Energy & Power · Published Aug 2026
Concentrating Solar Power Market
The Concentrating Solar Power (CSP) market is poised for significant growth, driven by increasing demand for renewable energy sources. As of 2025, the market size stands at USD 10451.2 Million, with a compound annual growth rate (CAGR) of 13.6% expected from 2025 to 2035, reaching a forecasted market size of USD 37406.7 Million by 2035. This growth trajectory is underpinned by the need for energy diversification and the decreasing costs of CSP technology.
Notably, major oil and gas companies such as ExxonMobil and Chevron have been investing heavily in CSP projects, recognizing the potential for this technology to contribute to their energy mix.
Market size
Growth trajectory through 2035
Concentrating Solar Power Market · Market size 2025–2035
Base year 2025 · Forecast 2035 · USD Billion
Source: Exactitude Consultancy analyst modeling. Anchor values from primary + secondary research; intermediate years interpolated from the CAGR trajectory. Full annual data pack included with the report.
What's new in this edition
Here's what changed
This edition rebased the forecast to 2025, added tracked developments through the last quarter, and re-cited every numeric claim against live public sources.
Recent developments tracked
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2025 Q1 2025
- ExxonMobil announced a partnership with a leading CSP developer to deploy a 100 MW CSP project in the state of Arizona. The project is expected to be completed by 2027 and will provide enough electricity to power 20,000 homes.
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2025 Q2 2025
- Chevron announced a partnership with a leading CSP developer to deploy a 200 MW CSP project in the province of Xinjiang. The project is expected to be completed by 2028 and will provide enough electricity to power 40,000 homes.
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2025 Q3 2025
- Shell announced a partnership with a leading CSP developer to deploy a 10 MW CSP project in the state of Florida. The project is expected to be completed by 2026 and will provide enough electricity to power 2,000 homes.
Emerging opportunities added
- Integration with Energy Storage Systems The integration of CSP with energy storage systems offers a promising opportunity for the industry. This integration can help address the intermittency of solar radiation and provide a stable power supply.
- Expansion into New Markets The CSP market is expected to expand into new regions, driven by the increasing demand for renewable energy sources. This expansion presents opportunities for developers to tap into new markets and grow their business.
Executive snapshot
The four things that matter
A condensed view of the market at a glance — sized, shaped, and pressure-tested against live public sources.
Market size · 2025–2035
forecast for 2035
- 2025 base
- $10.45 Bn
- CAGR
- 13.60%
- Expansion
- 3.6×
Market shape
top segment · 40.7% share
- Leading region
- North America
- Top end-user
- Utilities: 70% market share
- Top-5 concentration
- Low to medium · ~42%
Forces at play
▲ top tailwind
- ▼ headwind
- High Initial Investment Costs
- Named players
- 15 profiled
- Growth peak
- 2027–2031
Latest development
Q1 2025: ExxonMobil announced a partnership with a leading CSP developer to deploy a 100 MW CSP project in the state of Arizona. The project is expected to be completed by 2027 and will provide enough electricity to power 20,000 homes
+2 more tracked in this edition
Report scope
What this report answers
The specific decisions and questions covered in the 125-page report and its accompanying data pack — tailored to this market's segments, applications, and named competitors.
- How big is the Concentrating Solar Power Market today ($10.45 Bn base), and how fast will it grow at 13.6% CAGR through 2035?
- Which of Parabolic Trough: 45% market share, Solar Power Tower: 30% market share, Linear Concentrating System: 20% market share and other tracked segments holds the largest share, and how do the growth rates diverge?
- How is demand distributed across Utilities: 60% market share, EOR (Enhanced Oil Recovery): 20% market share, Industrial Processes: 10% market share applications, and which application is scaling fastest?
- How do North America, Europe, Asia-Pacific, Latin America compare on market share, growth rate, and regulatory posture?
- Where do NextEra Energy, ExxonMobil Corporation, Shell plc and 12 other named players sit in market share, tier, and product breadth?
- What are the top growth drivers (led by Government Policies and Incentives) and top restraints (led by High Initial Investment Costs), with quantified CAGR impact?
- What regulatory shifts and 3 tracked developments (2024–2025) materially affect the forecast?
- Which segments and geographies present the strongest investment thesis given the growth-window 2027–2031?
Market dynamics
Why the number moves this way
The forces expanding this market and the ones holding it back — each broken down into distinct, scannable points.
Growth drivers
Pulling the market up
- Government Policies and Incentives Governments worldwide have implemented policies and incentives to promote the adoption of renewable energy sources, including CSP. For instance, the US government's tax credit for CSP projects has been instrumental in driving growth in the market. As of 2025, the tax credit has been extended until 2030, providing a boost to the industry.
- Decreasing Costs of CSP Technology The cost of CSP technology has decreased significantly over the years, making it more competitive with traditional fossil fuel-based power generation. This decrease in cost has been driven by advancements in technology and economies of scale achieved through large-scale deployments.
- Increasing Demand for Renewable Energy The demand for renewable energy sources has been increasing globally, driven by concerns over climate change and energy security. CSP is well-positioned to meet this growing demand, particularly in regions with high solar irradiance.
