Market Overview

The global Solar Thermal Collectors Market was valued at USD 38.3 Billion in 2024. It is projected to reach USD 80.8 Billion by 2033, growing at a CAGR of 8.21% during the forecast period from 2025 to 2033. The market growth is driven by increased adoption of sustainable energy sources, rising environmental awareness, and significant investments in public, commercial, industrial, and infrastructure projects worldwide.

Study Assumption Years

• Base Year: 2024

• Historical Year/Period: 2019-2024

• Forecast Year/Period: 2025-2033

Solar Thermal Collectors Market Key Takeaways

• Current Market Size: USD 38.3 Billion in 2024

• CAGR: 8.21% (2025-2033)

• Forecast Period: 2025-2033

• Non-concentrating solar thermal collectors (including flat plate, evacuated tube, unglazed water collectors, and air collectors) represent the largest product segment.

• Commercial application accounts for the largest share of the market due to high electricity demands for lighting, ventilation, and hot water.

• Asia Pacific region dominates the market, attributed to rising environmental awareness and increased investment in smart technologies and infrastructure.

• Growing demand for clean energy, particularly solar, is stimulated by environmental concerns and rising pollution from fossil fuels.

• Increasing construction of smart cities globally boosts demand for solar thermal collectors as they promote sustainable energy usage.

Sample Request Link: https://www.imarcgroup.com/solar-thermal-collectors-market/requestsample

Market Growth Factors

The global market growth for solar thermal collectors is significantly propelled by the rising demand for clean and renewable energy sources. Increasing environmental awareness among the public has led to heightened adoption of sustainable energy solutions as a response to pollution caused by fossil fuels and harmful industrial emissions. Solar thermal collectors harness abundant solar radiation, converting it to heat or electricity, thus presenting an eco-friendly alternative to reduce global warming and climate change impacts.

Development of smart cities around the world further accelerates market growth. These cities rely heavily on information and communication technology (ICT) to optimize functions and improve life quality. The installation of solar thermal collectors in smart city projects and encouragement for households to use solar energy instead of conventional sources reduces pollution levels and supports sustainability goals.

Another critical driver is the depletion of non-renewable resources such as petroleum, coal, and natural gas. Since these resources are finite and consumed faster than replenished, shifting to sustainable energy sources like solar power is imperative. Solar thermal collectors provide an effective way to collect and convert solar energy into electricity without harming the environment, making them a favored choice for reducing dependence on fossil fuels and promoting cleaner energy alternatives.

Market Segmentation

Breakup by Product:

• Concentrating: These collectors have a larger interceptor than absorbers and use mirrors to reflect and concentrate sunlight onto a receiver, transforming solar radiation into other energy forms. They can store thermal energy, enabling power availability even without sunlight, providing flexible and dispatchable clean energy.

• Non-Concentrating: This segment, the largest, includes flat plate, evacuated tube, unglazed water collectors, and air collectors. They typically feature interceptors and absorbers of similar size, used for heating water in residential buildings, swimming pools, and industrial applications. They utilize direct and diffuse solar radiation under various angles.

Breakup by Application:

• Commercial: Holds the largest market share. Commercial establishments including malls, hospitals, schools, and offices have high electricity needs throughout the day for lighting, ventilation, and hot water, driving demand for solar thermal collectors.

• Residential: Demand is growing due to construction of deluxe apartments and smart buildings coupled with increasing environmental consciousness among homeowners.

• Industrial: Industries are shifting towards renewable energy due to high electricity consumption for machinery operation, lighting safety, and cold storage needs.

Regional Insights

Asia Pacific exhibits clear dominance with the largest market share in the solar thermal collectors market. This leadership is attributed to heightened environmental awareness, concerns over natural resource depletion, increasing pollution, and widespread availability of advanced heating and cooling technologies. Additionally, the growing use of smart electronic appliances in the region catalyzes demand. North America is also expected to grow with increased installation of water heating systems across commercial, residential, and industrial sectors and ongoing smart city initiatives to reduce carbon emissions.

Key Players

• Absolicon Solar Collector AB

• Alternate Energy Technologies

• Apricus Solar Co. Ltd.

• GREENoneTEC Solarindustrie GmbH

• Heliodyne Inc.

• HTP Comfort Solutions LLC (Ariston Thermo USA LLC)

• Solimpeks

• Sunearth

• Sunerg Solar S.R.L

• Sun Maxx Solar L.L.C.

• Sunrain

• TVP Solar

Recent Developments & News

Key players are benefiting from rising environmental awareness and growing global electricity consumption. They focus on cost-effective substitute materials to provide affordable solar thermal collectors, heavily invest in R&D to develop innovative products using highly reflective materials, and pursue partnerships and acquisitions to expand production facilities and sales. These strategic actions help maintain competitive market positions.

Customization Note

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us

IMARC Group,

134 N 4th St. Brooklyn, NY 11249, USA,

Email: sales@imarcgroup.com,

Tel No: (D) +91 120 433 0800,

United States: +1-201971-6302