Solar Thermal Collectors Market: By Product (Concentrating, Non-Concentrating (Flat Plate, Unglazed Water Collectors, Air Collectors, Evacuated Tube, and Others) By Application (Commercial, Residential, and Industrial), and Geography                   

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Solar Thermal Collectors Market size was valued at USD 26.982.1 million in 2023 and is poised to grow at a CAGR of 8.4% during 2024-2030. The dominant region is Asia Pacific holds the largest market share. The growth of the driven the rising energy cost as the cost of traditional energy sources continues to rise, solar thermal becomes a more attractive option for businesses and homeowners looking to reduce their energy bills, and many governments around the world are offering incentives, such as tax credits and grants, to encourage the adoption of solar thermal energy, increasing environmental concerns as people become more aware of the environmental impact of traditional energy sources, they are increasingly turning to renewable energy sources such as solar thermal. Technological advancements in solar thermal collectors are becoming more efficient and affordable, making them a more viable option for a wider range of applications.

However, the constraints of solar thermal collectors hinder the growth of the market due to the high upfront cost, and limited storage capacity, and are only effective in areas with a lot of sunshine and are also being addressed by technological advancements. With a focus on efficiency, cost reduction, and aesthetics, solar thermal collectors are becoming a more viable option for a wider range of applications. There is a significant opportunity for growth in developing markets, where there is a large demand for clean and affordable energy with several new applications for solar thermal energy emerging, such as desalination and industrial process heat, and there is a growing demand for solar thermal systems for off-grid applications, such as remote homes and businesses.

Solar Thermal Collectors Market Recent Key Developments:
  • May 2022: Solvay partners with Inaventa Solar for more efficient solar collector designs. The product exchanges metal with Solvay's Ryton PPS1, which offers numerous advantages, including improved design flexibility, automated manufacturing, streamlined handling, improved aesthetic facility integration, and a less carbon footprint.
  • AUG 2022: Savosolar Oyj has signed a conditional share exchange agreement with VG-Shipping Oy to acquire marine logistics company Meriaura Oy to merge with a share exchange

Solar Thermal Collectors Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.4%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Solar Thermal Collectors Market Dynamics

Solar thermal energy systems capture heat from the sun and convert it into usable thermal energy. This thermal energy can be used for a variety of applications, including heating water, space heating, and pool heating. Solar thermal systems can be integrated with other renewable energy sources to create a more reliable and efficient energy supply, such as solar photovoltaic (PV) and biomass. Solar thermal systems can be used to preheat water for solar PV systems. This can improve the efficiency of the PV system by reducing the amount of energy required to heat the water. Solar thermal systems can be integrated with biomass boilers to provide heat when there is not enough sunshine. Biomass boilers burn organic matter, such as wood chips or pellets, to produce heat. Solar thermal systems can be integrated with geothermal heat pumps to provide heat and cooling. Geothermal heat pumps use the earth's constant temperature to heat and cool buildings. By integrating renewable energy sources, you can reduce your reliance on fossil fuels, such as natural gas and oil. This can help to reduce greenhouse gas emissions and improve air quality.

Solar Thermal Collectors Market Segmentation

By Product
  • Concentrating,
  • Non-Concentrating
  • Flat Plate
  • Unglazed Water Collectors
  • Air Collectors
  • Evacuated Tube
  • Others
By Application
  • Commercial
  • Residential
  • Industrial
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

The solar thermal collectors market was valued at USD 26.982.1 million in 2023 and is projected to grow at a CAGR of 8.4%.

• Government regulations and incentives • Increase in energy prices • Technological advancements in solar thermal collectors • Solar thermal systems can be integrated with other renewable energy source

• Focus on efficiency • Cost reduction • Increased focus on aesthetics • Growth of the off-grid market

Solar Millennium AG, TVP Solar, Alternate Energy Technologies, Sun Master Energiesysteme GmbH, Solar Skies Mfg. LLC, SunMaxx Solar, Apricus Solar Co. Ltd, GreenoneTec, Heliodyne, Inc, HTP, Ouraset Solar, Solimpeks, Sunearth, Sunerg Solar S.R.L, TIGI, Apricus Solar Co. Ltd, Sunearth,, Airlight Energy, Efficax Energy, Trevi Systems, Boen Solar Energy, and Artic Solar.

Market research is segmented based on the product, application, and region.

