Growth Factors of Solar Thermal Market
The solar thermal market size was valued at 496.15 GW in 2018, and the market is now projected tgrow 984.39 GW in 2032, exhibiting a CAGR of 4.97% during the forecast period of 2019-2032.
WERA confirms that the COVID-19 pandemic has had a detrimental effect on the solar thermal market by slowing the implementation of projects and a decrease in newly installed systems owing tdisruptions in supply chain and shortage of working force. The market was alsnegatively impacted by a decrease in economic output and investment for renewable energy projects when the pandemic began in an earlier stage. But the demand for sustainable energy solutions slowly rose as governments and industries started including green recovery and emission reductions in their strategies post pandemic. The change towards usage of residential and commercial solar thermal systems was alsdone as the people demanded efficient energy. There is hope that problems that have beset the market early will solve as companies shift their concentration tcleaner energy.
One of the main reasons behind the growth of the solar thermal market is that the world is increasingly turning tclean fuel thelp curb emissions. Application of solar thermal systems is diverse in nature and provides an opportunity for decreased utilization of fossil fuel. Their effective operational value and subsequently their economic endowment tboth consumers and service suppliers alsadds tcategory expansion. However, one of the most important benefits accruing from use of metallic foam is that increased adoption of renewables promotes solar thermal systems. All the above factors combined justify the development of the solar thermal market.
Most current trends in the solar thermal market involve the blurring of the line between solar thermal and other renewable technologies for improved performance. Storage is rapidly growing as a key element in increasing reliability and performance of solar thermal plants, tprovide energy in non-solar hours. Solar thermal solutions are alsgaining pace for industrial uses for removing carbon footprints while conducting operations. Also, advancing technologies of the affordable solar thermal technologies that are compact in design increases their market in the residential and commercial segments. Alsgovernment incentives and polices for clean technology are propelling the demand for solar thermal systems.
Comprehensive Analysis of Solar Thermal Market
The solar thermal market growth is rising at an exponential rate due tits market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by collector type analysis, by type of system analysis, and by application analysis. By collector type analysis include evacuated tube collector, flat plate collector, unglazed water collector, and air collector. By type of system analysis include thermosiphon solar heating systems, and pumped solar heating system. By application analysis include domestic hot water systems, large DHW systems, solar combi systems, swimming pool heating, and others.
The Asia Pacific region lead the solar thermal market share by benefitting a market size of 375.54 GW in 2018 due tits research & development activities for increasing efficiency of solar.
The top players in the markets have a central responsibility in the power & energy industry tbe sure of industrial prospectus development and testablish the market norms. These players include, BrightSource Energy, Abengoa Solar, Siemens, Acciona, SolarReserve, Torresol Energy, Trivelli Energia, Abors green GmbH, Parvolen CSP Technologies, Sener, Lointek, and SCHOTT these market players provide a level-playing competitive landscape.
In November 2019, Heliogen, funded by Bill Gates, unveiled technology capable of reaching 1,000°C, aiming treplace fossil fuels in industrial processes and reduce GHG emissions.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2015-2026
Base Year 2018
Forecast Period 2019-2026
Historical Period 2015-2017
Unit Volume (GW)
Segmentation By Collector Type
Evacuated Tube Collector
Flat Plate Collector
Unglazed Water Collector
Air Collector
By Type of System
Thermosiphon Solar Heating Systems
Pumped Solar Heating System
By Application
Domestic hot water systems
Large DHW systems
Solar Combi systems
Swimming pool heating
Others
By Region
North America (the U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Turkey and the Rest of Europe)
Asia Pacific (China, India, Japan, Australia, Southeast Asia and the Rest of Asia Pacific)
Latin America (Brazil, Mexicand the Rest of Latin America)
Middle East & Africa (GCC, South Africa and the Rest of the Middle East & Africa)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
- 5. Global Solar Thermal Market Analysis (GW), Insights and Forecast, 2015-2026
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Collector Type
- 5.2.1. Evacuated Tube Collector
- 5.2.2. Flat Plate Collector
- 5.2.3. Unglazed Water Collector
- 5.2.4. Air Collector
- 5.3. Market Analysis, Insights and Forecast – By Type of System
- 5.3.1. Thermosiphon Solar Heating Systems
- 5.3.2. Non-Thermosiphon Solar Heating Systems
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Domestic Hot Water System
- 5.4.2. Large DHW System
- 5.4.3. Solar Combi System
- 5.4.4. Swimming Pool Heating
- 5.4.5. Other
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Solar Thermal Market Analysis (GW), Insights and Forecast, 2015-2026
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Collector Type
- 6.2.1. Evacuated Tube Collector
- 6.2.2. Flat Plate Collector
- 6.2.3. Unglazed Water Collector
- 6.2.4. Air Collector
