Flat Plate Solar Thermal Collectors Market was valued at USD 12.30 Billion in 2022 and is projected to reach USD 20.50 Billion by 2030, growing at a CAGR of 7.20% from 2024 to 2030.
From 2023 to 2033, the demand for flat plate solar thermal collectors is expected to continue its upward trajectory, albeit at a more gradual pace compared to the previous five years. This will be influenced by several factors, including advancements in technology, which may offer even more energy-efficient solutions, and an expanding focus on zero-carbon goals by governments and organizations worldwide. As the price of solar equipment continues to decrease, a growing number of residential and commercial properties are expected to adopt solar thermal energy systems. Furthermore, governments are anticipated to continue providing subsidies and incentives to encourage the transition to renewable energy sources, supporting the expansion of solar thermal markets globally.
Several emerging trends in the flat plate solar thermal collectors market are likely to influence the demand dynamics in the coming decade. For instance, the rising awareness of climate change has prompted a shift in public perception toward green energy solutions. The flattening of demand seen in the years following 2022 may be due to market saturation in early adopter regions, but as technology continues to evolve, new regions and applications are anticipated to spur demand. In particular, developing countries that have been slower to adopt solar thermal technology are expected to see a surge in demand as the initial costs of these systems become more affordable.
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The global market for flat plate solar thermal collectors has undergone significant shifts from 2018 to 2022, with demand steadily growing due to increased awareness of renewable energy sources and government incentives. The technology, primarily used for residential and commercial heating, has been praised for its efficiency and environmental benefits. During these years, the global market witnessed substantial growth, with countries like China, India, and the United States leading the charge in adopting solar thermal solutions. The surge was driven by favorable government policies, declining installation costs, and a growing shift toward sustainable energy alternatives.
GREENoneTEC
Viessmann Group
Apricus
SunMaxx
Haining JuYang New Energy
Solahart
Dimas
Wolf
Nobel
BDR Thermea
Hewalex
Supreme Products
Ritter Energie
Kingspan
Grammer Solar
Sunrain
Himin
Shandong Sang Le
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Flat Plate Solar Thermal Collectors Market
Domestic Buildings
Commercial Buildings
Based on Types the Market is categorized into Below types that held the largest Flat Plate Solar Thermal Collectors market share In 2023.
Unglazed Flat Plate
Glazed Flat Plate
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Flat Plate Solar Thermal Collectors Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Flat Plate Solar Thermal Collectors Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Flat Plate Solar Thermal Collectors Market, By Type
6. Global Flat Plate Solar Thermal Collectors Market, By Application
7. Global Flat Plate Solar Thermal Collectors Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Flat Plate Solar Thermal Collectors Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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