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Solar Thermal Technologies: Applications and Global Markets

  • January 2016
  • 276 pages
  • BCC Research
Report ID: 3603817


Table of Contents

This BCC Research report studies the current status of the worldwide solar thermal (ST) industry and assesses market potential for all major ST technologies over a five-year period from 2014 through 2019.

Use this report to:

Analyze each major viable ST technology and determine its current market status
Examine the impact of solar thermal technology on future markets and present forecasts of growth through 2019.
Assess and discuss latest technological issues and trends in ST technology
Evaluate government roles in ST technology worldwide


The global market for solar thermal technologies is expected to grow at a compound annual growth rate (CAGR) of 16.6%, from nearly $19.8 billion in 2014 to about $42.6 billion in 2019.
Concentrated solar power market reached $2.4 billion in 2014 and should reach $25.8 billion by 2019, with a CAGR of 60.2% through 2019.
Solar heat market is expected to decrease at a CAGR of -0.6%, from $17.4 billion to nearly $16.8 billion by 2019.


BCC Research’s goal in conducting this study was to describe the current status of the worldwide solar thermal (ST) industry and assess its growth potential. The study includes all major residential, commercial, industrial and utility-scale ST technologies.
More specifically, the study included the following objectives: (1) summarize existing ST technologies and promising emerging technologies that are underdevelopment; (2) evaluate the existing ST industry, focused on the manufacturers and providers of major components for ST technologies; and (3) assess market potential for all major ST technologies over a five-year period from 2014 through 2019.


Worldwide interest in alternative energy has greatly increased during the last decade, mainly driven by the increased global awareness surrounding several energy-related issues, including energy costs and security, greenhouse gas (GHG) emissions, climate change, air and water pollution, and other environmental and economic concerns. The application of ST technologies represents one of several potential solutions that are
being widely implemented by residential and commercial energy consumers to address these issues. Residential and commercial ST technologies represent effective,

economically viable opportunities for businesses and individuals to reduce grid-energy and/or fossil-fuel consumption for process heating, whereas industrial and utility-scale ST technologies represent effective, increasingly economically viable opportunities for power providers, utilities, industries and communities to capture and utilize renewable solar energy for process heating and electrical power generation.

Broad-based support for alternative energy as a solution to energy security, global warming and rising fossil energy prices has generated tremendous interest in solar energy technologies. Long overshadowed by solar photovoltaic (PV) technologies, ST technologies have undergone extensive development and represent a unique
technological platform for utility-scale power generation. ST technologies are technologically mature and remain economically viable for far more residential and commercial purchasers compared with PV. In the following chapters, this study thoroughly assesses market conditions that have facilitated the growing demand for all
ST technologies (both for heat and power generation) and their increasing implementation around the world.


The scope of this investigation includes only major viable technologies and products implemented in all market sectors to concentrate, collect, receive, absorb or otherwise make available solar thermal energy for heating or power generation processes. These ST technologies can include various components such as receiver surfaces, receiver tubes (heat collection elements), solar collector assemblies (structural frames), reflective surfaces (mirrors, reflective film), and solar tracking and motion control systems. Solar thermal technologies are integral components to any ST system whose sales and manufacturing volumes are largely indicative of the actual or anticipated performance of the entire ST technology market. Emerging ST technologies anticipated to be commercially nonviable are not included in the market assessment of this report.

BCC Research analyzes each major viable ST technology, determines its current market status, examines its impact on future markets and presents forecasts of growth ver the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environment in support of this industry.

BCC Research analyzes the industry on a worldwide basis in terms of its manufacture and deployment of its technologies or products. BCC Research examines government roles in support of solar thermal technologies worldwide, including regulatory support and requirements, feed-in tariffs and promotional incentives for various ST
technologies, as relevant and available. The report provides a review of the most relevant ST technologies, discusses recent trends in capacity installation and unit sales, and provides industry overviews and market assessments for each ST technology. By 2019, the worldwide markets for ST technologies are expected to reach $42.6 billion with an estimated compound annual growth rate (CAGR) of 16% from 2014 to 2019.

The following is a list of the major worldwide markets that were assessed in support of this study:

United States.
Europe: European Union; Non-EU members.
Asia (excluding China).
MENA Region.
Rest of the world (ROW)

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