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
Visiongain’s new report the Solar Thermal Collectors Market Report 2019-2029 indicates that the Global Solar Thermal Collectors Market was valued at $21 billion by 2029
Factors Driving the Market Growth:
• Growing Demand for Renewable Energy Sources
According to International Energy Association, renewables will have the fastest growth in the electricity sector, providing almost 30% of power demand in 2023, up from 24% in 2017. During this period, renewables are forecast to meet more than 70% of global electricity generation growth, led by solar PV and followed by wind, hydropower, and bioenergy.
• Rising Construction Activities All Over the World
According to The U.S. Census Bureau Construction Statistics for June 2019, construction spending during June 2019 was estimated at $1,287.0 billion. Increasing population followed by growing spending power in developing countries such as India, China, Brazil, and Southeast Asian countries is expected to increase construction activities over the projected period.
Factors Restraining the Market Growth:
• Growing popularity of solar PV technology
Rapidly falling prices have made solar more affordable than ever. The average price of a completed PV system has dropped by more than 50 percent over the last ten years. The cost of PV has dropped dramatically as the industry has scaled up manufacturing and incrementally improved the technology with new materials. Installation costs have come down too with more experienced and trained installers. Globally, the U.S. has the third largest market for PV installations, and is continuing to rapidly grow. Increasing popularity of solar PV technology is expected to be the potential threat for solar thermal collectors market.
Market Segmentation 2019-2029:
The Solar Thermal Collectors Market is segmented on the Product, Application, and Regional basis.
– Flat Plate
– Evacuated Tube
– Unglazed Water Collector
– Air Collector
Focused regional forecasts and analysis explore the future opportunities:
• North America
• Global solar thermal collectors competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry
• The market competition is expected to be on the basis of new product development and product pricing.
• High cost of the product is expected to be the major threat for the industry as large number of substitutes with less cost are available in the market such as photovoltaics and concentrated photovoltaics.
Major Market Players:
Apricus Solar Co. Ltd, Sunerg Solar S.R.L, Sunearth, Alternate Energy Technologies, LLC, Sunmaxx Solar, Solimpeks, TIGI, Ouraset Solar, GreenoneTec, HTP, TVP Solar, Sun Master, Solar Millennium AG, Solar Skies Mfg., Airlight Energy, SorTech, Efficax Energy, Trevi Systems, Boen Solar Energy, Artic Solar, Sunplate, Solarkilns Holdings Pty Ltd, Absolicon Solar Concentrator AB, Solarus, Suncore AB, HelioCaminus, Aventa AS, Cogen Microsystems, Thermomax.
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