Summary

This report analyzes the global Solar Thermal (Concentrated Solar Power, “CSP”) market over the period 2015–2032, with 2024 as the base year. It defines Solar Thermal (CSP) as utility-scale systems that convert direct normal irradiance into dispatchable electricity via concentrating optics, a thermal conversion and storage block, and a power block, covering four technology families: parabolic trough, solar power tower, linear Fresnel reflector, and parabolic dish / dish-Stirling systems.

In value terms, the global Solar Thermal (CSP) market is estimated at about US$1.27 billion in 2024 and is projected to reach roughly US$11.65 billion by 2032. This implies a robust compound annual growth rate of around 24% over 2015–2032, with a particularly strong upswing from 2020 to 2024 (35% CAGR) and a step-change year in 2025 when market value is expected to double versus 2024.
On the volume side, global installed and delivered Solar Thermal (CSP) capacity is assessed at approximately 1,267 MW in 2024, rising to about 11,649 MW by 2032, reflecting high-teens to mid-twenties growth rates in the main forecast window.
Historically, CSP deployment has followed a boom-and-pause pattern. Early build-out in markets such as North America, MENA, Spain and South Africa drove global revenues to peaks around 2015–2019, followed by a pronounced dip in 2020 as several policy windows closed and new auction designs favored PV and wind.

The current cycle is characterized by a renewed focus on dispatchability and long-duration storage, with growth anchored in China and, over the forecast horizon, a visible pipeline in MENA, parts of Latin America, North America, Sub-Saharan Africa and selected APeC markets. China already accounts for the bulk of 2020–2025 market value growth, with revenue rising from roughly US$384 million in 2020 to about US$739 million in 2024 and over US$2.5 billion in 2025, before approaching US$7.8 billion by 2032.
Technologically, the market continues to transition from trough-dominated fleets toward tower-centric portfolios. While parabolic trough plants still represent a large share of the cumulative installed base, forecast market value is increasingly concentrated in power tower projects with integrated molten-salt thermal energy storage. By 2027–2032, tower systems are expected to account for roughly three-quarters or more of annual sales value, with parabolic troughs declining to a high-single-digit share, linear Fresnel systems occupying a stable niche in the low-teens, and dish-engine configurations remaining a very small fraction of the market.
This evolution reflects the higher temperature, higher storage density and stronger system-value proposition of tower designs where grids require multi-hour or overnight shifting.

Regionally, the report provides detailed revenue, volume and growth metrics for China, Europe, North America, MENA, South America, Sub-Saharan Africa and APeC. It traces the shift from the first CSP wave in Spain, the United States, North Africa and South Africa toward a new cycle led by China and, in the late-2020s and early-2030s, by large hybrid tenders and industrial-decabonization projects in MENA, Latin America and other high-DNI regions. For each region, the study quantifies historical sales value (2015–2020), the recovery and pipeline phase (2021–2026) and the forecast ramp-up through 2032, including CAGR by period and the changing mix between utility-scale power generation and process-heat/industrial applications.
On the supply side, the Solar Thermal (CSP) industry remains highly concentrated. In revenue terms, the top five manufacturers account for close to the entire 2024 market (CR5 ≈ 99.8%), with a Herfindahl-Hirschman Index consistent with a highly concentrated sector.
The competitive landscape is shaped by a small group of Chinese EPCs and system integrators (notably POWERCHINA, Energy China/CEEC and Dacheng Technology), which collectively dominate recent EPC revenue, alongside established international players such as Abengoa, SENER, COBRA, ACCIONA, TSK and GE, whose role is more visible in the legacy project fleet and technology references than in near-term revenue.
The report also maps the broader value chain, from key raw-material suppliers (HTF, mirrors, receivers, turbines, heat exchangers) to project developers, EPC contractors and end-use industries.

The demand outlook is underpinned by four structural drivers: (1) the need for firm, dispatchable capacity and evening-peak coverage in PV-rich power systems; (2) industrial decarbonization of high-temperature process heat and steam for sectors such as mining, refining, chemicals, food & beverage and desalination; (3) the economic gap for long-duration storage beyond the efficient range of Li-ion BESS, where molten-salt TES can become competitive; and (4) the rise of hybrid mega-project tenders that bundle PV, CSP and batteries and optimize portfolios at system level.
Counterbalancing these drivers, the report highlights key challenges and risks: structurally higher upfront CAPEX and longer payback compared with PV+BESS, persistent bankability and performance-risk concerns, EPC execution complexity across tightly coupled subsystems, and relatively intensive O&M requirements for mirror fields, heat-transfer media and receivers.

