Solar thermal collectors are heat exchangers which convert solar radiation into thermal energy. Inclination towards renewable energy and sustainable initiatives can induce demand for solar thermal collectors. The global Solar Thermal Collectors Market report by Market Research Future (MRFR) estimates the revenue and growth of the industry for the period of 2018 to 2023 (forecast period). The impact of the COVID-19 pandemic is also taken under consideration.

According to MRFR, the global solar thermal collectors market will surpass a valuation of USD 41,900 million by 2023. Rise in renewable energy schemes and incentives for its adoption by industries for lowering the reliance on utilities for power can drive the market demand. Introduction of more affordable collectors and increasing awareness has boosted the sales of solar thermal collectors.

Also Read: [FURL=http://www.marketwatch.com/story/covid-19-pandemic-impact-on-solar-thermal-collectors-market-2020-development-strategies-growth-drivers-regional-trends-future-scope-and-forecast-by-2023-2020-09-03]http://www.marketwatch.com/story/covid-19-pandemic-impact-on-solar-thermal-collectors-market-2020-development-strategies-growth-drivers-regional-trends-future-scope-and-forecast-by-2023-2020-09-03[/FURL]

Competitive Outlook

Ouraset, SunEarth, Sunerg Solar s.r.l., GREENONETEC SOLARINDUSTRIE GMBH, Heliodyne, Inc., Alternate Energy Technologies, LLC, HTP Comfort Solutions LLC, TVP Solar, Absolicon Solar Collector AB, and Solimpeks are key players of the global solar thermal collectors market.

Segmentation

The global Solar Thermal Collectors Industry is segmented by product type and application.

By product type, it is segmented into concentrating and non-concentrating. By concentrating, it is segmented into parabolic dish, parabolic trough, compound parabolic concentrator, and solar tower. By non-concentrating, it is divided into evacuated tube and flat plate.

By application, it is segmented into industrial, commercial, and residential. The residential segment is poised to capture a large share of the global solar thermal collectors market owing to high tariffs on power and large consumption of electricity.

Regional Analysis

MRFR's analysis of the global solar thermal collectors market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

Among these regions, the Asia Pacific has been observed to be the biggest contributor to growth for the global market. The APAC solar thermal collector regional market is expected to retain its leadership position as it grows at the highest CAGR over the review period.

North America can account for a large market share due to concerns of depletion of fossil fuels and heating of swimming pools. Development of energy-efficient buildings for capturing the largest solar irradiance levels can trigger demand in the market.

Browse Complete Solar Thermal Collectors Market Report at: [FURL=https://www.marketresearchfuture.com/reports/solar-thermal-collectors-market-6687]https://www.marketresearchfuture.com/reports/solar-thermal-collectors-market-6687[/FURL]