Global Non-concentrating Solar Collector Market Size To Exceed USD 48.23 Billion By 2033 | CAGR of 13.55%
Category: Energy & PowerGlobal Non-concentrating Solar Collector Market Size To Exceed USD 48.23 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Non-concentrating Solar Collector Market Size Expected to Grow from USD 13.54 Billion in 2023 to 48.23 Billion by 2033, at a CAGR of 13.55% during the forecast period 2023-2033.
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Browse key industry insights spread across 199 pages with 110 Market data tables and figures & charts from the report on the "Global Non-concentrating Solar Collector Market Size, Share, and COVID-19 Impact Analysis, By Absorber Plates (Copper, Aluminum, Steel Plates), By Application (Residential, Commercial, and Industrial), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/non-concentrating-solar-collector-market
Non-concentrating solar collectors are flat plates designed to gather solar energy. They are most typically seen in commercial buildings, industrial zones, and residential complexes. Increased environmental concerns will drive demand for solar collectors. The solar energy collection plate area functions similarly to solar radiation absorption. The low-cost scalability and simplicity of the technology are propelling growth in the non-concentrating solar collector industry, enabling greater acceptance in both established and emerging nations. Non-concentrating collectors cost less to maintain and install than other solar technologies, making them appropriate for rural electrification and decentralized energy systems. However, non-concentrating solar collectors' lower efficiency in low-light conditions makes them less suitable in locations with less sun exposure. Furthermore, high initial installation costs and slower technological developments compared to concentrated solar systems may impede industry expansion.
The copper segment is expected to hold the largest share of the global non-concentrating solar collector market during the anticipation timeframe.
Based on absorber plates, the global non-concentrating solar collector market is categorized as copper, aluminium, and steel plates. Among these, the copper segment is expected to hold the largest share of the global non-concentrating solar collector market during the anticipation timeframe. Copper's excellent thermal conductivity and corrosion resistance increase energy absorption efficiency and durability. Copper has a longer lifecycle and requires less maintenance than alternatives such as aluminum and steel, making it ideal for long-term solar installations.
The commercial segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the application, the global non-concentrating solar collector market is categorized as residential, commercial, and industrial. Among these, the commercial segment is expected to grow at the fastest CAGR during the anticipation timeframe. Businesses are focusing on cutting operational costs by adopting renewable energy, which is driven by both economic incentives and corporate environmental goals. Furthermore, commercial buildings usually have extensive rooftop space, allowing for larger installations, which can result in significant energy savings.
Asia Pacific is projected to hold the largest share of the global non-concentrating solar collector market over the anticipation timeframe.
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Asia Pacific is projected to hold the largest share of the global non-concentrating solar collector market over the anticipation timeframe. The Asia Pacific region is predicted to dominate the global non-concentrating solar collector market as an outcome of fast industrialization and urbanization, which are increasing energy demand. Countries such as China and India are making significant investments in renewable energy infrastructure to meet their commitments to sustainable development.
Europe is expected to grow at the fastest CAGR growth of the global non-concentrating solar collector market during the anticipation timeframe. Robust regulatory frameworks, such as the European Green Deal, encourage investment in renewable energy. Energy efficiency rules encourage the use of solar technologies in buildings while rising governmental and private investment backs solar thermal projects.
Major vendors in the global non-concentrating solar collector market are Greenonetec, Soletrol, Prosunpro, Bosch Thermotechnik, Viessmann, Solahart, Vaillant Group, Xne Group, Dimas, Solimpeks, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In April 2024, EnBW and Viessmann Deutschland GmbH, a subsidiary of Viessmann Climate Solutions, formed an association. The alliance assists homeowners by providing valuable information and expert guidance on choosing the best heat pump.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global non-concentrating solar collector market based on the below-mentioned segments:
Global Non-concentrating Solar Collector Market, By Absorber Plates
- Copper
- Aluminum
- Steel Plates
Global Non-concentrating Solar Collector Market, By Application
- Residential
- Commercial
- Industrial
Global Non-concentrating Solar Collector Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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