NEWARK, Del, June 22, 2023 (GLOBE NEWSWIRE) -- The non-concentrating solar collectors market is predicted to be worth US$ 13,024.38 million in 2023 and rise to US$ 44,212.14 million by 2033. Demand was initially expanding at a market CAGR of 8.3% between 2018 and 2022.
Substitutes don't provide a concern, as there are presently no direct alternatives in the non-concentrating solar collector industry. In emerging markets, new solar power projects are being introduced and developed quickly.
The non-concentrating solar collector's cost has decreased due to increased technical breakthroughs, making it more affordable for home consumers. The efficiency of solar power plants has also been considerably enhanced owing to technical developments, like the creation of sophisticated tracking systems.
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Pharmaceuticals, textiles and chemicals, automotive parts, and dairy food processing and beverages are a few of the industries that are increasingly using the industrial heat produced by smart city projects. The potential for solar-heating catalysis to achieve zero artificial energy usage is expected to be beneficial for the global economy.
Key Takeaways:
- The European region was the second-most prominent market, accounting for more than 20% of the market.
- The United States is expected to dominate the non-concentrating solar collector's sector. The market in the United States is anticipated to grow by more than 8% by 2033.
- The non-concentrating solar collectors market was significantly expanding, with a size of US$ 11,526 million in 2022.
- Asia Pacific is expected to be one of the promising developing areas in 2023, with a market share of 37.2%.
- Demand for non-concentrating solar collectors in India and China is expected to remain high due to emerging solar projects.
- During the forecast period, the copper plates are likely to hold a top spot in the market in terms of absorbent plates.
- Based on the application, the residential segment is expected to dominate the market by 2033.
- To deliver up to 5.4 GW of its thin-film solar PV modules to United Kingdom's Lightsource Bp and its 50% co-owner Bp plc for their projects in the United States, First Solar has inked framework agreements of multi-year orders.
- The Series 6 solar PV module from First Solar, Inc. is the first PV product in the world to be featured in the debut of the EPEAT Photovoltaic and Inverters product category, according to a 2020 announcement from the Green Electronics Council.
Adapting the Changing Competitive Landscape:
Non-concentrating solar collectors manufacturers who grab the chance to fund research, and welcome experimentation, are up for high-profit margins. Key players who focus on social and environmental effect priority stand out as real pioneers in this period of the dramatic energy transition.
These producers are advancing the industry and securing their roles as change agents by encouraging cooperation, information exchange, and technical advancements.
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Key Players are:
- Greenonetec
- Soletrol
- Prosunpro
- Bosch Thermotechnik
- Viessmann
- Solahart
- Vaillant Group
- XNE Group
- Dimas SA
Key Segmentation:
By Absorber Plates:
- Copper
- Aluminum
- Steel Plates
By Application:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Recent Developments:
- Solar module producer Waaree Energies announced in May 2022 that it has received clearance to purchase solar cell manufacturer Indosolar. This acquisition aided Waaree Energies in increasing its capacity to produce solar cells from the currently anticipated 4 GW to 5.4 GW, and further supported the company's expansion objectives of producing solar modules.
- Canadian Solar invested in German off-grid solar pioneer Solarworx in 2021 as part of a strategic partnership. Recently, Bank Santander and Canadian Solar signed a 50 million euro bilateral business credit. As it implements and expands a project, including the building of a pipeline throughout Europe, the Middle East, and Africa, the facility aided Canadian Solar's Global Energy business.
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Table of Content (ToC):
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
View Complete TOC here: https://www.futuremarketinsights.com/toc/rep-gb-17331
Explore FMI’s Extensive Ongoing Coverage on the Oil and Gas Market:
On-Site Photovoltaic Solar Power For Data Centers Market Size: There is an expected CAGR of 6.8% for the on-site photovoltaic solar power for the data centers market through 2022 to 2032, based on a current value of US$ 23.62 Billion in 2022, which indicates an extremely high growth outlook.
Solar Pumps Market Share: The solar pumps market size is estimated to be valued at US$ 1.55 billion in 2023 and is expected to surpass US$ 4.64 billion by 2033.
Solar Tracker for Power Generation Market: The solar tracker for the power generation market is likely to capture a valuation of US$ 7.2 billion in 2023 and is predicted to reach US$ 14.5 billion by 2033. The market is registering a CAGR of 7.2% during the forecast period.
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Solar District Heating Market Forecast: The solar district heating market is anticipated to expand its roots at an average CAGR of 6.6% during the forecast period.
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Power Transmission Lines and Towers Market Sales: The power transmission lines and towers market is estimated to secure a CAGR of 7.8% during the forecast period. The market is likely to register a valuation of US$ 30 billion in 2023 and reach US$ 63.6 billion by 2033.
Battery Leasing Service Market Values: The global battery leasing service market size is slated to gain significant growth during the forecast period from 2023 to 2033
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