Global Solar Thermal Collectors Market to Reach $66 Billion by 2030
The global market for Solar Thermal Collectors estimated at US$40.4 Billion in the year 2023, is expected to reach US$66 Billion by 2030, growing at a CAGR of 7.3% over the period 2023-2030. Non-Concentrating Solar Thermal Collectors, one of the segments analyzed in the report, is expected to record 7.5% CAGR and reach US$60.7 Billion by the end of the analysis period. Growth in the Concentrating Solar Thermal Collectors segment is estimated at 5.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $10.6 Billion, While China is Forecast to Grow at 10.8% CAGR
The Solar Thermal Collectors market in the U.S. is estimated at US$10.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$16 Billion by the year 2030 trailing a CAGR of 10.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 6.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
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