Concentrated Solar Power Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Technology (Parabolic Trough, Power Tower, Linear Fresnel), By Application (Residential, Non-Residential, Utility), By Storage (With Storage, Without Storage), By Capacity (? 50 MW, > 50 to ? 100 MW, > 100 MW), By Component (Solar Field, Power Block, Thermal Energy Storage System), By Region & Competition, 2021-2031F

May 2026 | 180 pages | ID: C4E4AC3DAE8EEN
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The Global Concentrated Solar Power Market is projected to experience substantial growth, rising from USD 11.50 Billion in 2025 to USD 20.42 Billion by 2031, with a compound annual growth rate of 10.04%. Concentrated Solar Power (CSP) functions by using lenses or mirrors to focus sunlight onto a receiver, transforming the concentrated light into thermal energy that drives steam turbines for electricity production. A key factor propelling this market is the technology's ability to incorporate thermal energy storage, which facilitates power generation even after sunset, thereby resolving the intermittency challenges common to other renewable sources. Additionally, the growing necessity for grid stability and the decarbonization of high-temperature industrial processes actively underpin the ongoing expansion of CSP infrastructure.

Despite these operational benefits, the market faces a significant obstacle due to high levelized costs and initial capital expenditures relative to wind energy and solar photovoltaics. This economic gap creates a barrier to entry for new developments in regions where cost competitiveness is the primary decision-making factor. According to the International Renewable Energy Agency, the global installed capacity of Concentrated Solar Power stood at approximately 6.9 GW in 2024. Consequently, the sector depends heavily on specific policy frameworks that place a premium on dispatchability and energy storage to justify the heavy investment required for these complex thermal power facilities.

Market Driver

The increasing demand for dispatchable renewable energy equipped with thermal storage serves as a major catalyst for the Global Concentrated Solar Power Market. Unlike variable renewable technologies, CSP utilizes molten salt thermal energy storage (TES) to deliver consistent, baseload electricity, effectively filling the supply void during peak evening demand hours. This distinct capability enables utility operators to balance grids that have high penetrations of intermittent wind and solar PV, creating a structural preference for thermal plants in energy planning. For example, ACWA Power reported that in October 2024, the Redstone Concentrated Solar Power plant in South Africa commenced grid synchronization using a 12-hour molten salt storage system, designed to guarantee a continuous electricity supply.

Government mandates for carbon emission reduction and supportive policies are also significantly accelerating market growth, especially in nations aiming for industrial decarbonization and energy independence. Given the high upfront capital needed for thermal plants, the industry relies on strategic mechanisms such as public auctions, Feed-in Tariffs, and renewable portfolio standards to lower investment risks. China has aggressively promoted this technology to supplement its massive photovoltaic expansion, establishing it as a core element of its renewable infrastructure; the China Solar Thermal Alliance noted that as of early 2025, China had 34 CSP projects totaling 3,300 MW under construction. This policy-led momentum supports global expansion, with REN21 reporting that total installed CSP capacity reached 7.2 GW in 2024.

Market Challenge

High initial capital expenditures and levelized costs remain significant impediments to the growth of the Global Concentrated Solar Power Market. Although the technology offers valuable dispatchability, its substantial financial requirements create a severe barrier to entry compared to the rapidly declining costs of wind and solar photovoltaics. This cost disadvantage compels the sector to depend on subsidized markets, making it difficult for CSP projects to compete in technology-neutral auctions where immediate affordability is the main criterion. As a result, investment decisions often favor cheaper renewable alternatives, leading to a stagnation in pipeline development outside of regions with specific state support.

The consequences of these economic hurdles are reflected in the sector's limited deployment numbers. REN21 reported that in 2024, only 350 MW of new CSP generation capacity was connected to the global grid. This restricted growth underscores the market's difficulty in achieving economies of scale comparable to PV, as high capital intensity continues to deter unsubsidized commercial investment. Without a strictly cost-competitive profile, the technology remains largely in a niche role, serving primarily as a specialized tool for grid stabilization rather than a primary source of new generation capacity.

Market Trends

The expansion into Solar Industrial Process Heat applications is a rapidly growing trend as manufacturers increasingly strive to decarbonize thermal operations in hard-to-abate sectors. Distinct from traditional electricity generation, this application uses concentrating collectors to produce high-temperature steam or hot air directly for industrial activities like chemical manufacturing, mining, and food processing. By bypassing the thermodynamic conversion losses associated with electrical heating, this direct thermal coupling improves efficiency and offers a viable alternative to fossil fuel boilers. According to the International Energy Agency Solar Heating and Cooling Programme's 'Solar Heat Worldwide 2025' report released in June 2025, the global market added 120 MW of new solar industrial heat capacity in 2024, marking a significant 28% increase over the previous year.