Asia-Pacific is the dominant in the solar thermal collectors market

Key Features of the Reports

  • The solar thermal collectors market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.
1. Executive Summary
2. Global Solar Thermal Collectors Market Introduction
2.1. Global Solar Thermal Collectors Market Taxonomy
2.2. Global Solar Thermal Collectors Market Definitions
2.2.1. Product
2.2.2. Application
3. Global Solar Thermal Collectors Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Solar Thermal Collectors Market Dynamic Factors - Impact Analysis
3.6. Global Solar Thermal Collectors Market Competition Landscape
4. Global Solar Thermal Collectors Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Solar Thermal Collectors Market Forecast, By Product, 2019 - 2023 and Forecast, 2024 - 2030
5.1. Concentrating
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Non-Concentrating
5.2.1. Flat Plate
5.2.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.1.3. Market Opportunity Analysis
5.2.2. Unglazed Water Collectors
5.2.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.2.3. Market Opportunity Analysis
5.2.3. Air Collectors
5.2.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3.3. Market Opportunity Analysis
5.2.4. Evacuated Tube
5.2.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.4.3. Market Opportunity Analysis
5.3. Others
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Solar Thermal Collectors Market Forecast, By Application, 2019 - 2023 and Forecast, 2024 - 2030
6.1. Commercial
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Residential
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Solar Thermal Collectors Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
7.1. North America
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Europe
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Asia-Pacific
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Latin America
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Middle East and Africa
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Global Solar Thermal Collectors Market - Opportunity Analysis Index, By Product, By Application, and Region, 2024 - 2030
8. North America Solar Thermal Collectors Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
8.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
8.1.1. Concentrating
8.1.2. Non-Concentrating
8.1.2.1. Flat Plate
8.1.2.2. Unglazed Water Collectors
8.1.2.3. Air Collectors
8.1.2.4. Evacuated Tube
8.1.2.5. Others
8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
8.2.1. Commercial
8.2.2. Residential
8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
8.3.1. USA
8.3.2. Canada
8.4. North America Solar Thermal Collectors Market - Opportunity Analysis Index, By Product, By Application, and Country, 2024 - 2030
8.5. North America Solar Thermal Collectors Market Dynamics Trends
9. Europe Solar Thermal Collectors Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
9.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.1.1. Concentrating
9.1.2. Non-Concentrating
9.1.2.1. Flat Plate
9.1.2.2. Unglazed Water Collectors
9.1.2.3. Air Collectors
9.1.2.4. Evacuated Tube
9.1.2.5. Others
9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.2.1. Commercial
9.2.2. Residential
9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.3.1. Germany
9.3.2. UK
9.3.3. France
9.3.4. Spain
9.3.5. Italy
9.3.6. Russia
9.3.7. Poland
9.3.8. Rest of Europe
9.4. Europe Solar Thermal Collectors Market - Opportunity Analysis Index, By Product, By Application and Country, 2024 - 2030
9.5. Europe Solar Thermal Collectors Market Dynamics Trends
10. Asia-Pacific Solar Thermal Collectors Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
10.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.1.1. Concentrating
10.1.2. Non-Concentrating
10.1.2.1. Flat Plate
10.1.2.2. Unglazed Water Collectors
10.1.2.3. Air Collectors
10.1.2.4. Evacuated Tube
10.1.2.5. Others
10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Commercial
10.2.2. Residential
10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.3.1. Japan
10.3.2. China
10.3.3. India
10.3.4. ASEAN
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Asia-Pacific Solar Thermal Collectors Market - Opportunity Analysis Index, By Product, By Application and Country, 2024 - 2030
10.5. Asia-Pacific Solar Thermal Collectors Market Dynamics Trends
11. Latin America Solar Thermal Collectors Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
11.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.1.1. Concentrating
11.1.2. Non-Concentrating
11.1.2.1. Flat Plate
11.1.2.2. Unglazed Water Collectors
11.1.2.3. Air Collectors
11.1.2.4. Evacuated Tube
11.1.2.5. Others
11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Commercial
11.2.2. Residential
11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Argentina
11.3.4. Rest of Latin America
11.4. Latin America Solar Thermal Collectors Market - Opportunity Analysis Index, By Product, By Application and Country, 2024 - 2030
11.5. Latin America Solar Thermal Collectors Market Dynamics Trends
12. Middle East and Africa Solar Thermal Collectors Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
12.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.1.1. Concentrating
12.1.2. Non-Concentrating
12.1.2.1. Flat Plate
12.1.2.2. Unglazed Water Collectors
12.1.2.3. Air Collectors
12.1.2.4. Evacuated Tube
12.1.2.5. Others
12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Commercial
12.2.2. Residential
12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.3.1. Gulf Cooperation Council (GCC) Countries
12.3.2. Israel
12.3.3. South Africa
12.3.4. Rest of MEA
12.4. MEA Solar Thermal Collectors Market - Opportunity Analysis Index, By Product, By Application and Country, 2024 - 2030
12.5. MEA Solar Thermal Collectors Market Dynamics Trends
13. Competition Landscape 
13.1. Strategic Dashboard of Top Market Players
13.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
13.2.1. Solar Millennium AG
13.2.2. TVP Sola
13.2.3. Alternate Energy Technologies, LLC
13.2.4. Sun Master Energiesysteme GmbH
13.2.5. Solar Skies Mfg. LLC
13.2.6. SunMaxx Solar
13.2.7. Sunrise East Group
13.2.8. Jinheng Solar
13.2.9. Linuo Paradigma
13.2.10. Bosch Thermotechnik
13.2.11. Solimpeks
13.2.12. Thermosolar
13.2.13. Hewalex
13.2.14. Arcon-Sunmark
14. Research Methodology
15. Key Assumptions and Acronyms
  • Solar Millennium AG
  • TVP Sola
  • Alternate Energy Technologies, LLC
  • Sun Master Energiesysteme GmbH
  • Solar Skies Mfg. LLC
  • SunMaxx Solar
  • Sunrise East Group
  • Jinheng Solar
  • Linuo Paradigma
  • Bosch Thermotechnik
  • Solimpeks
  • Thermosolar
  • Hewalex
  • Arcon-Sunmark

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