Solar Thermal Market Report Overview:
The research provides a complete study of insights into the Solar Thermal Market, covering dynamic patterns, industry landscape, and all major market elements. The Solar Thermal market research also includes a detailed analysis of leading players.
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Estimated Revenue Growth:
Solar Thermal Market size was valued at USD 21.55 Billion in 2022 and is expected to grow by 5.29% from 2023 to 2029, reaching nearly USD 30.91 Billion.
Solar Thermal Market Scope and Research Methodology:
The aim of this report is to assess and predict the size of the Solar Thermal market. It offers strategic profiles of significant market participants to provide an accurate depiction of the competitive landscape within the global Solar Thermal market. This includes a comprehensive analysis of recent developments such as new product launches, acquisitions, mergers, joint ventures, brand activities, and major players in the Solar Thermal industry. The report presents insights into industry trends, dynamics, and potentials, assisting professionals in staying informed about the latest trends and sector performance. This insight aids in predicting growth and decline in Solar Thermal market share over the forecast period.
In-depth understanding of the Solar Thermal industry was achieved through a combination of primary and secondary research methods. Various methodologies, including PESTLE, PORTER, and SWOT analysis, were employed to ensure accurate findings. SWOT analysis was employed to outline strengths, weaknesses, opportunities, and challenges for key players within the Solar Thermal industry. Additionally, the use of PORTER and PESTLE analysis allowed for an understanding of the microeconomic and macroeconomic factors influencing the Solar Thermal industry.
Solar Thermal Market Dynamics:
Rapid technological advancements and increased investment in solar energy
The market is expanding as a result of solar energy’s rapid technological advancement, increased government and private sector investment, and the availability of solar thermal applications in the building industry. For example, Chinese flat plate collector manufacturers increased production volume by 21% in response to rising demand from the country’s construction industry for both external building integration and central collector fields, despite the fact that the global solar thermal market contracted in 2019.
Solar Thermal Market Trends in 2021:
Small-scale solar thermal heating systems.
Every year, approximately 60% of all solar thermal installations worldwide are small-scale solar water heating systems, and to a lesser extent, solar combi-systems for combined hot water preparation and space heating in single-family homes, apartment buildings, multi-family homes, hotels and public buildings. Solar water heating has lately lost market share in large parts of Europe and China due to increased competition from photovoltaic systems and heat pumps. Pumped systems are the most popular, and they usually use complex system technology.
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Solar Thermal Market Segmentation:
by Collector Type
1.Evacuated Tube Collector
2.Flat Plate Collector
3.Unglazed Water Collector
4.Air Collector
5.Others
By Collector Type, the Solar Thermal Market is segmented into Evacuated Tube Collector, Flat Plate Collector, Unglazed Water, Air Collector, and Others. The Evacuated Tube Collector segment accounted for the largest market share in 2022. A smaller glass tube makes up the evacuated tube. Thanks to its capability to lower heat loss from the solar collector, this vacuum layer is a crucial component of solar thermal systems. Sun water heating, solar drying, solar air heating, and solar desalination are just a few uses for evacuated tube collectors.
by Applications
1.Domestic Hot Water Systems
2.Large DHW Systems
3.Solar Combi Systems
4.Swimming Pool Heating
5.Others
By Application, the Solar Thermal Market is segmented into Domestic Hot Water Systems, Large DHW Systems, Solar Combi Systems, Swimming Pool Heating, and Others. The Domestic Hot Water Systems segment held the largest market share accounting in 2022. The segment’s growth is attributed to the result of the increasing use of solar water heaters in homes thanks to their numerous advantages, including their high efficiency and low carbon footprint. In addition, home hot water heaters’ ability to be installed with less space and lower cost than conventional solar PV panels are expected to boost segment growth during the forecast period.
by Type of System
1.Thermosiphon Solar
2.Heating Systems
3.Pumped Solar Heating System
Solar Thermal Market Key Players:
1.Siemens AG
2.Solareast Holdings Co. Ltd
3.Greenonetec Solarindustrie GmbH
4.BTE solar Co. Ltd
5.Linuo Ritter International Co. Ltd
6.Acciona
7. SolarReserve
8.Torresol Energy
9.Trivelli Energy
10.Sener
11. Lointek
12.SCHOTT
13. Abors green GmbH
14. Liontek Photon Energy Systems Limited.
15.BrightSource Energy
16. Abengoa Solar
Solar Thermal Market Regional Perspectives:
The report is segmented into several key countries, with market size, growth rate, import and export of Solar Thermal market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
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Key Questions answered in the Solar Thermal Market Report are:
- Which segment grabbed the largest share in the Solar Thermal market?
- Which segment is expected to grow at a high rate during the forecast period?
- How is the competitive scenario of the Solar Thermal market?
- Which are the key factors driving the Solar Thermal market growth?
- Which are the factors restraining the Solar Thermal market growth?
- Which region holds the maximum share in the Solar Thermal market?
- What will be the CAGR of the Solar Thermal market during the forecast period?
- Which are the prominent players in the Solar Thermal market?
Key Offerings:
- A detailed Analysis of the Market Overview
- Market Share, Size & Forecast by Revenue | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Table of Content: Solar Thermal Market
Part 01: Executive Summary
Part 02: Scope of the Solar Thermal Market Report
Part 03: Solar Thermal Market Landscape
Part 04: Solar Thermal Market Sizing
Part 05: Solar Thermal Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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