Solar Thermal Collectors Market Size, Growth & Trends Report

Q: What is the global market size of Solar Thermal Collectors Market?

Global solar thermal collectors market size was valued at USD 30.1 billion in 2022 and is poised to grow from USD 32.9 billion in 2023 to USD 67.01 billion by 2031, growing at a CAGR of 9.3% in the forecast period (2024-2031).

Solar Thermal Collectors Market Competitive Landscape

Solar thermal collector suppliers should focus on expanding their distribution network to maximize their sales potential going forward. Companies can also collaborate and partner with other market players to innovate and bring new types of products to the marketplace. Mergers and acquisitions are also forecasted to be highly attractive strategies adopted by established companies to improve their market presence and strengthen their lead in the global landscape. Market players can also work with governments to increase awareness regarding the benefits of solar thermal collectors to promote sales in the long run.

Top Player’s Company Profiles

SunMaxx Solar

Heliodyne Inc.

GreenoneTec

Solar Skies Mfg. LLC

Sunerg Solar S.R.L

TVP Solar

Ouraset Solar

Sunearth

Airlight Energy

Solar Millennium AG

Solimpeks

Sun Master Energiesysteme GmbH

FAQs

solar thermal collectors market size was valued at USD 30.1 billion in 2022 and is poised to grow from USD 32.9 billion in 2023 to USD 67.01 billion by 2031, growing at a CAGR of 9.3% in the forecast period (2024-2031).

Solar thermal collector suppliers should focus on expanding their distribution network to maximize their sales potential going forward. Companies can also collaborate and partner with other market players to innovate and bring new types of products to the marketplace. Mergers and acquisitions are also forecasted to be highly attractive strategies adopted by established companies to improve their market presence and strengthen their lead in the landscape. Market players can also work with governments to increase awareness regarding the benefits of solar thermal collectors to promote sales in the long run. 'SunMaxx Solar', 'Heliodyne Inc.', 'GreenoneTec', 'Solar Skies Mfg. LLC', 'Sunerg Solar S.R.L', 'TVP Solar', 'Ouraset Solar', 'Sunearth', 'Airlight Energy', 'Solar Millennium AG', 'Solimpeks', 'Sun Master Energiesysteme GmbH'

High focus on sustainability has led to a high demand for alternative renewable energy sources, which is slated to bolster solar thermal collectors market growth in the future. Moreover, the growing adoption of clean energy sources by eco-conscious consumers around the world will also create new opportunities for solar thermal collector companies in the future.

Investments in R&D: Companies can focus on increasing their investments in research and development programs to reduce the overall costs of solar thermal collector manufacturing and improve the overall efficiency of thermal collectors in the future. Since high initial investment is a major barrier to market growth, companies can develop products that are affordable for most people in order to boost sales and revenue generation potential.

The Asia Pacific region is estimated to account for a dominant share of the solar thermal collector's marketplace going forward. Rapid urbanization and industrialization are pushing the demand for energy in this region and increasing focus on sustainability is slated to favor the adoption of solar thermal collectors over the coming years. High utilization of solar thermal collectors in the industrial sector will allow the Asia Pacific region to hold a dominant stance in terms of solar thermal collector sales outlook through 2031. Incentivization and subsidization of solar installations in this region also contribute to its high market share. India, China, and Japan are slated to be the top markets for solar thermal collector companies in the long run.

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Solar Thermal Collectors Market Size, Share, Growth Analysis, By Product Type(Concentrating, and Non-Concentrating), By Application(Commercial, Residential, and Industrial), By Region - Industry Forecast 2024-2031

Solar Thermal Collectors Market Competitive Landscape

Solar Thermal Collectors Market Report Snapshots

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Solar Thermal Collectors Market Size, Share, Growth Analysis, By Product Type(Concentrating, and Non-Concentrating), By Application(Commercial, Residential, and Industrial), By Region - Industry Forecast 2024-2031

Solar Thermal Collectors Market Competitive Landscape

Solar Thermal Collectors Market Report Snapshots

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