Concentrating Solar Collectors Market is Expected to grow at a robust CAGR of 10.84% through 2030F
Concentrating Solar Collectors Market is increasing due to
rising demand for reliable, long-lasting power sources in consumer electronics
and household devices during the forecast period 2026-2030F.
According to TechSci Research report, “Concentrating Solar Collectors
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2020-2030F”, The Global Concentrating
Solar Collectors Market was valued at USD 3.36 billion in 2024 and is expected
to reach USD 6.47 billion by 2030 with a CAGR of 10.84% during the forecast
period.
The expansion of concentrating solar power in emerging
markets, particularly in sun-rich regions, is a key driver for the
Concentrating Solar Collectors Market, as these economies seek to meet growing
energy demands sustainably. Countries in Africa, the Middle East, and South
America, with high direct normal irradiance, are ideal for CSP deployment,
offering cost-effective energy solutions. For instance, South Africa’s
Renewable Energy Independent Power Producer Procurement Program has driven 600
megawatts of CSP capacity, supporting economic growth and job creation.
Emerging markets benefit from CSP’s ability to provide
baseload power and support off-grid applications, such as rural electrification
and water purification. International partnerships, like China’s investment in
North African CSP projects, facilitate technology transfer and financing.
Declining CSP costs, with capital expenditure dropping 68% for solar towers
since 2010, enhance affordability in these markets. However, challenges like
limited technical expertise and financing constraints require capacity-building
initiatives. As emerging economies prioritize renewable energy to address
energy access and climate goals, the Concentrating Solar Collectors Market
benefits from increased project pipelines and regional cooperation.
In 2024, the African Development Bank reported 800
megawatts of CSP capacity under construction in Sub-Saharan Africa, with South
Africa and Morocco contributing 70%. By 2030, emerging markets are expected to
add 5 gigawatts of CSP, supporting 10 million households with clean energy, per
IRENA estimates.
Technological complexity is a persistent and
multifaceted challenge in the concentrating solar collectors market, affecting
everything from project planning and execution to long-term operations and
maintenance. Unlike conventional photovoltaic systems, concentrating solar
collector systems involve advanced components such as precision-aligned
mirrors, sun-tracking heliostats, high-efficiency receivers, heat transfer
fluids, thermal energy storage systems, and turbine-based power generation
units. Coordinating these components to operate in harmony demands a high
degree of engineering sophistication, rigorous quality control, and continuous
monitoring.
One of the major hurdles is the integration of
concentrating solar collector systems into existing energy infrastructure.
Traditional electricity grids are typically designed for predictable,
centralized energy sources such as coal or gas, and even newer smart grids are
primarily optimized for photovoltaic and wind energy. Integrating a
thermal-based, dispatchable solar energy source requires customized grid
interface solutions, control systems, and communication protocols. Furthermore,
the lack of standardization across different concentrating solar technologies
and components complicates maintenance and scalability.
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Based on By End-Use Industry, the industrial
segment emerged as the dominant end-use industry in the global concentrating
solar collectors market and is anticipated to maintain its leadership
throughout the forecast period. This dominance is primarily attributed to the
high thermal energy demand across a wide range of industrial processes,
particularly in sectors such as mining, food and beverages, chemicals, and
textiles. Industries are increasingly seeking sustainable and cost-effective
alternatives to fossil fuels for medium and high-temperature heat applications,
making concentrating solar collectors a viable and attractive option.
Additionally, with rising global concerns over carbon
emissions and pressure to decarbonize industrial operations, large-scale
manufacturing facilities are actively adopting solar thermal technologies to
comply with environmental regulations and meet corporate sustainability
targets. Concentrating solar collectors are well-suited for integration into
industrial operations due to their scalability, thermal storage capabilities,
and ability to generate consistent thermal output. Countries such as India, China,
South Africa, and Spain have witnessed an uptick in industrial deployment of
solar thermal systems supported by government incentives, clean energy
mandates, and innovative financing mechanisms.
