North America Concentrated Solar Power (CSP) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
North America concentrated solar power (CSP) market is expected to grow at a CAGR of more than 2.5% in the forecast period of 2022-2027. North America is the leading region in the implementation of renewable energy technology. This can be ascribed to the ease of availability of sustainable technologies and infrastructure in the region. During the Covid-19 pandemic, due to lockdown and cross-border restrictions, there were limitations on the movement of manpower and supply of goods & raw materials in North America. Furthermore, the lockdown resulted in lower demand for electricity from commercial and industrial facilities, as these facilities were completely shut down during the pandemic. However, due to the rise in the investment in renewable energy solutions in all major countries in North America, the market is expected to grow in a couple of years. Moreover, the government's supportive policies and reduction in solar energy technology costs are expected to drive the market during the forecast period. However, higher initial investment and operational costs, compared to solar PV technology, are anticipated to hinder the market's growth during the forecast period.
Key HighlightsNorth America concentrated solar power market is moderately fragmented. Some of the key players in the market include CSP Ultra Lite Solar. , BrightSource Energy, Inc., EnergyNest AS., ENGIE, and ACCIONA.
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