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Global Market for Industrial and Utility Solar-Thermal Technologies to Be Worth $12.8 Billion In 2014

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Expected to increase to nearly $13 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 27.9%.

Wellesley, MA, India PRwire/ — According to a new technical market research report, Global Market for Industrial and Utility Solar-Thermal Technologies (EGY070A) from BCC Research (http://www.bccresearch.com), the global market for industrial and utility solar-thermal technologies is worth an estimated $3.7 billion in 2009, but is expected to increase to nearly $13 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 27.9%.

The region with the largest segment of the market, North America, is estimated to be worth $536 million in 2009, but is projected to rise at a hefty CAGR of 70.3% to reach $7.7 billion in 2014.

The second-largest segment in 2009, Europe, is actually expected to decrease in value over the next 5 years, from $2.8 billion to $1.2 billion in 2014, dropping at a CAGR of -15.7%.

The largest increase in value will be seen in Asia-Australia. The combined markets there are expected to rise at a CAGR of 116.7%, from an estimated value in 2009 of just $57 million to more than $2.7 billion in 2014.

The segment made up of the Middle East and Africa is expected to rise from $307 million in 2009 to $1.2 billion in 2014, for a CAGR of 31.8%.

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. Overlooked within the market for renewable-energy technologies and long overshadowed by solar photovoltaic (PV) technologies, Solar Thermal (ST) Technologies have undergone extensive development and represent a unique technological platform for utility-scale power generation. Unlike solar PV technologies, ST technologies can be readily applied to industrial and utility heating systems or power plant thermal-storage systems to generate power when sunlight is unavailable.

The scope of this investigation includes only major viable technologies and products implemented in the industrial and utility 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.

The report will be of interest to current and potential manufacturers and suppliers of ST technologies as well as entrepreneurs and entrepreneurial companies interested in entering or expanding into the ST technology sector.

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