- The solar thermal collector market is witnessing significant expansion due to increasing demand for sustainable and cost-efficient energy solutions across residential, commercial, and industrial sectors
- Growing urbanization, rising electricity prices, and awareness regarding environmental sustainability are accelerating the deployment of solar thermal systems, especially in emerging economies
- Asia-Pacific dominated the solar thermal collector market with the largest revenue share of 45.3% in 2024, driven by strong government support for renewable energy, high solar irradiation levels, and increasing energy demand
- Europe region is expected to witness the highest growth rate in the global solar thermal collector market, driven by strict environmental regulations, growing demand for sustainable building heating systems, and the increasing adoption of solar thermal systems in residential and industrial applications across countries such as Germany, Spain, and France
- The non-concentrating segment dominated the market with the largest market revenue share in 2024, primarily due to its widespread use in residential water heating applications and cost-effective installation. These systems are preferred for their simplicity, ease of integration with existing infrastructure, and effectiveness in low to moderate temperature ranges. The market continues to see robust demand from households and small commercial buildings adopting basic solar thermal solutions for energy savings
