Solar Thermal Collectors Market Size, Share, And Growth Report 2032

Solar Thermal Collectors Market: Size

The global Solar Thermal Collectors market size was worth around USD 26.89 billion in 2023 and is predicted to grow to around USD 61.12 billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.6% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Solar Thermal Collectors market on a global and regional level.

Request Free Sample

Solar Thermal Collectors Market: Overview

Solar thermal collector is designed for tapping thermal power that is offered free through solar rays. These products find extensive application in labs, households, commercial constructions, and research & development units. In addition to this, these products are also used in various industrial applications. Launching of cost-effective solar thermal collectors along with escalating awareness pertaining to sustainable energy trends has resulted into large-scale sale of solar thermal collectors in the near future.

Request Free Sample

Solar Thermal Collectors Market: Growth Factors

Large-scale awareness pertaining to the benefits of the product is one of the major factors steering the expansion of solar thermal collectors industry over the forecast timeline. With need for reducing use of non-renewable sources of energy such as coal & crude oil for power production and massive trend towards green environment has culminated into huge growth of solar thermal collectors industry over the forecast timeframe. Thriving construction activities and surge in the rate of power supply along with the growing popularity of solar thermal collectors in domestic sector is predicted to culminate into huge market demand over the forecasting years.

Furthermore, easy availability of solar energy is predicted to produce escalating growth of solar thermal collectors industry over the forthcoming years. Nonetheless, lack of sun rays in many countries along with fluctuating climatic conditions across the globe will hamper the expansion of solar thermal collectors industry over the anticipated timeframe.

Solar Thermal Collectors Market: Segmentation

The global solar thermal collector market is bifurcated on the basis of product, application, and regional analysis.

Based on the product, the market is divided into flat plate, concentrating, non-concentrating, unglazed water collectors, evacuated tube, and air collectors.

Based on the application, the market is divided into residential, commercial, and industrial.

Solar Thermal Collectors Market: Report Scope

Solar Thermal Collectors Market: Regional Analysis

North America To Make Lucrative Contributions Towards Overall Industry Size By 2032

The expansion of solar thermal collectors industry in North American sub-continent over the forecast timeline is due to massive product use in the swimming pool heating as a result of cold temperature. Growing awareness pertaining to natural resource depletion with massive population rise resulting in high energy demand will produce lucrative growth opportunities for regional market over the anticipated timeline.

Solar Thermal Collectors Market: Competitive Players

Key participants profiled in study are:

• Solar Millennium AG
• Alternate Energy Technologies LLC
• TVP Solar
• SunMaxx Solar
• Sun Master Energiesysteme GmbH
• Solar Skies Mfg. LLC.

The global solar thermal collectors market is segmented as follows:

By product:

• Flat Plate
• Concentrating
• Non-Concentrating
• Unglazed Water Collectors
• Evacuated Tube
• Air Collectors

By application:

• Residential
• Commercial
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa