Solar thermal energy concentrates sun rays on a heat transfer fluid to produce steam. This steam is then converted into mechanical energy in a turbine that turns a generator to produce electricity. It is different from solar photovoltaic (PV) systems, wherein the electricity is produced directly from solar radiation using solar panels. In terms of geographic regions, APAC accounted for the major share in the market in 2017. The economic development and the need for energy in the emerging countries such as China and India will propel the growth of the solar thermal electricity market during the forecast period. The heat generation segment accounted for the major share of the market during 2017. According to our research report, the growing demand for heat generation will significantly drive the growth of the solar thermal energy market during the forecast period. The global Solar Thermal market was xx million US$ in 2024 and is expected to xx million US$ by the end of 2034, growing at a CAGR of xx% between 2025 and 2034. This report studies the Solar Thermal market size (value and volume) by players, regions, product types and end industries, history data 2020-2023 and forecast data 2025-2034; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Solar Thermal in these regions, from 2020 to 2034, covering
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
We can also provide the customized separate regional or country-level reports, for the following regions:
The study objectives of this report are:
In this study, the years considered to estimate the market size of Solar Thermal are as follows:
This report includes the estimation of market size for value (million USD) and volume (MW). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Solar Thermal market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources. For the data information by region, company, type and application, 2024 is considered as the base year. Whenever data information was unavailable for the base year, the prior year was considered.
Available Customizations With the given market data, EternityInsights offers customizations according to the company's specific needs. The following customization options are available for the report: Further breakdown of Solar Thermal market on basis of the key contributing countries. Detailed analysis and profiling of additional market players.
Choose License Type