Published On : 03 Aug 2018
Resources of fossil fuel are diminishing and cause strong pollution. The world has come together to address the global warming concerns and the common emphasis that has emerged is to harness the concept of renewable and green energy. While a number of green energy methods are currently being developed, including wind energy, biomass, hydrogen and fuel cells, and geothermal power, solar energy equipment have become cost efficient and are being adopted in volumes.
Indian and Chinese Government Emphasizing on Adoption
One of the key component of solar energy is solar thermal collector, which absorbs heat from sunlight, and the market for the same is flourishing on the back of governmental support. For instance, the Indian Government flagged off a record 10 gigawatts of solar energy tenders in June 2018. The country has raised its target of renewable energy capacity to more than 227 GW by 2022, up from its previous target of 175GW, which was already ambitious in itself. On the other hand, China has been the world leader in terms of solar power installations since 2013.
Although solar thermal collectors can also be concentrated that generate electricity by the means of heating fluid to fuel the turbine, more simpler ones are now gaining strong adoption among commercial and residential buildings for heating purposes. Across emerging economies such as China, India, Indonesia, and Malaysia, metropolitan areas are expanding on the back of increased disposable income of urban populations. Even in the developed countries, smart cities are being built that rely on generating as much energy and heat by self as possible. Collectively, all prospering economies are encouraging adoption of solar energy and thereby stroking the solar thermal collector market.
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On the other hand, availability of alternative products such as concentrated photovoltaic and lack of awareness are considerably hampering the growth of the market for solar thermal collectors.
Flat Plate Collectors Key Market Segment
The most common technology of solar thermal collector is flat plate collectors. The dominance of this market segment can be attributed to the cost factors that makes them affordable by a larger group of consumers. The technology has become manageable even for countrywide vendors, who are catering to localized demands. On the other hand, evacuated tube collectors and solar air collectors are other product segments of the solar thermal collector market. Application-wise, the market has been bifurcated into process heat applications, space heating applications, and others.
In the present scenario, the solar thermal collector market makes for an intensely competitive vendor landscape, with no company holding majority shares and the number of participants is regularly increasing too. That being said, some of the notable companies operating in this market are Viessmann Werke, GREENoneTEC, Grammer Solar, Dimas, Solhart, Modulo Solar, Solectrol, Nobel Xilinakis, Prime Laser Tech, Wolf, Supreme Solar, and Shandong Sang Le.
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