About Solar Thermal Collector
The solar thermal collector is used to convert solar energy into heat. There are two types of a solar thermal collector such as concentrating and non-concentrating. Solar thermal collector market has high growth prospects owing to increasing demand for the environment-friendly energy sources. In addition, rising application of solar thermal collector for the residential and commercial sector, increasing demand for electricity, and technological advancement to improve the efficiency of the solar thermal collector expected to drive the demand for solar thermal collector over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.98% |
Competition among existing players is due to the Solar Thermal Collector market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Solar Thermal Collector market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar Thermal Collector market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Solar Millennium AG (Germany), TVP Solar (Switzerland), Alternate Energy Technologies, LLC (United States), Sun Master Energiesysteme GmbH (Austria), Solar Skies Mfg. LLC (United States), SunMaxx Solar (United States), Ouraset Solar (Turkey), GreenoneTec (Austria), Heliodyne, Inc. (United States) and Sunearth (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Apricus Solar Co. Ltd. (China), Sunerg Solar S.R.L (Italy) and Solimpeks (Turkey).
Segmentation Overview
AMA Research has segmented the market of Global Solar Thermal Collector market by Type (Concentrating and Non-Concentrating [Flat Plate, Evacuated Tube, Unglazed Water Collectors, Air Collectors]), Application (Space heating applications, Process heat applications and Others) and Region.
On the basis of geography, the market of Solar Thermal Collector has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Commercial will boost the Solar Thermal Collector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emphasizing On Technological Advancement to Improve the Efficiency of the Solar Thermal Collector and Rise in Application of Solar Thermal Collector for Residential Use
Market Growth Drivers:
Rise in Demand Alternative Power Generation Sources Owing to Depletion of Nonrenewable Sources and Growing Industrialization in the Developing Countries
Challenges:
Ineffectivity of Solar Thermal Collector in the Lack of Sunlight
Restraints:
High-Cost Associate with Solar Thermal Collector and Stringent Government Regulation Regarding Power Generation
Opportunities:
Rise in Demand Form Emerging Economies and Increasing Demand for Electricity Globally
Market Leaders and their expansionary development strategies
In November 2023, Meriaura Group Plc has entered into an agreement with the shareholders of Rasol Ltd, Eero Lehvonen and Markus Rantavuori (‘Sellers’), to acquire the entire share capital of Rasol through a share exchange. Rasol is a company established in 2019 that sells and installs solar power systems mainly in the Southern Finland
In August 2023, The French Environment and Energy Management Agency (Ademe) has launched a tender for large-solar thermal installations and heat pumps for the production of hot water.
“According to European Solar Thermal Industry Federation (ESTIF), solar obligations fundamentally change the way the solar thermal market functions. Within a solar obligation, proper quality assurance measures must before seen, including quality parameters for the products, installation and maintenance, as well as a clear inspection and sanctioning regime.”
Key Target Audience
Solar Thermal Collector Manufacturer, Technology Distributors, Potential Investors, Industry Associations, Market Research Firms, Government Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.