Concentrating Solar Collectors Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Germany, Japan, India - Size and Forecast 2024-2028

Concentrating Solar Collectors Market Size 2024-2028

The concentrating solar collectors market size is valued to increase by USD 3.21 billion, at a CAGR of 10.4% from 2023 to 2028. Increasing investments in renewable energy sector will drive the concentrating solar collectors market.

Market Insights

• APAC dominated the market and accounted for a 46% growth during the 2024-2028.
• By End-user - Industrial segment was valued at USD 1.81 billion in 2022
• By segment2 - segment2_1 segment accounted for the largest market revenue share in 2022

Market Size & Forecast

• Market Opportunities: USD 109.57 million 
• Market Future Opportunities 2023: USD 3208.30 million
• CAGR from 2023 to 2028 : 10.4%

Market Summary

• The global market for Concentrating Solar Collectors (CSCs) is experiencing significant growth, driven by increasing investments in the renewable energy sector and the emergence of smart cities. As the world shifts towards sustainable energy sources, CSCs have gained prominence due to their ability to convert solar energy into thermal energy, which can be used for various applications, including electricity generation and industrial processes. The dependency on fossil fuels, coupled with the need to reduce greenhouse gas emissions, is a major factor driving the adoption of CSCs. These collectors use mirrors or lenses to concentrate a large area of sunlight onto a small area, thereby increasing the temperature and generating heat.
• This thermal energy can be stored in molten salt tanks and used to produce electricity even during non-sunny hours, making CSCs a reliable and efficient alternative to traditional power sources. A real-world business scenario illustrating the importance of CSCs is the optimization of supply chain operations in the manufacturing sector. By integrating solar thermal energy into their processes, manufacturers can reduce their reliance on fossil fuels, lower their carbon footprint, and save on energy costs. For instance, a large automotive manufacturer in Europe has implemented a CSC system to power its paint shop, reducing its energy consumption and improving operational efficiency.
• Despite the numerous benefits, challenges persist in the CSC market, including high capital costs, complex installation processes, and the intermittent nature of solar energy. However, advancements in technology and government incentives are addressing these challenges, making CSCs an attractive investment for businesses and governments alike.

What will be the size of the Concentrating Solar Collectors Market during the forecast period?

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• The Concentrating Solar Collector (CSC) market represents a dynamic and evolving sector in the renewable energy industry. These systems harness solar energy by concentrating sunlight onto a small area, generating heat, and converting it into electricity. The market's growth is driven by several factors, including environmental regulations, renewable portfolio standards, and the increasing demand for clean energy sources. One significant trend in the CSC market is the focus on cost reduction strategies. Companies are investing in research and development to improve system integration, thermal cycling effects, and efficiency. For instance, reflectance enhancement and flux distribution analysis have led to a 10% reduction in heat loss, thereby lowering operational costs.
• Additionally, advancements in control algorithms, system fault detection, and grid connection have enhanced operational reliability and predictive maintenance capabilities. Environmental regulations, such as energy policy compliance and energy storage capacity requirements, are compelling organizations to adopt CSC technology. These regulations necessitate the transition from traditional fossil fuel-based power generation to renewable energy sources. As a result, businesses must consider the long-term benefits of CSCs, including their ability to provide stable power output, thermal stress modeling, and heliostat alignment. In summary, the Concentrating Solar Collector market is witnessing continuous growth due to various factors, including regulatory pressures, cost reduction strategies, and technological advancements.
• Companies must stay informed about these trends to make informed decisions regarding budgeting, product strategy, and compliance.

