Parabolic Troughs Market Growth and Trends
The global Parabolic Troughs market size was estimated at USD 4.5 billion in 2019 and is anticipated to grow at a compound annual growth rate of 9.7% between the years 2020 to 2027 and that too with a CAGR increment of more than 2% monthly during the forecast period of 2020-2025. The growth in this market is on a continuous rise exponentially across the globe.
The Market Growth Attributes include:
• The growing concerns of mankind to conserve nature and eradicate harmful carbon emissions and other air pollutants.
• The increasing adoption of renewable resource usage methods
• The decrease in cost of the parabolic trough market components facilitating affordability to the world within the forecast period.
• Vast improvements in the technology and manufacturing industries around the globe which anticipates to reduce the usage of solar power plants thus, opting to use the parabolic trough market.
• Increased concerns from the government to nurture more support in adopting renewable technology also empowering the demand for efficient energy supply
• Rise in respiratory diseases like asthma due to carbon emissions using other means have contributed to fuel the market growth for parabolic troughs.
• Substantial increase in the improvement of lifestyles have supplemented the growth of themarket due to a rise in its economic growth rate, foreign investments and bulky productions.
Some challenges reinforced upon this market are:
• The Increasing rate of alternatives like solar photo-voltaic cells being installed within the same forecast period.
• Alternatives like photo-voltaic cells that take less time than parabolic troughs in being set up and which serve a much more affordable price to all manufacturers
• Parabolic Troughs requiring large plants and ample amounts of space to be set up on high scale applications. Whereas, alternatives like photo-voltaic cells can even be installed on rooftops to ensure daily tasks are performed without hindrances thus, increasing the challenge acting upon the Parabolic Trough market.
• The other renewable energy sources like hydroelectricity and wind that are more likely to perform the same functions at a lower expense and within a short time lapse serve as major challenges to Parabolic Trough Market.
Parabolic Troughs Industry Regional Analysis
Parabolic Troughs Market Research Report Scope/Definition
For the purpose of this market research report, a parabolic trough is defined as a device that converts solar energy by using a canal that is covered using highly reflective surfaces to focus sunlight rays to a tube that has a fluid that spins a turbine to generate electricity. Research and development in parabolic trough systems are considered a significant concentrating solar power (CSP) technology part of the SunShot Initiative. Parabolic troughs, which fall under linear concentrators, are the most advanced CSP technology in operation.Parabolic troughs produce high temperatures, which are suitable for generating steam. The thermal storage used in the insulated tanks can also generate electricity during the night.Parabolic troughs operate at low costs, which is much efficient for the users. Research in parabolic troughs has created an efficient working experience, which has been achieved from working and analyzing them over a long period.
Parabolic Troughs Market Share and Competition
Key companies operating in this industry are: Bright Source Energy, Abengoa Solar, Siemens, Acciona, Solar Reserve, Torresol Energy, Trivelli Energia, Abors Green GmbH, Parvolen CSP Technologies, Sener, and Rioglass
Parabolic Troughs Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Technology Analysis (Revenue, USD Million, 2021 - 2028)
• Parabolic Trough
• Power Tower
• Linear Fresnel
Application Analysis (Revenue, USD Million, 2021 - 2028)
Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Parabolic Troughs Industry Companies
• Bright Source Energy
• Abengoa Solar
• Solar Reserve
• Torresol Energy
• Trivelli Energia
• Abors Green GmbH
• Parvolen CSP Technologies
Available Versions of Parabolic Troughs Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report