Additionally, the utilization of CSP for Green Hydrogen production represents a strategic shift toward generating liquid solar fuels for heavy industry and transportation. By integrating concentrated solar thermal energy with thermochemical splitting cycles or high-temperature electrolysis, developers are creating systems that produce hydrogen and its derivatives without reliance on the external electrical grid. This approach leverages the consistent thermal energy of CSP to ensure the steady, high-capacity operation required for cost-effective hydrogen synthesis. A key example of this trend is Vast Renewables, which announced in March 2025 regarding the 'Port Augusta Green Energy Hub' that it had advanced its co-located Solar Methanol 1 facility, designed to produce 7,500 tonnes of green methanol annually using dispatchable solar thermal power.

Key Market Players
  • Abengoa S.A.
  • Acciona Energy, S.A.
  • Enel SpA
  • Shanghai Electric Power Generation Co., Ltd.
  • China National Chemical Engineering & Construction Corporation
  • Heliand Power GmbH
  • SolarReserve LLC
Report Scope

In this report, the Global Concentrated Solar Power Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • Concentrated Solar Power Market, By Technology
    • Parabolic Trough
    • Power Tower
    • Linear Fresnel
  • Concentrated Solar Power Market, By Application
    • Residential
    • Non-Residential
    • Utility
  • Concentrated Solar Power Market, By Storage
    • With Storage
    • Without Storage
  • Concentrated Solar Power Market, By Capacity
    • ? 50 MW
    • > 50 to ? 100 MW
    • > 100 MW
  • Concentrated Solar Power Market, By Component
    • Solar Field
    • Power Block
    • Thermal Energy Storage System
  • Concentrated Solar Power Market, By Region
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • United Kingdom
      • Italy
      • Germany
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Concentrated Solar Power Market.

Available Customizations:

Global Concentrated Solar Power Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. VOICE OF CUSTOMER

5. GLOBAL CONCENTRATED SOLAR POWER MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value
5.2. Market Share & Forecast
  5.2.1. By Technology (Parabolic Trough, Power Tower, Linear Fresnel)
  5.2.2. By Application (Residential, Non-Residential, Utility)
  5.2.3. By Storage (With Storage, Without Storage)
  5.2.4. By Capacity (? 50 MW, > 50 to ? 100 MW, > 100 MW)
  5.2.5. By Component (Solar Field, Power Block, Thermal Energy Storage System)
  5.2.6. By Region
  5.2.7. By Company (2025)
5.3. Market Map

6. NORTH AMERICA CONCENTRATED SOLAR POWER MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Technology
  6.2.2. By Application
  6.2.3. By Storage
  6.2.4. By Capacity
  6.2.5. By Component
  6.2.6. By Country
6.3. North America: Country Analysis
  6.3.1. United States Concentrated Solar Power Market Outlook
    6.3.1.1. Market Size & Forecast
      6.3.1.1.1. By Value
    6.3.1.2. Market Share & Forecast
      6.3.1.2.1. By Technology
      6.3.1.2.2. By Application
      6.3.1.2.3. By Storage
      6.3.1.2.4. By Capacity
      6.3.1.2.5. By Component
  6.3.2. Canada Concentrated Solar Power Market Outlook
    6.3.2.1. Market Size & Forecast
      6.3.2.1.1. By Value
    6.3.2.2. Market Share & Forecast
      6.3.2.2.1. By Technology
      6.3.2.2.2. By Application
      6.3.2.2.3. By Storage
      6.3.2.2.4. By Capacity
      6.3.2.2.5. By Component
  6.3.3. Mexico Concentrated Solar Power Market Outlook
    6.3.3.1. Market Size & Forecast
      6.3.3.1.1. By Value
    6.3.3.2. Market Share & Forecast
      6.3.3.2.1. By Technology
      6.3.3.2.2. By Application
      6.3.3.2.3. By Storage
      6.3.3.2.4. By Capacity
      6.3.3.2.5. By Component

7. EUROPE CONCENTRATED SOLAR POWER MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Technology
  7.2.2. By Application
  7.2.3. By Storage
  7.2.4. By Capacity
  7.2.5. By Component
  7.2.6. By Country
7.3. Europe: Country Analysis
  7.3.1. Germany Concentrated Solar Power Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Technology
      7.3.1.2.2. By Application
      7.3.1.2.3. By Storage
      7.3.1.2.4. By Capacity
      7.3.1.2.5. By Component
  7.3.2. France Concentrated Solar Power Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Technology
      7.3.2.2.2. By Application
      7.3.2.2.3. By Storage
      7.3.2.2.4. By Capacity
      7.3.2.2.5. By Component
  7.3.3. United Kingdom Concentrated Solar Power Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Technology
      7.3.3.2.2. By Application
      7.3.3.2.3. By Storage
      7.3.3.2.4. By Capacity
      7.3.3.2.5. By Component
  7.3.4. Italy Concentrated Solar Power Market Outlook
    7.3.4.1. Market Size & Forecast
      7.3.4.1.1. By Value
    7.3.4.2. Market Share & Forecast
      7.3.4.2.1. By Technology
      7.3.4.2.2. By Application
      7.3.4.2.3. By Storage
      7.3.4.2.4. By Capacity
      7.3.4.2.5. By Component
  7.3.5. Spain Concentrated Solar Power Market Outlook
    7.3.5.1. Market Size & Forecast
      7.3.5.1.1. By Value
    7.3.5.2. Market Share & Forecast
      7.3.5.2.1. By Technology
      7.3.5.2.2. By Application
      7.3.5.2.3. By Storage
      7.3.5.2.4. By Capacity
      7.3.5.2.5. By Component

