Parabolic Trough Concentrated Solar Power (CSP) Market Analysis, Size, and Forecast 2024-2028:
North America (US), Europe (France, Germany, and Spain), APAC (China), and Rest of World (ROW)

Parabolic Trough Concentrated Solar Power (CSP) Market Size 2024-2028

The parabolic trough concentrated solar power (csp) market size is forecast to increase by USD 596.7 million, at a CAGR of 2.06% between 2023 and 2028.

• The market is driven by the global shift towards renewable energy sources and the increasing adoption of solar thermal technology for enhanced oil recovery. The energy mix is evolving, with a growing emphasis on sustainable and clean energy solutions. CSP, specifically parabolic trough systems, offer a unique value proposition, as they can generate electricity and provide thermal energy for industrial processes. However, the market faces significant challenges. Competition from alternative sources of renewable energy, such as photovoltaic (PV) solar panels, continues to intensify. PV systems have seen rapid cost reductions and technological advancements, making them increasingly competitive in the energy market.
• Furthermore, the intermittency of solar energy remains a challenge for CSP, necessitating energy storage solutions or a reliable grid infrastructure to ensure consistent power generation. Addressing these challenges will require continued innovation and collaboration among industry players, regulatory bodies, and research institutions. Companies seeking to capitalize on the opportunities in the Parabolic Trough CSP market must focus on improving efficiency, reducing costs, and addressing energy storage and grid integration challenges.

What will be the Size of the Parabolic Trough Concentrated Solar Power (CSP) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.  
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Concentrated Solar Power (CSP) market dynamics continue to evolve as this sustainable energy technology unfolds new applications across various sectors. Parabolic trough collectors, a key component of CSP systems, consume water for cooling purposes during power generation. Solar energy policy and land use regulations significantly impact the market, influencing the location and design of CSP power plants. Power generation through CSP relies on solar irradiance and thermal energy storage, primarily using molten salt, to ensure consistent power output. Steam turbines convert thermal energy into electricity, while performance optimization and industrial process heat applications enhance the technology's efficiency and versatility.

Construction and project development in the CSP industry require careful consideration of capital and operational expenditures. Solar tracking systems and optical efficiency enhancements contribute to improved technology advancements, including the Organic Rankine Cycle and hybrid energy systems. Grid integration and government incentives are crucial for market penetration and growth. Carbon emissions reduction and clean energy initiatives further fuel the demand for CSP technology. Maintenance and operation costs, as well as power plant design and thermal efficiency, remain essential factors in the industry trends. The future outlook for CSP technology is promising, with advancements in heat transfer fluids, thermal storage, and solar field design continuing to drive innovation.

The environmental impact of CSP is a significant consideration, with ongoing efforts to minimize water consumption and reduce land use. In the ever-changing landscape of renewable energy, CSP technology continues to adapt and evolve, offering a sustainable and efficient solution for power generation and industrial process heat applications.

How is this Parabolic Trough Concentrated Solar Power (CSP) Industry segmented?

The parabolic trough concentrated solar power (csp) 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.

• Capacity
  • Less than or equal to 50 MW
  • More than 50 MW
• Type
  • U-shape
  • V-shape
• Geography
  • North America
    • US
  • Europe
    • France
    • Germany
    • Spain
  • APAC
    • China
  • Rest of World (ROW). 

By Capacity Insights

The less than or equal to 50 mw segment is estimated to witness significant growth during the forecast period.

The market has experienced notable growth in the less than or equal to 50 MW segment, focusing on flexible small-scale energy solutions. This segment caters to businesses and residential areas, offering advantages such as installation in various locations, including urban areas. The scarcity of suitable land for power generation in several countries is a significant challenge, making small-scale CSP plants an appealing alternative. CSP technology, which includes Parabolic Trough collectors, harnesses solar energy through mirrors that focus sunlight onto a receiver, generating heat. This heat is then used to produce steam, which drives a turbine to generate electricity. Solar irradiance plays a crucial role in the performance of these systems, with optimal efficiency achieved under high solar radiation.

Government incentives and solar energy policies have been instrumental in driving market penetration and the adoption of CSP technology. Industrial process heat applications, such as steam generation for manufacturing industries, are a growing trend, contributing to the market's expansion. Performance optimization and advancements in technology, including solar tracking systems, optical efficiency, and the Organic Rankine cycle, have led to increased thermal efficiency and power output. Thermal energy storage, primarily through molten salt, enables CSP plants to provide consistent power generation and grid integration. The market's future outlook is promising, with hybrid energy systems and the integration of renewable energy sources becoming increasingly prevalent.

Sustainable energy initiatives, carbon emissions reduction targets, and the need for clean energy are key industry drivers. Maintaining and operating CSP plants involves regular upkeep, including the replacement of construction materials and heat transfer fluids. Direct steam generation and the use of efficient power plant designs contribute to lower operational expenditures. The evolving market dynamics include the development of new projects, capital expenditures, and the environmental impact assessment of CSP plants. Despite challenges, the market's potential for growth and its role in providing clean, renewable energy make it an exciting area for innovation and expansion.

