13 Jun 2023

Non-concentrating Solar Collectors Manufacturers Are Bravely Stepping Into Unknown Waters | Future Market Insights Inc.

13 Jun 2023  by PRESS RELEASE   
The global non-concentrating solar collectors market is anticipated to generate revenues of US$ 13,024.38 million in 2023. Demand for non-concentrating solar collectors is anticipated to expand at a CAGR of 13% and reach US$ 44,212.14 million by 2033.

Modern Technology Leads the Success Path of the Non-concentrating Solar Collectors Manufacturers

The adoption of non-concentrating solar collectors is being driven by rising awareness of the negative consequences of fossil fuels.

Ongoing attempts by many governments to adopt energy-efficient technology are adding to the revenue streams of the global industry.

Modern non-concentrating solar harvesting improvement methods focus on improving photo-thermal conversion through source-directed actions and thermal loss recycling in the solar harvesting process.

Non-concentrating solar collectors' popularity is reaching new heights, as they are an excellent choice for early adopters of solar technology. This is because they are less expensive than concentrating solar collectors, solar panels, and solar fuel cells.

Individuals want to embrace solar technology since many governments offer financial assistance through subsidies.

Plenty of thermally driven processes, such as solar distillation and sun sterilization, create a need for non-concentrating solar collectors to achieve green manufacturing.

Increasing the effectiveness of non-concentrating solar collectors while keeping a respectable sun harvesting efficiency has a positive impact on residential, commercial, and agricultural solar penetration.

Cost Constraint Become a Roadblock for the Future Growth

Conventional electric and gas heaters are less expensive than solar collectors that do not concentrate sunlight.

Due to the lack of focusing mirrors and larger absorber surfaces, non-concentrating solar collectors require a wide setup space. In smaller homes and flats, this results in space limitations.

Governmental policies, restrictions, and incentives have an impact on market expansion.

While non-concentrating solar collector efficiency has increased over time, it still lags below concentrating solar collector efficiency or that of other renewable energy sources.

Due to areas with a lack of space or where a greater energy density is required, the non-concentrating solar collectors market graph indicates a slightly negative future.

Historical Growth and Non-concentrating Solar Collector Industry Analysis (2018 to 2022 vs. 2023 to 2033)

Demand Analysis from 2018 to 2022

From 2018 to 2022, the industry had a CAGR of 8.3%, which is expected to develop at a 13% CAGR during the forecast period. The market's value increased, going from US$ 7,069.11 million in 2018 to US$ 11,526 million in 2022 as it expanded.

Governmental incentives have the potential to significantly boost the market. For instance, Danish gas transmission system operator Evida decided to remove the expenses associated with residential grid disconnection in March 2021. They prefer to heat with renewable energy over gas provided via the grid. Solar energy demand raised the adoption of solar thermal in recent years. For instance, the European market began to expand again in 2021 after COVID-19.

According to preliminary projections, there was an installation level of up to 2,146,901 square meters or an 8.0% increase from 2020. This led to the global market expansion during this period.

The non-concentrating solar collectors installation is likely to increase globally as solar energy becomes an environmentally friendly renewable energy source. Systems for solar thermal power or electric generating gather and focus sunlight to produce the high-temperature heat needed to make electricity. The solar district heating system combined with seasonal storage is the market’s leading trend.

Between 2023 and 2033, this is likely to create an additional potential of US$ 31,187.76 million, with a growth rate of 3.39x in that time.

How Non-concentrating Solar Collectors Market Competitors Coping Up with Dynamic Environment

Manufacturers of non-concentrating solar collectors are embracing strategic measures to promote their sustainable growth and spur innovation in the competitive industry. Due to the market's concentration and dominance by a few key players, this business is devoting a significant portion of its funding to large research and development projects. By doing so, they hope to maximize the use of this plentiful renewable resource and harness the full potential of solar radiation.

Non-concentrating solar collectors manufacturers are bravely stepping into unknown waters as they realize the enormous potential in developing nations and isolated regions. They are actively experimenting with cutting-edge technologies and specially designed strategies that address the particular difficulties encountered in these areas.

Key players in the non-concentrating solar collectors industry play a critical role in elevating communities. They focus on enhancing living circumstances and promoting sustainable development by providing non-concentrating solar collectors technology to these underdeveloped areas.

These forward-thinking manufacturers are aware that significant impact, not just profit, is what drives sustainable growth. To provide accessible and dependable non-concentrating solar collectors to areas that have historically lacked stable energy sources, they are strategically coordinating their investments and efforts.

By adopting this inclusive philosophy, manufacturers are closing the energy gap, strengthening communities, and opening the door to a more sustainable and just future.

Recent Developments

According to JinkoSolar Holding Co.—the leading Distributed Generation distribution agreement Jinko Solar Co., Ltd. has ever signed outside of China, the partnership between Jinko Solar Co., Ltd. and Aldo Solar has been extended through 2022. By the plan, about 4 million solar modules, or 2 G.W. of installed power, have been distributed.

Kenya is heating industrial activities using solar concentrators in June 2022 as fuel costs rise. Iberafrica Power (E.A.) Limited in Nairobi, one of Kenya's top Independent Power Producers (IPPs), has been utilizing solar heating since the successful commissioning of a 330 m2 solar installation. Absolicon and Nairobi-based partner Ariya Finergy created this, using T160 Absolicon solar collectors.


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