M&As along with partnerships have been undertaken by these players to facilitate countries with more innovative Concentrating Solar Power applications. are some of the prominent players operating in the Global Concentrating Solar Power Market. The Global Concentrating Solar Power Market is experiencing significant growth due to increasing environmental concerns over carbon emission, policy support from government to adopt renewable technologies, and rise in energy demand along with their inherent thermal storage capacity are the key factors complementing the Concentrating Solar Powers market.Ībengoa, S.A., BrightSource Energy, Inc., Aalborg CSP, Siemens Energy, Acciona, S.A. After modest activity in 20 – with annual additions hovering around 100 MW per year – the global market for CSP grew in 20. As per IRENA, Cumulative CSP installed capacity grew just over five-fold, globally, between 20, reaching around 6.5 GW at the end of 2020. The main difference to a conventional steam power plant is the solar field, which supplies the heat for the steam generator. Since steam turbines can only be operated economically above a certain minimum size, today’s solar thermal power plants have rated outputs in the range of 50 to 200 megawatts. Often, a two-tank molten salt storage system is used, but designs vary. CSP plants can also have thermal storage systems. In the majority of today’s systems, the sun’s energy is transferred to a fluid, which in turn is passed through heat exchangers to run a traditional electricity steam cycle, similar to the one used in conventional thermal power plants. Report Description Concentrating Solar Power MarketĬoncentrating Solar Power Market was valued at US$ 5 billion in 2020 and is expected to grow at a CAGR of 12% over the forecast period (2021-2027).Concentrating solar power (CSP) relies on concentrating the sun’s rays through the use of mirrors to create high temperature heat to drive a steam turbine. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |