LONDON--(BUSINESS WIRE)--According to the market research report released by Technavio, the global solar thermal market is expected to accelerate at a CAGR of nearly 5% during the forecast period. The rise in investments in renewable energy is one of the key factors triggering the growth of the market.
This research report titled ‘Global Solar Thermal Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
The market research analysis categorizes the global solar thermal market into the following applications:
- Heat generation
- Power generation
In 2017, the heat generation segment accounted for 99% of the global market and is projected to decline to 98% by 2022, exhibiting almost 1% decrease in market share.
Global solar thermal market: Key emerging trend
Solar thermal enhanced oil recovery is an emerging trend in the solar thermal market space. Solar thermal enhanced oil recovery is a technique applied to increase the production from maturing oil reservoirs using CSP technology. With the maturing oil fields, the production decreases substantially. Therefore, it has become crucial to use different oil recovery methods to ensure adequate production from oil reservoirs. Thermal EOR technique involves the burning of natural gas to reduce the viscosity of heavy oil, thus aiding in vaporizing reservoir water to steam. The process increases the amount of oil that can ultimately be recovered along with the enhanced rate of production. The three most common steam injection methods used are continuous stem injection, steam-assisted gravity drainage, and cyclic steam stimulation.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Solar Thermal Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by application (heat generation and power generation)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Abengoa, ACCIONA, Bosch Thermotechnology, GREENoneTEC, Viessmann)
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