Methodologically, the study combines bottom-up aggregation of company-level Solar Thermal (CSP) revenue, installed capacity and implied ASPs with top-down triangulation using regional project databases, policy frameworks and secondary statistics. Market size estimates are expressed at factory-gate price level, 2024 is used as the quantitative base year, and revenues and volumes for 2025–2032 are projected using a mix of scenario-based growth assumptions, Delphi inputs and cross-checks against announced project pipelines. The resulting dataset provides a consistent view of how Solar Thermal (CSP) is expected to evolve from a niche technology into a more widely used dispatchable renewable option and long-duration storage solution in high-DNI power systems and industrial clusters through 2032.

Market Segmentation
By Company
 Abengoa
 SENER
 COBRA
 ACCIONA
 TSK
 GE
 Cosin Solar
 Shanghai Electric
 POWERCHINA
 Dacheng Technology
 Shouhang High-Tech
 Energy China (CEEC)
 CSIC New Energy

Segment by Type
 Power Tower
 Parabolic Trough
 Linear Fresnel
 Dish

By Region
 China
 Europe
 North America
 MENA
 South America
 Sub-Saharan Africa
 APeC

 China
 India
 Thailand
 Australia
 Israel
 United Arab Emirates
 Algeria
 Morocco
 Saudi Arabia
 Kuwait
 Egypt
 South Africa
 Germany
 Italy
 France
 Denmark
 Spain
 Turkey
 United States
 Canada
 Mexico
 Chile

Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Solar Thermal (CSP) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Solar Thermal (CSP) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 7: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 8: Conclusion.

