The global solar thermal collectors market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for solar thermal collectors from residential, industrial, and commercial applications are expected to drive revenue growth of target market over the forecast period. Moreover, government initiatives to promote adoption of renewable energy resources is expected to fuel revenue growth of the market.
The global solar thermal collectors market report has been segmented on the basis of product, application, and region.
On the basis of product, the global solar thermal collectors market has been segmented into concentrating and non-concentrating (flat plate, evacuated tube, unglazed water collectors, and air collectors). The concentrating segment is expected to grow at a steady rate over the forecast period. Concentrating solar thermal collectors are used in solar thermal plants as they can produce high-temperature heat as compared to non-concentrating thermal collectors.
On the basis of application, the global target market has been segmented into residential, commercial, and industrial. The residential segment is expected to witness higher growth rate over the forecast period. Rising demand for cost-effective solutions for domestic applications such as swimming pools and other water heating applications is expected to support revenue growth of this segment over the forecast period.
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On the basis of region, the global solar thermal collectors market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is expected to grow at a moderate rate over the forecast period. Growing preference of individuals towards removable energy resources over conventional resources owing to increasing fuel prices is expected to drive revenue growth of Asia Pacific solar thermal collectors market.
Key players operating in the global solar thermal collectors market include Alternate Energy Technologies, LLC, SUNERG Solar s.r.l., SunMaxx Solar, Inc., SunEarth, Inc., TVP Solar SA, Solimpeks Solar Energy Corp., Heliodyne, Inc., GREENoneTEC Solarindustrie GmbH, Ouraset, and HTP Comfort Solutions LLC.