Concentrated Solar Power Market to grow at 23% from 2016 to 2025

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Global Concentrated Solar Power Market to reach
24 GW by 2025 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Industry Overview

• Concentrated solar power market is gaining an
  edge successfully in improving profitability and
  developing new revenue streams. Growth of the
  concentrated solar power industry is increasingly
  being driven by government policies aimed at
  reducing GHG emissions and balancing the fossil
  fuel depletion. For instance, the U.S. treasury
  department and the state government have awarded
  tax credits to CPS projects which make use of
  clean energy. Another prominent example is the
  Office of Energy Efficiency and Renewable Energy,
  which provided funds of approximately USD 9
  million to 6 CSP projects to achieve a
  substantial reduction in the prices and ensure
  technological advancements.
• The mounting need for efficient renewable energy
  sources for large scale electricity generation,
  owing to rapid industrialization and urbanization
  is likely to propel the global concentrated solar
  power industry.
• Amongst the various types of solar power
  generators based on technological bifurcation,
  parabolic troughs accounted for over 70 of the
  global concentrated solar power industry in 2015.
  High efficiency and low cost of the parabolic
  troughs is gaining preference in the mass market.
  Linear Fresnel, power tower, and dish are the
  other technologies used in solar power generators
  witnessing noticeable growth. Linear Fresnel
  concentrated solar power industry is anticipated
  to surpass USD 9 billion by 2025.

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• Considering the deployment of concentrated solar
  power generators around the world Chile is
  leading the industry and is estimated to record a
  highest growth rate of more than 27 over the
  period of 2016-2025. The favorable climatic
  conditions and an adequate hub of current
  projects will pave the way for border deployment
  in the region. Chile holds around 400 MW of solar
  photovoltaic generation under construction. This
  number is more than any other nation in South
  America.
• U.S. concentrated solar power market worth USD 12
  billion in 2015, is projected to grow at a CAGR
  of 8 over the period of 2016-2025. Spain is
  estimated to exceed 3.5 GW by 2025, in which 3.1
  of the total electricity demand is met by
  photovoltaics and 1.8 is met by concentrated
  solar power plants. Government regulations to
  curb carbon footprints and emphasis on adapting
  clean energy channels will complement the
  regional growth.
• Mergers and acquisitions is one of the main
  strategies adopted by leading companies to expand
  their regional presence. Notable concentrated
  solar power industry players include Siemens, TSK
  Flagsol, Solar Millennium, Acciona, NextEra
  Energy Resources, eSolar, Areva, Solar Reserve,
  BrightSource Energy, and Abengoa.

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Global Concentrated Solar Power (CSP) Market
installed capacity, by technology 2016 2025 (GW)

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