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Table of Contents

1 MARKET OVERVIEW 1
1.1 Solar Thermal (CSP) Product Introduction 1
1.2 Global Solar Thermal (CSP) Market Size Forecast 2
1.2.1 Global Solar Thermal (CSP) Sales Value (2021-2032) 3
1.2.2 Global Solar Thermal (CSP) Sales Volume (2015-2032) 4
1.2.3 Global Solar Thermal (CSP) Sales Price (2021-2032) 5
1.3 Solar Thermal (CSP) Market Trends & Drivers 5
1.3.1 Solar Thermal (CSP) Industry Trends 5
1.3.2 Solar Thermal (CSP) Market Drivers & Opportunity 8
1.3.3 Solar Thermal (CSP) Market Challenges 12
1.3.4 Solar Thermal (CSP) Market Restraints 18
1.4 Assumptions and Limitations 20
1.5 Study Objectives 20
1.6 Years Considered 21
2 COMPETITIVE ANALYSIS BY COMPANY 22
2.1 Global Solar Thermal (CSP) Players Revenue Ranking (2024) 22
2.2 Global Solar Thermal (CSP) Revenue by Company (2015-2026) 22
2.3 Key Companies Solar Thermal (CSP) Service Scope and Headquarter (2024) 24
2.4 Key Companies Time to Established 26
2.5 Key Companies Solar Thermal Product Offered 28
2.6 Global Solar Thermal (CSP) Average Price by Company (2015-2026) 30
2.7 Solar Thermal (CSP) Market Competitive Analysis 31
2.7.1 Solar Thermal (CSP) Market Concentration Rate (2015-2026) 31
2.7.2 Global 3 Largest Manufacturers by Solar Thermal (CSP) Revenue in 2024 32
2.7.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Solar Thermal (CSP) as of 2024) 32
2.8 Mergers & Acquisitions, Expansion 33
3 SEGMENTATION BY TYPE 34
3.1 Introduction by Type 34
3.1.1 Power Tower 35
3.1.2 Parabolic Trough 36
3.1.3 Linear Fresnel 38
3.1.4 Parabolic Dish 40
3.2 Global Solar Thermal (CSP) Sales Value by Type 42
3.2.1 Global Solar Thermal (CSP) Sales Value by Type (2020 VS 2024 VS 2032) 42
3.2.2 Global Solar Thermal (CSP) Sales Value, by Type (2015-2032) 43
3.2.3 Global Solar Thermal (CSP) Sales Value, by Type (%) (2015-2032) 44
4 SEGMENTATION BY REGION 46
4.1 Global Solar Thermal (CSP) Sales Value by Region 46
4.1.1 Global Solar Thermal (CSP) Sales Value by Region: 2020 VS 2024 VS 2025 VS 2032 46
4.1.2 Global Solar Thermal (CSP) Sales Value by Region (2015-2032) 46
4.1.3 Global Solar Thermal (CSP) Sales Value by Region (%), (2015-2032) 47
4.2 Global Solar Thermal (CSP) Price by Region 50
4.3 Global Solar Thermal (CSP) New Capacity by Region 51
4.3.1 Global Solar Thermal (CSP) New Capacity by Region: 2020 VS 2024 VS 2025 VS 2032 51
4.3.2 Global Solar Thermal (CSP) New Capacity by Region (2015-2032) 51
4.3.3 Global Solar Thermal (CSP) New Capacity by Region (%), (2015-2032) 52
4.4 Global Solar Thermal (CSP) Cumulative Capacity by Region 54
4.4.1 Global Solar Thermal (CSP) Cumulative Capacity by Region: 2020 VS 2024 VS 2025 VS 2032 54
4.4.2 Global Solar Thermal (CSP) Cumulative Capacity by Region (2015-2032) 55
4.4.3 Global Solar Thermal (CSP) Cumulative Capacity by Region (%), (2015-2032) 56
4.5 China 58
4.5.1 China Solar Thermal (CSP) Sales Value, 2015-2032 58
4.5.2 China Solar Thermal (CSP) New Capacity, 2015-2032 59
4.5.3 China Solar Thermal (CSP) Cumulative Capacity, 2015-2032 59
4.6 Europe 60
4.6.1 Europe Solar Thermal (CSP) Sales Value, 2015-2032 60
4.6.2 Europe Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 61
4.6.3 Europe Solar Thermal (CSP) New Capacity, 2015-2032 62
4.6.4 Europe Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 62
4.6.5 Europe Solar Thermal (CSP) Cumulative Capacity, 2015-2032 63
4.6.6 Europe Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 64
4.7 North America 65
4.7.1 North America Solar Thermal (CSP) Sales Value, 2015-2032 65
4.7.2 North America Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 66
4.7.3 North America Solar Thermal (CSP) New Capacity, 2015-2032 67
4.7.4 North America Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 68
4.7.5 North America Solar Thermal (CSP) Cumulative Capacity, 2015-2032 69
4.7.6 North America Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 70
4.8 MENA 71
4.8.1 MENA Solar Thermal (CSP) Sales Value, 2015-2032 71
4.8.2 MENA Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 72
4.8.3 MENA Solar Thermal (CSP) New Capacity, 2015-2032 72
4.8.4 MENA Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 73
4.8.5 MENA Solar Thermal (CSP) Cumulative Capacity, 2015-2032 74
4.8.6 MENA Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 75
4.9 South America 76
4.9.1 South America Solar Thermal (CSP) Sales Value, 2015-2032 76
4.9.2 South America Solar Thermal (CSP) New Capacity, 2015-2032 77
4.9.3 South America Solar Thermal (CSP) Cumulative Capacity, 2015-2032 77
4.10 Sub-Saharan Africa 78
4.10.1 Sub-Saharan Africa Solar Thermal (CSP) Sales Value, 2015-2032 78
4.10.2 Sub-Saharan Africa Solar Thermal (CSP) New Capacity, 2015-2032 79
4.10.3 Sub-Saharan Africa Solar Thermal (CSP) Cumulative Capacity, 2015-2032 79
4.11 APeC 80
4.11.1 APeC Solar Thermal (CSP) Sales Value, 2015-2032 80
