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Global Solar Thermal Market Size study & Forecast, by Application (Hot Water Systems, Solar Combi Systems, Swimming Pool Heating, Others) by End Use (Residential, Commercial, Industrial), by Collector Type (Evacuated Tube Collector, Flat Plate Collector, Unglazed Water Collector, Air Collector), by System (Thermosiphon Solar Heating System, Pumped Solar Heating System) and Regional Analysis, 2023-2030

July 2023 | 200 pages | ID: G380D2668E9CEN
Bizwit Research & Consulting LLP

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Global Solar Thermal Market is valued at approximately USD 22.60 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2023-2030. Solar thermal is a technology that harnesses the energy from sunlight to produce heat. It provides a clean and renewable source of energy, reducing reliance on fossil fuels and lowering greenhouse gas emissions. Solar thermal technology can be particularly useful in areas with abundant sunlight and high demand for heat. The Solar Thermal Market is expanding because of factors such as rising demand for electricity, rising demand and adoption of sustainable and efficient heating solutions and growing integration of low carbon power generation technologies.

Rising demand for electricity across the world is driving the market growth. As solar thermal are highly used in residential area to generate electricity as a renewable source. According to International European Agency, there has been a rise in electricity demand in the residential sector in the year 2018 the total electricity demand for the residential sector was 6 thousand TWh which increases to 7 thousand TWh in the year 2020 and it is expected to reach at 10 thousand Twh by year 2040. As a result, the rise in demand for electricity demand in the residential sector is leveraging the market growth. Furthermore, according to International European Agency, Worldwide, In 2020, there were 250 million homes with water heating provided by solar thermal technologies. Also, According to the Net Zero Emissions by 2050 Scenario (NZE Scenario), 400 million residences will require the installation of 290 million additional solar thermal systems by the year 2030. This deployment objective takes into account the anticipated retirement of solar thermal systems in the 2020s. According to the IEA Solar Heating and Cooling (SHC) TCP, 120 million new solar thermal systems using developing technologies and 170 million new solar thermal systems using traditional technologies must be implemented by 2030.. In addition, rising government initiatives for the adoption of renewable energies and rising technological advancement in the industry is driving the market growth. However, the high cost of solar thermal Market stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Solar Thermal Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in 2022 owing to the rising government support in solar renewable energy projects, rising investment and adoption of renewable sources of renewable energies for electricity generation in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising residential and industrial sector, rising demand for green energies, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
Solareast Holdings Co. Ltd
Greenonetec Solarindustrie GmbH
BTE solar Co. Ltd
Linuo Ritter International Co. Ltd
Photon Energy Systems Limited
HTP Comfort Solutions LLC
Viessmann Manufacturing Company Inc.
Alternate Energy Technologies LLC
Aalborg CSP AS
Savosolar Oyj

Recent Developments in the Market:
In July 2021, a Concentrated Solar Thermal (CST) testing facility was created in Hyderabad. This facility allows solar thermal components including solar receiver tubes, heat transfer fluids, and concentrating mirrors to be put to the test.
Global Solar Thermal Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Application, End Use, Collector Type, System, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Hot Water Systems
Solar Combi Systems
Swimming Pool Heating
Others


By End Use:
Residential
Commercial
Industrial

By Collector Type:
Evacuated Tube Collector
Flat Plate Collector
Unglazed Water Collector
Air Collector

By System:
Thermosiphon Solar Heating System
Pumped Solar Heating System

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Solar Thermal Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Solar Thermal Market, by Application, 2020-2030 (USD Billion)
  1.2.3. Solar Thermal Market, by End Use, 2020-2030 (USD Billion)
  1.2.4. Solar Thermal Market, by Collector Type, 2020-2030 (USD Billion)
  1.2.5. Solar Thermal Market, by System, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL SOLAR THERMAL MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL SOLAR THERMAL MARKET DYNAMICS

3.1. Solar Thermal Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Rising demand for electricity
    3.1.1.2. Rising demand and adoption of sustainable and efficient heating solutions.
    3.1.1.3. The growing integration of low carbon power generation technologies
  3.1.2. Market Challenges
    3.1.2.1. High Cost of Solar Thermal
  3.1.3. Market Opportunities
    3.1.3.1. Rising adoption of renewable energies
    3.1.3.2. Rising technological advancement

CHAPTER 4. GLOBAL SOLAR THERMAL 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
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL SOLAR THERMAL MARKET, BY APPLICATION

5.1. Market Snapshot
5.2. Global Solar Thermal Market by Application, Performance - Potential Analysis
5.3. Global Solar Thermal Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
5.4. Solar Thermal Market, Sub Segment Analysis
  5.4.1. Hot Water Systems
  5.4.2. Solar Combi Systems
  5.4.3. Swimming Pool Heating
  5.4.4. Others

CHAPTER 6. GLOBAL SOLAR THERMAL MARKET, BY END USE

6.1. Market Snapshot
6.2. Global Solar Thermal Market by End Use, Performance - Potential Analysis
6.3. Global Solar Thermal Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
6.4. Solar Thermal Market, Sub Segment Analysis
  6.4.1. Residential
  6.4.2. Commercial, Industrial

CHAPTER 7. GLOBAL SOLAR THERMAL MARKET, BY COLLECTOR TYPE

7.1. Market Snapshot
7.2. Global Solar Thermal Market by Collector Type, Performance - Potential Analysis
7.3. Global Solar Thermal Market Estimates & Forecasts by Collector Type 2020-2030 (USD Billion)
7.4. Solar Thermal Market, Sub Segment Analysis
  7.4.1. Evacuated Tube Collector
  7.4.2. Flat Plate Collector
  7.4.3. Unglazed Water Collector
  7.4.4. Air Collector