Unpacking the Concentrating Solar Collectors Market Landscape

Concentrating Solar Power (CSP) collectors are a crucial component in harnessing solar thermal energy for electricity generation. These collectors employ advanced technologies, such as power towers, linear Fresnel reflectors, and parabolic trough collectors, to concentrate solar irradiance and generate heat. Optical efficiency losses in CSP systems can significantly impact plant performance. By optimizing solar field design, tracking system accuracy, and solar receiver design, businesses can minimize these losses, leading to improved economic viability assessment and higher capacity factor. Grid stability is another essential consideration. Heliostat field design and system control strategies play a pivotal role in ensuring grid compatibility. Moreover, thermal energy storage systems, with their extended energy storage duration, contribute to dispatchable renewable energy generation, enhancing grid stability and carbon footprint reduction. CSP technology's environmental impact assessment is also crucial. By employing molten salt technology and minimizing water consumption metrics, businesses can reduce the environmental impact while maintaining peak power delivery and thermal energy storage capabilities. In the realm of CSP, component lifespan and maintenance schedules are essential for long-term success. Turbine generator systems and thermal storage systems must be designed for durability and ease of maintenance to ensure consistent electricity generation and cost-effective operation.

Key Market Drivers Fueling Growth

The renewable energy sector's growth is primarily fueled by substantial investments in this area, serving as the primary market driver.

• The Concentrating Solar Collector (CSC) market is experiencing significant growth and transformation, driven by the increasing adoption of renewable energy sources in the global energy mix. According to the International Energy Agency, renewable electricity capacity additions are projected to reach 507 GW in 2023, a 50% increase from 2022, with policy support in over 130 countries. Renewable energy's competitive cost and low carbon emissions have attracted substantial investments worldwide. The IEA reports that renewable energy accounted for 30% of global electricity generation in 2023.
• Despite the relatively high initial cost of generating electricity using CSCs compared to traditional fossil fuel sources, advancements in technology have led to improved efficiency and reduced downtime by up to 30%. This, in turn, has made CSCs a viable alternative to newly built fossil fuel power plants, making a significant contribution to the global shift towards sustainable energy sources.

Prevailing Industry Trends & Opportunities

The emergence of smart cities represents the latest market trend. This development signifies a significant shift towards advanced urban living. 

• In the evolving landscape of sustainable energy solutions, Concentrating Solar Collectors (CSC) have emerged as a significant contributor to the global energy transition. CSC technology, which converts sunlight into heat to generate electricity, has gained traction in various sectors, including utilities, industrial, and commercial. According to recent studies, the CSC market is projected to grow at a robust rate, with Europe leading the charge. For instance, the European Union has launched the European Innovation Partnership on Smart Cities and Communities, fueling the adoption of CSC in smart city projects. This innovation has led to substantial energy savings and reduced carbon emissions.
• For instance, a leading city in Europe reported a 25% decrease in energy consumption through the integration of CSC in its smart city initiatives. Another city achieved a 35% reduction in operational costs by implementing CSC technology in its industrial sector. These business outcomes underscore the potential of Concentrating Solar Collectors in driving sustainable growth and efficiency across multiple sectors.

Significant Market Challenges

The reliance on fossil fuels poses a significant challenge to the growth of industries. This issue necessitates the exploration for alternative energy sources and the implementation of energy-efficient practices to mitigate the impact on industrial expansion. 

• In the global energy landscape, Concentrating Solar Collector (CSC) technology is gaining traction as a viable alternative to fossil fuels, particularly in regions with abundant solar radiation. The market for CSCs is evolving rapidly, with applications spanning power generation, industrial processes, and water heating. According to the International Energy Agency (IEA), renewable energy sources will account for over 42% of global electricity generation by 2028, with solar energy, including CSCs, contributing significantly to this growth. For instance, the concentration of solar energy using mirrors or lenses can increase the efficiency of solar power generation by up to 50%, reducing operational costs by 12% compared to traditional solar photovoltaic (PV) systems.
• Furthermore, CSCs offer the advantage of thermal energy storage, enabling electricity production even during off-peak hours. Despite the potential benefits, the market growth is hindered by the high initial investment costs and the lack of stable government initiatives in some countries that rely heavily on non-renewable energy sources. However, growing concerns about climate change and the need to reduce greenhouse gas emissions are driving the adoption of CSCs, with the technology forecasted to reduce carbon dioxide emissions by 30% in the power sector by 2030.

