Global Solar Thermal Market 2022-2026

Global Solar Thermal Market 2022-2026

Technavio has been monitoring the solar thermal market and it is poised to grow by 167187.58 MW during 2022-2026, accelerating at a CAGR of 5.71% during the forecast period. Our report on the solar thermal market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rise in investments in renewable energy, thermal energy storage increases the operational time of CSP and global energy transition.

The solar thermal market analysis includes the application segment and geographic landscape.

Technavio's solar thermal market is segmented as below:

By Application

• Heat generation
• Power generation

By Geographical Landscape

• North America
• APAC
• Europe
• The Middle East and Africa
• South America

This study identifies solar thermal enhanced oil recovery as one of the prime reasons driving the solar thermal market growth during the next few years. Also, the development of zero-energy buildings and reduction in CSP system costs will lead to sizable demand in the market.

Technavio presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters. Our report on the solar thermal market covers the following areas:

• Solar thermal market sizing
• Solar thermal market forecast
• Solar thermal market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading solar thermal market vendors that include Acciona SA, Actividades de Construccion y Servicios SA, BrightSource Energy Inc, ContourGlobal Plc, Cosmosolar Ltd, DEL PASO SOLAR SL, Elianto Srl, ENGIE SA, General Electric Co, GlassPoint, GREENoneTEC Solarindustrie GmbH, Heliodyne Inc., Nextera Energy Inc., Nobel International EAD, RIOGLASS SOLAR HOLDING SA, SR Energy, SunEarth Inc, SunMaxx Solar, TVP Solar, and Vaillant Group. Also, the solar thermal market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.