4.11.2 APeC Solar Thermal (CSP) Sales Value by Country (%), 2024 VS 2032 81
4.11.3 APeC Solar Thermal (CSP) New Capacity, 2015-2032 81
4.11.4 APeC Solar Thermal (CSP) New Capacity by Country (%), 2024 VS 2032 82
4.11.5 APeC Solar Thermal (CSP) Cumulative Capacity, 2015-2032 83
4.11.6 APeC Solar Thermal (CSP) Cumulative Capacity by Country (%), 2024 VS 2032 84
5 SEGMENTATION BY KEY COUNTRIES/REGIONS 85
5.1 Key Countries/Regions Solar Thermal (CSP) Sales Value, 2015-2020 85
5.2 Key Countries/Regions Solar Thermal (CSP) New Capacity, 2015-2020 87
5.3 Key Countries/Regions Solar Thermal (CSP) Cumulative Capacity, 2015-2020 90
6 CORPORATE PROFILE 93
6.1 Abengoa 93
6.1.1 Abengoa Profile 93
6.1.2 Abengoa Main Business 95
6.1.3 Abengoa Solar Thermal (CSP) Products, Services and Solutions 97
6.1.4 Abengoa Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 102
6.1.5 Abengoa Recent Developments 103
6.2 SENER 104
6.2.1 SENER Profile 104
6.2.2 SENER Main Business 107
6.2.3 SENER Solar Thermal (CSP) Products, Services and Solutions 108
6.2.4 SENER Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 110
6.2.5 SENER Recent Developments 111
6.3 COBRA 112
6.3.1 COBRA Profile 112
6.3.2 COBRA Main Business 115
6.3.3 COBRA Solar Thermal (CSP) Products, Services and Solutions 117
6.3.4 COBRA Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 119
6.3.5 COBRA Recent Developments 120
6.4 ACCIONA 121
6.4.1 ACCIONA Profile 122
6.4.2 ACCIONA Main Business 125
6.4.3 ACCIONA Solar Thermal (CSP) Products, Services and Solutions 126
6.4.4 ACCIONA Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 128
6.4.5 ACCIONA Recent Developments 128
6.5 TSK 129
6.5.1 TSK Profile 130
6.5.2 TSK Main Business 132
6.5.3 TSK Solar Thermal (CSP) Products, Services and Solutions 134
6.5.4 TSK Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 138
6.5.5 TSK Recent Developments 138
6.6 GE 139
6.6.1 GE Profile 140
6.6.2 GE Main Business 142
6.6.3 GE Solar Thermal (CSP) Products, Services and Solutions 144
6.6.4 GE Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 145
6.6.5 GE Recent Developments 146
6.7 Cosin Solar 146
6.7.1 Cosin Solar Profile 147
6.7.2 Cosin Solar Main Business 150
6.7.3 Cosin Solar Solar Thermal (CSP) Products, Services and Solutions 151
6.7.4 Cosin Solar Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 155
6.7.5 Cosin Solar Recent Developments 156
6.8 Shanghai Electric 157
6.8.1 Shanghai Electric Profile 157
6.8.2 Shanghai Electric Main Business 160
6.8.3 Shanghai Electric Solar Thermal (CSP) Products, Services and Solutions 162
6.8.4 Shanghai Electric Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 165
6.8.5 Shanghai Electric Recent Developments 166
6.9 POWERCHINA 168
6.9.1 POWERCHINA Profile 168
6.9.2 POWERCHINA Main Business 171
6.9.3 POWERCHINA Solar Thermal (CSP) Products, Services and Solutions 173
6.9.4 POWERCHINA Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 178
6.9.5 POWERCHINA Recent Developments 179
6.10 Dacheng Technology 180
6.10.1 Dacheng Technology Profile 181
6.10.2 Dacheng Technology Main Business 183
6.10.3 Dacheng Technology Solar Thermal (CSP) Products, Services and Solutions 185
6.10.4 Dacheng Technology Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 189
6.10.5 Dacheng Technology Recent Developments 190
6.11 Shouhang High-Tech 192
6.11.1 Shouhang High-Tech Profile 192
6.11.2 Shouhang High-Tech Main Business 195
6.11.3 Shouhang High-Tech Solar Thermal (CSP) Products, Services and Solutions 196
6.11.4 Shouhang High-Tech Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 200
6.11.5 Shouhang High-Tech Recent Developments 200
6.12 Energy China (CEEC) 203
6.12.1 Energy China (CEEC) Profile 204
6.12.2 Energy China (CEEC) Main Business 208
6.12.3 Energy China (CEEC) Solar Thermal (CSP) Products, Services and Solutions 209
6.12.4 Energy China (CEEC) Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 212
6.12.5 Energy China (CEEC) Recent Developments 213
6.13 CSIC New Energy 213
6.13.1 CSIC New Energy Profile 214
6.13.2 CSIC New Energy Main Business 217
6.13.3 CSIC New Energy Solar Thermal (CSP) Products, Services and Solutions 219
6.13.4 CSIC New Energy Solar Thermal (CSP) Cumulative Capacity (MW), New Capacity (MW), Revenue (USD mn), Unit Price (USD/kW) and Gross Margin & (2021-2026) 220
6.13.5 CSIC New Energy Recent Developments 221
7 INDUSTRY CHAIN ANALYSIS 223
7.1 Solar Thermal Industrial Chain 223
7.2 Solar Thermal Upstream Analysis 226
7.2.1 Solar Thermal Key Raw Materials 226
7.2.2 Raw Materials Key Suppliers 227
7.2.3 Manufacturing Cost Structure 228
7.3 Downstream Analysis (Customers Analysis) 231
7.4 Sales Model 233
8 RESEARCH FINDINGS AND CONCLUSION 235
9 APPENDIX 239
9.1 Research Methodology 239
9.1.1 Methodology/Research Approach 239
9.1.2 Data Source 242
9.2 Author Details 245
9.3 Disclaimer 245