According to a new technical market research report, Global Markets for Residential and Commercial Solar Thermal Technologies (EGY069A) from BCC Research the global market for residential and commercial solar-thermal technologies is worth an estimated $8 billion in 2009, but is expected to increase to nearly $20 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 19,8%.
The largest segment of the market, water heating, is estimated to be worth $7.9 billion in 2009, and is projected to grow at a CAGR of 19.9% to reach $19.6 billion in 2014.
The smaller segment, air heating, is expected to reach nearly $92 million in 2014, after increasing at a 5-year CAGR of 7.9% from $62.5 million in 2009.
Residential and commercial solar-thermal technologies include products that capture, concentrate, and/or absorb sunlight to provide thermal energy to a particular process or system. Because all residential and commercial solar-thermal installations must include a component that collects solar radiation, solar-thermal collectors and absorbers provide excellent indicators regarding the market performance and penetration of residential and commercial solar-thermal systems.
The following residential and commercial solar-thermal technologies are included in the scope of this report: unglazed solar collectors, flat-plate solar collectors, evacuated-tube solar collectors, integral collector storage, concentrating solar collectors, glazed solar air collectors, and transpired solar air collectors.
This study will be of interest to manufacturers of solar-thermal technologies, distributors, suppliers, and entrepreneurs and entrepreneurial companies interested in entering or expanding into the solar-thermal technology sector. It will also be of interest to corporate planners and strategists, large commercial and industrial energy consumers, energy market researchers, solar energy advocacy groups, and other public- and private-sector interest groups and market analysts.