- 6.3. Market Analysis, Insights and Forecast – By Type of System
- 6.3.1. Thermosiphon Solar Heating Systems
- 6.3.2. Non-Thermosiphon Solar Heating Systems
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Domestic Hot Water System
- 6.4.2. Large DHW System
- 6.4.3. Solar Combi System
- 6.4.4. Swimming Pool Heating
- 6.4.5. Other
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 7. Europe Solar Thermal Market Analysis (GW), Insights and Forecast, 2015-2026
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Collector Type
- 7.2.1. Evacuated Tube Collector
- 7.2.2. Flat Plate Collector
- 7.2.3. Unglazed Water Collector
- 7.2.4. Air Collector
- 7.3. Market Analysis, Insights and Forecast – By Type of System
- 7.3.1. Thermosiphon Solar Heating Systems
- 7.3.2. Non-Thermosiphon Solar Heating Systems
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Domestic Hot Water System
- 7.4.2. Large DHW System
- 7.4.3. Solar Combi System
- 7.4.4. Swimming Pool Heating
- 7.4.5. Other
- 7.5. Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Turkey
- 7.5.7. Rest of Europe
- 8. Asia Pacific Solar Thermal Market Analysis (GW), Insights and Forecast, 2015-2026
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Collector Type
- 8.2.1. Evacuated Tube Collector
- 8.2.2. Flat Plate Collector
- 8.2.3. Unglazed Water Collector
- 8.2.4. Air Collector
- 8.3. Market Analysis, Insights and Forecast – By Type of System
- 8.3.1. Thermosiphon Solar Heating Systems
- 8.3.2. Non-Thermosiphon Solar Heating Systems
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Domestic Hot Water System
- 8.4.2. Large DHW System
- 8.4.3. Solar Combi System
- 8.4.4. Swimming Pool Heating
- 8.4.5. Other
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. Japan
- 8.5.3. India
- 8.5.4. Australia
- 8.5.5. Southeast Asia
- 8.5.6. Rest of Asia Pacific
- 9. Latin America Solar Thermal Market Analysis (GW), Insights and Forecast, 2015-2026
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Collector Type
- 9.2.1. Evacuated Tube Collector
- 9.2.2. Flat Plate Collector
- 9.2.3. Unglazed Water Collector
- 9.2.4. Air Collector
- 9.3. Market Analysis, Insights and Forecast – By Type of System
- 9.3.1. Thermosiphon Solar Heating Systems
- 9.3.2. Non-Thermosiphon Solar Heating Systems
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Domestic Hot Water System
- 9.4.2. Large DHW System
- 9.4.3. Solar Combi System
- 9.4.4. Swimming Pool Heating
- 9.4.5. Other
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America
- 10. Middle East & Africa Solar Thermal Market Analysis (GW), Insights and Forecast, 2015-2026
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Collector Type
- 10.2.1. Evacuated Tube Collector
- 10.2.2. Flat Plate Collector
- 10.2.3. Unglazed Water Collector
- 10.2.4. Air Collector
- 10.3. Market Analysis, Insights and Forecast – By Type of System
- 10.3.1. Thermosiphon Solar Heating Systems
- 10.3.2. Non-Thermosiphon Solar Heating Systems
- 10.4. Market Analysis, Insights and Forecast – By Application
- 10.4.1. Domestic Hot Water System
- 10.4.2. Large DHW System
- 10.4.3. Solar Combi System
- 10.4.4. Swimming Pool Heating
- 10.4.5. Other
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. South Africa
- 10.5.2. GCC
- 10.5.3. Rest of the Middle East & Africa
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Company Profile
- 11.2.1. BrightSource Energy
- 11.2.1.1. Business Overview
- 11.2.1.2. Product & Service Offering
- 11.2.1.3. Overall Revenue
- 11.2.1.4. Geographic Presence
- 11.2.1.5. Recent Development
- 11.2.2. Abengoa Solar
- 11.2.2.1. Business Overview
- 11.2.2.2. Product & Service Offering
- 11.2.2.3. Overall Revenue
- 11.2.2.4. Geographic Presence
- 11.2.2.5. Recent Development
- 11.2.3. Siemens
- 11.2.3.1. Business Overview
- 11.2.3.2. Product & Service Offering
- 11.2.3.3. Overall Revenue
- 11.2.3.4. Geographic Presence
- 11.2.3.5. Recent Development
- 11.2.4. Acciona
- 11.2.4.1. Business Overview
- 11.2.4.2. Product & Service Offering
- 11.2.4.3. Overall Revenue
- 11.2.4.4. Geographic Presence
- 11.2.4.5. Recent Development
- 11.2.5. SolarReserve
- 11.2.5.1. Business Overview
- 11.2.5.2. Product & Service Offering
- 11.2.5.3. Overall Revenue
- 11.2.5.4. Geographic Presence
- 11.2.5.5. Recent Development
- 11.2.6. Torresol Energy
- 11.2.6.1. Business Overview
- 11.2.6.2. Product & Service Offering
- 11.2.6.3. Overall Revenue
- 11.2.6.4. Geographic Presence
- 11.2.6.5. Recent Development
- 11.2.7. Trivelli Energia
- 11.2.7.1. Business Overview
- 11.2.7.2. Product & Service Offering
- 11.2.7.3. Overall Revenue
- 11.2.7.4. Geographic Presence
- 11.2.7.5. Recent Development
- 11.2.8. Abors green GmbH
- 11.2.8.1. Business Overview
- 11.2.8.2. Product & Service Offering
- 11.2.8.3. Overall Revenue
- 11.2.8.4. Geographic Presence
- 11.2.8.5. Recent Development
- 11.2.9. Parvolen CSP Technologies
- 11.2.9.1. Business Overview
- 11.2.9.2. Product & Service Offering
- 11.2.9.3. Overall Revenue
- 11.2.9.4. Geographic Presence
- 11.2.9.5. Recent Development
- 11.2.10. Sener
- 11.2.10.1. Business Overview
- 11.2.10.2. Product & Service Offering
- 11.2.10.3. Overall Revenue
- 11.2.10.4. Geographic Presence
- 11.2.10.5. Recent Development
- 11.2.11. Lointek
- 11.2.11.1. Business Overview
- 11.2.11.2. Product & Service Offering
- 11.2.11.3. Overall Revenue
- 11.2.11.4. Geographic Presence
- 11.2.11.5. Recent Development
- 11.2.12. SCHOTT
- 11.2.12.1. Business Overview
- 11.2.12.2. Product & Service Offering
- 11.2.12.3. Overall Revenue
- 11.2.12.4. Geographic Presence
- 11.2.12.5. Recent Development "
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