Concentrating Solar Power Market Share

ID: MRFR/EnP/1572-HCR

110 Pages

Priya Nagrale

October 2025

Concentrated Solar Power Market Research Report By Technology (Parabolic Trough, Solar Power Tower, Linear Fresnel, Dish Stirling, Hybrid System), By Component (Solar Collector, Receiver, Heat Transfer Fluid, Thermal Storage System, Power Block), By Application (Electricity Generation, Industrial Process Heat, Desalination, Heating, Cooling), By End Use (Utility Scale, Commercial, Residential) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

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Market Share

Concentrating Solar Power Market Share Analysis

Giving users a great experience with things like easy-to-use platforms, real-time data insights, and dependable customer service builds brand trust and improves the image of the brand. When customers are happy, they spread good word of mouth, which increases the total market share. Companies strengthen their place as leading providers of CSP solutions in a market where user experience and support services are key to success by putting customer happiness first and adapting to the changing needs of investors, developers, and operators. Companies set the prices of their CSP systems in a way that shows how advanced they are technologically, how well they work, and how much they are worth overall. Companies can get a wide range of customers by offering reasonable prices or adding freedom, like project-specific solutions and finance choices. Companies that want to get and keep a big part of a market that changes quickly and cares about prices need to find the right mix between price and perceived value.

Companies that use eco-friendly materials, return their goods, and run their businesses in a way that uses little energy will attract investors and customers who care about the environment. When a brand supports environmental goals, it looks better and attracts people who care about green and responsible energy choices. Green buyers and project managers may buy from companies that sell themselves as leaders in renewable energy.

Market Highlights

Author

Priya Nagrale

Senior Research Analyst

With an experience of over five years in market research industry (Chemicals & Materials domain), I gather and analyze market data from diverse sources to produce results, which are then presented back to a client. Also, provide recommendations based on the findings. As a Senior Research Analyst, I perform quality checks (QC) for market estimations, QC for reports, and handle queries and work extensively on client customizations. Also, handle the responsibilities of client proposals, report planning, report finalization, and execution

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FAQs

What is the current valuation of the Concentrated Solar Power Market as of 2024?

The Concentrated Solar Power Market was valued at 6.91 USD Billion in 2024.

What is the projected market valuation for the Concentrated Solar Power Market in 2035?

The market is projected to reach a valuation of 32.09 USD Billion by 2035.

What is the expected CAGR for the Concentrated Solar Power Market during the forecast period 2025 - 2035?

The expected CAGR for the market during the forecast period 2025 - 2035 is 14.98%.

Which technology segment is anticipated to have the highest valuation in 2035?

The Solar Power Tower segment is projected to reach 9.5 USD Billion by 2035.

What are the key components driving the Concentrated Solar Power Market?

Key components include Solar Collectors, Receivers, and Thermal Storage Systems, with valuations expected to reach 6.9, 5.5, and 4.5 USD Billion respectively by 2035.

How does the electricity generation application segment perform in the market?

The Electricity Generation application segment is projected to grow to 9.45 USD Billion by 2035.

What end-use segment is expected to show significant growth by 2035?

The Residential end-use segment is anticipated to reach 13.19 USD Billion by 2035.

Who are the leading players in the Concentrated Solar Power Market?

Key players include Abengoa, BrightSource Energy, and Siemens, among others.

What is the projected valuation for the Hybrid System technology segment by 2035?

The Hybrid System technology segment is expected to reach 9.69 USD Billion by 2035.

What applications are driving demand in the Concentrated Solar Power Market?

Applications such as Industrial Process Heat and Cooling are projected to reach 6.25 and 7.0 USD Billion respectively by 2035.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per MRFR analysis, the Concentrated Solar Power Market Size was estimated at 6.91 USD Billion in 2024. The Concentrated Solar Power industry is projected to grow from 7.945 USD Billion in 2025 to 32.09 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 14.98 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Concentrated Solar Power Market is poised for substantial growth driven by technological advancements and supportive policies.

