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Solar Thermal Collector Market: Global Industrial Analysis, Size, Share, Growth, Trends, and Forecast 2018-2024


Sarasota, FL -- (SBWIRE) -- 06/18/2018 -- Global Solar Thermal Collector Market: Overview

Solar thermal energy is used to heat water and air. Active solar heating systems have thermal collectors that are used to absorb the thermal energy, provided by sun, for water heating and space heating. Roof mounted solar panels (collectors) are the main source of heat generations, which are used in conjunction with a boiler, collector or immersion heater. Solar collector use the sun rays to heat a transfer fluid which is usually a mixture of water and glycol. Glycol works as anti-freeze and prevents the water from freezing. In concentrated solar power plants, some complex types of solar thermal collectors are used to generate electricity.

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Global Solar Thermal Collector Market: Growth Factors

Depletion of non renewable sources and increasing prices of oils are the major factors expected to drive the demand for solar thermal collectors in the next few years. Moreover, they are also installed at new residential places for applications such as water heating and space heating. Furthermore, these solar thermal collectors are now used at commercial places such as shopping malls, hotels etc. which is anticipated to fuel the growth of global solar thermal collectors market. Further, solar thermal collectors are cheaper compared to other heating options available which make them preferable among consumers.

On the other hand, several nations do not have adequate quantity of sunlight all-over the year due to climatic conditions which is one of the main restraining factors in the growth of this market. Moreover, output of solar thermal collectors is not as required in less sunlight which is another restraining factor for this market. Furthermore, there is a lack of awareness in some developing countries regarding the benefits of solar thermal collectors hindering the adoption of thermal collectors.

Global Solar Thermal Collector Market: Segmentation

Global solar thermal collector market is segmented on the basis of product type, and applications. On the basis of product type, the market is classified as concentrating and non-concentrating. Non-concentrating type segment is further classified into flat plate, evacuated tube, unglazed water collectors, and air collectors. Presently, non-concentrating product type segment dominates the market. The market is segregated on the basis of applications into commercial, residential, and industrial.

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Global Solar Thermal Collector Market: Regional Analysis

In the near future, Asia-Pacific is expected to hold the largest share of the global solar thermal collector market and the region is further expected to grow at fastest rate in the forecast period. India and China are expected to contribute most towards solar thermal collector market in Asia-Pacific region. The North American solar thermal collector market ranks second and is dominated by the U.S. due to commercial applications in the region such as heating of swimming pools. European market is stagnant due to lower oil and gas rates and higher electricity rates; however, the region is expected to show growth opportunities due to increase in the investments in the tourism sector.

Global Solar Thermal Collector Market: Competitive Players

TVP Solar, Alternate Energy Technologies, LLC, Sun Master, Solar Millennium AG, SunMaxx Solar, Solar Skies Mfg.LLC, Sun Energiesysteme, Airlight Energy, SorTech, Efficax Energy, TigiSolar, Trevi Systems, Boen Solar Energy, Artic Solar, Sunplate, Solarkilns Holdings Pty Ltd, Absolicon Solar Concentrator AB, Solarus, AES, Suncore AB, HelioCaminus, Aventa AS, Cogen Microsystems, Thermomax are some of the major key players in solar thermal collectors market.

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