Solar Thermal Market in Europe to Grow by USD 1.55 Billion from 2025-2029, Driven by Rising CSP Demand, Report on How AI is Redefining Market Landscape - Technavio
NEW YORK, Feb. 13, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The solar thermal market in Europe and it is set to grow by USD 1.55 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of almost 10.2% during the forecast period, according to Technavio. The solar thermal market in Europe is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Aalborg CSP, Abengoa, Acciona SA, ACS Actividades de Construccion Y Servicios SA, Atlantica Sustainable Infrastructure plc, BrightSource Energy, CGC SAMCA, Cosmosolar Ltd, DEL PASO SOLAR SL, DIMAS SA, Frenell GmbH, GREENoneTEC Solarindustrie GmbH, Greenville Energy and Research Inc., Hewalex Sp. Z o. O. Sp.k., Nobel International EAD, PHOENIX SonnenWarme AG, Robert Bosch GmbH, SENER GRUPO DE INGENIERIA SA, Vaillant Group, and Viessmann Climate Solutions SE are some of the major market participants -. To know about the vendor offerings - Request a sample report
Solar Thermal Market in Europe 2025-2029: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The solar thermal market in europe report covers the following areas:
-- Solar Thermal Market in Europe Size
-- Solar Thermal Market in Europe Trends
-- Solar Thermal Market in Europe Industry Analysis
-- Porter's Five Forces Analysis
-- Customer Landscape
The solar thermal market in Europe is fragmented, and the degree of fragmentation will accelerate. The increasing demand for csp will offer immense growth opportunities. However, the Intermittency of solar resource will hamper the market growth
Solar Thermal Market in Europe 2025-2029: Drivers & Challenges
The Solar Thermal market is experiencing significant growth, driven by the industrial sector's increasing adoption of solar energy for various applications. The solar industry aims to reach new heights with clean energy targets, aiming for gigawatts of solar-generated thermal energy. Solar panels are the key drivers, providing Kilowatt peak solutions for industrial processes like automotive components manufacturing, textiles and chemicals production, and renewable solutions. Fossil fuel consumption reduction is a major factor, with solar-heating catalysis and photothermal materials becoming popular alternatives to fossil-derived energy. Infrared insulating materials enhance the efficiency of Solar Thermal energy systems, while direct heating, drying, and water desalination applications expand their industrial use. Solar heating systems are increasingly replacing artificial energy sources in power generation sectors, with public and private companies investing in Solar Thermal technology. Sun rays are the new fuel, generating electricity through Solar Thermal power plants and Solar devices like desalination plants.
The Solar Thermal market is experiencing significant growth due to the increasing demand for clean energy resources. However, there are several challenges that need to be addressed to maximize its potential. One major challenge is the presence of seawater and salt minerals in some regions, which can impact the efficiency of solar thermal power generation. Power generation industries rely heavily on steam turbines, making the availability of fresh water a crucial factor. In sectors like agriculture and food processing, solar thermal systems are increasingly being used for water desalination and drying. Desalination plants and solar thermal desalination are key applications. However, regulatory plans and greenhouse gas emissions are concerns for the industry. For residential utilization and construction sector, green building codes are promoting the use of solar water heating, solar drying, solar air heating, and solar desalination. Thermosiphoning, heat pumps, water heaters, boilers, furnaces, and solar chimneys are popular solar thermal technologies. Swimming pool facilities and the tourism industry are also embracing solar thermal systems. Concentrating solar panels, flat plate collectors, evacuated tube collectors, unglazed water collectors, and air collectors are common solar thermal technologies. The market faces competition from fossil fuels and energy resources, but the sun's rays offer a renewable and abundant alternative. Energy storage and glazed collectors are essential for efficient energy usage.
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Segment Overview
This solar thermal market in Europe report extensively covers market segmentation by
-- Technology
-- L And M Temperature
-- High Temperature
-- Application
-- Heat Generation
-- Power Generation
-- Geography
-- Europe
1.1 L and M temperature- The Solar Thermal market is experiencing significant growth due to increasing energy costs and government incentives for renewable energy. Businesses are investing in solar thermal systems to reduce energy expenses and improve sustainability. These systems use the sun's energy to heat water, providing cost-effective and eco-friendly solutions for hot water and space heating needs. The market is expected to continue expanding as more companies adopt renewable energy strategies.
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Solar Thermal Market in Europe 2025-2029: Key Highlights
-- CAGR of the market during the forecast period 2025-2029
-- Detailed information on factors that will assist solar thermal market in
Europe growth during the next five years
-- Estimation of the solar thermal market in Europe size and its
contribution to the parent market
-- Predictions on upcoming trends and changes in consumer behavior
-- The growth of the solar thermal market in Europe across Europe
-- Analysis of the market's competitive landscape and detailed information
on vendors
-- Comprehensive details of factors that will challenge the growth of solar
thermal market in Europe vendors
Solar Thermal Market In Europe Scope
Report Coverage
Details
Base year 2024
Historic period
2017-2021
Forecast period
2025-2029
Growth momentum & CAGR Accelerate at a CAGR of 10.2%
Market growth 2025-2029
USD 1.55 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 9.8
Regional analysis
Europe
Performing market contribution Europe at 100%
Key countries
Germany, Spain, France, Italy, and Rest of Europe
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Aalborg CSP, Abengoa, Acciona SA, ACS Actividades de Construccion Y Servicios SA, Atlantica Sustainable
Infrastructure plc, BrightSource Energy, CGC SAMCA, Cosmosolar Ltd, DEL PASO SOLAR SL, DIMAS SA, Frenell GmbH,
GREENoneTEC Solarindustrie GmbH, Greenville Energy and Research Inc., Hewalex Sp. Z o. O. Sp.k., Nobel
International EAD, PHOENIX SonnenWarme AG, Robert Bosch GmbH, SENER GRUPO DE INGENIERIA SA, Vaillant Group, and
Key companies profiled Viessmann Climate Solutions SE
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis,
COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get
segments customized.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get
segments customized.
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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