Solar Concentrator Market is predicted to reach USD 23.0 billion at a CAGR of 17.20% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Solar Concentrator Market” that contains information from 2018 to 2032. The solar concentrator market is estimated to register a CAGR of 17.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global solar concentrator market— Clique Solar, Acciona SA, Brightsource, Trivelli Energia, Solar Reserve, Siemens AG, Abengoa Solar GmbH, ACWA Power, Torresol Energy, and Abors Green GmbH

Solar Concentrator Market Highlights

The global solar concentrator market is accounted to register a CAGR of 17.20% during the forecast period and is estimated to reach USD 23.0 Billion by 2032.

The market for solar concentrators is expanding significantly as a result of the rising importance of renewable energy sources and the rising need for environmentally friendly power generation. Solar concentrators focus sunlight onto a restricted space, allowing for effective energy conversion. Global market expansion is being driven by elements including governmental incentives, technical improvements, and cost savings.

Segment Analysis

The global solar concentrator market has been segmented based application, type, technology and end use.

On the basis of application, the market is segmented into electricity generation, heating fluids, and others. Electricity generation segment dominated the global market in 2022. The segment's expansion in the Middle East, Africa, and Asia Pacific is being driven by significant concentrated solar power project developments, notably in Saudi Arabia, Morocco, the United Arab Emirates, and China.   

Based on type, the global Solar Concentrator market has been segmented into cylindrical parabolic (2D hubs), paraboloid revolution (3D hubs), and others. The paraboloid revolution (3D hubs) segment dominated the global market in 2022. This is due to the fact that the efficiency of power generation in the solar industry can be increased by stacking the parabolic concentrators in an array with square or hexagonal tops.

Based on technology, the global solar concentrator market has been segmented into solar power towers, linear concentrating systems, and dish sterling technology. Solar power towers segment dominated the global Solar Concentrator market in 2022. This is a result of things that have undergone economic evaluation, superior designs, and a variety of additional methods.

Based on end use, the global solar concentrator market has been segmented into residential, commercial, and industrial. Industrial segment dominated the global solar concentrator market in 2022. The private sector's growing investment in combined heat and power as well as the requirement for heating fluids for industrial applications can be attributed to this rise in demand.

Regional Analysis

The global Solar Concentrator market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Solar Concentrator market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Solar Concentrator market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Solar Concentrator market comprises of Middle East, Africa, and Latin America.

The North America Solar Concentrator Market dominated this market in 2022 (45.80%). The public and private sectors are phasing out nuclear and coal-fired power plants. The United States holds the vast majority of the market share in North America. Furthermore, the U.S. government's tough emission rules have spurred the installation of such turbines, notably in CHP applications.

Moreover, in 2022, the Europe Solar Concentrator market held a sizable market share. Additionally, new concentrated solar power facility construction is receiving more attention in this region. The government's approval of numerous programs to reduce carbon emissions has led to an increase in the demand for solar concentrators.

Additionally, from 2023 to 2032, the Asia Pacific Solar Concentrator market is anticipated to experience rapid expansion. The area had a sizable population, which led to a high demand for and consumption of power. The increase in expenditures made to construct solar thermal power plants in the rising nations in this region has a significant impact on the market's growth. The growing demand for solar concentrators in countries like India, China, Japan, and others offers several opportunities for the industry to expand.

Furthermore, the rest of the world's Solar Concentrator market is divided into the Middle East, Africa, and Latin America. Due to the region's plentiful solar resources and rising use of renewable energy, the Latin American solar concentrator industry is experiencing substantial expansion. The market is expanding as a result of government initiatives, supportive regulations, and falling solar equipment prices. To diversify their energy mix and lower greenhouse gas emissions, Latin American nations are actively funding solar concentrator projects.

Key Findings of the Study

• The global Solar Concentrator market is expected to reach USD 23.0 Billion by 2032, at a CAGR of 17.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market Due to the substantial population in this area, there was a strong demand for and use of power.


• Based on end use, the industrial segment was attributed to holding the largest market in 2022,


• Clique Solar, Acciona SA, Brightsource, Trivelli Energia, Solar Reserve, Siemens AG, Abengoa Solar GmbH, ACWA Power, Torresol Energy, and Abors Green GmbH.