Global Solar Thermal Collector Market, By Product Outlook (Concentrating and Non-Concentrating), Application Outlook (Commercial, Residential and Industrial), Collector Type (Evacuated Tube Collector, Flat Plate Collector, Unglazed Water Collector and Air Collector), Types of System (Thermosiphon Solar Heating System and Pumped Solar Heating System), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Solar Thermal Collector Market
Solar thermal collector market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the solar thermal collector market to account to USD 81.76 billion growing at a CAGR of 13.38% in the above-mentioned forecast period. Rising concern regarding depletion of natural resources has been directly impacting the growth of solar thermal collector market.
Solar thermal collector is used to heat water and air. Active solar systems have thermal collectors used to absorb heat energy, supplied by the sun, water heaters and space temperatures. Roof solar panels (collectors) are the main source of heat generation, used in conjunction with a boiler, collector or immersion heater. The solar collector uses the sun's rays to heat the transfer fluid, which is usually a mixture of water and glycol. Glycol acts as an anti-freeze and prevents water from freezing. In concentrated solar power plants, other complex types of solar thermal collectors are used to generate electricity.
Development of new technologies to increase the efficiency of the product is a main driver for solar thermal collector market. Growing demand for power and the depleting fossil fuels have triggered the need to find alternatives to fossil fuels for power generation which is also a driver for the solar thermal collector market. Due to an increase in the construction sector and high electricity rates is also an opportunity for the growth of solar thermal collector market.
Lack of sunlight in adequate quantity in several nations and high installation cost is a challenge for solar thermal collector market. However, less awareness among consumers regarding the benefits of making use of solar energy in underdeveloped and developing economies is a restraint in growth of solar thermal collector market during the forecast period of 2021-2028.
This solar thermal collector market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research solar thermal collector market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
In November 2019, Heliogen, announced its launch commercially concentrated solar energy to exceed temperatures greater than 1,000 degrees Celsius. At that temperature, Heliogen can replace the use of fossil fuels in critical industrial processes, including the production of cement, steel, and petrochemicals, dramatically reducing greenhouse gas emissions from these activities. This singular scientific achievement was accomplished at Heliogen’s commercial facility in Lancaster, California. Heliogen’s mission is to create the world’s first technology that can commercially replace fossil fuels with carbon-free, ultra-high temperature heat from the sun and to transform sunlight into fuels at scale taking a major step towards solving climate change.
Solar Thermal Collector Market Scope and Market Size
Solar thermal collector market is segmented on the basis of product outlook, application outlook, collector type and types of system. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product outlook, the solar thermal collector market is segmented into concentrating and non-concentrating. Non-concentrating is further segmented into flat plate, evacuated tube, unglazed water collectors and air collectors.
- Based on application outlook, the solar thermal collector market is segmented into commercial, residential and industrial.
- Based on collector type, the solar thermal collector market is segmented into evacuated tube collector, flat plate collector, unglazed water collector and air collector.
- Solar thermal collector market has also been segmented based on types of system, into thermosiphon solar heating system and pumped solar heating system.
Solar Thermal Collector Market Country Level Analysis
Solar thermal collector market is analysed and market size insights and trends are provided by country, product outlook, application outlook, collector type and types of system as referenced above.
The countries covered in the solar thermal collector market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the solar thermal collector market due to rising demand for solar thermal collectors for heating of swimming pools and other commercial applications. Growing awareness regarding the use of renewable energy over conventional energy sources in the region is expected to support revenue growth of the solar thermal collectors market. Emergence of advanced technology in industries is also a reason for the growth of market in this region. Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to rising number of initiatives taken by governments to encourage the use of solar energy.
The country section of the solar thermal collector market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solar Thermal Collector Market Share Analysis
Solar thermal collector market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solar thermal collector market.
The major players covered in the solar thermal collector market report are TVP Solar, Alternate Energy Technologies, LLC, Sunmaster Ltd., Solar Millennium AG, SunMaxx Solar, Solar Skies Mfg.LLC, Airlight Energy, Thermomax, Cogen Microsystems, Suncor Energy Inc., AES, Solarus, Absolicon Solar Collector AB, Solarkilns Pty Ltd, Sunplate Corporation, Artic Solar, Boen Solar Energy, Trevi Systems, SUNRAIN, Greenonetec Solarindustrie GmbH., LINUO RITTER INTERNATIONAL CO. LTD, Photon Energy Systems Limited among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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