Product Code: ETC13357281 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Sumit Sagar | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Concentrated Solar Thermal Market was valued at USD 6.67 Billion in 2024 and is expected to reach USD 15.76 Billion by 2031, growing at a compound annual growth rate of 23.20% during the forecast period (2025-2031).
The Global Concentrated Solar Thermal Market is experiencing steady growth driven by increasing focus on renewable energy sources and reducing carbon emissions. Concentrated solar thermal technology uses mirrors or lenses to concentrate sunlight onto a small area, generating heat that can be used for electricity generation or industrial processes. Key market drivers include government incentives, such as feed-in tariffs and tax credits, as well as the declining cost of solar technology. The market is also benefiting from advancements in energy storage solutions, enabling the continuous generation of electricity even when the sun is not shining. Key players in the market include companies like Abengoa Solar, BrightSource Energy, and Acciona Energy. The Asia-Pacific region is expected to witness significant growth in the coming years, driven by increasing investments in renewable energy projects.
The Global Concentrated Solar Thermal Market is witnessing significant growth due to increasing investments in renewable energy sources and the rising focus on reducing carbon emissions. One of the key trends in the market is the development of advanced storage technologies to enhance the efficiency and reliability of concentrated solar thermal systems. Additionally, the integration of digital technologies such as IoT and AI is creating new opportunities for optimizing operations and maintenance activities. The market also presents opportunities for expansion in emerging economies where there is a growing demand for clean energy solutions. Overall, the Global Concentrated Solar Thermal Market is poised for steady growth driven by technological advancements and the increasing adoption of sustainable energy sources.
The Global Concentrated Solar Thermal Market faces several challenges, including high initial capital costs for setting up the infrastructure, intermittent nature of sunlight leading to fluctuations in energy output, and competition from other renewable energy sources such as solar photovoltaic and wind energy. Additionally, the need for large land areas for solar thermal power plants and water scarcity in some regions for cooling purposes present logistical challenges. Technological advancements and innovations are required to improve efficiency, reduce costs, and address these challenges to make concentrated solar thermal energy more competitive and sustainable in the global energy mix. Collaboration between governments, industry stakeholders, and research institutions will be crucial in overcoming these hurdles and driving the growth of the concentrated solar thermal market.
The Global Concentrated Solar Thermal Market is primarily driven by the increasing focus on renewable energy sources to reduce carbon emissions and combat climate change. Government initiatives and policies promoting the adoption of sustainable energy solutions are also key drivers, providing incentives and subsidies for concentrated solar thermal projects. The technology`s ability to store and generate power even in the absence of sunlight, its scalability, and cost-effectiveness compared to traditional energy sources are further propelling market growth. Additionally, rising energy demand, coupled with the need for energy independence and security, is fueling the deployment of concentrated solar thermal systems in various industrial and commercial applications, driving market expansion globally.
Government policies related to the Global Concentrated Solar Thermal Market vary across countries. Many governments have implemented incentives such as feed-in tariffs, tax credits, and subsidies to promote the development and deployment of concentrated solar thermal technologies. In addition, renewable energy targets and emission reduction goals set by governments worldwide are driving the growth of the concentrated solar thermal market. Some countries have specific regulatory frameworks in place to support the integration of concentrated solar thermal power plants into their energy systems. Overall, government policies play a crucial role in shaping the market dynamics of concentrated solar thermal technologies, influencing investment decisions and driving industry innovation and growth.
The Global Concentrated Solar Thermal Market is expected to witness significant growth in the coming years due to increasing focus on renewable energy sources and the shift towards sustainable energy solutions. Factors such as government support through incentives and subsidies, technological advancements leading to improved efficiency and cost-effectiveness, and the growing awareness about environmental concerns are driving the market growth. Additionally, the rising demand for clean energy and the need to reduce carbon emissions are further propelling the adoption of concentrated solar thermal systems globally. With ongoing research and development efforts to enhance the technology and expand its applications, the market is anticipated to expand rapidly, offering lucrative opportunities for market players and contributing towards a more sustainable energy future.
In the global concentrated solar thermal market, each region offers unique opportunities and challenges. Asia is a key player due to its increasing focus on renewable energy and large investments in solar projects, particularly in countries like China and India. North America is a mature market with a strong presence of established players and government support for solar thermal technologies. Europe leads in terms of technological advancements and strict environmental regulations promoting the adoption of concentrated solar thermal systems. The Middle East and Africa region benefits from abundant sunlight, driving significant growth in solar thermal projects, especially in countries like Morocco and South Africa. Latin America is witnessing a rise in solar energy investments, with countries like Chile and Mexico leading the way in adopting concentrated solar thermal technology for sustainable energy generation.
