In 2012, approximately 97,921,069 acres of land in the US allotted for solar power projects

IRELAND: Research and Markets announced the addition of the "Global Concentrated Solar Power Market 2012-2016" report to its offering.

TechNavio's analysts forecast the Global Concentrated Solar Power market to grow at a CAGR of 12.01 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in legislations in the Renewable Energy sector. The Global Concentrated Solar Power market has also been witnessing the increase in large-scale CSP production. However, the reduction in FiTs could pose a challenge to the growth of this market.

The key vendors dominating this market space are Abengoa Solar S.A., Acciona Solar Power Inc., Bright Source Industries (Israel) Ltd., and Solar Millennium AG. The other vendors mentioned in the report are Areva S.A.S., Novatec Biosol AG, Sener Engineering Group S.A., ACME Solar, Solar Power Group (SPG), Sky Fuel Inc., and Stirling Energy Systems.

An analyst from TechNavio's Clean Tech team said: ''Large-scale production of concentrated solar power (CSP) equipment is one of the major trends currently observed in the Global CSP market. The number of CSP projects with GW capacity has been on the rise, indicating mass production. The various instances of CSP GW projects include the Euro-Mediterranean Desertec proposal, the 2 GW Ordos project in China, and the 10 GW Helios project in Greece.

"Further, in 2012, approximately 97,921,069 acres of land in the US was allotted for solar power projects. Such an area should be sufficient to install solar plants with a total capacity of 10,000-20,000 GW. One of the major advantages of large-scale CSP equipment production is the benefits realized in terms of economies of scale, thus resulting in cost reduction.''

According to the report, the increase in the number of legislations in relation to the Renewable Energy sector is one of the major driving factors in the market. These legislations vary according to countries; for instance, the feed-in-tariff (FiT) policy in Germany, and the Large-scale Renewable Energy Target (LRET) policy in Australia. This increase in the number of legislations has resulted in the sector to become better organized.