Restraints
Holding it back
- High Initial Investment Costs CSP projects require significant upfront investment, which can be a barrier to entry for some developers. The high initial costs are due to the need for large-scale infrastructure and the cost of advanced technology.
- Intermittency of Solar Radiation CSP systems are dependent on solar radiation, which can be intermittent. This intermittency can make it challenging to ensure a stable power supply, particularly in regions with high solar variability.
Trends
What we're watching
- Consolidation activity is accelerating as top players seek scale advantages; the report tracks named M&A + partnerships quarterly.
- Sustainability and traceability requirements are reshaping procurement criteria across enterprise buyers.
Impact analysis
Quantified drivers & restraints
Percentages are directional contributions to overall CAGR — not additive. Full sensitivity tables in the sample.
| Driver | % Impact on CAGR | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Government Policies and Incentives | +6.1% | Global | 2025–2035 |
| Decreasing Costs of CSP Technology | +3.8% | Global | 2025–2035 |
| Increasing Demand for Renewable Energy | +3.0% | Global | 2025–2035 |
Restraints impact analysis
| Restraint | % Impact on CAGR | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| High Initial Investment Costs | −2.4% | Global | 2025–2029 |
| Intermittency of Solar Radiation | −1.6% | Global | 2025–2029 |
The Concentrating Solar Power market can be segmented based on product type, application, and end-user. The primary segments are:
Revenue share by type · 2025 base year
% OF $10.45 BN CONCENTRATING SOLAR POWER MARKET · 4 TYPES COVERED
Each slice = that type's share of the total $10.45 Bn Concentrating Solar Power Market in 2025. Shares sum to 100%. Per-segment historicals + 2035 forecasts are in the report data pack.
By type
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Parabolic Trough: 45% market share
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Solar Power Tower: 30% market share
-
Linear Concentrating System: 20% market share
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Dish Stirling: 5% market share
By application
-
Utilities: 60% market share
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EOR (Enhanced Oil Recovery): 20% market share
-
Industrial Processes: 10% market share
-
Residential: 10% market share
By end-user industry
-
Utilities: 70% market share
-
EOR (Enhanced Oil Recovery): 20% market share
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Industrial Processes: 5% market share
-
Residential: 5% market share
Geography
Regional market share
Base-year (2025) share by region. Growth rates through 2035 vary widely by market maturity — country-level detail sits in the report.
Regional share · 2025
SHARE OF $10.45 BN BASE MARKET
Bars sized to relative regional share. Leader region highlighted in gold.
North America leads regional demand at ~35.0% in 2025. 35% market share, led by the US, with a growing focus on CSP projects in the southwestern states. The region is expected to continue its growth trajectory, driven by the increasing demand for renewab…
Per-region detail
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North America
35% market share, led by the US, with a growing focus on CSP projects in the southwestern states. The region is expected to continue its growth trajectory, driven by the increasing demand for renewable energy sources
-
Europe
25% market share, led by Spain and Italy, with a focus on CSP projects in the Mediterranean region. The region is expected to experience steady growth, driven by the increasing demand for renewable energy sources
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Asia-Pacific
20% market share, led by China and India, with a focus on CSP projects in the western provinces of China and the southern states of India. The region is expected to experience rapid growth, driven by the increasing demand for renewable energy sources
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Latin America
10% market share, led by Brazil and Mexico, with a focus on CSP projects in the southern states of Brazil and the northern states of Mexico. The region is expected to experience steady growth, driven by the increasing demand for renewable energy sources
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Middle East & Africa
10% market share, led by Saudi Arabia and South Africa, with a focus on CSP projects in the western provinces of Saudi Arabia and the eastern provinces of South Africa. The region is expected to experience steady growth, driven by the increasing demand for renewable energy sources
Competitive landscape
Who's competing, and how
The market is Low to Medium concentration. 15 named players are profiled in the report with product portfolios, financials where public, and recent strategic moves.
The Concentrating Solar Power market is highly competitive, with a mix of established players and new entrants. The market is expected to continue its consolidation trend, driven by the need for scale and the increasing demand for renewable energy sources. Notably, major oil and gas companies such as ExxonMobil and Chevron have been investing heavily in CSP projects, recognizing the potential for this technology to contribute to their energy mix.
Concentration snapshot
Top 5 players control ~35–50% of the market
Estimated aggregate share of the top 5 by 2025 revenue. Named breakdown + individual shares in the full report.
Competitive tiers
Players are grouped into three tiers by revenue rank, product breadth, and strategic footprint. Full tier assignment in the report.
Tier 1 · Leaders
3companies
Global scale, integrated portfolio, brand recognition. Setting the pricing benchmark.
Tier 2 · Challengers
5companies
Regional strongholds, focused portfolio, actively expanding via M&A or capacity.
Tier 3 · Emerging
7companies
Niche or early-stage, differentiated technology or early-mover positioning.
Named players covered
Every profiled company includes market rank, base-year share, revenue estimate, HQ, product portfolio depth, and recent strategic moves. Unlock in the sample.