Global Concentrated Solar Thermal Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Concentrated Solar Thermal Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Concentrated Solar Thermal Market Revenues & Volume, 2021 & 2031F |
3.3 Global Concentrated Solar Thermal Market - Industry Life Cycle |
3.4 Global Concentrated Solar Thermal Market - Porter's Five Forces |
3.5 Global Concentrated Solar Thermal Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Concentrated Solar Thermal Market Revenues & Volume Share, By Technology Type, 2021 & 2031F |
3.7 Global Concentrated Solar Thermal Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Global Concentrated Solar Thermal Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.9 Global Concentrated Solar Thermal Market Revenues & Volume Share, By Power Rating, 2021 & 2031F |
3.10 Global Concentrated Solar Thermal Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Global Concentrated Solar Thermal Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Concentrated Solar Thermal Market Trends |
6 Global Concentrated Solar Thermal Market, 2021 - 2031 |
6.1 Global Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Concentrated Solar Thermal Market, Revenues & Volume, By Parabolic Trough, 2021 - 2031 |
6.1.3 Global Concentrated Solar Thermal Market, Revenues & Volume, By Solar Tower, 2021 - 2031 |
6.1.4 Global Concentrated Solar Thermal Market, Revenues & Volume, By Linear Fresnel, 2021 - 2031 |
6.1.5 Global Concentrated Solar Thermal Market, Revenues & Volume, By Dish Stirling, 2021 - 2031 |
6.2 Global Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Concentrated Solar Thermal Market, Revenues & Volume, By Industrial Heating, 2021 - 2031 |
6.2.3 Global Concentrated Solar Thermal Market, Revenues & Volume, By Power Generation, 2021 - 2031 |
6.2.4 Global Concentrated Solar Thermal Market, Revenues & Volume, By Water Desalination, 2021 - 2031 |
6.2.5 Global Concentrated Solar Thermal Market, Revenues & Volume, By Hybrid Solar Systems, 2021 - 2031 |
6.3 Global Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Concentrated Solar Thermal Market, Revenues & Volume, By Absorber Tubes, 2021 - 2031 |
6.3.3 Global Concentrated Solar Thermal Market, Revenues & Volume, By Reflectors, 2021 - 2031 |
6.3.4 Global Concentrated Solar Thermal Market, Revenues & Volume, By Heat Transfer Fluid, 2021 - 2031 |
6.3.5 Global Concentrated Solar Thermal Market, Revenues & Volume, By Control Systems, 2021 - 2031 |
6.4 Global Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Concentrated Solar Thermal Market, Revenues & Volume, By 50 MW, 2021 - 2031 |
6.4.3 Global Concentrated Solar Thermal Market, Revenues & Volume, By 50 MW “ 100 MW, 2021 - 2031 |
6.4.4 Global Concentrated Solar Thermal Market, Revenues & Volume, By 100 MW, 2021 - 2031 |
6.5 Global Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Concentrated Solar Thermal Market, Revenues & Volume, By Industrial, 2021 - 2031 |
6.5.3 Global Concentrated Solar Thermal Market, Revenues & Volume, By Utilities, 2021 - 2031 |
6.5.4 Global Concentrated Solar Thermal Market, Revenues & Volume, By Commercial, 2021 - 2031 |
6.5.5 Global Concentrated Solar Thermal Market, Revenues & Volume, By Residential, 2021 - 2031 |
7 North America Concentrated Solar Thermal Market, Overview & Analysis |
7.1 North America Concentrated Solar Thermal Market Revenues & Volume, 2021 - 2031 |
7.2 North America Concentrated Solar Thermal Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
7.4 North America Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
7.5 North America Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
7.6 North America Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
7.7 North America Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
8 Latin America (LATAM) Concentrated Solar Thermal Market, Overview & Analysis |
8.1 Latin America (LATAM) Concentrated Solar Thermal Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Concentrated Solar Thermal Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
8.4 Latin America (LATAM) Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
8.5 Latin America (LATAM) Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
8.6 Latin America (LATAM) Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
8.7 Latin America (LATAM) Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
9 Asia Concentrated Solar Thermal Market, Overview & Analysis |
9.1 Asia Concentrated Solar Thermal Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Concentrated Solar Thermal Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
9.4 Asia Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
9.5 Asia Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
9.6 Asia Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
9.7 Asia Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
10 Africa Concentrated Solar Thermal Market, Overview & Analysis |
10.1 Africa Concentrated Solar Thermal Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Concentrated Solar Thermal Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
10.4 Africa Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
10.5 Africa Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
10.6 Africa Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
10.7 Africa Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
11 Europe Concentrated Solar Thermal Market, Overview & Analysis |
11.1 Europe Concentrated Solar Thermal Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Concentrated Solar Thermal Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
11.4 Europe Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
11.5 Europe Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
11.6 Europe Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
11.7 Europe Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
12 Middle East Concentrated Solar Thermal Market, Overview & Analysis |
12.1 Middle East Concentrated Solar Thermal Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Concentrated Solar Thermal Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Concentrated Solar Thermal Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Concentrated Solar Thermal Market, Revenues & Volume, By Technology Type, 2021 - 2031 |
12.4 Middle East Concentrated Solar Thermal Market, Revenues & Volume, By Application, 2021 - 2031 |
12.5 Middle East Concentrated Solar Thermal Market, Revenues & Volume, By Component, 2021 - 2031 |
12.6 Middle East Concentrated Solar Thermal Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
12.7 Middle East Concentrated Solar Thermal Market, Revenues & Volume, By End User, 2021 - 2031 |
13 Global Concentrated Solar Thermal Market Key Performance Indicators |
14 Global Concentrated Solar Thermal Market - Export/Import By Countries Assessment |
15 Global Concentrated Solar Thermal Market - Opportunity Assessment |
15.1 Global Concentrated Solar Thermal Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Concentrated Solar Thermal Market Opportunity Assessment, By Technology Type, 2021 & 2031F |
15.3 Global Concentrated Solar Thermal Market Opportunity Assessment, By Application, 2021 & 2031F |
15.4 Global Concentrated Solar Thermal Market Opportunity Assessment, By Component, 2021 & 2031F |
15.5 Global Concentrated Solar Thermal Market Opportunity Assessment, By Power Rating, 2021 & 2031F |
15.6 Global Concentrated Solar Thermal Market Opportunity Assessment, By End User, 2021 & 2031F |
16 Global Concentrated Solar Thermal Market - Competitive Landscape |
16.1 Global Concentrated Solar Thermal Market Revenue Share, By Companies, 2024 |
16.2 Global Concentrated Solar Thermal Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |