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According to IMARC Group latest report titled “Solar Thermal Collectors Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, offers a comprehensive analysis of the industry, which comprises insights on solar thermal collectors market size . The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global solar thermal collectors market size reached US$ 35.3 Billion in 2023 . Looking forward, IMARC Group expects the market to reach US$ 74.4 Billion by 2032 , exhibiting a growth rate (CAGR) of 8.64% during 2024-2032.
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Solar thermal collectors are a sophisticated technology designed to harness the sun's energy by converting it into heat, which is then used in various heating applications. These collectors play a crucial role in solar thermal systems, ranging from domestic hot water heating to large-scale industrial process heat applications. The technology behind solar thermal collectors is diverse, encompassing several types, including flat-plate collectors, evacuated tube collectors, and concentrating collectors, each suited to different climatic conditions and usage requirements. Flat-plate collectors, the most common type, consist of an insulated, weatherproofed box containing a dark absorber plate under one or more transparent covers. They are designed for moderate climatic conditions and are typically used for residential hot water heating.
Market Trends:
The growing awareness and concern over environmental issues, prompting both governments and consumers to seek cleaner energy alternatives, is driving the global market. Solar thermal technology, with its relatively low operating costs and minimal environmental impact, offers a viable solution for residential, commercial, and industrial heating needs. Furthermore, the rise in energy prices globally has further fueled the demand for solar thermal collectors. As consumers and businesses alike seek ways to mitigate the financial impact of rising fuel costs, solar thermal energy presents an attractive alternative for reducing dependence on grid-supplied electricity and gas for heating purposes. This economic incentive is a powerful driver behind the market's expansion.
Technological advancements in solar thermal collectors are also contributing to market growth. Innovations in materials and design have led to more efficient, durable, and cost-effective collector systems.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Absolicon Solar Collector AB Alternate Energy Technologies Apricus Solar Co. Ltd. GREENoneTEC Solarindustrie GmbH Heliodyne Inc. HTP Comfort Solutions LLC (Ariston Thermo USA LLC) Solimpeks Sun earth Sunerg Solar S.R.L Sun Maxx Solar L.L.C. Sunrain TVP Solar
Key Market Segmentation:
Our report has categorized the market based on region, product and application.
Breakup by Product:
Concentrating Non-Concentrating Unglazed Water Collectors
Breakup by Application:
Commercial Residential Industrial
Breakup by Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Key highlights of the report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategyand market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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