Market Trends of Parabolic Trough CSP Industry
This section covers the major market trends shaping the Parabolic Trough CSP Market according to our research experts:
Increasing Deployment of Solar PV to Restrain the Market
- Solar Photovoltaic (PV) that has a life of approximately 50 years are expected to restrain the parabolic trough CSP market, which only has a life span of 25 to 30 years. This factor of more life span coupled with low cost of photovoltaic cells is expected to have a negative impact on parabolic trough CSP market.
- In 2010, the installed capacity of solar PV was 40275 megawatt (MW), which in 2018 became 480619 megawatt (MW).
- Since solar PV are much cheaper, easy to build and take less time to build in comparison to parabolic trough CSP that are expensive, made of different components which take more time to put together.
- Also parabolic trough CSP require more space for large scale applications and require high initial investment. On the other hand solar PV can also be installed on rooftops for day to day requirement and have low initial investment. Due to these reasons more and more people are investing in solar PV which are becoming restrains for parabolic trough CSP market.
- Pavagada Solar Park in Karnataka is the world's largest solar photovoltaic power station, which can generate the energy of 2050 megawatts (MW). It was started in 2015 and was completed in 2019. This much power generation from photovoltaic technology is going to restrain the parabolic trough CSP market in the forecast period.
- Tengger Desert Solar Park in China is the world's second-largest solar photovoltaic power station, which generates 1547 megawatt (MW) of energy. It was completed in 2015.
- Therefore, from the above points, photovoltaic cells are going to restrain the parabolic trough CSP market in the forecast period.
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Asia-Pacific to Witness a Significant Growth
- Although Europe has the largest parabolic trough CSP installation, the region remained quite inactive in terms of new CSP projects after 2015, while Asia-Pacific is the fastest-growing region in parabolic trough CSP and 2018 have 23 operational, under construction and under development projects. Out of these 23 projects, 12 were based on parabolic Trough CSP.
- China in 2018 has six parabolic trough CSP projects which were either operational, under construction or under development. India also had six parabolic trough CSP projects which were either operational, under construction or under development.
- In 2018, China installed parabolic trough CSP of 50-megawatt (MW) capacity. In 2019, the country announced to install further 100-megawatt (MW) capacity of parabolic trough CSP.
- In 2018, the second phase of Shouhang Dunhuang's 100 MW molten salt parabolic trough CSP project was commissioned. The second phase of the project owns the title of the world's largest stand-alone solar field, with over 10,000 heliostats.
- Hence, the above points indicate that Asia-Pacific is the fastest growing market for the parabolic trough CSP and is likely to create many opportunities during the forecast period.
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