“Growing demand for solar thermal collectors from various industrial, commercial, and residential sector is anticipated to provide positive scope for market growth for 2019-2029”, says Visiongain report

05 September 2019
Energy

Visiongain’s new report the Solar Thermal Collectors Market Report: 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.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Geothermal Power Market Report 2021-2031

Low operating costs associated with geothermal electricity generation drove the market during the historic period. Low operating costs associated with geothermal power encouraged many companies to invest in this market, contributing to the market growth.

06 January 2021

Read

Visiongain Publishes Flywheel Energy Storage Systems Market Report 2021-2031

High demand for long lasting, reliable, and ecologically sound energy storage systems to support advanced energy storage applications is expected to drive the demand for FESS. FESS is anticipated to witness high traction in electric vehicle application over the coming years, on account of its high power density, faster charging and low environmental impact.

11 December 2020

Read

Visiongain Publishes Tire Derived Fuel (TDF) Market Report 2021-2031

The comprehensive report offers market estimation and forecast for the period ranging 2021-2031 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of global tire derived fuels.

11 December 2020

Read

Visiongain Publishes Oil & Gas Pipeline Leak Detection Market Report 2021-2031

The COVID-19 crisis has dramatically affected oil and gas production and demand, leaving no midstream markets untouched as drilling screeched to a halt, pipeline projects were sidelined and global storage neared capacity in a stark reversal of trends at the start of 2020.

25 November 2020

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever