Solar Thermal Collectors Market Analysis, Cost, Production Value, Price, Gross Margin and Competition Forecast to 2027
Solar thermal collectors are heat exchangers which convert solar radiation into thermal energy. Inclination towards renewable energy and sustainable initiatives can induce demand for solar thermal collectors. The global solar thermal collectors market report by Market Research Future (MRFR) estimates the revenue and growth of the industry for the period of 2018 to 2023 (forecast period). The impact of the COVID-19 pandemic is also taken under consideration. Market Scope According to MRFR, the global solar thermal collectors market will surpass a valuation of USD 41,900 million by 2023. Rise in renewable energy schemes and incentives for its adoption by industries for lowering the reliance on utilities for power can drive the market demand. Introduction of more affordable collectors and increasing awareness has boosted the sales of solar thermal collectors. Development of new technologies which can increase its storage capacity and efficiency can drive its demand across residential