It is estimated that non- concentrating solar collecting systems will reach a CAGR of more than 12% during the forecast of 2022-2030. It is a type of flat plate designed for collecting solar energy.
Non-concentrating Solar Collector is a flat plate that is used to capture solar energy. Commercial buildings, industry, and residential complexes are the most common places to find them. Increased environmental concerns will help to drive market expansion for solar collectors. The solar energy collection plate area functions similarly to solar radiation absorption. It is expected that the flat plate collector will have produced roughly 500GW. As a result, the market for non-concentrating solar collectors is growing at the quickest rate.
Concerns about rising conventional energy prices, potential supply challenges, and renewable energy certificates have been raised. The demand for non-concentrating solar collector market share will be fueled by these factors. There have also been initiatives to develop technology to improve product efficiency. As a result, educational institutions and major market players are investing heavily in R&D. Environmental contamination has increased as a result of the increasing reliance on fossil fuels and other traditional resources. The flat plate collector is a one-time purchase with minimal ongoing maintenance costs. Solar panels are commonly used to alleviate issues with unreliable energy sources. This allows for the storage of extra electricity for later use.
The plate area that collects solar energy performs similar to that of solar radiation absorption. It is anticipated that the flat plate collector had produced approximately 500GW by the year 2020. Due to which the non-concentrating solar collector market growth is the fastest.
Non-concentrating Solar Collector Market COVID-19 Analysis
COVID-19 has impacted industries that operate under non-essential sectors. Hence, the production and distribution of non-collecting solar collectors have been heavily impacted due to the pandemic. Global lock-downs have been imposed with an increasing number of positive cases and patient deaths. Strict social distancing norms have been implemented.
Hence, manufacturing companies are working on either reduced capacities or from remote locations. Also, China has been leading the market of photovoltaic cells. Since it is a major epicentre of the pandemic, thus supply chain has been severally disrupted.
The changes in demand and supply have impacted business divisions of flat plate collectors. It is estimated that pandemic will have short- and long-termimpacts on industrial revenue.
Non-concentrating Solar Collector Market Dynamics
Drivers- There is high awareness amongst the consumers about global warming and climate change. It is expected that high consumer awareness and stringent government policies will be a major driver for non-concentrating solar collector market growth. In the year 2016, the solar collector market size was valued at USD 2077 billion.
It is estimated that since 2016, rapid urbanization and industrialization have been taken place. This will fuel the demand for the upcoming years. Also, there have been increasing investments in research and development for inventing cost-effective products.
Opportunities- Raising concerns like increasing prices of conventional energies, future supply issues, certificates of renewable sources. These factors will fuel the demand for non-concentrating solar collector market share. Also, there have been efforts for developing technologies to improve the efficiency of products. Thus, educational institutions and key market leaders are investing high in R&D activities. The high dependence on fossil fuels and other conventional resources has increased environmental pollution.
Restraints- The initial cost for photovoltaic cells is a major concern for many manufacturers. Since initial costs are high it restricts the market growth in low earning sections. Also, the flat plate collectors come in large sizes, hence it is not suitable for old and small size buildings. All the mentioned factors restrict non-concentrating solar collector market growth.
Challenges- In industries, solar thermal collectors are not applied very extensively. Owning to lack of workforce and experiencedinstallers. This has challenged high revenue generation from industrial units. Production efficiency is not achieved by the market players. This impacts the power generation capacities on a weekly, monthly and annual basis. There is a lack of technological efficiency which has impacted its market opportunities.
Cumulative Growth Analysis- Renewable sources of energy like hydropower is alternative options. However, it increases environmental concerns. Besides, Nuclear power is generally not preferred due to damaging outcomes like that of Fukushima and Chernobyl. In addition to this, our earth receives approximately 174 petawatts of energy from the sun. Hence, forming the largest sources for energy with no environmental concerns.
The flat plate collector requires only a one-time investment with a negligible cost for maintenance. Issues for intermittent energy sources are generally solved by connecting solar panels. This helps in saving excess power for later usage.
Value Chain Analysis- Over the years, countries and companies have overused their resources. Due to this increased environmental degradation has taken place. In addition to this, many global agencies have created norms to reduce carbon emissions and energy conservation. Also, there has been increasing demand for energy reserves. These factors have opened many opportunities for the flat plate collector market.
