01-Mar-2021 | Zion Market Research
As per Zion Market Research, the global solar thermal collector market was capitalized at USD 4595 million in 2019 and is estimated to attain USD 5508 million by the end of 2025, growing at a CAGR of over 2.7% during the forecasted period 2019–2025. A solar thermal collector is particularly designed for tapping the thermal energy from the Sun. These collectors are extensively being used in laboratories, research & development facilities, commercial buildings, industries, and households. The rising awareness concerning the advantages of solar thermal collectors is one of the major aspects expected to boost the growth of the global market. As per the analysis, the market is projected to witness a strong growth rate in the forecasted period.
Some of the key players in the market are TVP Solar, Solar Millennium AG, Sun Master Energiesysteme GmbH, Alternate Energy Technologies, LLC, SunMaxx Solar, and Solar Skies Mfg., LLC. These companies are making outstanding efforts to make use of alternate materials that will aid in making their products economical. Additionally, the augmenting focus on research & development activities and modernization, the market is likely to register substantial growth in the future.
Increasing Awareness For Depleting Non-Renewable Energy To Boost The Global Solar Thermal Collector Market
The rising consciousness of the expending non-renewable energy reserves and the enormously increasing oil prices are some of the main factors that are estimated to fuel the expansion of the global solar thermal collectors market. Besides, the augmenting preference of consumers toward cost-effective alternatives for energy is another aspect anticipated to provide potential opportunities for the major players in the worldwide market. As solar energy is obtainable free of cost, the only required price is of the equipment that is needed for transforming heat or solar energy into the usable energy. This is expected to boost the global solar thermal collectors market in the future. On the contrary, the lack of sunlight in sufficient quantity in many countries due to climatic conditions is one major factor that is likely to limit the growth of the overall market in the forecasted period.
The global solar thermal collector market is bifurcated on the basis of product, application, and regional analysis. Based on the product, the market is divided into flat plate, concentrating, non-concentrating, unglazed water collectors, evacuated tube, and air collectors. Based on the application, the market is divided into residential, commercial, and industrial.
The North America Region Expected To Dominate The Global Solar Thermal Collector Market
Based on geographical analysis, the global solar thermal collector market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The U.S. contributed the North American market with a volume share of over 70.5% during 2016. The commercial application and heating of swimming pools accounted for a major market across the U.S. The increasing concerns about the depletion of natural resources are expected to boost the demand for the solar thermal collector in the U.S.
Browse the full “Solar Thermal Collectors Market - By Product (Flat Plate, Concentrating, Non-Concentrating, Unglazed Water Collectors, Evacuated Tube, And Air Collectors), By Application (Residential, Commercial, And Industrial), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/solar-thermal-collector-market
The global solar thermal collector market is segmented as follows:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651