The global solar thermal fuel market size is poised to grow at a considerable rate owing to the rapidly expanding residential sector worldwide. According to a joint report published by UN Environment, the World Green Building Council, and the International Energy Agency (IEA), buildings and construction contribute 39% of the energy-related carbon dioxide emissions and account for 36% of the final energy use globally. Moreover, the report reveals that in the next 40 years, about 230 billion square meters in new constructions will be built across the globe, thereby adding exponentially to the already high emission levels. This has given rise to a desperate need to curb carbon emissions from the construction sector and has invigorated public and private interest in developing green technologies. This market is likely to benefit as solar thermal fuel cells are set to become a highly demanded technology in the near future.
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Fortune Business Insights, in its report, titled “Solar Thermal Fuel Market Size, Share and Global Trend By Application (Industrial, Household, Commercial, Automotive) and Geography Forecast till 2027”, provides an exhaustive analysis of the market through a detailed assessment of the various factors and trends that will shape its development during the forecast period. Apart from this, the report also incorporates a comprehensive evaluation of the different regional and competitive dynamics along with an overall industry outlook that will chart the growth of the market.
A solar thermal fuel is basically a chemical that has the ability to capture and store solar energy for long time periods and release it again in the form of heat. A nascent technology, it is being extensively researched to understand the scope of its application.
Top Players Overview:
- Massachusetts Institute of Technology
- Solar Energy Industries Association
- International Solar Energy Society
- The Australian Solar Thermal Energy Association
- Solar Energy Society of India
- International Energy Agency
- Chalmers University of Technology.
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Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Market.
Unbounded Innovation Opportunities to Spur Competition
The market for solar thermal fuel is emerging as a highly competitive one as vast opportunities for innovation are being rigorously explored by companies and research institutes alike. These innovations must be seen in the broader context of solar energy. Thus some of the noticeable developments in this market include:
- October 2019: California-based Ubiquitous Energy unveiled its ClearView Power Window which boasts of a line of windows that can absorb infrared and ultraviolet light from the sun and convert it into electricity.
- November 2018: Swedish scientists developed a unique fluid that can absorb and store solar energy for 18 years.
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Key Market Driver – Increase in investment for renewable sources of energy
Key Market Restraint – Lack of awareness
1. By Application
2. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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Major Table of Content For Solar Thermal Fuel Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Solar Thermal Fuel Market Analysis, Insights and Forecast, 2027
- North America Solar Thermal Fuel Market Analysis, Insights and Forecast, 2027
- Europe Solar Thermal Fuel Market Analysis, Insights and Forecast, 2027
- Asia Pacific Solar Thermal Fuel Market Analysis, Insights and Forecast, 2027
- The Middle East and Africa Solar Thermal Fuel Market Analysis, Insights and Forecast, 2027
- Latin America Solar Thermal Fuel Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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