Technological advancements are enhancing the efficiency and cost-effectiveness of concentrated solar power systems.
North America remains the largest market, while Asia-Pacific is emerging as the fastest-growing region in this sector.
The parabolic trough segment continues to dominate, whereas the solar power tower segment is experiencing rapid growth.
Rising energy demand and government policies promoting renewable energy are key drivers propelling market expansion.

Concentrating Solar Power Market

CAGR

14.98%

Market Size & Forecast

2024 Market Size	6.91 (USD Billion)
2035 Market Size	32.09 (USD Billion)
CAGR (2025 - 2035)	14.98%
Largest Regional Market Share in 2024	Europe

Major Players

Abengoa (ES), BrightSource Energy (US), SolarReserve (US), Acciona (ES), Siemens (DE), Schneider Electric (FR), SENER (ES), Crescent Dunes Solar Energy Project (US), ENGIE (FR)

Market Trends

The Concentrated Solar Power Market is currently experiencing a transformative phase, driven by advancements in technology and increasing demand for renewable energy solutions. This sector utilizes mirrors or lenses to concentrate sunlight onto a small area, generating heat that can be converted into electricity. As global awareness of climate change intensifies, nations are prioritizing sustainable energy sources, leading to a surge in investments and projects within this market. The integration of energy storage systems is also becoming more prevalent, allowing for the dispatch of electricity even when sunlight is not available, thus enhancing the reliability of concentrated solar power systems. Moreover, the Concentrated Solar Power Market is witnessing a diversification of applications, extending beyond traditional electricity generation. Industries are exploring the potential of this technology for various uses, including desalination and industrial heating. This diversification indicates a broader acceptance of concentrated solar power as a versatile energy solution. As governments implement supportive policies and incentives, the market is likely to expand further, attracting new players and fostering innovation. The future of the Concentrated Solar Power Market appears promising, with ongoing research and development efforts aimed at improving efficiency and reducing costs, which could lead to wider adoption across different regions and sectors.

Technological Advancements

Recent innovations in concentrated solar power technology are enhancing efficiency and reducing costs. New materials and designs are being developed to improve heat absorption and energy conversion, making systems more competitive with other renewable sources.

Policy Support and Incentives

Governments worldwide are increasingly implementing policies that favor renewable energy, including concentrated solar power. These initiatives often include financial incentives, tax breaks, and grants, which encourage investment and development in the sector.

Diversification of Applications

The Concentrated Solar Power Market is expanding its reach beyond electricity generation. Industries are exploring applications such as water desalination and industrial heating, showcasing the versatility of this technology in addressing various energy needs.

Concentrating Solar Power Market Market Drivers

Rising Energy Demand

The increasing The Concentrated Solar Power Industry. As populations grow and economies expand, the need for sustainable energy sources intensifies. According to recent estimates, energy consumption is projected to rise by approximately 30% by 2040. This surge in demand necessitates the development of renewable energy solutions, with concentrated solar power emerging as a viable option. The ability of concentrated solar power systems to generate large amounts of electricity efficiently positions them favorably in the energy mix. Furthermore, the shift towards decarbonization and the reduction of fossil fuel dependency further propels the market forward, as stakeholders seek to invest in cleaner energy technologies.

Technological Innovations

Technological advancements play a crucial role in shaping the Concentrated Solar Power Market. Innovations in solar thermal technologies, such as improved heat transfer fluids and advanced mirror designs, enhance the efficiency and cost-effectiveness of concentrated solar power systems. For instance, the development of molten salt storage systems allows for energy generation even during non-sunny hours, thereby increasing the reliability of solar power. The market has witnessed a notable increase in the efficiency of solar collectors, with some systems achieving efficiencies exceeding 20%. These technological improvements not only reduce the levelized cost of electricity but also attract investments, thereby fostering growth in the industry.

Government Policies and Incentives

Supportive government policies and incentives are pivotal in driving the Concentrated Solar Power Market. Many countries have implemented favorable regulatory frameworks, including feed-in tariffs, tax credits, and renewable energy mandates, to encourage the adoption of renewable energy technologies. For example, several nations have set ambitious renewable energy targets, aiming for a significant percentage of their energy mix to come from solar sources by 2030. This policy support not only enhances the financial viability of concentrated solar power projects but also stimulates private sector investment. As a result, the market is likely to experience accelerated growth, with increased deployment of concentrated solar power plants.