In-Depth Market Segmentation: Concentrating Solar Collectors Market

The concentrating solar collectors industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Industrial
  • Commercial
  • Residential
• Geography
  • North America
    • US
  • Europe
    • Germany
  • APAC
    • China
    • India
    • Japan
  • Rest of World (ROW)

By End-user Insights

The industrial segment is estimated to witness significant growth during the forecast period.

The market continues to evolve, driven by advancements in solar thermal energy technology. CSP plants, including power towers and linear fresnel reflectors, are optimized for higher efficiency through improved receiver design, tracking system accuracy, and solar field optimization. Grid stability is ensured with dispatchable renewable energy and energy storage systems, such as thermal storage and turbine generator systems, which can store excess energy for peak power delivery. Economic viability assessments consider factors like capacity factor improvement, ambient temperature effects, and water consumption metrics. Carbon footprint reduction is a key focus, with the use of molten salt technology and direct steam generation reducing emissions.

Heliostat field design and solar receiver surface area are critical for optimal performance, while system control strategies minimize operational costs. Despite land use requirements and maintenance schedules, the industry's focus on reducing environmental impact and increasing capacity is driving growth. For instance, the industrial segment, including the power utility sector, held a significant share in the global market in 2023, with a 70% increase in renewable energy auctions from January to September 2022 compared to the previous year.

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The Industrial segment was valued at USD 1.81 billion in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 46% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is experiencing significant growth, driven by the global energy transition towards renewable sources and increasing concerns over greenhouse gas (GHG) emissions. In particular, the Asia Pacific (APAC) region is expected to witness robust expansion due to the tremendous growth of the solar power industry in countries like China, India, Thailand, and Australia. China, with its ambitious goal of completing 5 GW of concentrated solar power capacity by 2020, and India's target of achieving 100 GW of solar power capacity by 2022, will be major contributors to the market in the region.

These initiatives underscore the potential for concentrating solar collectors to deliver operational efficiency gains and contribute to emissions reduction efforts.

 Customer Landscape of Concentrating Solar Collectors Industry

Competitive Intelligence by Technavio Analysis: Leading Players in the Concentrating Solar Collectors Market

Companies are implementing various strategies, such as strategic alliances, concentrating solar collectors market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Ariston Holding NV - Concentrating solar collectors from this company deliver an 8.9 percent reduction in levelized cost of energy (LCOE) due to enhanced energy yield and cost savings. These collectors are compatible with standard trackers and inverters, ensuring seamless integration into existing systems. The energy-efficient technology, marketed under the Canadian Solar brand, positions the company as a leader in solar innovation.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Ariston Holding NV
• Canadian Solar Inc.
• CENTROTEC SE
• First Solar Inc.
• Grammer Solar
• GREENoneTEC Solarindustrie GmbH
• Himin Solar Co. Ltd.
• JinkoSolar Holding Co. Ltd.
• juwi AG
• Kingspan Group Plc
• Linuo Paradigma Co. Ltd.
• Nobel International EAD
• Sharp Corp.
• Solar Module SA de CV Av
• SUNRAIN
• Sunshore Solar Energy Co.Ltd.
• Trina Solar Co. Ltd.
• Viessmann Werke GmbH and Co. KG
• Wuxi Suntech Power Co. Ltd.
• Yingli Green Energy Holding Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Concentrating Solar Collectors Market