8. ASIA PACIFIC CONCENTRATED SOLAR POWER MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Technology
  8.2.2. By Application
  8.2.3. By Storage
  8.2.4. By Capacity
  8.2.5. By Component
  8.2.6. By Country
8.3. Asia Pacific: Country Analysis
  8.3.1. China Concentrated Solar Power Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Technology
      8.3.1.2.2. By Application
      8.3.1.2.3. By Storage
      8.3.1.2.4. By Capacity
      8.3.1.2.5. By Component
  8.3.2. India Concentrated Solar Power Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Technology
      8.3.2.2.2. By Application
      8.3.2.2.3. By Storage
      8.3.2.2.4. By Capacity
      8.3.2.2.5. By Component
  8.3.3. Japan Concentrated Solar Power Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Technology
      8.3.3.2.2. By Application
      8.3.3.2.3. By Storage
      8.3.3.2.4. By Capacity
      8.3.3.2.5. By Component
  8.3.4. South Korea Concentrated Solar Power Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Technology
      8.3.4.2.2. By Application
      8.3.4.2.3. By Storage
      8.3.4.2.4. By Capacity
      8.3.4.2.5. By Component
  8.3.5. Australia Concentrated Solar Power Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Technology
      8.3.5.2.2. By Application
      8.3.5.2.3. By Storage
      8.3.5.2.4. By Capacity
      8.3.5.2.5. By Component

9. MIDDLE EAST & AFRICA CONCENTRATED SOLAR POWER MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Technology
  9.2.2. By Application
  9.2.3. By Storage
  9.2.4. By Capacity
  9.2.5. By Component
  9.2.6. By Country
9.3. Middle East & Africa: Country Analysis
  9.3.1. Saudi Arabia Concentrated Solar Power Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Technology
      9.3.1.2.2. By Application
      9.3.1.2.3. By Storage
      9.3.1.2.4. By Capacity
      9.3.1.2.5. By Component
  9.3.2. UAE Concentrated Solar Power Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Technology
      9.3.2.2.2. By Application
      9.3.2.2.3. By Storage
      9.3.2.2.4. By Capacity
      9.3.2.2.5. By Component
  9.3.3. South Africa Concentrated Solar Power Market Outlook
    9.3.3.1. Market Size & Forecast
      9.3.3.1.1. By Value
    9.3.3.2. Market Share & Forecast
      9.3.3.2.1. By Technology
      9.3.3.2.2. By Application
      9.3.3.2.3. By Storage
      9.3.3.2.4. By Capacity
      9.3.3.2.5. By Component

10. SOUTH AMERICA CONCENTRATED SOLAR POWER MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Technology
  10.2.2. By Application
  10.2.3. By Storage
  10.2.4. By Capacity
  10.2.5. By Component
  10.2.6. By Country
10.3. South America: Country Analysis
  10.3.1. Brazil Concentrated Solar Power Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Technology
      10.3.1.2.2. By Application
      10.3.1.2.3. By Storage
      10.3.1.2.4. By Capacity
      10.3.1.2.5. By Component
  10.3.2. Colombia Concentrated Solar Power Market Outlook
    10.3.2.1. Market Size & Forecast
      10.3.2.1.1. By Value
    10.3.2.2. Market Share & Forecast
      10.3.2.2.1. By Technology
      10.3.2.2.2. By Application
      10.3.2.2.3. By Storage
      10.3.2.2.4. By Capacity
      10.3.2.2.5. By Component
  10.3.3. Argentina Concentrated Solar Power Market Outlook
    10.3.3.1. Market Size & Forecast
      10.3.3.1.1. By Value
    10.3.3.2. Market Share & Forecast
      10.3.3.2.1. By Technology
      10.3.3.2.2. By Application
      10.3.3.2.3. By Storage
      10.3.3.2.4. By Capacity
      10.3.3.2.5. By Component

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. GLOBAL CONCENTRATED SOLAR POWER MARKET: SWOT ANALYSIS

14. PORTER'S FIVE FORCES ANALYSIS

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. COMPETITIVE LANDSCAPE

15.1. Abengoa S.A.
  15.1.1. Business Overview
  15.1.2. Products & Services
  15.1.3. Recent Developments
  15.1.4. Key Personnel
  15.1.5. SWOT Analysis
15.2. Acciona Energy, S.A.
15.3. Enel SpA
15.4. Shanghai Electric Power Generation Co., Ltd.
15.5. China National Chemical Engineering & Construction Corporation
15.6. Heliand Power GmbH
15.7. SolarReserve LLC

16. STRATEGIC RECOMMENDATIONS

17. ABOUT US & DISCLAIMER



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