Solar Thermal Collectors Market Summary
As per Market Research Future Analysis, the Global Solar Thermal Collectors Market was valued at USD 23.9 billion in 2021 and is projected to grow from USD 25.84 billion in 2022 to USD 44.73 billion by 2030, with a CAGR of 8.15% during the forecast period. The demand for solar thermal collectors is driven by increasing applications in residential, commercial, and industrial sectors, alongside growing awareness of renewable energy. The non-concentrating segment dominated the market in 2021, accounting for approximately 65-67% of revenue, while the residential segment is expected to grow the fastest due to rising solar district heating projects. The Asia-Pacific region leads the market, with significant contributions from China and India.
Key Market Trends & Highlights
Key trends driving the Solar Thermal Collectors market include technological advancements and increasing environmental awareness.
- Market Size in 2021: USD 23.9 billion.
- Projected Market Size by 2030: USD 44.73 billion.
- CAGR from 2022 to 2030: 8.15%.
- Non-Concentrating segment held ~65-67% market share in 2021.
Market Size & Forecast
2021 Market Size | USD 23.9 billion |
2022 Market Size | USD 25.84 billion |
2030 Market Size | USD 44.73 billion |
CAGR (2022-2030) | 8.15% |
Major Players
Key players include Savosolar, Alternate Energy Technologies LLC, TVP Solar, Ouraset, SunEarth, GREENONETEC SOLARINDUSTRIE GMBH, Absolicon Solar Collector AB, Sunerg Solar s.r.l., Solimpeks, Heliodyne Inc., and HTP Comfort Solutions LLC.