Moreover, hybridization of concentrating solar
collectors with conventional boilers and process heat systems is gaining
traction, as it enables industries to reduce fuel costs while improving energy
efficiency. The technological advancements in collector design, tracking
mechanisms, and thermal energy storage systems have further enhanced the
viability and reliability of solar thermal solutions for industrial
applications. Collaborations between solar technology providers and industrial
firms have also accelerated the commercialization of customized solar thermal
projects. As industries continue to seek cleaner energy solutions and energy
cost savings, the industrial segment is expected to remain the largest consumer
of concentrating solar collector systems globally, thereby driving the overall
growth of the market during the forecast period.
Asia Pacific emerged as the fastest growing region in
the global concentrating solar collectors market in 2024 and is projected to
maintain this momentum during the forecast period. This robust growth is
primarily driven by the region’s rising energy demand, rapid industrialization,
and increasing emphasis on renewable energy adoption to reduce dependence on
fossil fuels. Countries such as China, India, Japan, and Australia are at the
forefront of this expansion, each implementing large-scale solar thermal projects
to meet their national climate goals and reduce carbon emissions. China, in
particular, has aggressively invested in concentrated solar power
infrastructure, commissioning several gigawatt-scale solar thermal plants
equipped with energy storage capabilities, positioning itself as a global
leader in concentrating solar technologies. India is following closely, with
strong policy frameworks under initiatives like the National Solar Mission and
dedicated funding for solar thermal integration into industrial and rural
heating applications.
Additionally, Asia Pacific benefits from abundant
solar irradiance, especially in arid and semi-arid regions, which is a critical
requirement for efficient concentrating solar collector performance.
Governments across the region have introduced favorable incentives, including
subsidies, feed-in tariffs, and land availability for solar parks, which have
accelerated project implementation.
Technological collaborations between local
manufacturers and international solar firms have also enhanced access to
high-efficiency components and engineering expertise. Furthermore, the growing
awareness among industries about reducing operational costs and transitioning
to sustainable energy sources has led to increased deployment of concentrating
solar collectors in industrial sectors such as food processing, chemicals, and
textiles.
The region's strategic focus on renewable energy,
coupled with economic growth, infrastructural development, and supportive
regulatory mechanisms, has firmly established Asia Pacific as the fastest
growing regional market. This trend is expected to continue, positioning the
region as a major hub for solar thermal technology adoption and innovation over
the coming years.
Key market players in the Global Concentrating
Solar Collectors market are: -
- Abengoa Solar
- BrightSource Energy
- Aalborg CSP
- ACWA Power
- SENER Group
- GlassPoint Solar
- TSK Flagsol Engineering
GmbH
- SolarReserve
- SCHOTT Solar AG
- Rackam
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“The concentrating solar collectors
market is poised for substantial growth, driven by declining system costs,
advances in thermal storage, and global decarbonization targets. Integration of
thermal energy storage enables reliable, dispatchable solar power, making these
systems competitive against conventional generation. Growth is further
supported by increasing demand from industries for high-temperature process
heat and by utility-scale projects in high-irradiance regions. Policy
incentives, hybridization with photovoltaics or natural gas plants, and continued
R&D in materials and tracking technologies will enhance system performance
and bankability. Consequently, the market is entering a maturing phase marked
by scalable deployment, broader regional adoption, and stronger industrial
utilization.” said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based Global management consulting firm.
“Concentrating Solar Collectors Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, Segmented By Type (Parabolic Trough, Fresnel
Reflector, Dish Stirling, Solar Tower), By Technology (Concentrating Solar
Power (CSP), Concentrating Photovoltaics (CPV)), By End-Use Industry (Residential,
Commercial, Industrial), By Region, and By Competition, 2020-2030F,” has evaluated the future
growth potential of Global Concentrating Solar Collectors Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Concentrating Solar Collectors Market.
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