According to the latest report published by Market Research Future (MRFR) the global market for Non-Concentrating Solar Collector is set to grow at an impressive rate over the next couple of years. The burgeoning demand for energy across the globe has led to an increased use of solar panels. Non-Concentrating Solar Collectors are used in modern solar panel equipment for capturing heat energy. Merely in two decades or so, the solar energy market has spurted distinctively. Much of the success can be credited to the endless efforts in developing advanced technologies to generate solar power thereby transforming it as one of world’s fastest growing energy source. Today, solar panels are being installed at both residential and commercial vicinities owing to their superior functionality as compared to conventional power supply systems.
Global sales of Non-Concentrating Solar Collectors are likely to increase further in the near future due to factors such as rising level of awareness regarding depleting non-renewable energy and growing concerns over carbon emission. Moreover, the installation and maintenance cost of solar panels with Non-Concentrating Solar Collectors has continued to drop in recent years and hence becoming extremely viable even for individual ownership. Increasing government initiatives to utilize clean energy and rising cost energy produced from non-renewable resources is also likely reflect favourably on the global non-concentrating solar collector market during the forecast period.
Non-Concentrating Solar Collectors in many ways are considered superior to concentrating collectors. It is observed that Non-Concentrating Solar Collectors are more effective in low latitude. In countries such as China and India, solar power energy grids are being developed at scale to address the unmet energy requirements. At the same time, manufacturers are consistently making efforts to improve their product and develop novel solar energy capturing and conversion technology. The arrival of next-gen solar thermal power systems has allowed a greater utilization of renewable energy with higher efficiency and excellent cost-effectiveness. Nonetheless, the high cost of photovoltaic cells, to a certain extent, is restricting the adoption of solar panels in developing countries, which may hamper the growth of the market.
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Latest Industry Highlights:
ClearVue Technologies a prominent building-integrated solar PV company based in Perth is reportedly planning to initiate sales of its solar energy harvesting clear glass windows on a global level.
DHV Technology and Spire have recently revealed a collaboration project, which will allow Spire to supply its solar panels to the space industry. As per online sources, DHV Technology will now develop and sell Spire’s double deployable panels to clients looking to enhance satellite performance and reliability.
Tech giant Microsoft has recently announced of a successful agreement with Singaporean solar firm Sunseap. The US based company is set to buy all the power generated by a planned rooftop solar project.
Global Market for Non-Concentrating Solar Collector – Segmental Analysis
MRFR in its report has offered an all-inclusive segmental analysis of the Global Non-Concentrating Solar Collector Market on the basis of absorber plate (copper, aluminum and steel), application (commercial, residential and industrial, and region (North America, South America, Europe, Asia-Pacific and Middle East & Africa).
Europe will remain the most Attractive Market for Non-Concentrating Solar Collector Over 2022
Europe is likely to dominate the global market for Non-Concentrating Solar Collector during the assessment period. Stricter regulatory norms on the use of non-renewable resources and increased government efforts in promoting clean energy is having a positive impact on the sales of Non-Concentrating Solar Collector in the region. The market in Europe is expected to exhibit a healthy growth over 2022. Apart from Europe, regions such as Asia Pacific and North America are also likely present considerable growth opportunities for market players in the near future.
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