Global Concentrating Solar Power Market Size Study & Forecast, by Technology (Parabolic Trough, Power Tower, Linear Fresnel), by Application (Residential, Non-Residential, Utility) and Regional Forecasts 2025–2035

The Global Concentrating Solar Power (CSP) Market is currently valued at approximately USD 77.16 billion in 2024 and is anticipated to flourish at an exceptional CAGR of 45.53% throughout the forecast period from 2025 to 2035. CSP technology, which uses mirrors or lenses to concentrate sunlight and convert it into heat to drive turbines for electricity generation, is swiftly gaining ground in the race to decarbonize global energy systems. As governments, industries, and energy consumers rally around the urgent imperative of achieving net-zero emissions, CSP has emerged as a formidable solution for large-scale, sustainable, and dispatchable power generation—particularly in sun-rich geographies. With increasing pressure to diversify energy portfolios and wean economies off fossil fuels, CSP plants offer the added advantage of integrated thermal storage, enabling electricity production even after sunset, thus bridging the intermittency gap posed by photovoltaic systems.

The exponential rise in demand is being propelled by a wave of global policy endorsements, technological enhancements, and the swelling investment in utility-scale solar infrastructure. Innovations in thermal energy storage systems, such as molten salt tanks, are unlocking the potential for round-the-clock solar electricity. These systems are also being designed to support grid stability, enhance energy security, and reduce reliance on imported fossil fuels. Furthermore, the integration of hybrid systems—blending CSP with photovoltaics, wind, and even biomass—is gaining momentum in regions targeting robust grid resiliency. For instance, the parabolic trough segment has evolved significantly, with improved mirror reflectivity and tracking mechanisms that elevate thermal efficiency while reducing operating costs. As manufacturers ramp up R&D on novel materials and storage integration, the CSP market is poised for rapid expansion across residential, non-residential, and particularly utility-scale installations.

Geographically, North America and Europe remain influential markets due to their aggressive climate mandates and consistent funding for green energy projects. The United States, in particular, is driving innovation in solar thermal storage and is home to several mega-CSP installations across its sunbelt regions. Europe continues to lead on the regulatory front, with EU member states exploring CSP as part of their diversified renewable strategy under the European Green Deal. However, it is the Asia Pacific region that is projected to be the fastest-growing market through 2035. Countries like China and India are channeling substantial public and private capital into CSP technologies as part of broader efforts to meet soaring energy demands while curbing greenhouse gas emissions. Meanwhile, the Middle East & Africa are emerging as high-potential regions with vast desert landscapes ideal for utility-scale CSP projects, buoyed by visionary investments in solar energy by Gulf nations.

Major market player included in this report are:
• Siemens AG
• ABB Ltd.
• BrightSource Energy Inc.
• Aalborg CSP
• ACWA Power
• SolarReserve, LLC
• GE Renewable Energy
• TSK Flagsol Engineering GmbH
• SENER Group
• Alsolen
• Engie SA
• Chiyoda Corporation
• NextEra Energy Resources, LLC
• Rackam
• Enel Green Power

Global Concentrating Solar Power Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025–2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Technology:
• Parabolic Trough
• Power Tower
• Linear Fresnel

By Application:
• Residential
• Non-Residential
• Utility

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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