|
Forecast Period
|
2025-2029
|
|
Market Size
(2023)
|
USD 10.08 Billion
|
|
CAGR (2024-2029)
|
12.19%
|
|
Fastest Growing
Segment
|
Industrial
|
|
Largest Market
|
Asia-Pacific
|
Market Overview
Global Non-Concentrating
Solar Collector Market was valued at USD 10.08 billion in 2023 and is
anticipated to project robust growth in the forecast period with a CAGR of 12.19%
through 2029
The
non-concentrating solar collector market refers to the sector within the
renewable energy industry that focuses on the production, distribution, and
utilization of solar energy using collector technologies that do not employ
optical concentration methods. Unlike concentrating solar collectors that use
mirrors or lenses to focus sunlight onto a small area, non-concentrating solar
collectors capture sunlight across a larger surface without magnification.
These collectors, including flat-plate and evacuated tube collectors, absorb
solar radiation and convert it into thermal or electrical energy for various
applications, such as heating water, generating electricity, and supporting
space heating or cooling systems.
The
non-concentrating solar collector market plays a pivotal role in the global
shift towards sustainable energy solutions by harnessing the abundant and clean
power of the sun. Key drivers of this market include environmental concerns,
declining costs, government policies, energy security, technological
advancements, and integration into building designs. As the demand for
renewable energy intensifies, the non-concentrating solar collector market
continues to evolve, offering efficient and versatile solutions for both
residential and industrial energy needs.
Key Market Drivers
Growing Environmental
Concerns and Renewable Energy Adoption
In recent years,
the global non-concentrating solar collector market has experienced a
significant surge, primarily driven by the increasing awareness and concerns
regarding environmental sustainability. As the world grapples with the adverse
effects of climate change, there has been a heightened emphasis on
transitioning towards cleaner and more sustainable energy sources.
Non-concentrating solar collectors, with their ability to harness solar energy
without the need for complex tracking systems, have emerged as a key player in
the renewable energy landscape.
With governments
and international organizations committing to reducing carbon emissions, there
has been a notable push towards the adoption of renewable energy technologies.
Non-concentrating solar collectors contribute to this shift by providing an efficient
and cost-effective means of harnessing solar power for both residential and
industrial applications. The emphasis on reducing the carbon footprint and
mitigating the impact of conventional energy sources is a crucial driver
propelling the growth of the global non-concentrating solar collector market.
Declining Costs and Technological Advancements
The declining
costs of solar technologies, coupled with continuous advancements in the field,
have played a pivotal role in driving the global non-concentrating solar
collector market. Over the past decade, there has been a significant reduction
in the cost of manufacturing and installing solar collectors, making them more
accessible to a broader range of consumers. This cost reduction is attributed
to economies of scale, improvements in manufacturing processes, and increased
competition among solar technology providers.
Moreover,
ongoing research and development efforts have led to technological innovations,
enhancing the efficiency and performance of non-concentrating solar collectors.
These advancements include improvements in materials, design, and overall
system integration, resulting in higher energy conversion rates and increased
reliability. As the technology continues to mature, the cost-effectiveness and
efficiency of non-concentrating solar collectors are expected to further
improve, driving widespread adoption across various industries and
applications.
Government
Incentives and Policies
Government
initiatives and policies aimed at promoting renewable energy adoption have been
instrumental in propelling the global non-concentrating solar collector market.
Many countries have implemented a range of incentives, subsidies, and tax
credits to encourage businesses and individuals to invest in solar
technologies. These incentives not only make non-concentrating solar collectors
more financially attractive but also contribute to the overall growth of the
renewable energy sector.
Governments
worldwide are increasingly recognizing the role of solar energy in achieving
their sustainability goals and reducing dependence on fossil fuels. As a
result, they are implementing policies that mandate or incentivize the
integration of solar technologies in new constructions and existing
infrastructure. The alignment of government support with environmental goals
serves as a robust driver for the widespread adoption of non-concentrating
solar collectors on a global scale.
Energy Security
and Independence
The global quest
for energy security and independence has fueled the demand for
non-concentrating solar collectors. Countries around the world are seeking ways
to diversify their energy sources and reduce reliance on imported fossil fuels.
Non-concentrating solar collectors provide a decentralized and sustainable
solution, allowing nations to generate a significant portion of their energy
domestically, thereby enhancing energy security.
By harnessing
solar energy locally, countries can reduce vulnerability to geopolitical
uncertainties, price fluctuations in the global energy market, and supply chain
disruptions. Non-concentrating solar collectors, with their modular and
scalable nature, offer a flexible solution for meeting diverse energy needs,
from powering remote off-grid communities to supporting large-scale industrial
operations. The desire for energy independence acts as a strong driver pushing
the global non-concentrating solar collector market forward.
Technological
Integration in Building Design
The integration
of solar technologies into building design and construction has emerged as a
significant driver for the global non-concentrating solar collector market.
Architects, engineers, and developers are increasingly incorporating solar
collectors into the design of residential, commercial, and industrial
buildings. This integration not only aligns with sustainability goals but also
provides a practical and aesthetically pleasing solution for on-site energy
generation.
Non-concentrating
solar collectors can be seamlessly integrated into building elements such as
roofs, facades, and windows, allowing for a harmonious blend of functionality
and design. This trend is particularly evident in the construction of green
buildings and sustainable urban developments, where the emphasis is on reducing
the environmental impact and promoting energy efficiency. The architectural
integration of non-concentrating solar collectors represents a forward-thinking
approach that enhances the market's growth by expanding its application in the
construction industry.
Increasing
Energy Demand in Emerging Economies
The escalating
energy demand in emerging economies, coupled with a growing focus on
sustainable development, is a key driver propelling the global
non-concentrating solar collector market. As these economies experience rapid
industrialization and urbanization, there is a parallel increase in the demand
for electricity. Non-concentrating solar collectors offer a viable solution to
meet this rising energy demand while adhering to environmental sustainability
objectives.
In many emerging
economies, where access to traditional energy sources may be limited or
unreliable, non-concentrating solar collectors provide a decentralized and
off-grid energy solution. This is particularly relevant in remote areas where
extending the conventional power grid is economically unfeasible. The
versatility and adaptability of non-concentrating solar collectors make them
suitable for addressing the unique energy challenges faced by emerging
economies, contributing to the market's expansion in these regions.
The global non-concentrating solar collector market is being propelled by a
convergence of factors, including environmental concerns, declining costs,
government support, energy security aspirations, technological advancements,
and the integration of solar technologies into building design. These drivers
collectively contribute to the market's growth and signify a shift towards a
more sustainable and renewable energy future on a global scale.
Government Policies are Likely to
Propel the Market
Feed-in Tariffs and Renewable Energy
Obligations
Feed-in tariffs
(FiTs) and renewable energy obligations (REOs) are crucial government policies
that have significantly impacted the global non-concentrating solar collector
market. Feed-in tariffs are financial incentives provided by governments to
renewable energy producers, guaranteeing a fixed premium rate for the
electricity they generate. This encourages the adoption of non-concentrating
solar collectors by ensuring a reliable and attractive return on investment for
individuals and businesses investing in solar energy systems.
Renewable energy
obligations, on the other hand, are regulatory mechanisms that mandate a
certain percentage of electricity to be generated from renewable sources.
Governments set these obligations to promote a transition towards cleaner
energy options, including non-concentrating solar collectors. By implementing
these policies, governments worldwide aim to create a favorable market
environment, fostering growth and sustainability in the non-concentrating solar
collector sector.
Investment Tax
Credits and Subsidies
Governments play
a pivotal role in promoting the adoption of non-concentrating solar collectors
through investment tax credits and subsidies. These financial incentives are
designed to alleviate the upfront costs associated with purchasing and
installing solar energy systems. Investment tax credits allow individuals and
businesses to deduct a percentage of their solar system costs from their taxes,
making the technology more financially accessible.
Subsidies, on
the other hand, involve direct financial assistance provided by the government
to reduce the overall cost of non-concentrating solar collectors. These
policies are particularly effective in stimulating demand and driving market
growth by incentivizing consumers to invest in renewable energy solutions. The
implementation of investment tax credits and subsidies reflects a commitment to
creating a sustainable energy landscape and reducing the financial barriers to
entry for potential solar adopters.
Net Metering and
Grid Integration
Net metering
policies have played a crucial role in shaping the global non-concentrating
solar collector market. Net metering allows solar system owners to feed excess
electricity generated back into the grid, receiving credits or compensation for
the surplus energy produced. This encourages the adoption of non-concentrating
solar collectors by providing an additional economic incentive for individuals
and businesses to invest in solar energy systems.
Furthermore,
governments are implementing policies to facilitate the seamless integration of
solar-generated electricity into the existing power grid. This involves the
development of grid infrastructure capable of handling intermittent energy
sources like solar power. By promoting grid integration, governments aim to
enhance the reliability and stability of the power supply, encouraging greater
reliance on non-concentrating solar collectors and other renewable energy
sources.
Green Building
Standards and Codes
Governments
worldwide are increasingly recognizing the importance of incorporating green
building standards and codes to promote sustainability and energy efficiency.
These regulations play a pivotal role in driving the integration of
non-concentrating solar collectors into building designs. Green building
standards often include requirements or incentives for the installation of
renewable energy systems, such as solar collectors, to meet energy efficiency
and sustainability goals.
By incorporating
these policies, governments aim to influence the construction industry,
encouraging architects, developers, and builders to prioritize environmentally
friendly building practices. This, in turn, accelerates the adoption of
non-concentrating solar collectors as an integral component of energy-efficient
and sustainable building designs, fostering a more environmentally conscious
approach to urban development.
Research and
Development Grants for Solar Technologies
To stimulate
innovation and technological advancements in the non-concentrating solar
collector market, governments frequently implement research and development
(R&D) grants. These grants provide financial support to businesses,
research institutions, and entrepreneurs involved in the development of
cutting-edge solar technologies. By investing in R&D, governments aim to
enhance the efficiency, reliability, and cost-effectiveness of
non-concentrating solar collectors, making them more competitive and attractive
to consumers.
These policies
contribute not only to the growth of the non-concentrating solar collector
market but also to the broader advancement of renewable energy technologies.
Governments play a crucial role in fostering an environment conducive to
innovation, ensuring that non-concentrating solar collectors continue to evolve
and meet the changing needs of the energy landscape.
Public
Procurement and Renewable Energy Targets
Governments are
leveraging their purchasing power to drive the adoption of non-concentrating
solar collectors through public procurement policies. By incorporating
renewable energy requirements into public procurement processes, governments
set an example for businesses and individuals, promoting the integration of
solar technologies. This approach not only supports the growth of the
non-concentrating solar collector market but also aligns with broader renewable
energy targets.
Governments
often set ambitious renewable energy goals to transition towards cleaner and
more sustainable energy sources. These targets create a framework for policies
that incentivize the adoption of non-concentrating solar collectors,
contributing to the overall decarbonization of the energy sector. The
combination of public procurement policies and renewable energy targets sends a
strong signal to the market, encouraging widespread adoption and investment in
non-concentrating solar collector technologies.
Download Free Sample Report
Key Market Challenges
Intermittency and Energy Storage
One significant
challenge facing the global non-concentrating solar collector market is the
inherent intermittency of solar power generation. Unlike traditional power
sources, solar energy production is dependent on sunlight, which varies
throughout the day and is subject to weather conditions. This intermittency
poses challenges for maintaining a stable and reliable power supply, especially
during periods of low sunlight or at night.
