Concentrated solar thermal energy is the generation of heat or electricity through mirrors to concentrate the sun rays to the temperature changing between 400 and 1,000C. This type of energy is then typically employed to heat a fluid, mainly water or oil, which in turn produces steam or hot air. There are various types of mirror shapes and sun-tracking approaches to offer useful energy, but all of them work in a similar principle of driving a heat engine to produce electricity that can then be fed into the grid.
|High Growth Market||Asia- Pacific|
|Unit||Value (USD Million)|
|Key Companies Profiled||GE Energy (United States), Hitachi (Japan), Siemens (Germany), BrightSource Energy (United States), Directed Vapor (United States), Abengoa (Spain), Acciona (Spain), Areva (France), SCHOTT (Germany), SEIA (United States) and NextEra Energy Resources LLC (United States)|
This growth is primarily driven by Rise in Government Support in Adoption of Renewable Technologies and Increase in Awareness of Global Warming.
Globally, a noticeable market trend is evident Rising Adoption of High-Efficiency Systems Along With Favorable Government Policies
The Energy & Resources sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as GE Energy (United States), Hitachi (Japan), Siemens (Germany), BrightSource Energy (United States), Directed Vapor (United States), Abengoa (Spain), Acciona (Spain), Areva (France), SCHOTT (Germany), SEIA (United States) and NextEra Energy Resources LLC (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global concentrated solar power market manufacturers are closely following the growths in the renewable energy business to formulate strategies which would contribute to growing their market share. Key players are making large funds to grow new technologies as well as innovative designs, to boost the adoption of these products.
Key Developments in the Market:
On 21st May 2019, GE Renewable Energy and TÜV NORD have announced a milestone in the testing and certification of wind turbines, the first design conformity statement to cover a 40-year period. TÜV NORD issued the statement for GE Renewable Energy's 2.7-116 turbine in accordance with the IEC 61400-22 standard.
Rising Adoption of High-Efficiency Systems Along With Favorable Government Policies and Shifting Trends toward Thermal Energy Storage Systems
Market Growth Drivers:
Rise in Government Support in Adoption of Renewable Technologies and Increase in Awareness of Global Warming
High Cost of Energy Generation
Increase in Investment from Different Businesses in Renewable Sources and Upsurge In Acceptance of Heat Storage Systems
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Concentrated Solar Thermal Market
- Analysis about New Entrants in Concentrated Solar Thermal Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Concentrated Solar Thermal Study Sheds Light on
The Concentrated Solar Thermal Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Concentrated Solar Thermal industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Concentrated Solar Thermal industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.