Concentrated Solar Power Market Size to Grow USD 30.74 billion by 2035 | Research by SNS Insider

The United States Concentrated Solar Power market was valued at USD 1.54 billion in 2025E and is projected to reach USD 7.17 billion by 2035, expanding at a CAGR of 16.63% from 2026–2035. Growth is fueled by strong federal incentives, rising renewable energy targets, expanded thermal storage adoption, utility-scale investments, and ongoing technological advancements in CSP systems.

Austin, Feb. 27, 2026 (GLOBE NEWSWIRE) — Concentrated Solar Power Market Size & Growth Insights:

According to the SNS Insider, “The Concentrated Solar Power Market Size was valued at USD 7.84 billion in 2025E and is expected to reach USD 30.74 Billion by 2035, growing at a CAGR of 14.64% from 2026-2035.”

Increasing Integration of Thermal Storage to Boost Market Expansion Globally

CSP facilities may now generate electricity outside of the hours of sunlight thanks to thermal storage technology, which solves intermittent power, one of the main problems with renewable energy. Due to this, CSP is a dependable baseload power source that may take the place of fossil fuel-based facilities in a number of locations. CSP can satisfy peak demand, stabilize grids, and lessen reliance on traditional power by utilizing storage. Integration of storage also increases competitiveness with other renewable technologies and enhances project economics. CSP is seen as a strategic investment by countries that prioritize a 24/7 renewable energy supply, which stimulates investor interest, technology advancement, and project pipeline expansion worldwide.

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Leading Market Players with their Product Listed in this Report are:

• Abengoa Solar
• BrightSource Energy, Inc.
• ACWA Power
• TSK Flagsol Engineering GmbH
• Aalborg CSP A/S
• SolarReserve, LLC
• Acciona Energia, S.A.
• eSolar, Inc.
• Atlantica Sustainable Infrastructure plc
• Enel Green Power
• ENGIE SA
• Sener Grupo de Ingeniería, S.A.
• Siemens Energy AG
• Torresol Energy
• Solarlite CSP Technology GmbH
• Chiyoda Corporation
• Shouhang High-Tech Energy Co., Ltd.
• Northwest Electric Power Design Institute (NWEPDI)
• GE Renewable Energy
• Cobra Energia

Concentrated Solar Power Market Report Scope:

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Land and Water Requirements Create Environmental and Geographical Constraints Hamper Market Expansion Globally

CSP facilities are not appropriate for areas with high population densities since they need vast areas of level, sun-rich terrain for mirrors and heliostats. Additionally, a lot of CSP systems require water for cooling, which presents problems in arid regions where water scarcity is already acute. Approvals are also hampered by environmental issues, including as damage of ecosystems and effects on biodiversity. Compared to solar PV, which may be deployed on rooftops or in smaller places, CSP is less flexible due to these environmental and geographic limitations. Consequently, site selection issues hinder the global scalability and broad adoption of CSP.

Key Segmentation Analysis:

By Operation Type

With Storage dominated with ~67% share in 2025 due to its ability to provide reliable power supply beyond daylight hours. Stand-alone Systems segment is expected to grow fastest from 2026 to 2035 as they require lower initial investment and simpler infrastructure. 

By Application

Utility dominated with ~58% share in 2025 as large-scale power generation projects are increasingly prioritized by governments to meet rising electricity demand. Desalination segment is expected to grow fastest from 2026 to 2035 as global water scarcity drives demand for sustainable desalination solutions. 

By Technology

Parabolic Trough dominated with ~54% share in 2025 due to its proven commercial maturity, operational reliability, and cost-effectiveness. as it offers higher efficiency, higher operating temperatures, and superior thermal storage capacity.

By Component

Solar Collector dominated with ~38% share in 2025 as it is the core component responsible for capturing solar radiation and enabling energy conversion. Thermal Storage System segment is expected to grow fastest from 2026 to 2035 as storage integration enhances CSP reliability and competitiveness against intermittent renewables.

By Capacity

100 MW and above dominated with ~63% share in 2025 and is projected to grow fastest from 2026 to 2035 due to its suitability for large-scale power generation and ability to integrate advanced thermal storage.

Regional Insights:

The fastest compound annual growth rate (CAGR) of almost 16.54% is anticipated in North America between 2026 and 2035, driven by favorable government incentives, improvements in solar thermal technologies, and increased expenditures in clean energy infrastructure.

Asia Pacific dominated the Concentrated Solar Power Market with the highest revenue share of about 40% in 2025 due to strong government initiatives, rising investments in renewable energy, and rapid industrialization.

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Recent Developments:

• 2023: BrightSource Energy, Inc. spun off its Israeli, UK, and South African CSP business into New BrightSource Energy LTD, separating CSP & renewable energy management from other operations.
• 2024: Abengoa took full control of the Palen Solar Energy Generating Station (PSEGS) CSP project in California, planning to use molten salt tower design with large thermal storage capacity.

Exclusive Sections of the Concentrated Solar Power Market Report (The USPs):

• TECHNOLOGY & DEPLOYMENT BENCHMARKS – helps you analyze installed CSP capacity by technology (Parabolic Trough, Solar Tower, Fresnel, Dish), average plant size trends, hybrid plant penetration, and the growth rate of thermal energy storage integration to identify scalable and commercially viable configurations.
• EFFICIENCY & PERFORMANCE INDICATORS – helps you evaluate average conversion efficiency by CSP technology, capacity factor comparison with PV and wind, annual energy output per MW, and heat transfer fluid efficiency contribution to determine operational competitiveness.
• STORAGE & DISPATCHABILITY ANALYSIS – helps you understand thermal energy storage capacity per plant, percentage of projects with storage integration, dispatchability window without sunlight, and cost differential between storage enabled and non-storage plants to assess grid reliability potential.
• COST & INVESTMENT METRICS – helps you benchmark LCOE of CSP against PV and wind, CAPEX and OPEX structure, financing mix between debt and equity, and ROI and payback trends to support investment and policy decisions.
• ENVIRONMENTAL & SUSTAINABILITY SCORECARD – helps you measure CO₂ emissions avoided, water consumption per MWh compared to other renewables, land use intensity, and lifecycle sustainability score to evaluate long term environmental impact and regulatory alignment.

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