Non-Concentrating Solar Collector Market to Grow with a CAGR of 12.19% through 2029
Growing
environmental concerns & renewable energy adoption and declining costs &
technological advancements are likely to drive the market in the forecast
period.
According to
TechSci Research report, “Non-Concentrating Solar Collector Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the Global Non-Concentrating Solar Collector Market is experiencing a surge in
demand in the forecast period. The global non-concentrating solar collector market is being significantly propelled by the increasing focus on environmental sustainability and the worldwide shift towards renewable energy sources. This shift arises from mounting concerns regarding climate change and the environmental consequences of traditional energy generation methods. Consequently, governments, corporations, and individuals are actively seeking cleaner alternatives. Non-concentrating solar collectors, which harness solar energy without optical concentration, present a sustainable solution that reduces dependence on fossil fuels and minimizes carbon emissions. The rising demand for non-concentrating solar collectors is driven by a collective determination to address climate change and meet renewable energy goals. Governments worldwide are enacting policies and offering incentives to promote the adoption of solar technologies, aligning with global efforts to create a more sustainable energy landscape. Consequently, the non-concentrating solar collector market is witnessing significant growth as a crucial contributor to the global transition to cleaner and more environmentally friendly energy sources.
Another key factor influencing the global non-concentrating solar collector market is the ongoing technological advancements leading to reduced manufacturing and installation costs. Through years of research and development, innovations in materials, design, and manufacturing processes have enhanced the efficiency and performance of non-concentrating solar collectors. These technological strides have resulted in higher energy conversion rates, rendering non-concentrating solar collectors more attractive and economically feasible. The decreasing costs associated with these solar collectors are instrumental in driving their widespread adoption. Economies of scale and heightened competition in the solar technology sector have fostered a more cost-effective market for both residential and industrial consumers. Consequently, the financial barriers that previously impeded the mainstream adoption of non-concentrating solar collectors are diminishing, making them increasingly accessible and appealing to those seeking sustainable energy solutions. The convergence of technological progress and cost reductions positions non-concentrating solar collectors as a competitive and compelling option in the global renewable energy landscape.
Browse over XX Market
data Figures spread through XX Pages and an in-depth TOC on "Global Non-Concentrating Solar Collector Market.”
The Global Non-Concentrating
Solar Collector Market is segmented into absorber plates, application and
region.
Based on Application,
The Residential segment held the largest Market share in 2023. There is
increasing awareness among homeowners about the environmental impact of
conventional energy sources and the benefits of renewable energy. This
awareness has led to a rising demand for residential solar solutions, including
non-concentrating solar collectors. Many governments
around the world have implemented policies and incentives to encourage the
adoption of solar technologies in residential settings. Subsidies, tax credits,
and feed-in tariffs make residential solar installations more financially
attractive, driving widespread adoption. Advances in
technology, economies of scale, and increased competition in the solar industry
have led to a reduction in the cost of solar technologies. This cost reduction
has made non-concentrating solar collectors more affordable for residential
consumers, further boosting their popularity.
Non-concentrating
solar collectors are versatile and can be used for various residential
applications, such as water heating, space heating, and even small-scale
electricity generation. This versatility makes them suitable for meeting
diverse energy needs in households. Non-concentrating
solar collectors are relatively easy to install, especially compared to more
complex concentrating solar technologies. This ease of installation makes them
attractive for residential use, where homeowners may be looking for simple and
cost-effective solutions. Homeowners are
increasingly adopting eco-conscious behaviors and seeking sustainable solutions
for their homes. Non-concentrating solar collectors align with this trend,
allowing residents to reduce their carbon footprint and contribute to
environmental sustainability.
Residential
consumers are often motivated by the desire for energy independence and
resilience. Non-concentrating solar collectors enable homeowners to generate
their own clean energy, reducing dependence on traditional utility sources and
providing resilience during power outages. Advances in
design and aesthetics have made solar collectors more visually appealing,
facilitating their integration into residential structures. Building-integrated
solar solutions, such as solar roof tiles, contribute to the seamless
integration of solar technology into residential architecture.
Major companies
operating in the Global Non-Concentrating Solar Collector Market are:
- Soltec Power Holdings S.A.
- Viessmann Werke GmbH & Co. KG
- Bosch Thermotechnik GmbH
- GREENoneTEC Solarindustrie GmbH
- Vaillant GmbH
- Apricus Solar Co., Ltd.
- Phoenix Solar Thermal Inc
- SunMaxx Solar
- ABB Ltd
- Solimpeks
Download Free Sample Report
Customers can
also request for 10% free customization on this report.
“The Global Non-Concentrating Solar Collector Market is poised for substantial growth in the foreseeable future, projected to maintain a significant CAGR throughout the forecast period. These solar collectors present businesses with a cost-efficient method of harnessing solar power, thereby reducing operational costs while concurrently contributing to environmental sustainability objectives. The market's trajectory is further propelled by technological advancements and economies of scale, leading to a downward trend in costs associated with non-concentrating solar collectors. This cost reduction enhances their appeal as an investment option. As companies increasingly prioritize sustainability within their operations, the adoption of these solar solutions becomes integral to achieving renewable energy targets, bolstering corporate social responsibility efforts, and ensuring ongoing competitiveness within an evolving energy sector landscape. The Non-Concentrating Solar Collector Market is anticipated to experience significant expansion in the forthcoming years, driven by its economic viability and alignment with sustainable business practices.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Non-Concentrating
Solar Collector Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2019-2029 Segmented By Absorber Plates (Copper, Aluminum, and Steel
Plates), By Application (Residential, Commercial, and Industrial), By Region,
By Competition”, has evaluated the future growth potential of Global
Non-Concentrating Solar Collector Market and provides statistics &
information on Market size, structure and future Market growth. The report
intends to provide cutting-edge Market intelligence and help decision-makers make
sound investment decisions., The report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
Global Non-Concentrating Solar Collector Market.
Contact
Techsci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States-
10170
Tel: +13322586602
Email: [email protected]
Website: www.techsciresearch.com