"Actionable Insights to Fuel Your Growth"
The world underwent through catapult of energy demand over a period of time. Exponential industrial and commercial growth has extensively increased the consumption of oil and gas. Eventually, the oil and gas reserves are on the verge of extinction. The enormous consumption of oil and gas has not only deteriorated environment but also put down the oil and gas reserves on the brink of extinction. Several countries and researchers working on discovering alternative to fossil fuel. The solar energy has the greatest advantage as compared with other forms of energy is that it is clean and can be supplied without any environmental pollution. Solar power has enabled in achieving sustainable energy development. A solar thermal collector is vital in transforming solar radiation into heat and transfer that heat to a medium (water or air). Then the solar heat can be used for water heating, solar heating, and cooling or heating swimming pools. In the forthcoming years, solar thermal collectors expected to gain substantial growth owing to extensive adoption of clean energy sources.
The solar thermal collector market can be divided into type and application. Type is further bifurcated into concentrating and non-concentrating. Flat plate collector is expected to dominate the solar thermal collector market due to broad-scale application in residential and commercial purpose for heating and cooling. The residential and industrial segments projected to account massive growth owing to an increase in the prices of conventional energy sources.
Key Market Driver -
Key Market Driver – Rising concern over GHG emission and alternative for depleting energy sources
Key Market Restraint -
Key Market Restraint – Intermittent availability of solar power and high payback period
The growing concern over enormous carbon emission, rising earth’s temperature, and sea level are enabling the growth of renewable energy sources, which expected to fuel the solar thermal collector market. The depletion of valuable energy reserves has opened the door for clean energy sources to mitigate the rising demand for energy, which expected to bolster the growth of the solar thermal collector.
The intermittent availability of solar rays and the lack of adequate sunlight in some countries across the world may hinder the growth of the solar thermal collector market. The payback period for the solar thermal collector is quite high which expected to restrain the growth of the solar thermal collector
Some of the major companies in the solar thermal collector market are Sunrain, GREENoneTEC Solarindustrie GmbH, Dezhou BTE Solar Co.,ltd, Viessmann, Chromagen LTD, Apricus Eco-Energy, Sunerg Solar srl, SunEarth, Alternate Energy Technologies, Solimpeks Solar Corp, TIGI, and Ouraset Solar.
The global solar thermal collector market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is likely to dominate the solar thermal collector market due to large scale adoption of clean energy sources to mitigate the rising GHG emission. The EIA is working several federal states for the installation of the solar thermal collection in residential and commercial premises to produce pollution-free energy. European Commission is committed to meet renewable energy targets to reduce GHG emissions. Germany, Turkey, Italy, Greece, Spain, Denmark, and Austria, among others are increasingly investing solar heating and cooling for industrial processes and solar district heating that may exhibit concrete growth for the solar thermal collector market. Asia Pacific is experiencing robust growth in terms of overall solar energy installation.
To gain extensive insights into the market, Request for Customization
China is the leading country in the world behind U.S. for installed solar capacity. In the forthcoming years India and China are committed to expanding solar power installation that may fuel the growth of the solar thermal collector in APAC. The African countries shifting their focus from traditional energy sources to clean energy sources. The World Bank Group will invest $200 billion globally to 2025 to help developing countries to move to a low carbon future. Large energy deficit and crumbling infrastructure make African countries fertile ground for solar. These would bring new opportunities for the growth of the solar thermal collector market in MEA.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry