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Solar Thermal Market to hit USD 30.92 Bn. by 2029 Industry Analysis, Market Share, Size, Trends, and Forecast to 2029

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Solar Thermal Market to hit USD 30.92 Bn. by 2029 Industry Analysis, Market Share, Size, Trends, and Forecast to 2029

December 15
20:52 2022
Solar Thermal Market to hit USD 30.92 Bn. by 2029 Industry Analysis, Market Share, Size, Trends, and Forecast to 2029
Solar Thermal Market
The Solar Thermal Market size was valued at USD 20.47 Billion in 2021 and is expected to grow by 5.29% from 2022 to 2029, reaching nearly USD 30.92 Billion.

Pune, 15, Dec, 2022: Maximize Market research, an Energy & Power business research firm has published a report on Solar Thermal Market The total market opportunity for Solar Thermal Market was USD 20.47 Bn. in 2021 and is expected to grow at 5.29% CAGR through forecast period, reaching nearly USD 30.92 Bn. In 2021, Asia Pacific dominated the global Solar Thermal Market.

Solar Thermal Market Scope and Research Methodology

The major driving factors, opportunities, challenges and restraints that affect the Solar Thermal Market have been focused in the study. The report contains key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, partnerships, growths, agreements, joint ventures and acquisitions. Including revenue data and market share information, global and regional players in the Solar Thermal industry are discussed in depth. The Solar Thermal market analysis includes trends, information about the potential market and needs, and lists of potential competitors. MMR has segmented the global Solar Thermal Market report based on Collector type, Application and Type of system. This makes the report a guide for investors, market leaders, followers and new entrants to get a clear understanding of the

Data was collected employing both primary and secondary research methods to get accurate inferences. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data which includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases was meticulously collected from a curated selection of sources for maximum reliability of the inferences. 

The bottom-up approach was used for market estimation. PESTLE was used to grasp the various factors affecting the market and SWOT analysis was used to analyse the strengths and weaknesses of key companies. Thus, the report provides a complete overview of the Solar Thermal Market. 

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @all 

Solar Thermal Market Overview

A variety of devices are powered by the heat that is created by the solar thermal systems by utilizing the sun’s rays. Solar-absorbing panels are consisted by them. Concentrated solar panels or photovoltaic panels are the panels that can be used. Concentrating solar panels produce more energy than photovoltaic panels so they are most popularly used in solar thermal systems. 

147.5 million tonnes of CO2 and 45.7 million tonnes of oil was saved by installing 522 GWth of solar thermal capacity in solar heating and cooling systems at the end of 2021.

Solar Thermal Market Dynamics

The rising private sector and government investments, development in solar energy’s technology and in building sector the access of solar thermal applications is driving the growth of Solar Thermal Market. 

International organizations have set many targets which are to be accomplished by the years 2030, 2040, and 2050. These goals are causing increase in the investments in solar businesses. These factors are expected to boost the market growth across the globe during the projected period. 

Solar Thermal Market Regional Insights

In 2021, Asia Pacific region dominated the market by holding the largest market share of the global Solar Thermal Market. This region’s recent population and urbanization growth is linked to the increasing demand. The Solar Thermal Market is locally and globally led by China for solar thermal power with the rising investments in it, which is expected to retain the market trend. 

During the forecast period, Europe is expected to grow at a significant growth rate. The major drivers of the Solar Thermal Market in the region are declining cost of technology and renewable energy goals set by the government. 

Solar Thermal Market Segmentation

by Collector Type

  • Evacuated Tube Collector
  • Flat Plate Collector
  • Unglazed Water Collector
  • Air Collector
  • Others

by Applications

  • Domestic Hot Water Systems
  • Large DHW Systems
  • Solar Combi Systems
  • Swimming Pool Heating
  • Others

by Type of System

  • Thermosiphon Solar
  • Heating Systems
  • Pumped Solar Heating System

Solar Thermal Market Key Competitors Include:

  • Siemens AG
  • Solareast Holdings Co. Ltd
  • Greenonetec Solarindustrie GmbH
  • BTE solar Co. Ltd
  • Linuo Ritter International Co. Ltd
  • Acciona
  • SolarReserve
  • Torresol Energy
  • Trivelli Energy
  • Sener
  • Lointek
  • Abors green GmbH
  • Liontek Photon Energy Systems Limited.
  • BrightSource Energy
  • Abengoa Solar

For Detail insights on this market, request for methodology here @ 

Key questions answered in the Solar Thermal Market are:

  • What is Solar Thermal Market?
  • What is the growth rate of Solar Thermal Market?
  • Who are the key players in the Solar Thermal Market?
  • Who are the market leaders in Solar Thermal Market industry in Europe?
  • Who are the market leaders in Solar Thermal Market industry in Asia Pacific?
  • What are the factors affecting growth in the Solar Thermal Market? 
  • Who held the largest market share in Solar Thermal Market? 
  • What are the factors for the growth of Asia-Pacific region in Solar Thermal Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Collector Type, Applications and Type of System
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading Energy & Power research firm, has also published the following reports:

Wave Energy Converter Market – The Global Wave Energy Converter Market is expected to reach USD 26.15 million by 2029 at a CAGR of 4.26 percent during the forecast period. The Wave Energy Converter Market is expected to be driven by rising demand for electricity across coastal countries and growing adoption of sustainable energy technologies.

Solar Battery Market – The Global Solar Battery Market is expected to reach USD 509.53 million by 2029 at a CAGR of 16 percent during the forecast period. The Solar Battery Market is expected to be driven by increasing focus on providing sustainable energy storage solutions.

Solar Energy Market – The Global Solar Energy Market is expected to reach USD 419.52 billion by 2029 at a CAGR of 23.1 percent during the forecast period. The Solar Energy Market is expected to be driven by various policies launched by the governments regarding the development of renewable energy.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

[email protected]

 +91 96071 95908, +91 9607365656

Media Contact
Contact Person: Geeta Yevle
Email: Send Email
Address:3rd Floor, Navale IT Park, Phase 2, Pune Banglore Highway, Narhe,
City: Pune
State: Maharashtra
Country: India

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