Non-Concentrating Solar Collector Market to Grow with a CAGR of 12.19% By 2029

Growing environmental concerns & renewable energy adoption and declining costs & technological advancements are likely to drive the market in the forecast period.

According to TechSci Research report, “Non-Concentrating Solar Collector Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Non-Concentrating Solar Collector Market is experiencing a surge in demand in the forecast period. A primary driver propelling the global non-concentrating solar collector market is the increasing emphasis on environmental sustainability and the global transition towards renewable energy sources.

With growing concerns about climate change and the environmental impact of traditional energy sources, governments, businesses, and consumers are actively seeking cleaner alternatives. Non-concentrating solar collectors, by harnessing the sun's energy without the need for optical concentration, offer a sustainable solution that reduces reliance on fossil fuels and minimizes carbon emissions.

The demand for non-concentrating solar collectors is fueled by a collective commitment to mitigating climate change and achieving renewable energy targets. Governments worldwide are implementing policies and incentives to encourage the adoption of solar technologies, aligning with international efforts to create a more sustainable energy landscape. As a result, the non-concentrating solar collector market is experiencing significant growth as a key contributor to the global transition towards cleaner and more environmentally friendly energy sources.

Another pivotal driver shaping the global non-concentrating solar collector market is the continuous advancement of technology and the consequential reduction in manufacturing and installation costs. Over the years, research and development efforts have led to innovations in materials, design, and manufacturing processes, enhancing the efficiency and performance of non-concentrating solar collectors. These technological improvements have contributed to increased energy conversion rates, making non-concentrating solar collectors more attractive and economically viable.

The declining costs associated with non-concentrating solar collectors are pivotal in driving their widespread adoption. Economies of scale, coupled with increased competition in the solar technology sector, have led to a more cost-effective market for both residential and industrial consumers. As a result, the financial barriers that once hindered the mainstream adoption of non-concentrating solar collectors are diminishing, making them an increasingly accessible and appealing choice for those seeking sustainable energy solutions. This combination of technological advancements and cost reductions positions non-concentrating solar collectors as a competitive and compelling option in the global renewable energy landscape.

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The Global Non-Concentrating Solar Collector Market is segmented into absorber plates, application and region.

Based on Absorber Plates, The Copper segment held the largest Market share in 2023. Copper possesses excellent thermal conductivity, meaning it can efficiently absorb and transfer heat. In the context of solar collectors, where the goal is to capture sunlight and convert it into heat, copper's high thermal conductivity allows for rapid and effective absorption of solar energy.

Copper is a durable and corrosion-resistant material, ensuring a long lifespan for the solar collector systems. The ability to withstand harsh environmental conditions, such as exposure to sunlight, moisture, and temperature variations, is crucial for the reliability and longevity of solar thermal systems.

Copper is compatible with many heat-transfer fluids commonly used in solar thermal systems. The absorber plate comes into direct contact with these fluids, and the compatibility ensures a stable and efficient heat transfer process within the system.

Copper is a highly malleable and ductile metal, making it easy to work with during the manufacturing process. Its formability allows for the creation of intricate designs and configurations, optimizing the absorber plate's efficiency in capturing solar radiation.

Copper is a recyclable material, aligning with the growing emphasis on sustainability and environmentally friendly practices. The recyclability of copper contributes to the overall life cycle sustainability of solar collector systems.

Copper's performance is noteworthy even under low light conditions. This is particularly important for non-concentrating solar collectors that operate effectively across a range of light intensities, making them suitable for various geographical locations and weather conditions.

Based on Application, The Residential segment held the largest Market share in 2023. There is increasing awareness among homeowners about the environmental impact of conventional energy sources and the benefits of renewable energy. This awareness has led to a rising demand for residential solar solutions, including non-concentrating solar collectors.

Many governments around the world have implemented policies and incentives to encourage the adoption of solar technologies in residential settings. Subsidies, tax credits, and feed-in tariffs make residential solar installations more financially attractive, driving widespread adoption.

Advances in technology, economies of scale, and increased competition in the solar industry have led to a reduction in the cost of solar technologies. This cost reduction has made non-concentrating solar collectors more affordable for residential consumers, further boosting their popularity.

Non-concentrating solar collectors are versatile and can be used for various residential applications, such as water heating, space heating, and even small-scale electricity generation. This versatility makes them suitable for meeting diverse energy needs in households.

Non-concentrating solar collectors are relatively easy to install, especially compared to more complex concentrating solar technologies. This ease of installation makes them attractive for residential use, where homeowners may be looking for simple and cost-effective solutions.

Homeowners are increasingly adopting eco-conscious behaviors and seeking sustainable solutions for their homes. Non-concentrating solar collectors align with this trend, allowing residents to reduce their carbon footprint and contribute to environmental sustainability.

Residential consumers are often motivated by the desire for energy independence and resilience. Non-concentrating solar collectors enable homeowners to generate their own clean energy, reducing dependence on traditional utility sources and providing resilience during power outages.

Advances in design and aesthetics have made solar collectors more visually appealing, facilitating their integration into residential structures. Building-integrated solar solutions, such as solar roof tiles, contribute to the seamless integration of solar technology into residential architecture.

Major companies operating in the Global Non-Concentrating Solar Collector Market are:

Soltec Power Holdings S.A.

Viessmann Werke GmbH & Co. KG

Bosch Thermotechnik GmbH

Greenonetec Group

Soletrol Pty Ltd

Prosunpro Holdings Ltd

Phoenix Solar Thermal Inc

SunMaxx Solar

 ABB Ltd

Xünlei Group Co., Ltd

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“The Global Non-Concentrating Solar Collector Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The primary driver of the global non-concentrating solar collector market lies in its economic viability and alignment with sustainable business practices. Non-concentrating solar collectors offer businesses a cost-effective means to harness solar energy, reducing operational expenses and contributing to environmental sustainability. With advancements in technology and economies of scale, the market witnesses a decreasing cost trajectory, making non-concentrating solar collectors an attractive investment.

As companies increasingly prioritize sustainability in their operations, the adoption of these solar solutions becomes integral to achieving renewable energy goals, enhancing corporate social responsibility, and maintaining economic competitiveness in an evolving energy landscape. Therefore, the Market of Non-Concentrating Solar Collector is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Non-Concentrating Solar Collector Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029 Segmented By Absorber Plates (Copper, Aluminum, and Steel Plates), By Application (Residential, Commercial, and Industrial), By Region, By Competition”, has evaluated the future growth potential of Global Non-Concentrating Solar Collector Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Non-Concentrating Solar Collector Market.

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