Environmental Concerns and Sustainability

Growing environmental concerns and the push for sustainability are driving the Concentrated Solar Power Market. As climate change becomes an increasingly pressing issue, there is a collective urgency to transition to cleaner energy sources. Concentrated solar power offers a sustainable alternative to fossil fuels, significantly reducing greenhouse gas emissions. The industry is positioned to benefit from the global shift towards sustainable practices, as stakeholders prioritize investments in renewable energy. Furthermore, the potential for job creation in the renewable sector adds to its appeal, as communities seek economic opportunities aligned with environmental stewardship. This alignment of economic and environmental goals is likely to bolster the market.

Investment in Renewable Energy Infrastructure

Investment in renewable energy infrastructure is a significant driver for the Concentrated Solar Power Market. As countries strive to meet their energy needs sustainably, substantial capital is being allocated to develop solar power projects. Recent reports indicate that investments in renewable energy reached record levels, with billions of dollars directed towards solar technologies. This influx of capital not only facilitates the construction of new concentrated solar power plants but also supports research and development initiatives aimed at enhancing system performance. The growing interest from institutional investors and private equity firms further underscores the market's potential, as they seek to capitalize on the long-term benefits of renewable energy investments.

Market Segment Insights

Concentrated Solar Power Market Technology Insights

The Concentrated Solar Power Market focuses heavily on various technologies that drive its growth and sustainability. Among these technologies, the Parabolic Trough system stands out significantly, projected to achieve a valuation of 2.05 USD Billion in 2024, increasing to 5.5 USD Billion by 2035. This segment dominates due to its reliability and efficiency in converting solar energy into thermal energy, making it a preferred choice for large-scale power plants.

Another noteworthy technology is the Solar Power Tower, with expected valuations of 1.5 USD Billion in 2024 and growing to 4.0 USD Billion in 2035; this technology is vital for its ability to store energy, enabling power generation even when sunlight is not available.

Additionally, the Linear Fresnel technology, which is anticipated to be valued at 0.75 USD Billion in 2024 and rise to 2.0 USD Billion by 2035, offers a cost-effective solution with a simpler design and lower land requirements, thus supporting localized power generation projects.

Concentrated Solar Power Market Component Insight

The Concentrated Solar Power Market, particularly in the Component segment, is positioned for substantial growth and innovation as it addresses the evolving energy landscape. By 2024, the overall market is expected to be valued at USD 5.51 billion, reflecting a significant interest in renewable energy technologies. The segmentation within this market includes critical components such as Solar Collectors, Receivers, Heat Transfer Fluids, Thermal Storage Systems, and Power Blocks, each playing a vital role in the efficiency and effectiveness of concentrated solar power systems.

Solar Collectors are essential for harnessing solar energy, while Receivers are crucial for converting it into usable heat. Heat Transfer Fluids aid in transporting thermal energy to where it is needed, and Thermal Storage Systems are increasingly important for storing energy for later use, maximizing energy dispatchability. Meanwhile, Power Blocks convert thermal energy into electrical power, representing a key area of technological advancement in the industry. With a global push for sustainable energy transitioning, the emphasis on these components is expected to drive market dynamics, enhancing performance and efficiency across the board while catering to growing energy demands.

Concentrated Solar Power Market Application Insights

The Concentrated Solar Power Market is projected to reach a valuation of 5.51 billion USD by 2024, showcasing the market's robust growth driven by increasing demand for renewable energy applications. Within this market, the application segment plays a crucial role in various sectors, significantly bolstering the overall market growth. Electricity generation stands out as a prominent application, serving both residential and industrial needs by providing a sustainable alternative to fossil fuels. Industrial process heat is another important application, offering industries an efficient way to meet thermal energy requirements while reducing greenhouse gas emissions.

Desalination is gaining traction due to its ability to provide fresh water in arid regions, leveraging solar energy for sustainable water supply solutions. Furthermore, heating and cooling applications continue to evolve, enhancing energy efficiency in HVAC systems. Overall, the Concentrated Solar Power Market segmentation reflects a diverse range of applications that address energy needs while promoting environmental sustainability, aligning with global energy policies aiming for greater reliance on renewable energy sources.

