Concentrated Solar Power Market To Reach $12.58 Billion By 2030

Concentrated Solar Power Market Growth & Trends

The global concentrated solar power market size is expected to reach USD 12.58 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1% from 2025 to 2030. Growing awareness about renewable sources of energy, along with government regulations to reduce the carbon footprint, is driving the market.

Changing preferences for clean sources of energy over non-renewable sources of energy is projected to propel the market growth over the projected timeframe. Supportive government initiations and regulations on reducing greenhouse gas (GHG) and carbon emissions will further augment market growth. Increasing power demand, along with growing investments to enhance the efficiency index, will offer an incentive to the business growth.

Significant reduction in the cost of components, along with favorable government incentives, such as carbon credits and energy certificates, will drive the concentrated solar power (CSP) market over the projected period. Regulatory authorities across the globe have been inspiring grid integration by making it a cheap alternative source as compared to non-renewable sources of energy.

CSP technology can store solar energy during the day time and also post-sunset, which is a supposed advantage that it bids over all the other contending technologies. Consistent power supply, coupled with suppleness in usage backing in bridging the supply and demand deficit, faced by various countries, specifically in the developing countries, is driving the CSP demand. However, concentrated solar power technology is capital intensive as compared to other solar power generation technologies, which can be a limitation for its adoption over the projected period.

Growth in ecological issues based on carbon emissions results in the need to decrease air pollution. This, in turn, increases the demand for renewable sources of energy, like solar energy. Hence, these factors are also expected to support the growth of the market. However, the high cost witnessed throughout CSP energy production limits business growth. Besides, increasing investments from diverse market players in the renewable energy sector provide profitable growth opportunity for the business.

The market in Asia Pacific proposes profitable opportunities for manufacturing companies owing to quick installation to generate solar power energy so as to increase renewable power generation capacity. China is actively enhancing the growth of the market to deal with its pollution issues and develop its local manufacturing industrial sector. Besides, the availability of labor has led to a surge in energy production through CSP, which energizes the growth of the market.

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Concentrated Solar Power Market Report Highlights

• The parabolic trough segment accounted for the largest share of 81.3% in 2024 due to the maturity and proven reliability of parabolic trough technology, which uses long, curved mirrors to focus sunlight onto a receiver tube containing a heat transfer fluid.

• The utilities segment dominated the global concentrated solar power market in 2024, primarily due to the increasing demand for large-scale renewable energy projects.

• The desalination segment is projected to grow at the fastest CAGR of 15.2% over the forecast period. The increasing global water scarcity and the need for sustainable freshwater solutions drive this rapid growth.

• North America dominated the total revenue of the global concentrated solar power market with a revenue share of 28.9% in 2024, driven by significant investments in renewable energy infrastructure and supportive government policies.

Concentrated Solar Power Market Segmentation

Grand View Research has segmented the global concentrated solar power market on the basis of technology, application, and region:

Concentrated Solar Power Technology Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

• Parabolic Trough

• Linear Fresnel

• Dish

• Power Tower

Concentrated Solar Power Application Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

• Utilities

• EOR

• Desalination

• Others

Concentrated Solar Power Regional Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

• Europe

  • Spain

  • Italy

• Asia Pacific

  • China

  • Japan

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Morocco

  • Algeria

List of Key Players of Concentrated Solar Power Market

• Abengoa

• BrightSource Energy, Inc.

• Siemens Energy

• Acciona

• Aalborg CSP

• TSK Fl

• ACWA POWER

• INITEC Energía

• Torresol Energy

• Enel Spa

• Trivelli Energia srl

• Grün leben GmbH