The global non-concentrating solar collectors market is anticipated to generate revenues of US$ 13,024.38 million in 2023. Demand for non-concentrating solar collectors is anticipated to expand at a CAGR of 13% and reach US$ 44,212.14 million by 2033.
Modern Technology Leads the Success Path of the Non-concentrating Solar Collectors Manufacturers
Cost Constraint Become a Roadblock for the Future Growth
Attributes | Details |
---|---|
Non-concentrating Solar Collector Market CAGR (2023 to 2033) | 13% |
Non-concentrating Solar Collector Market Size (2023) | US$ 13,024.38 million |
Non-concentrating Solar Collector Market Size (2033) | US$ 44,212.14 million |
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Demand Analysis from 2018 to 2022
From 2018 to 2022, the industry had a CAGR of 8.3%, which is expected to develop at a 13% CAGR during the forecast period. The market's value increased, going from US$ 7,069.11 million in 2018 to US$ 11,526 million in 2022 as it expanded.
Governmental incentives have the potential to significantly boost the market. For instance, Danish gas transmission system operator Evida decided to remove the expenses associated with residential grid disconnection in March 2021. They prefer to heat with renewable energy over gas provided via the grid. Solar energy demand raised the adoption of solar thermal in recent years. For instance, the European market began to expand again in 2021 after COVID-19.
According to preliminary projections, there was an installation level of up to 2,146,901 square meters or an 8.0% increase from 2020. This led to the global market expansion during this period.
Future Market Scope (2023 to 2033)
The non-concentrating solar collectors installation is likely to increase globally as solar energy becomes an environmentally friendly renewable energy source. Systems for solar thermal power or electric generating gather and focus sunlight to produce the high-temperature heat needed to make electricity. The solar district heating system combined with seasonal storage is the market’s leading trend.
Between 2023 and 2033, this is likely to create an additional potential of US$ 31,187.76 million, with a growth rate of 3.39x in that time.
With a market share of 37.2%, Asia Pacific is anticipated to be one of the prospective development regions in 2023.
As a consequence of increased demand from planned and current solar power projects in the Asia Pacific, the non-concentrating solar collectors business is predicted to grow quickly. Additionally, the market is anticipated to benefit from alluring government programs and financing for clean renewable energy.
The non-concentrating solar collectors industry has been dominated by North America for the past few years. Over the projection period, non-concentrating solar collectors have been mostly used in the United States owing to their use in commercial facilities. This includes swimming pools and space heating in colder climates.
The United States market is projected to be driven by growing concerns about the sustainability of the environment and the dwindling supply of natural resources.
By 2033, the non-concentrating solar collector in the United States market is expected to expand by more than 8%, due to the federal government programs including financial aid, tax breaks, and net metering.
With more than 20% of the share, the European area was the second most dominant market. Solar district heating systems now account for the bulk of demand in European countries, where the non-concentrating solar collectors sector has seen significant growth. For instance,
Throughout the projection period, copper plates are anticipated to command the market. The most popular kind of non-concentrating solar collectors is the flat-plate solar collectors, which has several uses.
Due to its superior heat conductivity, durability, and corrosion resistance, copper is frequently used for absorber plates. Sunlight heat is effectively transferred to the working fluid or heat transfer medium. Copper is capable of tolerating heat cycling and is suitable for high-temperature applications.
Based on application, it is anticipated that the residential market is likely to expand rapidly due to the growing amount of district solar heating projects globally. They are crucial to reducing the industry's carbon footprint and meeting the growing demand for ecologically friendly means of delivering heating services. This includes space heating and domestic water heating.
Due to an increase in the number of power purchase agreements between electricity boards and private sector businesses, the industrial application segment has experienced considerable market growth. Also, the encouraging government policies in nations like India and a few international agreements involving the usage of renewable energy favor the segment demand.
Manufacturers of non-concentrating solar collectors are embracing strategic measures to promote their sustainable growth and spur innovation in the competitive industry. Due to the market's concentration and dominance by a few key players, this business is devoting a significant portion of its funding to large research and development projects. By doing so, they hope to maximize the use of this plentiful renewable resource and harness the full potential of solar radiation.
