Friday Dec 02, 2022

Concentrated Solar Power Market Size to Hit USD 119.52 Billion by 2028 | Exhibit a CAGR of 16.2% – GlobeNewswire


Pune, India, Aug. 02, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global concentrated solar power market size is projected to hit USD 119.52 billion by 2028 and exhibit a CAGR of 16.2% during the forecast period. The market size stood at USD 37.25 billion in 2020 and USD 41.68 billion in 2021 respectively. The presence of several large scale companies in this sector will have a huge impact on the growth of the market in the forthcoming years.

The rising awareness regarding the use of natural energy sources over traditional power sources will favour concentrated solar power market growth. According to a report published by Fortune Business Insights, titled Concentrated Solar Power Market, 2021-2028.

Industry Development:

March 2020: Shouhang Hightech Energy Technology Co., Ltd (Shouhang), forged a Cooperation Agreement with the government of Gansu Province for the Jinta 100MW Molten Salt Tower Concentrating Solar Power Project. The project is due by the end of 2021

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Report Highlights:

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Report Coverage Details
Forecast Period 2021-2028
Forecast Period 2022 to 2029 CAGR 16.2%
2028 Value Projection USD 119.52 billion
Base Year 2020
Market Size in 2020 USD 37.25 billion
Historical Data for 2017-2019
No. of Pages 210
Segments covered By Technology, Application, and Region