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| Global Solar Collector Tube Market Size |
Solar collector tubes are extensively used to absorb solar thermal energy and
transfer it to a storage system or heating system. They offer cost-effective
heating solutions, reduce energy bills, and contribute to the environmental
protection goals of organizations.
The global
Solar Collector Tube Market is estimated to be valued at US$ 5.26 Mn in 2024 and is
expected to exhibit a CAGR of 4.9% over
the forecast period 2024 to 2031, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The increasing adoption of renewable energy sources across commercial and
residential sectors to reduce carbon emissions has accelerated the demand for
solar collector tubes in recent years. Governments and international
organizations are promoting the use of solar energy through various subsidies
and policies. This has encouraged manufacturing companies to invest heavily in
the development of advanced solar collector tubes with high thermal efficiency
and durability. The production of carbon-neutral solar collector tubes using
recycled materials has also picked up pace to cater to the growing needs of
sustainability-conscious consumers.
Segment Analysis
The global solar collector tube market is dominated by evacuated tube
collectors sub segment. Around 65% of the total market share is held by
evacuated tube collectors sub segment. Flat plate collectors currently hold
around 30% market share but is expected to lose share to evacuated tube
collectors. Evacuated tube collectors are dominating the market as they provide
20-50% higher efficiency compared to flat plate collectors. They are suitable
for wide range of climatic conditions and water temperatures achieve with
evacuated tube collector is high enough for various applications like space
heating and industrial process heating.
Key Takeaways
Global
Solar Collector Tube Market Size is expected to witness high growth over
the forecast period of 2024 to 2031. The global Solar Collector Tube Market is
estimated to be valued at US$ 5.26 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period
2024 to 2031.
Regional analysis:
Asia Pacific region dominated the global market in 2024 with a share of over
40% and is expected to continue its dominance during the forecast period. This
is attributed to the massive investments by China, Japan and India to produce
and install solar collectors for meeting increasing energy demand through
renewable sources. Europe was the second largest regional market for solar
collector tubes in 2024 owing to supportive government policies promoting solar
energy adoption in countries like Germany, Italy and France.
Key players:
Key players operating in the solar collector tube market are Church &
Dwight Co., Inc., Swiss Precision Diagnostics GmbH, Procter & Gamble Co.,
and Abbott Laboratories. Out of these, Church & Dwight Co., Inc. and
Procter & Gamble Co. collectively held over 30% market share in 2024 owing
to their wide product portfolio and strong distribution network in major solar
markets across the globe. Swiss Precision Diagnostics GmbH and Abbott
Laboratories are also expected to increase their market presence during the
forecast period through new product launches and geographic expansion.
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