Non-concentrating
solar collectors, while effective in converting sunlight into electricity,
cannot generate power when the sun is not shining. This variability creates a
mismatch between energy demand and supply, requiring complementary solutions to
ensure a continuous power supply. To address this challenge, the development
and integration of effective energy storage technologies become crucial.
Energy storage
solutions, such as advanced batteries and other storage systems, play a vital
role in mitigating the intermittency of solar power. These technologies allow
excess energy generated during sunny periods to be stored for later use,
providing a consistent power supply even when solar generation is low or
absent. However, the current state of energy storage technology faces
challenges related to cost, efficiency, and environmental impact. Striking the
right balance between cost-effectiveness, reliability, and sustainability
remains a formidable challenge for the global non-concentrating solar collector
market.
To overcome this
challenge, concerted efforts are required in research and development to
improve energy storage technologies, making them more efficient, affordable,
and environmentally friendly. Additionally, collaboration between governments,
industries, and research institutions is essential to create a supportive
regulatory environment and incentivize the deployment of advanced energy
storage solutions alongside non-concentrating solar collectors.
Land Use and
Aesthetics in Urban Environments
Another
significant challenge confronting the global non-concentrating solar collector
market is the concern related to land use and aesthetics, particularly in
densely populated urban areas. As the demand for renewable energy sources,
including non-concentrating solar collectors, continues to grow, finding
suitable locations for installation becomes increasingly challenging,
particularly in urban environments where available space is limited and highly
valued.
In urban areas,
there is often intense competition for land use, with various stakeholders
vying for space to accommodate housing, commercial developments, and
infrastructure. Integrating non-concentrating solar collectors into the urban
landscape requires thoughtful planning to strike a balance between renewable
energy generation and other land uses. Moreover, concerns about the visual
impact and aesthetics of solar installations may lead to resistance from
communities and policymakers, hindering the widespread adoption of solar
technologies.
One solution to
this challenge involves promoting the integration of solar collectors into
existing infrastructure, such as building-integrated photovoltaics (BIPV) or
solar panels incorporated into facades and windows. However, implementing these
solutions requires overcoming technical, regulatory, and economic hurdles.
Additionally, retrofitting existing structures to accommodate solar
technologies may not always be feasible or cost-effective.
To address the
land use and aesthetics challenge, a collaborative approach involving urban
planners, architects, policymakers, and the solar industry is essential. This
approach should prioritize the development of innovative and aesthetically
pleasing solar solutions that seamlessly integrate into urban environments.
Moreover, governments can play a crucial role by providing incentives,
regulatory frameworks, and public awareness campaigns to garner support for the
aesthetic integration of non-concentrating solar collectors in urban
landscapes. By addressing these challenges, the solar industry can enhance its
appeal in urban settings and contribute significantly to the global transition
towards sustainable and renewable energy sources.
Segmental Insights
Absorber
Plates Insights
The Copper segment held the
largest Market share in 2023. Copper possesses excellent thermal conductivity,
meaning it can efficiently absorb and transfer heat. In the context of solar
collectors, where the goal is to capture sunlight and convert it into heat,
copper's high thermal conductivity allows for rapid and effective absorption of
solar energy.
Copper is a durable and
corrosion-resistant material, ensuring a long lifespan for the solar collector
systems. The ability to withstand harsh environmental conditions, such as
exposure to sunlight, moisture, and temperature variations, is crucial for the
reliability and longevity of solar thermal systems.
Copper is compatible with
many heat-transfer fluids commonly used in solar thermal systems. The absorber
plate comes into direct contact with these fluids, and the compatibility
ensures a stable and efficient heat transfer process within the system.
Copper is a highly malleable
and ductile metal, making it easy to work with during the manufacturing
process. Its formability allows for the creation of intricate designs and
configurations, optimizing the absorber plate's efficiency in capturing solar radiation.
