The global concentrated solar power market will see robust growth over the next five years, according to an analysis by Transparency Market Research.
Between now and then the market with rise by a combined annual growth rate of 19.4 percent, the analysts say.
Concentrated solar power is divided into three parts that are power block, solar field, and thermal energy storage.
The global concentrated solar power market for product segment is classified as per the technologies being used for power generation. Some of the technologies are parabolic trough, dish stirling, linear fresnel, and solar tower.
Of these technologies, the parabolic trough technology is believed to be the most advanced and best supported by technological infrastructure.
After its latest look at the CSP industry, Transparency Market Research concludes the sector is experiencing rapid growth, and then trend will continue for the foreseeable future.
The researchers believe Europe will be a prime mover behind the growth, followed by North America.