05 September 2019
Visiongain’s new report the Solar Thermal Collectors Market Report 2019-2029: Forecasts by Product [Concentrating, Non-Concentrating (Flat Plate, Evacuated Tube, Unglazed Water Collector, Air Collector)], by Application (Commercial, Residential, Industrial), by region and analysis of leading companies indicates that the Global Solar Thermal Collectors Market was valued at $21 billion by 2029
Growing demand for solar thermal collectors from various industrial, commercial, and residential sector is anticipated to provide positive scope for market growth over the forecast period. Asia Pacific was the largest market in 2018 in terms of revenue and is expected to dominate the industry over the coming years. Rapid industrialization in China, Japan, India, Southeast Asia, and South Korea is expected to offer lucrative opportunity for solar thermal collector manufacturers to increase their production facilities to cater growing industry requirements. However, high cost of the product is expected to be the major restraint for the industry.
It is expected that the development of novel techniques to improve the product's effectiveness will provide favorable market growth scope. Different businesses and educational institutes are investing in research & development to decrease the product's price and boost its production. On the basis of product, solar thermal collectors market is divided into concentrating and non-concentrating out of which non-concentrating product accounted for more than 80% of overall market share in 2018.
Due to the large-scale use of resources such as crude oil and coal for power generation, fossil fuels are experiencing depletion. This in turn contributes to enhanced pollution of the environment. Electricity demand is also experiencing development as a result of enhanced living standards. Due to a shortage of qualified employees and installers, solar heat collectors are not commonly used in industrial applications. However, the demand for the item in national implementation is anticipated to boost owing to the rise in the building industry and elevated energy prices.
In water heating application and other residential operations, solar thermal collectors are increasingly used. Growing population along with other environmental problems is anticipated to exaggerate the restricted energy resources combined with increasing human requirements to boost demand for residential solar thermal collector over the projected period.
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he decision of US shale oil and gas producers to limit their production for 2020 and the in an effort to stabilize the oil price and increase their revenue, as well as the OPEC discussions for further production cuts are expected to play a critical role in the market and restrain the land seismic acquisition activity.
06 December 2019
The demand of thermal enhanced oil recovery (EOR) market is expected to increase in the coming years owing to continuous work over oil fields, rapid depletion of fossil fuels, increasing long-term demand for oil are the prime factors propelling the demand of thermal enhanced oil recovery (EOR) market globally.
04 December 2019
In the forecast period, backed by new government policies on exploration and production and stability of global crude oil prices, the offshore oil and gas industry is expected to gain traction.
02 December 2019
The global shipping sector confronted IMO regulations in 2015 to significantly reduce vessel pollution of sulfur, first in North America and then in Northern Europe.