Global Non-concentrating Solar Collector Market Insights Forecasts to 2033

• The Global Non-concentrating Solar Collector Market Size was Valued at USD 13.54 Billion in 2023
• The Market Size is Growing at a CAGR of 13.55% from 2023 to 2033
• The Worldwide Non-concentrating Solar Collector Market Size is Expected to Reach USD 48.23 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Non-concentrating Solar Collector Market Size is Anticipated to Exceed USD 48.23 Billion by 2033, Growing at a CAGR of 13.55% from 2023 to 2033. Non-concentrating solar collectors are growing due to government incentives and subsidies. In the United States, the 26% Investment Tax Credit (ITC) encourages adoption, whereas the EU's Renewable Energy Directive and member-state incentives aim for a 32% renewable energy share. In India, the MNRE provides 30% subsidies, driving market growth as countries strive for sustainability and renewable energy targets.

Market Overview

Non-concentrating solar collectors are flat plates that are used to collect solar energy. They are most commonly seen in commercial buildings, industrial areas, and residential complexes. Increased environmental concerns will fuel market growth for solar collectors. The solar energy collection plate area performs similarly to solar radiation absorption. It is predicted that the flat plate collector will have generated approximately 500GW. As such, the market for non-concentrating solar collectors is booming the fastest. Also, non-concentrating solar collectors are becoming more and more popular as they are a good choice for early adopters of solar technology. This is due to their lower cost than concentrated solar collectors, solar panels, and solar fuel cells. Furthermore, the non-concentrating solar collector industry is expanding globally, due to strong import-export activities. China is the world's leading exporter due to its manufacturing capabilities, supplying nations such as Europe, Africa, and South America. Meanwhile, India and Brazil are major importers, driven by increased renewable energy demand and government subsidies. Exports from the United States, particularly to Europe, also help to drive market expansion, owing to advanced solar technology and the rising global use of sustainable energy solutions. However, market awareness, competition from sophisticated solar technologies, regulatory difficulties, initial investment costs, and efficiency constraints due to unpredictable weather are all major obstacles to market growth.

Report Coverage

This research report categorizes the global non-concentrating solar collector market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global non-concentrating solar collector market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global non-concentrating solar collector market.

Driving Factors

The low-cost scalability and simplicity of the technology are driving growth in the non-concentrating solar collectors market, allowing for wider adoption in both developed and emerging economies. Non-concentrating collectors have lower maintenance and installation costs than other solar technologies, making them suitable for rural electrification and decentralized energy systems. This market's versatility in many climates and use cases, ranging from domestic heating to industrial applications, gives it a competitive advantage in extending global energy access. Additionally, policies such as China's "Top Runner Program" and India's solar irrigation projects promote growth by incentivizing solar technologies. Furthermore, programs in Europe, such as the Green Deal, advocate for the decarbonization of energy sources these factors are attributed to the growth of global non-concentrating solar collector market.

Restraining Factors

The reduced efficiency of non-concentrating solar collectors in low-light settings makes them less appealing in areas with less solar exposure. Furthermore, high initial installation costs and slower technology improvements compared to concentrated solar systems could hamper market expansion, particularly in areas with minimal government backing.  

Market Segmentation

The global non-concentrating solar collector market share is classified into absorber plates and application.

• The copper segment is expected to hold the largest share of the global non-concentrating solar collector market during the forecast period.                  

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 forecast period. Copper hashigh thermal conductivity and corrosion resistance improving energy absorption efficiency and durability. Copper has a longer lifecycle and requires less maintenance than alternatives such as aluminium and steel, making it excellent for long-term solar installations. Moreover, copper's exceptional capacity to retain heat even in changing weather conditions provides it with a competitive edge in markets that require dependable and efficient solar thermal systems.

• The commercial segment is expected to grow at the fastest CAGR during the forecast period.      

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 forecast period. Businesses are focusing on lowering operational costs by embracing renewable energy, which is motivated by both economic incentives and corporate sustainability goals. Furthermore, commercial buildings frequently have ample rooftop space, allowing for larger installations that may end in significant energy savings. This trend is especially significant in areas where government requirements encourage the use of green energy, making a compelling case for commercial solar collectors.

Regional Segment Analysis of the Global Non-concentrating Solar Collector Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is projected to hold the largest share of the global non-concentrating solar collector market over the forecast period.

Asia Pacific is projected to hold the largest share of the global non-concentrating solar collector market over the forecast period. Rapid industrialization and urbanization, which increases energy consumption countries such as China and India invest largely investing in renewable energy, in line with their commitment to sustainable development. For instance, rural-focused projects, particularly in Bangladesh and Vietnam, drive demand for low-cost solar solutions, opening up new opportunities for informal collectors government policies and economic incentives encourage the use of solar energy. With increased sunshine and increased focus on energy independence, Asia Pacific offers unique market expansion opportunities, making it an attractive location for investment and innovation in solar technology.

Europe is expected to grow at the fastest CAGR growth of the global Non-concentrating Solar Collector market during the forecast period. Robust regulatory frameworks, such as the European Green Deal, are pushing investments in renewable energy. Energy efficiency standards boost the use of solar technologies in buildings, while increased public and private investment supports solar thermal projects. Furthermore, increased energy independence concerns and geopolitical tensions raise the appeal of solar solutions. Innovative financing mechanisms, such as green bonds, increase market penetration, establishing Europe as a leader in sustainable energy efforts.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global non-concentrating solar collector market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Greenonetec
• Soletrol
• Prosunpro
• Bosch Thermotechnik
• Viessmann
• Solahart
• Vaillant Group
• Xne Group
• Dimas
• Solimpeks
• Others

Key Market Developments

• In May 2024, Bosch Ventures strengthened its commitment to clean technologies with two battery recycling initiatives.

• In April 2024, EnBW and Viessmann Deutschland GmbH, a subsidiary of Viessmann Climate Solutions, formed an association. The alliance helps homeowners by giving useful information and expert advice on selecting the best heat pump.

• In August 2022, Savosolar Oyj signed a deal with VG-Shipping Oy to acquire marine shipping firm Meriaura Oy and integrate it with Savosolar.In January 2020, the European Parliament passed a resolution on the European Green Deal, identifying decarbonization of the energy sector as the most important objective for achieving greenhouse gas emissions neutrality by 2050.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

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