Technological advancement in the upcoming years will help in broadening the use of non-concentrating solar collector systems. The non- concentrating solar collector systems have accounted for the largest market share with 89.6% in 2016. Residential sectors will increase the demand for flat plate collectors. As it is widely used for heating, drying, and other uses of routine life.
Non-concentrating Solar Collector Market Segment Overview
Based on segmentation solar collector markets can be further sub divided into applications and types.
The application sector is estimated to provide positive impacts for the growth of the market during the forecast. Owning to high costs of energies from conventional sources. Besides, in 2016, residential sectors contributed to 20.6% market share due to reduced cost in domestic usage. Also, flat plate collectors can be efficiently used in commercial constructions. Over the years, there has been increasing development of shopping complexes, hotels, and other entertainment purposes. Due to which positive scope for non-concentrating solar collector market growth.
Non-concentrating Solar Collector Market Competitive Landscape
Competitive Rivalry is low to moderate as only limited players operate in the market. However, the competition is expected to rise due to the prices and efficiencies of the products. non-concentrating solar collector market size is highly fragmented. Due to the lack of dominant players in the market. A list of key Non-concentrating Solar Collector Market players is listed below.
Non-concentrating Solar Collector Market Regional Analysis
North America has dominated market growth due to high usage in swimming pools and other commercial locations. It was estimated that in the year 2016, it contributed to 70 % of the total volume share. Also, there has been increasing concern for rapidly depleting natural resources in the US due to which market demand will be propelled.
Besides, developing technologies will enable the efficient utilization of tube collectors within industrial applications. In the European tourism industry, government spending has increased due to which non-concentrating solar collector market growth will be positively impacted. However, demand for flat plate collectors is stagnant in the residential sector. As conventional energy application is still in use. Asia- Pacific, Middle East, and Latin America will also contribute to the Non-concentrating Solar Collector Market share significantly during the forecast period.
Recent Development in Non-concentrating Solar Collector Market
Key Market players are putting in efforts to increase the efficiency of solar panels. It includes developing collectors into smaller sizes with customer-friendly installations. Also, there has been a focus on techniques such as nano-crystalline solar cells. This will include film processing, metamorphic multijunction solar cells, and others. In recent, development in the field has increased production from 7 GW to 40 GW. One of the players named Mordor Intelligence has estimated that solar power will be extensively used in cars, automotive, industry, agriculture, and others in the upcoming years.
Non-concentrating Solar Collector Market Report Overview
The report includes analysis on various sections that overview, analysis on COVID-19, dynamics, value chain, segment overview, competitive landscape, regional analysis, a recent development.
|Market Size||2030: Significant Value|
|CAGR||12% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Absorber Plates and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Greenonetec, Soletrol, Prosunpro, Bosch Thermotechnik, Viessmann, Solahart, Vaillant Group, XNE Group, Dimas SA and Solimpeks.|
|Key Market Opportunities||
|Key Market Drivers||
It is estimated that non-concentrating solar collector market growth will reach a CAGR of 12%.
Main drivers include growing concerns for the depletion of natural resources coupled with government regulations.Besides, there is high awareness amongst the consumers on global warming and climatic change. Also,increasing investments in technological development will fuel the expansion of the non-concentrating solar collector industry.
The initial cost for photovoltaic cells has been a major concern. Since initial costs are high it restricts the market growth in varied commercial and non-commercial sectors. Also, the flat plate collectors are generally manufactured in large sizes, which restricts their application in all building sizes.
• By Application- residential, commercial, and Industrial. • By Type- copper, aluminum, and steel.
The dominant market leaders Greenonetec (Austria), Soletrol (Brazil), Prosunpro (Boston), Bosch Thermotechnik (Germany), Viessmann (Germany), Solahart (Australia), Vaillant Group (Germany), Xne Group (France), Dimas (US), Solimpeks (Turkey).
Regional analysis is done on North America, Latin America, Europe, Asia -Pacific, and the Middle East.
North America has a dominant market position due to its application in swimming pools and other commercial locations. In the year 2016, the market contributed to 70 % of the total volume share. Also, there has been a concern for depleting natural resources in the US.
The application sector is having been estimated to provide positive impacts. Due to the high costs of energy from conventional sources. Also, flat plate collectors are being used efficiently in commercial constructions. Over the past few years, the increasing development of shopping complexes, hotels, and other entertainment purposes has provided positive scope.
Concerns have increased on conventional energies, future supply issues, and others. increasing efforts on the production of energy from solar energy will provide market opportunities.