Global Solar Thermal Collectors Market is valued approximately at USD 4491.19 million in 2018 and is anticipated to grow with a healthy growth rate of more than 2.20 % over the forecast period 2019-2026. Solar thermal collector collects heat by absorbing sunlight. A collector is a device for capturing solar radiation. Solar radiation is energy in the form of electromagnetic radiation from the infrared (long) to the ultraviolet (short) wavelengths. Further, Solar Thermal Collectors is being increasingly used in various applications such as residential, non-residential and utility sectors. The growth of the market is primarily driven by increasing awareness of the depleting non-renewable energy resources. For Instance: According to the United States Energy Information Administration (EIA) in 2018, the administration presented projects that CO2 emission is expected to increase by1.8 % from 5,143 million metric tons in 2017 to 5,237 million metric tons in 2018. As fossil fuel resources are depleting and results in GHG emissions hence, energy production from renewable sources are being explored. As a result, the adoption of solar thermal collectors would increase thereby, supplementing the growth of the market. However, the lack of sunlight in adequate quantity in several nations, owing to climatic conditions is one of the significant factors that is expected to restrict the growth of the overall market.
The regional analysis of global Solar Thermal Collectors market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to hold a notable share in the world in terms of revenue owing to the high investments in solar energy plans to achieve a future with sustainable energy. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period.
Major market player included in this report are:
Apricus Solar Co. Ltd
Alternate Energy Technologies, LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Solar Thermal Collectors Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers