Solar Thermal Collectors Market Scope, Demand, Analysis, Challenges, Comprehensive Analysis and Forecast to 2023

Solar Thermal Collectors Market Highlights

The global solar thermal collectors market was analyzed by Market Research Future (MRFR) and it was projected that a decent CAGR of 7.8% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the global solar thermal collectors market was further stated to surpass its previous valuation and reach USD 41,900 million by the end of the forecast period.

Solar thermal collectors have a high initial cost of investment which deters rapid adoption and hampers market growth. However, increasing focus and government support for the development of renewable energy technology is expected to lead to advancements in solar thermal technology which in turn, will provide the market with opportunities in the foreseeable future. Solar collectors, aka solar hot water panels, are used for applications in commercial, residential, and industrial scale. The global solar thermal collectors market is seeing a favorable increase in recent years.

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Increasing environmental consciousness combined with a desire to move away from heavy reliance on increasingly expensive and rapidly depleting fossil fuel reserves have given rise to the demand for renewable energy. Since solar thermal collectors, as the name suggests, rely on solar power, the demand for the same has increased drastically. The growing demand and need for energy efficiency propel the demand for solar thermal collectors.

Efficiency in energy consumption and generation has become extremely critical owing to the fast-paced industrialization and urbanization ongoing today. This is, in turn, driving the growth and demand of the global market, especially in industrial applications in an effort to curb down the overhead costs. However, on the contrary, the high cost associated with its initial investment can majorly hamper the growth of the global market over the forecast period.

Market Segmentation

As such, the global solar thermal collectors market is segmented on the basis of product type, application, and region.

Product types available in the solar thermal collector market are broadly segmented into concentrating, and non-concentrating.

Applications of solar thermal collectors are segmented to include residential, industrial, and commercial.

Competitive Landscape

The global solar thermal collectors market comprises a host of key players. This includes names like Greenonetec Solarindustrie Gmbh (Austria), Alternate Energy Technologies, LLC. (US), SunEarth (California), Heliodyne, Inc. (California), TVP Solar (Switzerland), Sunerg Solar S.R.L. (Italy), Ouraset (Turkey), Solimpeks (Turkey), Absolicon Solar Collector AB (Sweden), and HTP Comfort Solutions LLC. (US).

Regional Analysis

The global solar thermal collectors market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).

The Asia Pacific region is the biggest contributing region in the global solar thermal collectors market. The regional market is further anticipated to maintain its stay at the top by attaining the highest CAGR during the forecast period. The market herein is on a rapidly expanding path due to the ongoing urbanization and industrialization in the region. The presence of countries like China, India, and others is a major driving factor for the regional market due these nations quickly establishing itself as some of the leading manufacturing hubs. Furthermore, the regional market boasts a huge population base, which has a massive energy demand. To meet this massive demand, solar energy is being increasingly considered as a sustainable solution.

Industry Buzz

July 2019, Savosolar have most recently got an orfer from the Suur-Savon Sähkö Oy for a solar heating system. This is said to be the largest solar heating system supplied in all of Finland.

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Table Of Contents

1 Executive Summary

2 Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.3 Market Structure

2.4 Key Takeaways

2.5 Macro Factor Indicators Analysis

2.5.1 GDP (USD Million)

2.5.2 GNI Per Capita, Atlas Method (USD)

2.5.3 GDP Per Capita PPP (USD)

3 Market Insights

4 Research Methodology

4.1 Research Solution Type

4.2 Primary Research

4.3 Secondary Research

4.4 Market Size Estimation

4.5 Forecast Model

4.6 List Of Assumptions

5 Market Dynamics

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

6 Market Factor Analysis

6.1 Value Chain Analysis

6.2 Porter’s Five Forces Model

7 Global Solar Thermal Collectors Market, By Product Type

7.1 Overview

7.1.1 Concentrating

7.1.2 Non-Concentrating

8 Global Solar Thermal Collectors Market, By Application

8.1 Overview

8.1.1 Residential

8.1.2 Industrial

8.1.3 Commercial

Continued…..

List Of Figures

Figure 1 Global Solar Thermal Collectors Market: Market Structure

Figure 2 Research Solution Cable Type Of MRFR

Figure 3 Top Down & Bottom Up Approach

Figure 4 Drop Analysis Of Global Solar Thermal Collectors Market

Figure 5 Drivers Impact Analysis: Solar Thermal Collectors Market

Continued….

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