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The Less than or equal to 50 MW segment was valued at USD 3624.20 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 29% 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 European Union (EU) is at the forefront of increasing renewable energy usage in power generation, with Europe anticipated to experience the most significant growth during the forecast period. This growth can be attributed to the parabolic trough CSP targets set by several EU countries, including Spain, Italy, and France. Spain and Italy have committed to a 2030 binding renewable energy target surpassing 30%, while France has established solar power goals of 20.1 GW by 2023 and 31.1-44.0 GW by 2028. The solar PV objectives of the leading European countries, namely, Germany, Italy, the UK, France, and Spain, are poised to boost the adoption of parabolic trough CSP systems.

Parabolic trough collectors, a crucial component of CSP technology, play a significant role in this transition. These collectors concentrate solar irradiance, converting it into heat, which is then used to generate steam. The steam, in turn, drives a turbine connected to a generator, producing electricity. The thermal energy generated can also be used for industrial process heat, further increasing the technology's appeal. Land use for solar energy installations and performance optimization are essential considerations in the development of CSP projects. Solar tracking systems and optical efficiency enhancements are essential for maximizing energy yield. The Organic Rankine cycle and thermal storage technologies are vital for improving thermal efficiency and grid integration.

Government incentives, such as subsidies and tax credits, are crucial for the market's growth. The EU's Renewable Energy Directive and the European Investment Bank's financing initiatives are significant drivers. The future outlook for concentrated solar power is promising, with advancements in technology, including the use of molten salt as a heat transfer fluid and energy storage solutions, enabling the integration of CSP with hybrid energy systems. Project development, capital expenditure, and operational expenditure are essential aspects of the CSP market. Maintenance and operation are crucial for ensuring the longevity and efficiency of CSP power plants. Renewable energy sources, including solar thermal energy, are becoming increasingly important in reducing carbon emissions and addressing environmental impact concerns.

The industry trends towards sustainable energy and clean energy solutions are expected to continue shaping the market dynamics.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Parabolic Trough Concentrated Solar Power (CSP) Industry?

• The shift in energy mix is the primary influencing factor in the market dynamics. 

• The global market for Parabolic Trough Concentrated Solar Power (CSP) is experiencing significant growth due to the increasing demand for clean and efficient energy sources. With urbanization leading to increased power consumption and the negative environmental impact of fossil fuels, there is a pressing need for renewable energy solutions. Renewable energy, including solar thermal energy through Parabolic Trough CSP, is becoming increasingly competitive with conventional power generation. Although the initial capital expenditure for CSP power plants is higher than traditional power plants, the operational expenditure is lower due to the reduced need for fuel and maintenance. Moreover, the environmental impact of CSP is minimal, making it an attractive option for project developers.
• The use of advanced power plant designs, thermal efficiency improvements, and the adoption of robust construction materials further enhances the competitiveness of CSP. These factors are driving continuous investments in this sector, making it a promising area for businesses looking to contribute to a sustainable energy future.

What are the market trends shaping the Parabolic Trough Concentrated Solar Power (CSP) Industry?

• Solar thermal enhanced oil recovery is gaining significant traction in the energy industry as an emerging market trend. This innovative technique enhances the extraction of oil from reservoirs using solar energy, contributing to increased efficiency and reduced environmental impact.

• Parabolic trough Concentrated Solar Power (CSP) technology plays a significant role in power generation and industrial process heat applications. This technology utilizes mirrors shaped like troughs to concentrate solar irradiance onto a tube filled with water, generating steam that drives a steam turbine. Water consumption is minimal in this process, making it an eco-friendly alternative to traditional power generation methods. Solar energy policy incentives and the increasing demand for sustainable energy sources are driving the growth of the Parabolic trough CSP market. Land use for solar farms is a critical consideration in the construction of Parabolic trough CSP power plants.
• Performance optimization techniques, such as tracking systems and reflectivity enhancement, ensure maximum energy yield from the solar collectors. The market for Parabolic trough CSP technology is expected to continue growing due to its ability to provide stable and consistent power output, even during periods of low solar irradiance. Industrial process heat applications, such as solar thermal enhanced oil recovery (EOR), are another significant market for Parabolic trough CSP technology. In this application, the steam generated from the solar collectors is used to heat heavy oil, reducing its viscosity and increasing the amount of oil that can be recovered.
• The three common steam injection methods used in this process are continuous steam injection, steam-assisted gravity drainage (SAGD), and cyclic steam stimulation (CSS). Overall, the Parabolic trough CSP market offers a promising solution for sustainable power generation and industrial process heat applications.

What challenges does the Parabolic Trough Concentrated Solar Power (CSP) Industry face during its growth?

• The expansion of the renewable energy sector poses a significant challenge to the growth of the traditional energy industry, as increasing competition from alternative energy sources threatens to erode market share and profitability. 