CHAPTER 8. GLOBAL SOLAR THERMAL MARKET, BY SYSTEM

8.1. Market Snapshot
8.2. Global Solar Thermal Market by System, Performance - Potential Analysis
8.3. Global Solar Thermal Market Estimates & Forecasts by System 2020-2030 (USD Billion)
8.4. Solar Thermal Market, Sub Segment Analysis
  8.4.1. Thermosiphon Solar Heating System
  8.4.2. Pumped Solar Heating System

CHAPTER 9. GLOBAL SOLAR THERMAL MARKET, REGIONAL ANALYSIS

9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Solar Thermal Market, Regional Market Snapshot
9.4. North America Solar Thermal Market
  9.4.1. U.S. Solar Thermal Market
    9.4.1.1. Application breakdown estimates & forecasts, 2020-2030
    9.4.1.2. End Use breakdown estimates & forecasts, 2020-2030
    9.4.1.3. Collector Type breakdown estimates & forecasts, 2020-2030
    9.4.1.4. System breakdown estimates & forecasts, 2020-2030
  9.4.2. Canada Solar Thermal Market
9.5. Europe Solar Thermal Market Snapshot
  9.5.1. U.K. Solar Thermal Market
  9.5.2. Germany Solar Thermal Market
  9.5.3. France Solar Thermal Market
  9.5.4. Spain Solar Thermal Market
  9.5.5. Italy Solar Thermal Market
  9.5.6. Rest of Europe Solar Thermal Market
9.6. Asia-Pacific Solar Thermal Market Snapshot
  9.6.1. China Solar Thermal Market
  9.6.2. India Solar Thermal Market
  9.6.3. Japan Solar Thermal Market
  9.6.4. Australia Solar Thermal Market
  9.6.5. South Korea Solar Thermal Market
  9.6.6. Rest of Asia Pacific Solar Thermal Market
9.7. Latin America Solar Thermal Market Snapshot
  9.7.1. Brazil Solar Thermal Market
  9.7.2. Mexico Solar Thermal Market
9.8. Middle East & Africa Solar Thermal Market
  9.8.1. Saudi Arabia Solar Thermal Market
  9.8.2. South Africa Solar Thermal Market
  9.8.3. Rest of Middle East & Africa Solar Thermal Market

CHAPTER 10. COMPETITIVE INTELLIGENCE

10.1. Key Company SWOT Analysis
  10.1.1. Company
  10.1.2. Company
  10.1.3. Company
10.2. Top Market Strategies
10.3. Company Profiles
  10.3.1. Solareast Holdings Co. Ltd
    10.3.1.1. Key Information
    10.3.1.2. Overview
    10.3.1.3. Financial (Subject to Data Availability)
    10.3.1.4. Product Summary
    10.3.1.5. Recent Developments
  10.3.2. Greenonetec Solarindustrie GmbH
  10.3.3. BTE solar Co. Ltd
  10.3.4. Linuo Ritter International Co. Ltd
  10.3.5. Photon Energy Systems Limited
  10.3.6. HTP Comfort Solutions LLC
  10.3.7. Viessmann Manufacturing Company Inc.
  10.3.8. Alternate Energy Technologies LLC
  10.3.9. Aalborg CSP AS
  10.3.10. Savosolar Oyj

CHAPTER 11. RESEARCH PROCESS

11.1. Research Process
  11.1.1. Data Mining
  11.1.2. Analysis
  11.1.3. Market Estimation
  11.1.4. Validation
  11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Solar Thermal Market, report scope
TABLE 2. Global Solar Thermal Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Solar Thermal Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 4. Global Solar Thermal Market estimates & forecasts by End Use 2020-2030 (USD Billion)
TABLE 5. Global Solar Thermal Market estimates & forecasts by Collector Type 2020-2030 (USD Billion)
TABLE 6. Global Solar Thermal Market estimates & forecasts by System 2020-2030 (USD Billion)
TABLE 7. Global Solar Thermal Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Solar Thermal Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Solar Thermal Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Solar Thermal Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Solar Thermal Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Solar Thermal Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Solar Thermal Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Solar Thermal Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Solar Thermal Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. Global Solar Thermal Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 18. U.S. Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. U.S. Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 21. Canada Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. Canada Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 24. UK Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. UK Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 27. Germany Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. Germany Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 30. France Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. France Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 33. Italy Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Italy Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 36. Spain Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. Spain Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 39. RoE Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. RoE Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 42. China Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. China Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 45. India Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. India Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 48. Japan Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. Japan Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 51. South Korea Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. South Korea Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 54. Australia Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. Australia Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 57. RoAPAC Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. RoAPAC Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 60. Brazil Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Brazil Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 63. Mexico Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. Mexico Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 66. RoLA Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. RoLA Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. Saudi Arabia Solar Thermal Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 69. South Africa Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. RoMEA Solar Thermal Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 71. List of secondary sources, used in the study of global Solar Thermal Market
TABLE 72. List of primary sources, used in the study of global Solar Thermal Market
TABLE 73. Years considered for the study
TABLE 74. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Solar Thermal Market, research methodology
FIG 2. Global Solar Thermal Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Solar Thermal Market, key trends 2022
FIG 5. Global Solar Thermal Market, growth prospects 2023-2030
FIG 6. Global Solar Thermal Market, porters 5 force model
FIG 7. Global Solar Thermal Market, pest analysis
FIG 8. Global Solar Thermal Market, value chain analysis
FIG 9. Global Solar Thermal Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Solar Thermal Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Solar Thermal Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Solar Thermal Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Solar Thermal Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Solar Thermal Market, regional snapshot 2020 & 2030
FIG 15. North America Solar Thermal Market 2020 & 2030 (USD Billion)
FIG 16. Europe Solar Thermal Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Solar Thermal Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Solar Thermal Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Solar Thermal Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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