Copper is a recyclable
material, aligning with the growing emphasis on sustainability and
environmentally friendly practices. The recyclability of copper contributes to
the overall life cycle sustainability of solar collector systems.
Copper's performance is
noteworthy even under low light conditions. This is particularly important for
non-concentrating solar collectors that operate effectively across a range of
light intensities, making them suitable for various geographical locations and
weather conditions.
Application Insights
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.
Download Free Sample Report
Regional Insights
Asia Pacific held the largets market share in the Global Non-Concentrating Solar Collector Market in 2023.
Asia
Pacific is home to some of the world's fastest-growing economies, including
China, India, Japan, and South Korea. Rapid economic growth in the region
drives increasing energy demand, particularly for clean and sustainable energy
sources like solar power. As a result, there is a growing market for
non-concentrating solar collectors in Asia Pacific to meet the region's energy
needs.
Many countries in Asia Pacific have
implemented supportive policies and incentives to promote renewable energy
adoption, including solar thermal technologies. Governments provide financial
incentives, feed-in tariffs, subsidies, and tax breaks to encourage the
deployment of non-concentrating solar collectors for water heating, space
heating, and industrial process heat applications. These supportive policies
create a favorable market environment and drive the growth of the
non-concentrating solar collector market in Asia Pacific.
Asia
Pacific receives ample sunlight throughout the year due to its geographical
location and climatic conditions. The region's abundant solar resources make it
an ideal market for solar energy technologies, including non-concentrating
solar collectors. Countries in Asia Pacific with high solar irradiation levels,
such as India, Australia, and parts of Southeast Asia, offer favorable
conditions for solar thermal applications, driving market demand for
non-concentrating solar collectors.
Asia
Pacific has a large and rapidly growing population, accompanied by increasing
urbanization and industrialization. Urban areas in the region face rising
energy demand for water heating, space heating, and other residential and
commercial applications. Non-concentrating solar collectors provide a
cost-effective and environmentally friendly solution to meet the heating needs
of urban populations, driving market growth in Asia Pacific.
Asia
Pacific serves as a major manufacturing hub for solar energy equipment,
including non-concentrating solar collectors. The region benefits from lower
labor costs, advanced manufacturing capabilities, and well-established supply
chains for solar thermal products. Asian manufacturers produce a wide range of
non-concentrating solar collectors, catering to domestic and international
markets. The availability of locally manufactured solar collectors contributes
to Asia Pacific's dominance in the global market.
Asian
countries, particularly China, are investing heavily in research and
development to advance solar energy technologies, improve efficiency, and
reduce costs. Technological advancements in materials, manufacturing processes,
and system design enhance the performance and reliability of non-concentrating
solar collectors, making them more competitive in the market. Asia Pacific's
focus on innovation and technology development strengthens its position as a
dominant player in the global non-concentrating solar collector market.
Key Market Players
- Soltec Power Holdings S.A.
- Viessmann Werke GmbH & Co. KG
- Bosch Thermotechnik GmbH
- Greenonetec Group
- Soletrol Pty Ltd
- Prosunpro Holdings Ltd
- Phoenix Solar Thermal Inc
- SunMaxx Solar
- ABB Ltd
- Xünlei Group Co., Ltd
|
By Absorber
Plates
|
By Application
|
By Region
|
- Copper
- Aluminum,
- Steel Plates
|
- Residential
- Commercial
- Industrial
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East &
Africa
|
Report Scope:
In this report, the Global Non-Concentrating Solar
Collector Market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- Non-Concentrating
Solar Collector Market, By Absorber Plates:
o Copper
o Aluminum,
o Steel Plates
- Non-Concentrating
Solar Collector Market, By Application:
o Residential
o Commercial
o Industrial
- Non-Concentrating
Solar Collector Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Non-Concentrating Solar Collector Market.
Available Customizations:
Global Non-Concentrating Solar Collector Market report
with the given Market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed
analysis and profiling of additional Market players (up to five).
Global Non-Concentrating Solar Collector Market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]