Market Research Future (MRFR) discusses controlling forces of the global solar thermal collector market 2020 in its newly published report. There are important consequences of COVID 19 pandemic on the solar thermal collectors market is discussed in the report. MRFR study reveals that the solar thermal collectors market is expert to rise at 7.8% CAGR across the assessment period 2018 to 2023. The solar thermal collector market value can rise to USD 41,960 Mn by 2023.
The increase in environmental consciousness and the shift in preference from fossil fuel reserves to renewable energy applications can impel the expansion of the solar thermal collectors market in the years to come. The rapid depletion of fossil fuel and high ease of accessibility of renewable fuel sources can promote the expansion of the solar thermal market in the foreseeable future. The growing residential, commercial, and industrial applications of solar thermal collectors can impel the expansion of the solar thermal market across the analysis period. The increase in water heating and air heating solution demand among people due to rise in their energy consumption can spur the expansion of the solar thermal market across the review period. The rise in demand for energy efficiency and rapid industrialization can fuel the expansion of the solar thermal collector market. The solar thermal collector market surge can be attributed to the growing industrial applications across the analysis period.
On the contrary, the increase in initial installation cost of solar thermal collectors can deters the rise of the market. However, the high focus of government in the development of renewable energy technology can combat the slowdown of the market across the analysis period.
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The global solar thermal collector market trends are studied across Europe, North America, Asia-Pacific, and the Rest of the World. Asia Pacific solar thermal collectors market is expected to rise at the highest pace across the analysis period due to increase in the installation of solar thermal collectors in the region. As per MRFR regional study, solar thermal collector market can secure the largest share of the global market. The solar thermal collectors market in EU can grow at the highest pace across the review period due to rapid industrialization and continuous development in energy and power sector. The emerging energy and power industry in the North America region can support the rise of solar thermal collectors market across the review period. The increase in energy demand and consumption by the rising population in North America can impel the expansion of the solar thermal collector market across the analysis period in the analysis period.
The segment evaluation of the global solar thermal collectors market is done by product type and application. The product types based segments of the solar thermal collector market are non-concentrating and concentrating. The concentrating sub-segments are parabolic dish, compound parabolic concentrator, solar tower, and parabolic trough. The non-concentrating segments are evacuated tube and flat plate. The expansion of the solar thermal collector market can be due to increase in adoption of concentrating solutions. The non-concentrating segment can stir up high revenue in the years to come. The application based segments of the solar thermal collectors are industrial, residential, and commercial. The industrial application segment can earn substantial revenue in the years to come.
HTP Comfort Solutions LLC., Absolicon Solar Collector AB, TVP Solar, Solimpeks, Alternate Energy Technologies, Sunerg Solar s.r.l., LLC., Ouraset, SunEarth, GREENONETEC SOLARINDUSTRIE GMBH, and Heliodyne, Inc are some reputed solar thermal collectors marketers as reported by MRFR.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Macro Factor Indicators Analysis
2.5.1 GDP (USD Million)
2.5.2 GNI Per Capita, Atlas Method (USD)
2.5.3 GDP Per Capita PPP (USD)
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