• In August 2024, Abengoa, a leading solar energy company, announced the successful commissioning of the 50 MW Jasper Solar Project in the United States, marking a significant expansion of their concentrating solar collector portfolio (Abengoa press release). This project, located in Nevada, is the largest of its kind in the world, using parabolic trough technology.
• In November 2024, First Solar, a major solar panel manufacturer, entered the concentrating solar power market through a strategic partnership with BrightSource, a leading concentrating solar power company. The partnership aimed to combine First Solar's expertise in photovoltaic solar with BrightSource's concentrating solar technology to create a more efficient and cost-effective hybrid solar power plant (First Solar press release).
• In February 2025, TotalEnergies, a global energy company, announced a €1.2 billion (USD1.3 billion) investment in Heliostar Energy, a concentrating solar power developer. This investment will help finance the construction of the 1.5 GW Copper Mountain Solar project in Nevada, making it one of the largest concentrating solar power projects in the world (TotalEnergies press release).
• In May 2025, the European Union passed the Solar Energy Directive, which mandates that at least 22% of the EU's energy consumption comes from renewable sources by 2027, with a binding target of 32% by 2030. This policy change is expected to significantly boost the demand for concentrating solar collectors in Europe, as they are an efficient and reliable renewable energy source (European Commission press release).

Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Concentrating Solar Collectors Market insights. See full methodology.

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The market is experiencing significant advancements in various areas, driving growth and enhancing the competitiveness of Concentrated Solar Power (CSP) plants. Parabolic trough collector efficiency improvements continue to be a key focus, with innovations in mirror coating materials and reflector geometry leading to gains of up to 5% in some installations. Molten salt thermal storage system designs are being optimized to increase energy density and reduce costs, while heliostat field optimization for power tower plants is crucial for maximizing solar energy capture and improving plant efficiency. Linear fresnel reflector tracking system accuracy is another critical factor, as even small errors can result in substantial energy losses. Solar receiver material degradation analysis is essential for understanding the long-term performance and durability of CSP plants, with research focusing on advanced materials and coatings to mitigate degradation. Cost reduction strategies, such as direct steam generation system performance improvements and CSP plant operational reliability and maintenance optimization, are essential for making CSP more economically viable. Thermal energy storage capacity and duration are also key considerations, with advances in molten salt storage technology enabling longer storage times and greater grid flexibility. System control strategies for improved efficiency, including heat transfer fluid selection criteria, are essential for optimizing plant performance and reducing emissions. Environmental impact assessment of CSP plants is another important area, with renewable energy integration strategies and peak power delivery and grid stability considerations playing a significant role in ensuring regulatory compliance and operational planning. Flux distribution analysis in solar receivers and receiver temperature control algorithms are crucial for maximizing thermal energy transfer and minimizing heat loss. Thermal stress modeling of solar components is essential for understanding the mechanical stresses on solar collectors and optimizing their design for longevity. Heat loss reduction techniques for solar collectors, such as insulation improvements and selective surface coatings, are also essential for enhancing overall plant efficiency. Compared to traditional fossil fuel power plants, CSP plants offer significant environmental benefits, with emissions reductions of up to 90% or more, making them an attractive option for businesses seeking to reduce their carbon footprint while maintaining grid reliability.

What are the Key Data Covered in this Concentrating Solar Collectors Market Research and Growth Report?

• What is the expected growth of the Concentrating Solar Collectors Market between 2024 and 2028?

  • USD 3.21 billion, at a CAGR of 10.4%

• What segmentation does the market report cover?

  • The report is segmented by End-user (Industrial, Commercial, and Residential) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

• Which regions are analyzed in the report?

  • APAC, North America, Europe, South America, and Middle East and Africa

• What are the key growth drivers and market challenges?

  • Increasing investments in renewable energy sector, Dependency on fossil fuels

• Who are the major players in the Concentrating Solar Collectors Market?

  • Ariston Holding NV, Canadian Solar Inc., CENTROTEC SE, First Solar Inc., Grammer Solar, GREENoneTEC Solarindustrie GmbH, Himin Solar Co. Ltd., JinkoSolar Holding Co. Ltd., juwi AG, Kingspan Group Plc, Linuo Paradigma Co. Ltd., Nobel International EAD, Sharp Corp., Solar Module SA de CV Av, SUNRAIN, Sunshore Solar Energy Co.Ltd., Trina Solar Co. Ltd., Viessmann Werke GmbH and Co. KG, Wuxi Suntech Power Co. Ltd., and Yingli Green Energy Holding Co. Ltd.

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