The global concentrated solar power market size was valued at USD 8.13 billion in 2024 and is projected to reach USD 12.58 billion by 2030, growing at a CAGR of 7.1% from 2025 to 2030. This steady growth is primarily driven by increasing global awareness of environmental issues and the urgent need to reduce carbon emissions. CSP technology, which harnesses solar energy to generate clean and sustainable power, is gaining traction as a viable solution in the transition towards a low-carbon energy future.

A significant factor supporting this expansion is the growing implementation of government incentives and policies worldwide that encourage investments in renewable energy infrastructure. These measures include feed-in tariffs, tax credits, subsidies, and other financial incentives that reduce the cost and risk associated with CSP project development. Alongside favorable policy frameworks, ongoing technological advancements and cost reductions in key CSP components—such as solar mirrors, receivers, and thermal energy storage systems—are enhancing the overall efficiency and economic competitiveness of CSP compared to traditional fossil fuel-based energy sources.

Government regulations and initiatives continue to play a pivotal role in shaping the trajectory of the CSP market. In the United States, the Investment Tax Credit (ITC) has been a major catalyst, offering a 30% tax credit for solar energy systems, including CSP installations, with the credit extended through 2023 to encourage further adoption. Additionally, international mechanisms like the Clean Development Mechanism (CDM) under the Kyoto Protocol support CSP projects by enabling developed nations to invest in renewable energy ventures in developing countries and earn carbon credits, thus promoting global cooperation in combating climate change.

In India, targeted policies such as the National Action Plan on Climate Change (NAPCC) and the Jawaharlal Nehru National Solar Mission (JNNSM) are instrumental in fostering the growth of CSP technology. These initiatives emphasize the deployment of renewable energy solutions, including CSP, to meet the country's increasing energy demand sustainably while reducing greenhouse gas emissions.

Together, these policy frameworks, technological innovations, and growing environmental imperatives are expected to drive substantial growth and widespread adoption of concentrated solar power technologies across the globe in the coming years.

Key Market Trends & Insights:

• In 2024, North America emerged as the dominant region in the global concentrated solar power (CSP) market, commanding a significant revenue share of 28.9%. This leadership position is attributed to well-established renewable energy infrastructure, substantial government support, and ongoing investments in large-scale CSP projects across the region.

• Meanwhile, the Asia Pacific region is projected to experience the fastest growth in the concentrated solar power market throughout the forecast period. Factors such as increasing energy demand, favorable government policies, expanding industrialization, and rising investments in clean energy technologies are expected to accelerate the adoption of CSP solutions in countries like China, India, and Australia.

• When analyzed by technology type, the parabolic trough segment held the largest share of the market in 2024, accounting for 81.3% of total revenue. This is largely due to the parabolic trough’s proven efficiency, reliability, and widespread use in commercial CSP plants globally, making it the preferred choice among investors and developers.

• In terms of application, the utilities segment dominated the global CSP market in 2024. Utility-scale projects remain the primary consumers of CSP technology, leveraging the large-scale generation capacity of CSP plants to supply clean, renewable electricity to the grid and meet growing energy demands while reducing carbon emissions.

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Market Size & Forecast:

• 2024 Market Size: USD 8.13 Billion

• 2030 Projected Market Size: USD 12.58 Billion

• CAGR (2025-2030): 7.1%

• North America: Largest market in 2024

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

Several prominent companies play a crucial role in shaping the global concentrated solar power (CSP) market, including Abengoa, BrightSource Energy, Inc., Siemens Energy, Acciona, and Aalborg CSP.

Among these, Abengoa stands out as a leading player recognized for its innovative approach to solar thermal technologies and its execution of large-scale CSP projects worldwide. The company has been instrumental in developing numerous high-profile CSP plants across different regions. A key focus for Abengoa is the integration of advanced energy storage solutions, which significantly improve the overall efficiency, reliability, and dispatchability of their solar power systems, allowing for more consistent energy supply even when sunlight is unavailable.

Aalborg CSP, on the other hand, specializes in providing customized and highly efficient solutions specifically designed for the concentrated solar power market. Their expertise lies in enhancing the operational performance of CSP systems by incorporating cutting-edge thermal energy storage technologies. Additionally, Aalborg CSP is committed to optimizing the integration of CSP with other renewable energy sources, thereby contributing to more sustainable and versatile clean energy infrastructures.

Together, these companies, along with other key players like BrightSource Energy, Siemens Energy, and Acciona, are driving technological advancements and expanding the adoption of CSP technologies globally, supporting the transition toward cleaner and more sustainable energy systems.

Key Players

• Abengoa

• BrightSource Energy, Inc.

• Siemens Energy

• Acciona

• Aalborg CSP

• TSK Fl

• ACWA POWER

• INITEC Energía

• Torresol Energy

• Enel Spa

• Trivelli Energia srl

• Grün leben GmbH

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Conclusion:

The concentrated solar power market is poised for significant growth driven by increasing global emphasis on clean energy solutions and reducing carbon emissions. Technological advancements, supportive government policies, and declining costs are making CSP more competitive with conventional energy sources. With rising investments in utility-scale projects and expanding adoption in emerging regions, the CSP market is expected to play a crucial role in the global transition toward sustainable energy over the coming years.