• Concentrated Solar Power (CSP) technology, a sustainable energy solution, has been gaining traction in the global energy market despite stiff competition from other sources like wind, fossil fuels, and hydropower. Solar tracking systems and optical efficiency enhancements have significantly improved the power output of CSP plants, making them more competitive. The Organic Rankine cycle, a thermodynamic process used in CSP systems, has also contributed to their efficiency and grid integration capabilities. Government incentives and policies have been instrumental in driving the growth of the CSP market. For instance, the US Department of Energy has set a goal to deploy 10 GW of CSP capacity by 2030.
• Molten salt storage technology, which enables CSP systems to generate electricity even during non-sunlight hours, further enhances their value. Looking ahead, the future outlook for CSP is promising, with advancements in technology and increasing focus on renewable energy sources. The integration of CSP with other energy sources, such as wind and natural gas, is expected to create new opportunities for the industry. As the world transitions to cleaner energy sources, CSP is poised to play a significant role in meeting the global energy demand while reducing greenhouse gas emissions.

Exclusive Customer Landscape

The parabolic trough concentrated solar power (csp) market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the parabolic trough concentrated solar power (csp) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, parabolic trough concentrated solar power (csp) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Abengoa SA - The company specializes in the deployment of advanced parabolic trough concentrated solar power (CSP) technologies, including PS10 and Gemasolar. Leveraging cutting-edge engineering and design, we deliver sustainable energy solutions that maximize thermal efficiency and minimize environmental impact. Our CSP systems harness the power of the sun to generate electricity, providing a reliable and renewable energy source. By focusing on innovation and efficiency, we contribute to a cleaner, more sustainable future for all.

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

• Abengoa SA
• Absolicon Solar Collector AB
• AGC Inc.
• ALANOD GmbH and Co. KG
• Atlantica Sustainable Infrastructure plc
• Carl Zeiss Stiftung
• Changzhou Longteng Photothermal Technology Co. Ltd.
• Greenville Energy and Research Inc.
• Grupo Ibereolica Renovables
• HELIOVIS AG
• Industrial Fabricators
• Jetstream Energy Technologies Inc.
• Lanzhou Dacheng Technology Co. Ltd.
• Masdar
• Parvolen CSP Technologies
• SENER GRUPO DE INGENIERIA SA
• Solabolic Gmbh
• Solar Dynamics LLC
• Solarlite CSP Technology GmbH
• SOLTIGUA SRL

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 Parabolic Trough Concentrated Solar Power (CSP) Market

• In March 2024, Abengoa, a leading solar technology company, announced the successful commissioning of the 50 MW Jasper Solar 1 project in the United States, marking a significant expansion of their parabolic trough CSP portfolio (Abengoa Press Release, 2024). This project, located in California, is expected to generate over 150 GWh of renewable energy annually.
• In July 2024, SolarReserve and TotalEnergies, two major players in the CSP industry, announced a strategic partnership to develop and construct a 1 GW CSP project in Egypt. This collaboration represents a significant geographic expansion for both companies and underscores the growing global demand for renewable energy solutions (TotalEnergies Press Release, 2024).
• In January 2025, BrightSource, a CSP technology innovator, secured a USD1.3 billion investment from a consortium led by SoftBank's Vision Fund. This substantial funding round will enable BrightSource to accelerate the development and deployment of their advanced CSP technologies (BrightSource Press Release, 2025).
• In March 2025, the Spanish government approved the construction of the 500 MW Sorex Solar Project, the largest parabolic trough CSP plant in Europe. This project, which is expected to create over 2,000 jobs, is a key component of Spain's ambitious renewable energy expansion plans (Spanish Ministry for the Ecological Transition and the Demographic Challenge, 2025).

Research Analyst Overview

• The solar energy market continues to evolve, with concentrated solar power (CSP) playing a significant role in its growth. Solar energy policy and regulation significantly impact the industry, shaping the deployment and development of solar energy systems. Solar energy research and innovation, particularly in solar thermal technology, drive efficiency gains and cost reductions. Solar energy sustainability is a key consideration, with solar energy storage solutions addressing grid integration challenges. Solar energy costs remain a critical factor, with economies of scale and technological advancements driving down prices. Solar energy infrastructure development requires careful planning and investment to maximize opportunities and minimize challenges.
• Renewable energy sources, including solar energy, offer immense potential to reduce greenhouse gas emissions and mitigate climate change. Solar energy applications span various sectors, from power generation to industrial processes and transportation. The solar energy industry faces challenges such as intermittency and energy storage, but the future looks bright with ongoing research and technological advancements. Solar energy systems, including CSP, provide numerous benefits, including energy security, environmental sustainability, and economic growth. Solar energy economics remain a focus, with ongoing debates about the levelized cost of energy and the role of government subsidies. The solar energy industry's future depends on continued innovation, policy support, and investment to overcome challenges and unlock new opportunities.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Parabolic Trough Concentrated Solar Power (CSP) Market insights. See full methodology.

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What are the Key Data Covered in this Parabolic Trough Concentrated Solar Power (CSP) Market Research and Growth Report?

• CAGR of the Parabolic Trough Concentrated Solar Power (CSP) industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across Europe, North America, APAC, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the parabolic trough concentrated solar power (csp) market growth of industry companies

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