-
NextEra Energy
Rank 01Share est. ~16%Revenue $■■■MHQ ■■■ -
ExxonMobil Corporation
Rank 02Share ■■.■%Revenue $■■■MHQ ■■■ -
Shell plc
Rank 03Share ■■.■%Revenue $■■■MHQ ■■■ -
Chevron Corporation
Rank 04Share ■■.■%Revenue $■■■MHQ ■■■ -
BP p.l.c
Rank 05Share ■■.■%Revenue $■■■MHQ ■■■ -
TotalEnergies SE
Rank 06Share ■■.■%Revenue $■■■MHQ ■■■ -
Saudi Aramco
Rank 07Share ■■.■%Revenue $■■■MHQ ■■■ -
Enel S.p.A
Rank 08Share ■■.■%Revenue $■■■MHQ ■■■
+ 7 more player profiles in the full report.
Unlock the full competitive landscape
Per-player market share, revenue estimates, HQ, product portfolio depth, recent M&A + partnerships, and 3-tier ranking rationale — sample included.
Regulatory landscape
Policy and standards affecting the forecast
Material regulatory shifts across the major regional markets. The report tracks these quarter-by-quarter and quantifies their forecast impact.
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United States
Inflation Reduction Act (2022) provides $369B in clean energy tax credits — ITC/PTC extended through 2032. FERC oversees interstate transmission and wholesale power markets. State Renewable Portfolio Standards (RPS) require utilities to source 20-100% renewables by 2030-2050. Grid interconnection queue reforms (FERC Order 2023) accelerating.
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European Union
REPowerEU plan targets 45% renewables by 2030 with €300B investment. EU Emissions Trading System (ETS) covers 40% of EU emissions; ETS 2 extension to buildings/road transport 2027. Carbon Border Adjustment Mechanism (CBAM) live 2026 for cement, iron/steel, aluminium, fertilisers, electricity.
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China / APAC
China's dual carbon goals — peak by 2030, neutral by 2060 — drive 200GW+ annual renewable additions. 14th Five-Year Plan targets 25% non-fossil primary energy share by 2025. Grid parity solar/wind mandated for new projects since 2021. India's 500 GW non-fossil capacity target by 2030.
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Global standards
IEC standards govern grid equipment, safety, and interconnection (IEC 61850 substation automation). IEEE 1547 covers distributed energy resource interconnection. IRENA coordinates international renewable energy statistics and policy. ISO 50001 energy management certification held by 30K+ organisations.
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Methodology
How we built this estimate
Every number in this report is derived from three converging paths — primary interviews, top-down macro sizing, and bottom-up named-company revenue build-up — and re-verified against live public sources at each edition refresh.
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Primary research
Structured analyst interviews with buyers, vendors, and distributors across the value chain — top-tier OEMs, mid-market integrators, and specialised suppliers. Respondent distribution is disclosed in the sample so readers can weight the mix themselves.
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Secondary research
Company filings, trade association reports, government statistics, and paid databases feed the top-down macro layer. Every source is footnoted in the report so any downstream reader can retrace how a number was arrived at.
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Data triangulation
Three independent estimation paths — top-down macro sizing, bottom-up named-company build-up, and cross-check against installed-base or shipment proxies — converge to a single defensible number. Divergences greater than 8% trigger a re-review.
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Analyst review
Every model is pressure-tested by a senior analyst before publication. Assumptions are stated explicitly, sensitivities are documented, and the accompanying Excel data pack lets clients replicate every calculation on their own inputs.
Frequently asked questions
Common questions about this report
-
•What is the worth of concentrating solar power market?
The concentrating solar power market is expected to grow at 26.2 % CAGR from 2022 to 2029. It is expected to reach above USD 38.16 billion by 2029 from USD 4.7 billion in 2020. -
•What is the size of the Asia Pacific concentrating solar power industry?
Asia Pacific held more than 43 % of the concentrating solar power market revenue share in 2021 and will witness expansion in the forecast period. -
•What are some of the market's driving forces?
The market for concentrated solar power (CSP) is primarily propelled by the need to cut greenhouse gas emissions and the rising demand for sustainable energy. Another significant market driver is government support in the form of financial incentives and tax credits. -
•Which are the top companies to hold the market share in concentrating solar power market?
The concentrating solar power market key players includes BrightSource Energy, Abengoa Solar, Siemens, Acciona, Solar Reserve, ACWA Power, Torresol Energy, Trivelli Energia, Abors Green GmbH, Parvolen CSP Technologies. -
•What is the leading technology of concentrating solar power market?
During the projection period, the solar power towers category is anticipated to be the largest. The higher steam cycle efficiency and capability for producing electricity at high temperatures are what are driving the market for solar power towers. -
•Which is the largest regional market for concentrating solar power market?
Due to an increase in the number of concentrated solar power plant installations, Asia Pacific topped the CSP market in 2019 with a 42.8% revenue share.
The Concentrating Solar Power Market is projected to reach $37.40 Bn by 2035, up from $10.45 Bn in 2025 — a 13.60% CAGR equating to roughly 3.6× expansion. The bars anchor both endpoints so you can pressure-test the trajectory against your own assumptions.