Global Solar Mirror Market to Surpass $ 1.6 Billion by 2023
Growing demand for electricity, increasing focus on
harnessing solar energy and use of solar mirrors in Concentrated Solar Power
(CSP) technologies to fuel global solar mirror market by 2023
According to TechSci Research report, “Global Solar Mirror Market By Technology, By End User, By Region, Competition Forecast &
Opportunities, 2013 - 2023’’, the
global solar mirror market is projected
to surpass $ 1. 6 billion by 2023. Due to increasing concerns regarding climate
change, various countries across the globe are proactively adopting renewable
energy sources and solar energy forms a large part of the renewable energy mix
for such countries. Advancements in technological innovations and developments
in CSP (Concentrated Solar Power) technologies like aluminum-based reflecting
material and effective solar concentrators, would also aid growth of the solar
mirror market. Some of the major companies operating in the global
solar mirror market include FLABEG FE GmbH, Rioglass Solar Holding S.A. and
Compagnie de Saint-Gobain S.A.
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In
2017, parabolic trough technology accounted for the largest share in the global
solar mirror market, and the segment is likely to maintain its market dominance
during the forecast period, on account of easy installation of parabolic trough
in CSP projects, coupled with high reliability of this technology in its integration
in large-scale solar thermal power projects. Middle East & Africa region is expected to become the fastest
growing region in the global solar mirror market in coming years, owing to
rapid industrialization and growing need for electricity in the region.
Moreover, strong government support and increasing focus on clean energy
sources would aid the region’s solar mirror market over the course of next five
years.
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“As
of 2017, various governments across the globe have made encouraging solar and
wind energy applications as one of their prime objectives. Governments are
making huge investments to integrate solar thermal projects to the grid in
order to increase electricity access. The MENA CSP Investment Plan (MENA CSP
IP), which has the funding from Clean Technology Fund (CTF) managed by the
World Bank, is an exemplary effort by international bodies to promote clean
sources of energy. Such developments are
expected to positively influence the global solar mirror market during the
forecast period.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Solar Mirror Market By Technology, By End User, By Region,
Competition Forecast & Opportunities, 2013 - 2023’’ has
evaluated the future growth potential of global solar mirror market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global solar mirror market.
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