Non-concentrating solar collectors manufacturers are bravely stepping into unknown waters as they realize the enormous potential in developing nations and isolated regions. They are actively experimenting with cutting-edge technologies and specially designed strategies that
address the particular difficulties encountered in these areas.
Key players in the non-concentrating solar collectors industry play a critical role in elevating communities. They focus on enhancing living circumstances and promoting sustainable development by providing non-concentrating solar collectors technology to these underdeveloped areas.
These forward-thinking manufacturers are aware that significant impact, not just profit, is what drives sustainable growth. To provide accessible and dependable non-concentrating solar collectors to areas that have historically lacked stable energy sources, they are strategically coordinating their investments and efforts.
By adopting this inclusive philosophy, manufacturers are closing the energy gap, strengthening communities, and opening the door to a more sustainable and just future.
Recent Developments
Key players:
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The market is valued to hit US$ 44,212.14 million by 2033.
The market is forecast to register a CAGR of 13% through 2033.
The market is estimated to secure a valuation of US$ 13,024.38 million in 2023.
During 2018 to 2022, the market grew at a CAGR of 8.3%.
The Asia Pacific is set to have a market share of 37.2.
Copper plates are projected to take over the market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Absorber Plates 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Absorber Plates, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Absorber Plates, 2023 to 2033 5.3.1. Copper 5.3.2. Aluminum 5.3.3. Steel Plates 5.4. Y-o-Y Growth Trend Analysis By Absorber Plates, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Absorber Plates, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Residential 6.3.2. Commercial 6.3.3. Industrial 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Absorber Plates 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Absorber Plates 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Absorber Plates 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Absorber Plates 9.3.3. By Application 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. U.K. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Absorber Plates 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Absorber Plates 10.3.3. By Application 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Singapore 11.2.1.5. Thailand 11.2.1.6. Indonesia 11.2.1.7. Australia 11.2.1.8. New Zealand 11.2.1.9. Rest of Asia Pacific 11.2.2. By Absorber Plates 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Absorber Plates 11.3.3. By Application 11.4. Key Takeaways 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of MEA 12.2.2. By Absorber Plates 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Absorber Plates 12.3.3. By Application 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. U.S. 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2022 13.1.2.1. By Absorber Plates 13.1.2.2. By Application 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2022 13.2.2.1. By Absorber Plates 13.2.2.2. By Application 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2022 13.3.2.1. By Absorber Plates 13.3.2.2. By Application 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2022 13.4.2.1. By Absorber Plates 13.4.2.2. By Application 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2022 13.5.2.1. By Absorber Plates 13.5.2.2. By Application 13.6. U.K. 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2022 13.6.2.1. By Absorber Plates 13.6.2.2. By Application 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2022 13.7.2.1. By Absorber Plates 13.7.2.2. By Application 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2022 13.8.2.1. By Absorber Plates 13.8.2.2. By Application 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2022 13.9.2.1. By Absorber Plates 13.9.2.2. By Application 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2022 13.10.2.1. By Absorber Plates 13.10.2.2. By Application 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2022 13.11.2.1. By Absorber Plates 13.11.2.2. By Application 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2022 13.12.2.1. By Absorber Plates 13.12.2.2. By Application 13.13. Singapore 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2022 13.13.2.1. By Absorber Plates 13.13.2.2. By Application 13.14. Thailand 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2022 13.14.2.1. By Absorber Plates 13.14.2.2. By Application 13.15. Indonesia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2022 13.15.2.1. By Absorber Plates 13.15.2.2. By Application 13.16. Australia 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2022 13.16.2.1. By Absorber Plates 13.16.2.2. By Application 13.17. New Zealand 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2022 13.17.2.1. By Absorber Plates 13.17.2.2. By Application 13.18. GCC Countries 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2022 13.18.2.1. By Absorber Plates 13.18.2.2. By Application 13.19. South Africa 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2022 13.19.2.1. By Absorber Plates 13.19.2.2. By Application 13.20. Israel 13.20.1. Pricing Analysis 13.20.2. Market Share Analysis, 2022 13.20.2.1. By Absorber Plates 13.20.2.2. By Application 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Absorber Plates 14.3.3. By Application 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Greenonetec 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Bosch Thermotechnik 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. Prosunpro 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Solestrol 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. Solahart 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Viessmann 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. XNE Group 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Demas 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. Solimpeks 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Vaillant Group 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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