Global market for residential and commercial solar thermal technologies to be worth $20 billion In 2014

FARIDABAD, INDIA: According to a new technical market research report, GLOBAL MARKETS FOR RESIDENTIAL AND COMMERCIAL SOLAR THERMAL TECHNOLOGIES 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 five-year CAGR of 19.8 percent.

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 percent 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 five-year CAGR of 7.9 percent 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.

Since 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.