Market Research Future, in its latest study, summed neatly that the global non-concentrating solar collector system market 2020 could witness much bigger stability from the years 2016–2022. In these years, the market’s potentiality might rise at a rate of 12%, with a high market value. It could be the great achievement of the market to see the future amidst COVID 19 pandemic across the world.
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Top Influential Factors
In recent years, a lot of research is going on in the field of the non-concentrating solar collector to make production easier and also to make these solar panels smaller and friendlier for customers to use. In this, many efforts are being made to swell the efficiency of solar panels that used to have a very meager efficiency percentage. Various techniques such as thin-film processing, nano-crystalline solar cells, polymer processing, metamorphic multi-junction solar cell, and more will help the future of the solar collector industry. On the basis of this information, MRFR finds this information to be the essential factor leading the market’s growth to a great extent.
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Over a more in-depth study, global solar power production has been increased from 7 GW to 40 GW in the last four years. MRFR estimates that the scale of production of smaller activities like production of solar-powered cars or solar-powered motors for the agriculture industry and many others will grow at a faster rate than the previous years. Mainly the effect of solar power production could be witnessed more, especially post coronavirus disease outbreak, which has altered the business processes at the world level.
The non-concentrating solar collectors are highly found in industries, commercial buildings, and also in households. Renewable energy sources are the best solutions to the growing demand for power. Other sources of energy, such as fossil fuels, hydropower, and nuclear power, have environmental concerns that make renewable sources highly relevant and crucial. These factors have eventually raised the growth prospects for the non-concentrating solar collector market.
Additionally, some other factors, such as negligible maintenance cost of these panels and mounting investments in clean energy, are mostly driving the non-concentrated solar collector market. On the contrary, the factor of the high cost of photovoltaic cells may hamper the growth of the non-concentrated solar collector market over the forecasted period, estimates MRFR.
MRFR further digs the non-concentrating solar collector system market on segmental analysis, which has been conducted over the segments of the absorber plate and application.
In terms of the absorber plate segment, the market has included copper, steel, and aluminum.
In terms of the application segment, the market has included commercial, residential, and industrial.
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The Global non-concentrating solar collector market is led by the European region. The rising environmental concern and supportive government initiatives drive the market in this region. It is anticipated that the market could display significant growth during the forecast period.
Also, the Asia Pacific region will develop a good pace during the forecast period owing to significant installations taking place mainly in countries such as India, China, and Japan.
The United States’ non-concentrating solar collector market is imagined to witness expansion over 8% by the year 2025, owing to federal government initiatives such as tax rebates, financial assistance, and net metering. In fact, Chile is ready to observe growth above 25 % in the forecast period with its favorable climatic conditions. The government of China announced initiatives such as tax benefits and feed-in tariffs to enhance the business.
- Bosch Thermotechnik
- XNE Group
- Vaillant Group
- Dimas SA.
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