Solar Thermal Collectors Market Size, Segmentation, Growth, Trends 2023

Posted by Anvi on February 6th, 2020

Global Solar Thermal Collectors Market Overview

The global solar thermal collectors market is likely to take on an impressive growth trajectory over the forecast period, as per the latest report designed by the experts at Market Research Future (MRFR). The importance of technologies and hardware which support the generation of renewable energy is more than ever before. There has been a tremendous uptick noticed in the demand for products which generate clean energy using sustainable methods and renewable sources over the past few years. This is the same reason contributing to the snowballing ascension noted in the global solar thermal collectors market. This report by Market Research Future (MRFR) has suggested that the global Solar Thermal Collectors Market Size is expected to expand and reach a market revenue valuation of USD 41,900 million by the end of the forecast period.

Solar Thermal Collectors Market Segmentation

The global solar thermal collectors market is studied for a unique set of segments that are based on product type, application, and region. Based on product type, the global solar thermal collectors market is segmented into concentrating and non-concentrating. Among these segments, the concentrating segment is divided further into compound parabolic concentrator, parabolic trough, parabolic dish, and solar tower. On the other hand, the non-concentrating segment is sub-segmented into flat plate and evacuated tube.  The non-concentrating segment is expected to boast a dominant stance in the global solar thermal collectors market.

Based on applications, the global solar thermal collectors market is segmented into residential, industrial, and commercial. Among these segments, the industrial application segment is expected to grow at the most rapid pace, holding the largest share of the global solar thermal collectors market.

Regional Analysis

The global solar thermal collectors market is studied for the regions of North America, Europe, Asia Pacific, and the Rest of the World.

Among these regions, the global solar thermal collectors market is led by Asia Pacific as the biggest contributor during the forecast period. This regional solar thermal collector market is also anticipated to witness fast paced ascension over the forecast period, as per the report, enabling it to retain its dominant hold on the global solar thermal collectors market over the forthcoming years. Countries such as India, China, and Japan, among others are expected to emerge as prominent growth pockets for solar thermal collectors market. this can be due to the rising demand for uninterrupted supply of energy in these emerging economies. Further, growing urbanization and industrialization has led to a stark rise in the demand for energy, leading to many new market entrants and existing market players to undertake various measures to fulfil these demands.

Key Players

Some principal players present in the global solar thermal collectors market include Absolicon Solar Collector AB, Solimpeks, TVP Solar, Sunerg Solar s.r.l., Alternate Energy Technologies, LLC., Ouraset, GREENONETEC SOLARINDUSTRIE GMBH, SunEarth, HTP Comfort Solutions LLC., and Heliodyne, Inc.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.