Non-concentrating Solar Collector Market Share

APAC Market Forecast

Asia Pacific industry is likely to hold largest revenue share of 36% by 2037. The market is growing in the region due to the increased demand from planned and current solar power projects. In China, the first quarter saw a 33.7% increase in solar power and a 1.8% increase in coal power. With 430 GW of solar energy generated so far, China has nearly half of its 1,130 GW of coal power plants online. Also, the market is anticipated to benefit from alluring government programs and financing for clean renewable energy. For instance, the Chinese government launched the "Top Runner Program" to promote the use of highly efficient solar photovoltaic (PV) panels. As part of this strategy, China sets efficiency standards for PV modules, which forces manufacturers to develop and sell more efficient solar panels. The effort aims to improve the non-concentrating solar collectors' overall performance and effectiveness throughout the country.        

North American Market Statistics

North American non-concentrating Solar Collector market is anticipated to account for a share of 25% during the projected period. The non-concentrating solar collectors are gaining popularity in the region due to their use in commercial facilities, which include swimming pools and space heating in colder climates. Also, the growth can be attributed to growing concerns about the sustainability of the environment and the dwindling supply of natural resources. As per a report, with only 3.45 hectares of biocapacity per person, the United States has one of the greatest ecological footprints in the world, at 8.04 gha per person.