Global Concentrated Solar Power (CSP) Market Size, Share, Opportunities, And Trends By Type (Parabolic Trough (PT), Solar Tower (ST), Solar Dish (SD), Fresnel Reflector (FR)), By End User (Commercial, Industrial), And By Geography - Forecasts From 2025 To 2030

The global concentrated solar power (CSP) market is valued at US$12.110 billion in 2025 and is estimated to grow at a CAGR of 9.12% over the forecast period to reach US$22.304 billion in 2030. 

Concentrated solar power (CSP) plants use mirrors to concentrate the sun’s energy to run conventional steam turbines or engines that generate electricity. The thermal energy concentrated in a CSP plant can be stored and used to generate electricity as per requirements, day or night. CSP technology generates electricity by focusing on sunlight. The concentrated sun’s energy is converted into high-temperature heat, which is then channeled through a conventional generator. The CSP plant consists of two parts: the first collects the solar energy and converts it into heat, and the second converts the heat energy into electricity.

Through thermal storage, CSP systems can supply solar power on demand, helping to address grid integration challenges related to the variability of solar energy and enabling solar-generated heat to be stored until electricity is needed. In addition to powering a turbine, CSP technology can also be used as heat in several industrial applications, such as water desalination, food processing, enhanced oil recovery, mineral processing, and chemical production.

Concentrated solar power energy is a carbon-free source of electricity. It is best suited for regions and countries with strong radiation, such as Australia, the Southern United States, China, Southern Europe, South Africa, and the Middle East, among others. As such, a high focus on renewable energy sources, especially solar, is significantly driving the concentrated solar power market worldwide. Countries are rushing to meet their set targets regarding zero greenhouse gas (GHG) emissions while increasing the share of renewable energy sources in total electricity generation.

For instance, Spain has a target of 120 GW of installed renewable energy capacity, primarily solar and wind, by 2030 under its national integrated energy and climate plan (NECP 2021-30). Australia’s renewable energy target (RET), a federal government policy, aimed to generate a minimum of 33,000 GW of renewable energy by 2020. Canada also aims to raise the share of zero-emitting renewable sources to 90 percent by 2030, from approximately 80 percent in 2016. Saudi Arabia has also set a new target of achieving 58.7 GW of clean energy by 2030. Thus, all these set targets across various countries will continue to boost the market growth of concentrated solar power during the forecast period.

Although concentrated solar power accounts for only a fraction of the total green energy market, recent research suggests that smaller-scale design could help to revive interest in this sector. With this, there has been a rise in investments in the CSP market, with companies engaged in various growth strategies that will eventually spur its market growth. 

Supportive government policies and programs to ramp up the installation of concentrated solar power will continue to bolster this market’s expansion during the next five years. The U.S. Department of Energy (DOE) provided funding through competitive awards to industry, universities, and national laboratories to make large-scale dispatchable solar energy systems cost-competitive without any subsidy by 2020. MUSTEC (Market uptake of solar thermal electricity through cooperation), in light of EU 2030, aims to explore and propose solid solutions to overcome the barriers that hamper the arrangement of concentrating solar power (CSP) cooperation projects.

Segmentation analysis of the global concentrated solar power (CSP) market:

• By type, power towers are the most popular variant

By type, the global CSP market has been segmented into the parabolic trough (PT), solar tower (ST), solar dish (SD), and fresnel reflector (FR). The solar power towers segment holds a considerable market share. Solar power towers make use of flat sun-tracking mirrors on a large field. These mirrors, called heliostats, reflect and concentrate sunlight onto a receiver on the top of a tower. The parabolic trough segment is projected to grow at a decent CAGR during the forecast period.

• North America holds a significant share of the global concentrated solar power (CSP) market.

By geography, the global concentrated solar power (CSP) market has been segmented into five major regional markets- North America, South America, Europe, the Middle East and Africa (MEA), and Asia Pacific (APAC).

North America accounted for a substantial share of the global concentrated solar power market in 2019. Approximately 1,815 MW of CSP plants are in operation in the United States. Europe also holds a noteworthy share in the global concentrated solar power market, with booming investments in Spain. Furthermore, new tariff legislation, the growing need for storage, and proven plant performance have further boosted the investors’ confidence in Spanish Concentrated Solar Power ownership.

Key developments in the global concentrated solar power (CSP) market:

• In a study reported by the Journal of Energy Storage and Saving in February 2022, a research group led by Professor Ronggui Yang of China's Huazhong University of Science and Technology developed a strategy to reduce the cooling process's intensity. The researchers devised a cooling system that combined radiative cooling and cold storage. The quantity of water consumed per year has been demonstrated to reduce when used with moist cooling. The team's auxiliary cooling system combined the finest dry and wet cooling features.
• According to a release by Vast Solar in April 2022, it will construct a world-class concentrated solar power facility. The Australian government has permitted Vast Solar to establish a solar thermal reference project in Port Augusta, South Australia. Port Augusta was chosen because of its outstanding solar resources, solid electrical infrastructure, and large and expanding local demand. The Australian Government committed to discussing with Vast Solar the conditions of concessional financing of up to $110 million to fund the development of a 20MW CSP project as part of the 2022-23 Budget process.
• As noted by HEINEKEN in May 2022, with a new commitment to renewable energy, the HEINEKEN Spain family moves closer to its goal of being the first Spanish brewer with ZERO net emissions by 2025. ENGIE Spain, a global leader in low-carbon energy and services, will work with the brewer over the next 20 years to use a concentrated solar thermal solution to cut the plant's natural gas use by 60%.

Concentrated solar power market scope:

Report Metric	Details
Concentrated Solar Power (CSP) Market Size in 2025	US$12.110 billion
Concentrated Solar Power (CSP) Market Size in 2030	US$22.304 billion
Growth Rate	CAGR of 9.12%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Type End-User Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in Concentrated Solar Power (CSP) Market	Abengoa S.A. AccionaEnergía BrightSource Energy, Inc. HeliosCSP FRENELL GmbH
Customization Scope	Free report customization with purchase

 

The global concentrated solar power (CSP) market is segmented and analyzed as follows:

• By Type
  • Parabolic Trough (PT)
  • Solar Tower (ST)
  • Solar Dish (SD)
  • Fresnel Reflector (FR)
• By End-User
  • Commercial
  • Industrial
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

2.3. Data Validation

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Supplier

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL CONCENTRATED SOLAR POWER MARKET BY TYPE

5.1. Introduction

5.2. Parabolic Trough (PT)

5.3. Solar Tower (ST)

5.4. Solar Dish (SD)

5.5. Fresnel Reflector (FR)

6. GLOBAL CONCENTRATED SOLAR POWER MARKET BY END-USER

6.1. Introduction

6.2. Commercial

6.3. Industrial

7. GLOBAL CONCENTRATED SOLAR POWER MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. France

7.4.3. UK

7.4.4. Italy

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES 

9.1. Abengoa S.A.

9.2. AccionaEnergía

9.3. BrightSource Energy, Inc.

9.4. HeliosCSP

9.5. FRENELL GmbH

9.6. Siemens Energy

9.7. Intecsa Industrial S.A.

9.8. Eni S.p.A.

9.9. Pacific Green Technologies Inc.

9.10. Aalborg CSP A/S

Abengoa S.A.

AccionaEnergía

BrightSource Energy, Inc.

HeliosCSP

FRENELL GmbH

Siemens Energy

Intecsa Industrial S.A.

Eni S.p.A.

Pacific Green Technologies Inc.

Aalborg CSP A/S