Global Solar Thermal Collectors Market Size Study, by Type (Concentrating, Non-Concentrating), by Application (Commercial, Residential, Industrial), and Regional Forecasts 2022-2032

Description

The global solar thermal collectors market was valued at USD 28.6 billion in 2023 and is projected to grow with a healthy CAGR of 8.1% over the forecast period 2024-2032. Solar thermal collectors have emerged as pivotal components in harnessing renewable energy, addressing both environmental concerns and energy demands. These systems are increasingly adopted across residential, commercial, and industrial applications, driven by their capability to provide efficient and cost-effective heating solutions. Rising energy costs and the global push for sustainable energy solutions have catalyzed the adoption of solar thermal technologies.

Non-concentrating solar collectors dominate the market, holding a significant revenue share due to their ability to provide efficient heat retention, even in colder regions. On the other hand, concentrating collectors are witnessing rapid adoption in industrial applications, including power generation and desalination, due to their ability to focus solar energy for high-temperature applications. Furthermore, advancements in solar collector designs, including evacuated tube and flat-plate collectors, have significantly enhanced energy efficiency, enabling widespread adoption in varied climatic conditions.

The commercial sector accounted for the largest revenue share in 2023, driven by high demand for solar thermal systems in hotels, hospitals, and facilities requiring substantial volumes of hot water. Simultaneously, the industrial segment is anticipated to register the fastest growth over the forecast period, supported by increasing government incentives and technological advancements. Governments across regions are promoting the adoption of renewable energy systems through favorable policies, financial incentives, and regulatory support, further propelling the market growth.

Regionally, the Asia Pacific held the dominant share in 2023, underpinned by robust industrialization, urbanization, and supportive governmental initiatives in economies like China and India. North America and Europe are also key markets, driven by rising investments in renewable energy infrastructure, stringent environmental regulations, and advancements in solar thermal technologies. In particular, the U.S. and Germany are spearheading regional growth, supported by favorable tax credits and a strong focus on reducing carbon emissions.

Major market players included in this report are:

TVP Solar
Alternate Energy Technologies
SunEarth
GREENoneTEC Solarindustrie GmbH
Sunmaxx PVT GmbH
Absolicon Solar Collector AB
SUNERG SOLAR ENERGY S.R.L.
Solimpeks
Heliodyne
Others

The detailed segments and sub-segments of the market are explained below:

By Type:

Concentrating
Non-Concentrating

By Application:

Commercial
Residential
Industrial

By Region:

North America:

U.S.
Canada
Mexico

Europe:

UK
Germany
France
Italy
Spain
Russia

Asia Pacific:

China
India
Japan
Australia

Latin America:

Brazil
Argentina

Middle East & Africa:

South Africa
Saudi Arabia

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Solar Thermal Collectors Market Executive Summary

1.1. Global Solar Thermal Collectors Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Solar Thermal Collectors Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Solar Thermal Collectors Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Renewable Energy Solutions
- 3.1.2. Supportive Government Regulations and Incentives
- 3.1.3. Technological Advancements in Solar Thermal Technologies
3.2. Market Challenges
- 3.2.1. High Initial Investment Costs
- 3.2.2. Seasonal Variations in Solar Energy Output
3.3. Market Opportunities
- 3.3.1. Increasing Demand for Industrial Solar Heating Systems
- 3.3.2. Innovations in Solar Collector Technology

Chapter 4. Global Solar Thermal Collectors Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Solar Thermal Collectors Market Size & Forecasts by Type (2022-2032)

5.1. Segment Dashboard
5.2. Global Solar Thermal Collectors Market: Type Revenue Trend Analysis (2022 & 2032)
- 5.2.1. Concentrating
- 5.2.2. Non-Concentrating

Chapter 6. Global Solar Thermal Collectors Market Size & Forecasts by Application (2022-2032)

6.1. Segment Dashboard
6.2. Global Solar Thermal Collectors Market: Application Revenue Trend Analysis (2022 & 2032)
- 6.2.1. Commercial
- 6.2.2. Residential
- 6.2.3. Industrial

Chapter 7. Global Solar Thermal Collectors Market Size & Forecasts by Region (2022-2032)

7.1. North America Solar Thermal Collectors Market
- 7.1.1. U.S. Solar Thermal Collectors Market
  - 7.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 7.1.1.2. Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Solar Thermal Collectors Market
- 7.1.3. Mexico Solar Thermal Collectors Market
7.2. Europe Solar Thermal Collectors Market
- 7.2.1. UK Solar Thermal Collectors Market
- 7.2.2. Germany Solar Thermal Collectors Market
- 7.2.3. France Solar Thermal Collectors Market
- 7.2.4. Italy Solar Thermal Collectors Market
- 7.2.5. Spain Solar Thermal Collectors Market
- 7.2.6. Russia Solar Thermal Collectors Market
7.3. Asia Pacific Solar Thermal Collectors Market
- 7.3.1. China Solar Thermal Collectors Market
- 7.3.2. India Solar Thermal Collectors Market
- 7.3.3. Japan Solar Thermal Collectors Market
- 7.3.4. Australia Solar Thermal Collectors Market
7.4. Latin America Solar Thermal Collectors Market
- 7.4.1. Brazil Solar Thermal Collectors Market
- 7.4.2. Argentina Solar Thermal Collectors Market
7.5. Middle East & Africa Solar Thermal Collectors Market
- 7.5.1. South Africa Solar Thermal Collectors Market
- 7.5.2. Saudi Arabia Solar Thermal Collectors Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. TVP Solar
- 8.1.2. Alternate Energy Technologies
- 8.1.3. SunEarth
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. TVP Solar
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Alternate Energy Technologies
- 8.3.3. GREENoneTEC Solarindustrie GmbH
- 8.3.4. Absolicon Solar Collector AB
- 8.3.5. SUNERG SOLAR ENERGY S.R.L.
- 8.3.6. Sunmaxx PVT GmbH

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes