Authored By: Sarah
18 Nov 2022

Europe Solar Thermal Market Analysis 2021-2025: 91% of the Growth Rate will Develop From Spain

The solar thermal market share in Europe has the potential to grow by 0.54 TWh, progressing at a CAGR of 1.94% during the forecast period. The increasing demand for CSP will offer immense growth opportunities to market vendors. The solar thermal market in Europe is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market. 

Technavio’s report on “Solar Thermal Market in Europe by Technology and Geography - Forecast and Analysis 2021-2025” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus. 

Europe Solar Thermal Market Analysis 2021-2025: 91% of the Growth Rate will Develop From Spain  

What are the leading segments in the Solar Thermal Market in Europe? 

The solar thermal market in Europe is segmented by technology (low and medium temperature and high temperature), and geography (Spain and rest of Europe). 

The growth of the solar thermal market size in Europe by the low and medium temperature segment will be significant during the forecast period. The low and medium-temperature segment primarily includes the small- and medium-scale solar water heating systems for residential and commercial buildings. 

91% of the market’s growth will originate from Spain during the forecast period. The decrease in the prices of CSP with thermal energy storage will facilitate the solar thermal market growth in Spain over the forecast period.  

What are the factors impacting the growth of the Solar Thermal Market in Europe? 

The increasing demand for CSP will directly influences the solar thermal market in Europe. In addition, the development of zero-energy buildings is one of the major solar thermal market trends in Europe that will positively impact the market growth. However, factors such as the intermittency of solar resources will hamper the solar thermal market growth in Europe. 

What are the key Companies in the Solar Thermal Market in Europe? 

The market is fragmented due to the presence of several players. Some of the major solar thermal market vendors in Europe are:

  • Aalborg CSP AS
  • Abengoa SA
  • Acciona SA
  • Bosch Thermotechnik GmbH
  • BrightSource Energy Inc.
  • Cosmosolar
  • DEL PASO SOLAR SL
  • GREENoneTEC Solarindustrie GmbH
  • SENER group
  • Vaillant GmbH

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 

Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.  

What are the key data covered in the Solar Thermal Market in Europe report? 

  • Precise market size estimation during the forecast period 2021-2025. 

  • CAGR of the solar thermal market in Europe forecast during 2021-2025. 

  • Market-level data on units, average selling prices, and values of the solar thermal market share in Europe. 

  • Prediction of the upcoming trends, drivers, and factors that challenge the growth of the solar thermal market in Europe. 

  • Solar thermal industry growth across Europe

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