Market Size of Europe Concentrated Solar Power
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Concentrated Solar Power Market Analysis
Europe concentrated solar power market is expected to rise at a CAGR of 7.5% during the forecast period of 2022-2027. Like many other industries, Concentrated solar market has been dramatically hit by COVID 19 pandemic. Covid 19 has disrupted the supply chain industry and caused difficulty in sourcing equipment for the active projects and shutdown of commercial and industrial facilities, causing electrical demand to drop, affecting the operation of existing infrastructure. Factors such as the declining cost of CSP components and increased adoption of renewable energy sources to limit emissions are likely to drive the Concentrated solar power market during the forecast period. However, high capital investments are expected to restrain the concentrated solar power market.
- The molten salt technology segment is expected to dominate the concentrated solar power market during the forecast period.
- Technology improvements and integration of Concentrated solar power in hybrid power plants. This will positively impact the environment, and climate change is expected to create several opportunities for Concentrating solar power market in the future.
- Spain is the fastest growth country in the concentrated solar power market during the forecast period owing to a number of new projects being planned in the country.
