Non- concentrating Solar Collector Overview
Non- concentrating Solar Collector Market will reach a CAGR of more than 12% during the forecast of 2020-2028.
Also known as flat plate collectors, the non-concentrating solar collectors are the solar collectors used in various establishments. Market Research Future (MRFR) has published and released a research report on the global non-concentrating solar collector market that foretells success for this market at 12% CAGR (Compound Annual Growth Rate) between 2016 and 2022.
Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include mergers and acquisitions, joint ventures, new product developments, research and developments (RD), and strategic alliances.
The major factors in helping the growth of the global non-concentrating solar collector market are increased environmental concerns and growing awareness about the depleting non-renewable energy resources. Once non-renewable sources of energy get depleted, the natural process that leads to their creation will take many millenniums to complete. The other factors aiding the market growth are growing investments in clean energy and negligible maintenance cost of these panels. The eco-friendly means of energy creation are getting investments due to various government initiatives around the world. However, the high cost of photovoltaic cells can create hurdles in the market growth.
The global non-concentrating solar collector market has been segmented on the basis of absorber plate, application, and lastly region. Based on the absorber plate, this market has been segmented into aluminum, copper, and steel. The application-based segmentation segments the market into residential applications, commercial applications, and industrial applications.
The regional segmentation of the global non-concentrating solar collector market segments the global market into regional markets known as North America, South America, Asia Pacific, Europe, and the Middle East Africa (MEA). North America is an important regional market. In this region, especially in the USA, the demand for the non-concentrating solar collector is very high due to growing awareness about environmental issues, and technological advancement (to harness solar energy). The USA, Canada, and Mexico are the most important country-specific markets in this region.
In South America, the significant country-specific markets are Argentina and Brazil, followed by the remaining countries of South America. Here, market growth is not as high as in North America, but it is steady. Technologically, South America is not as advanced as North America.
Europe is the largest regional market. In this region, the market is growing due to environmental concerns, government initiatives, and technological advancement that is second only to North America (to harness solar energy). The major regional markets in this region are France, Germany, Spain, and the UK, followed by the remaining countries of Europe.
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The Asia Pacific is a regional market that is expected to grow at a good pace during the forecast period due to steady technological advancement, government initiatives encouraging the use of solar energy, and major installments taking place in countries like China, India, and Japan. After these three important countries, the Asia Pacific market covers the remaining countries of the Asia Pacific region.
The MEA region has the least market share in the global market due to lack of awareness, lack of education, and lack of scientific knowledge. In this region, the key market players are Saudi Arabia, South Africa, Qatar, and UAE, followed by remaining countries of the MEA region.
The key players in the global non-concentrating solar collector market include Bosch Thermotechnik (Germany), Dimas SA (Greece), Greenonetec (Austria), Prosunpro (China), Solahart (Australia), Soletrol (Brazil), Solimpeks (Turkey), Vaillant Group (Germany), Viessmann (Germany), and XNE Group (China).