Concentrated Solar Power Market End Use Insights

The Concentrated Solar Power Market is experiencing significant growth, driven by its diverse applications across various end-use sectors. In 2024, the market is valued at 5.51 USD Billion, highlighting the increasing demand for renewable energy solutions worldwide. The segmentation within the market comprises Utility Scale, Commercial, and Residential applications, each playing a critical role in the overall energy landscape. The Utility Scale segment is particularly impactful, providing large-scale energy production and contributing to national grid stability, while the Commercial sector focuses on business properties adopting solar technology to reduce energy costs and enhance sustainability.

The Residential segment also holds importance as more homeowners invest in solar solutions for energy independence and environmental benefits. A key driver for growth in the Concentrated Solar Power Market is the rising awareness and incentives for clean energy, although challenges such as initial investment costs and infrastructure development remain present. Overall, the market statistics show a robust trajectory, and the growth potential across these end-use applications reflects the ongoing global transition towards sustainable energy sources.

Get more detailed insights about Concentrated Solar Power Market Research Report - Global Forecast till 2035

Regional Insights

North America : Renewable Energy Leader

North America is witnessing significant growth in the Concentrated Solar Power (CSP) market, driven by increasing demand for renewable energy and supportive government policies. The United States holds the largest market share at approximately 70%, followed by Canada at around 15%. Regulatory incentives, such as tax credits and renewable energy mandates, are catalyzing investments in CSP technologies, making the region a leader in solar innovation. The competitive landscape is dominated by key players like BrightSource Energy and SolarReserve, which are spearheading major projects. The U.S. is home to several large-scale CSP plants, including the Crescent Dunes Solar Energy Project. Canada is also emerging with initiatives aimed at enhancing solar capacity. The presence of established companies and ongoing technological advancements are expected to further boost market growth in the region.

Europe : Innovative Solar Solutions

Europe is rapidly advancing in the Concentrated Solar Power (CSP) market, driven by stringent climate policies and a strong commitment to renewable energy. The region is the second largest market, holding approximately 20% of the global share. Countries like Spain and Germany are leading the charge, supported by EU regulations that promote renewable energy investments and sustainability initiatives. The European Green Deal aims to make Europe the first climate-neutral continent by 2050, further enhancing CSP adoption. Spain is a key player, hosting several large CSP plants, while Germany is focusing on innovative technologies to improve efficiency. Major companies like Acciona and Siemens are actively involved in CSP projects, contributing to the competitive landscape. The collaboration between governments and private sectors is fostering a robust environment for CSP development, ensuring Europe remains at the forefront of solar energy solutions.

Asia-Pacific : Emerging Solar Market

The Asia-Pacific region is emerging as a significant player in the Concentrated Solar Power (CSP) market, driven by increasing energy demands and government initiatives to promote renewable energy. Countries like China and India are leading the market, with China holding approximately 15% of the global share and India rapidly expanding its CSP capacity. Regulatory frameworks and financial incentives are encouraging investments in solar technologies, making this region a focal point for CSP growth. China's ambitious renewable energy targets and India's commitment to sustainable development are propelling the CSP market forward. Key players such as SENER and ENGIE are actively involved in various projects across the region. The competitive landscape is characterized by a mix of local and international companies, fostering innovation and collaboration. As the region continues to invest in renewable energy, the CSP market is expected to flourish in the coming years.

Middle East and Africa : Resource-Rich Solar Frontier

The Middle East and Africa region is poised for growth in the Concentrated Solar Power (CSP) market, driven by abundant solar resources and increasing energy needs. Countries like Morocco and the United Arab Emirates are leading the market, with the UAE holding approximately 5% of the global share. Government initiatives and investments in renewable energy infrastructure are catalyzing the development of CSP projects, making this region a promising frontier for solar energy. Morocco's Noor Ouarzazate Solar Complex exemplifies the region's commitment to CSP technology, while the UAE is investing heavily in solar projects to diversify its energy portfolio. The competitive landscape includes both local and international players, with companies like Abengoa and Schneider Electric contributing to the market. As the region continues to harness its solar potential, the CSP market is expected to expand significantly in the coming years.

