Global Solar Thermal Collectors Market Analysis:
Solar thermal collectors
are heat exchangers which convert solar radiation into thermal energy.
Inclination towards renewable energy and sustainable initiatives can induce
demand for solar thermal collectors. The global Solar
Thermal Collectors Market report by Market
Research Future (MRFR) estimates the revenue and growth of the industry for the
period of 2018 to 2023 (forecast period). The impact of the COVID-19 pandemic
is also taken under consideration.
Market Scope
According to MRFR, the
global solar thermal collectors market will surpass a valuation of USD 41,900
million by 2023. Rise in renewable energy schemes and incentives for its
adoption by industries for lowering the reliance on utilities for power can
drive the market demand. Introduction of more affordable collectors and
increasing awareness has boosted the sales of solar thermal collectors.
Development of new
technologies which can increase its storage capacity and efficiency can drive
its demand across residential buildings, commercial complexes, and special
economic zones. The measures for curbing emission levels and demand for
non-renewable energy are likely to bode well for the market. This is
exemplified the goals of the European Union for reaching its energy
conservation goal by 2050.
Competitive Outlook
Ouraset, SunEarth, Sunerg
Solar s.r.l., GREENONETEC SOLARINDUSTRIE GMBH, Heliodyne, Inc., Alternate
Energy Technologies, LLC, HTP Comfort Solutions LLC, TVP Solar, Absolicon Solar
Collector AB, and Solimpeks are key players of the global solar thermal
collectors market.
Segmentation
The global Solar
Thermal Collectors Industry is segmented by product
type and application.
By product type, it is
segmented into concentrating and non-concentrating. By concentrating, it is
segmented into parabolic dish, parabolic trough, compound parabolic
concentrator, and solar tower. By non-concentrating, it is divided into
evacuated tube and flat plate. The non-concentrating solar thermal collector
segment is expected to drive the market demand during the forecast period owing
to its applications in water and space heating in buildings. On the other hand,
the concentrating segment can possess a significant market share owing to the
higher capacity compared to its counterpart. Its use by solar thermal power
plants for producing huge temperatures for generating electricity can drive the
segment growth.
By application, it is
segmented into industrial, commercial, and residential. The residential segment
is poised to capture a large share of the global solar thermal collectors
market owing to high tariffs on power and large consumption of electricity. The
expansion of the construction sector and the rapid pace of urbanization are
likely to spur the segment growth in the right direction.
Regional Analysis
MRFR's analysis of the
global solar thermal collectors market includes North America, Europe, Asia
Pacific (APAC), and Rest-of-the-World (RoW).
Among these regions, the
Asia Pacific has been observed to be the biggest contributor to growth for the
global market. The APAC solar thermal collector regional market is expected to
retain its leadership position as it grows at the highest CAGR over the review
period. This is due to the rapid ongoing industrialization and urbanization in
the region. Countries such as India, China, and several others in the region
are emerging markets which have established themselves as manufacturing hubs.
Moreover, the large population and high energy demands due to the use of
internet and other usage of electricity can drive the market demand.
North America can account
for a large market share due to concerns of depletion of fossil fuels and
heating of swimming pools. Development of energy-efficient buildings for
capturing the largest solar irradiance levels can trigger demand in the market.
The use of solar thermal collectors for collecting energy during business hours
can result in its adoption across industries.
Browse Complete Solar Thermal Collectors
Market Report at: https://www.marketresearchfuture.com/reports/solar-thermal-collectors-market-6687
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Market Research Future (MRFR), we enable our customers to unravel the
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