The global concentrated solar power (CSP) market was 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.
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.
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.
Global Concentrated Solar Power (CSP) Market Geographical Outlook
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.
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- Historical data & forecasts from 2022 to 2030
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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
- South America
- Europe
- Middle East and Africa
- Asia-Pacific
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL CONCENTRATED SOLAR POWER MARKET BY TYPE
6. GLOBAL CONCENTRATED SOLAR POWER MARKET BY END-USER
7. GLOBAL CONCENTRATED SOLAR POWER MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies Mentioned
- 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
Methodology
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