Key Players and Competitive Insights

The Concentrated Solar Power Market, including solar thermal power, showcases a dynamic landscape driven by advancements in technology and increasing demand for renewable energy sources. As nations strive to transition to sustainable energy solutions, concentrated solar power (CSP) has emerged as a viable alternative due to its ability to generate electricity through solar radiation, thus offering significant potential for large-scale energy production. The competitive landscape is characterized by both established players and emerging companies investing in innovation, research, and development to enhance the efficiency and cost-effectiveness of CSP technologies.

This sector is influenced by governmental policies and incentives aimed at fostering the growth of renewable energy, making it a focal point for stakeholders looking to capitalize on eco-friendly energy solutions.ENGIE is a prominent player in the Concentrated Solar Power Market, boasting a robust market presence across various regions. The company's strengths lie in its experience in developing, operating, and maintaining renewable energy projects, which positions it as a leader in CSP technology. ENGIE has focused on optimizing its operations to maximize efficiency and reliability while reducing costs.

Furthermore, the company has successfully formed strategic partnerships and collaborations to enhance its technical capabilities and expand its project portfolio. This strategic emphasis on innovation and sustainability has enabled ENGIE to capture a significant market share and respond effectively to the growing global demand for cleaner energy options.

Abengoa has established itself as a formidable entity in the Concentrated Solar Power Market, recognized for its innovative approaches and comprehensive service offerings. The company specializes in developing and constructing CSP plants, providing key products and services that include innovative solar thermal technologies. Abengoa's market presence spans multiple continents, allowing it to leverage diverse geographic opportunities while addressing local energy demands. The company's strengths are reflected in its commitment to research and development, leading to breakthroughs in energy generation efficiency.

Additionally, Abengoa has pursued strategic mergers and acquisitions to enhance its operational capabilities and expand its footprint in the renewable energy sector, solidifying its position as a dependable provider of concentrated solar power solutions on a global scale.

Key Companies in the Concentrating Solar Power Market market include

Industry Developments

Q1 2025: Solar Market Insight Report Q2 2025 – SEIA The US solar industry installed 10.8 gigawatts direct current (GWdc) of capacity in Q1 2025, with utility-scale installations concentrated in Texas, Florida, Ohio, Indiana, and California. This marks the industry’s fourth-best quarter for installations, despite a 7% decline from Q1 2024.

Future Outlook

Concentrating Solar Power Market Future Outlook

The Concentrated Solar Power Market is poised for growth at 14.98% CAGR from 2024 to 2035, driven by technological advancements, increasing energy demand, and supportive government policies.

New opportunities lie in:

Development of hybrid CSP systems integrating energy storage solutions.
Expansion into emerging markets with tailored financing models.
Partnerships with industrial sectors for waste heat recovery applications.

By 2035, the market is expected to achieve substantial growth, solidifying its role in the global energy landscape.

Market Segmentation

Concentrating Solar Power Market End Use Outlook

Utility Scale
Commercial
Residential

Concentrating Solar Power Market Component Outlook

Solar Collector
Receiver
Heat Transfer Fluid
Thermal Storage System
Power Block

Concentrating Solar Power Market Technology Outlook

Parabolic Trough
Solar Power Tower
Linear Fresnel
Dish Stirling
Hybrid System

Concentrating Solar Power Market Application Outlook

Electricity Generation
Industrial Process Heat
Desalination
Heating
Cooling

Report Scope

MARKET SIZE 2024	6.91(USD Billion)
MARKET SIZE 2025	7.945(USD Billion)
MARKET SIZE 2035	32.09(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	14.98% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Market analysis in progress
Segments Covered	Market segmentation analysis in progress
Key Market Opportunities	Integration of energy storage solutions enhances reliability in the Concentrated Solar Power Market.
Key Market Dynamics	Technological advancements and regulatory support drive growth in the Concentrated Solar Power market, enhancing competitiveness and sustainability.
Countries Covered	North America, Europe, APAC, South America, MEA